American Bitcoin posts record Q2 mining output as losses narrow despite falling BTC prices

American Bitcoin Corp. (Nasdaq: ABTC) mined a record 932 BTC during the second quarter of 2026, a 14% jump from the 817 BTC it produced in Q1. The company announced its results on August 3, with newly appointed Head of Investor Relations Michelle Tankimovich leading the earnings discussion and stressing the firm’s focus on infrastructure scaling over short-term price chasing.

That framing matters, because the quarter’s Bitcoin price environment was not exactly friendly. BTC dropped roughly 12% on a quarter-over-quarter basis, compressing the revenue benefit of all that extra hashpower. Mining revenue came in at approximately $67.0 million, up 8% from Q1’s $62.1 million, but revenue per Bitcoin mined slipped about 5% to around $71,900.

Production up, losses down

ABTC posted a net loss of approximately $57.15 million, a meaningful improvement from the roughly $81.79 million loss recorded in Q1. GAAP earnings per share came in at -$0.80. Adjusted EBITDA remained negative at around -$45.0 million. Gross margin compressed slightly to roughly 49%, down from 52% the prior quarter.

The company’s Bitcoin treasury swelled to approximately 8,002 BTC as of June 30, 2026, up about 14% from the roughly 7,021 BTC it held at the end of March. Satoshis per share, the metric ABTC uses to measure shareholder value in Bitcoin-native terms, grew roughly 11% quarter-over-quarter.

The fleet behind the numbers

American Bitcoin operates a fleet of approximately 89,242 mining machines with a total hashrate capacity of around 28.1 exahashes per second. The company is majority-owned by Hut 8 Corp. and was co-founded by Eric Trump and Donald Trump Jr.

Tankimovich, who recently stepped into the investor relations role, used the earnings call to reinforce what management clearly wants the market narrative to be: this is an infrastructure scaling story, not a Bitcoin price speculation play.

Mining against the tide

ABTC’s ability to increase production by 14% while Bitcoin’s price was falling 12% suggests the company’s infrastructure investments are delivering real hashrate gains. The 8% revenue increase on 14% more Bitcoin mined shows exactly how much the price decline ate into the upside. Gross margin compression from 52% to 49% further underscores the squeeze.

At a hypothetical BTC price of $72,000, the treasury of just over 8,000 BTC would be worth roughly $576 million. The satoshis-per-share metric growing 11% suggests that even during a tough pricing environment, each share of ABTC represents a growing claim on Bitcoin.

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