American Bitcoin Corp. (Nasdaq: ABTC) grew its strategic Bitcoin reserve to 8,002 BTC as of June 30, a 14% quarter-over-quarter increase from roughly 7,021 BTC at the end of March. The gain was driven by record quarterly production of 932 BTC. Mining revenue rose 8% to approximately $67.0 million from $62.1 million in Q1, while gross margin held near 50% despite an estimated 12% decline in Bitcoin's price during the period.
The reserve expansion includes roughly 3,090 BTC pledged under Bitmain purchase agreements for miner acquisitions. Satoshis per share increased approximately 11%, even as shares outstanding rose about 3% following a 1-for-15 reverse stock split effected on July 2, 2026.
Record output was supported by infrastructure scaling: approximately 11,298 new miners were fully energized in April, lifting the operational fleet to roughly 25.0 EH/s at quarter-end. The cost to mine remained near $36,500 per Bitcoin, broadly unchanged from the prior quarter.
Despite higher production and revenue, the company reported a net loss of $57.2 million and negative Adjusted EBITDA of $45.0 million for Q2. A $71.2 million loss on digital assets drove the operating loss of $74.1 million, reflecting the fair-value decline of the Bitcoin holdings as BTC traded lower. Both the net loss and Adjusted EBITDA loss narrowed from Q1 levels of $81.8 million and $91.3 million, respectively.
General and administrative expenses increased to $7.7 million from $6.9 million quarter-over-quarter. Revenue per Bitcoin mined fell about 5% to roughly $71,900.