American Bitcoin posts $57.2M loss as BTC stack grows

American Bitcoin Corp., the Bitcoin miner co founded by Eric Trump and majority owned by Hut 8, reported a $57.2 million net loss for the second quarter on Aug. 3. Summary American Bitcoin reported a $57.2 million loss after recording $71.2 million in digital asset losses. Bitcoin holdings rose 14% to 8,002 BTC, including 3,090 BTC pledged under Bitmain purchase agreements. Mining output reached a record 932 BTC while quarterly revenue increased 8% to $67 million. American Bitcoin’s mining cost remained near $36,500 per coin, broadly unchanged from the previous quarter. Adjusted EBITDA improved to a $45 million loss from a $91.3 million loss in March. The result included a $71.2 million loss on digital assets, even as the company delivered record production and expanded its reserve to approximately 8,002 BTC, according to its official quarterly results. The loss narrowed from $81.8 million in the first quarter. Revenue increased from $62.1 million to $67 million, while adjusted EBITDA remained negative at $45 million, compared with a $91.3 million loss three months earlier. American Bitcoin’s asset loss drove the quarterly deficit The digital asset loss remained the largest expense...