American Bitcoin posts third consecutive quarterly loss amid Bitcoin decline

American Bitcoin Corp is making a habit nobody wants. The Nasdaq-listed miner just reported a $57.2 million net loss for Q2 2026, its third straight quarter of red ink, as a steep decline in Bitcoin’s price turned its treasury strategy from bold bet into balance sheet burden. The company, majority-owned by Hut 8, has now racked up cumulative losses of roughly $198.5 million across the last three quarters. The numbers behind the pain Bitcoin dropped approximately 22% quarter-over-quarter, and ABTC recorded more than $188 million in fair value declines on its digital assets as a result. The Q2 loss of $57.2 million actually represents an improvement over the $81.8 million loss posted in Q1 2026. The quarter before that, Q4 2025, came in at a $59.5 million loss. Revenue tells a more interesting story. ABTC pulled in about $67 million in Q2, up from $62.1 million in Q1. The company mined roughly 932 Bitcoin during the quarter, compared to around 817 BTC in the prior period. The company has also managed to push its mining cost per Bitcoin down to approximately $36,200, thanks in part to recent equipment acquisitions from Bitmain. As of June 30, 2026, ABTC holds a strategic reserve of ab...