American Bitcoin Corp. (Nasdaq: ABTC) grows BTC reserve to 8,002 with record Q2 mining
Rhea-AI Filing Summary
American Bitcoin Corp. reported Q2 2026 results highlighted by record Bitcoin production alongside continued losses. Mining revenue was approximately $67.0 million, up about 8% from ~$62.1 million in Q1 2026, while the company recorded a net loss of $57,151 thousand and negative Adjusted EBITDA of $45,032 thousand.
Bitcoin holdings grew from roughly 7,021 as of March 31, 2026 to about 8,002 Bitcoin as of June 30, 2026, a ~14% quarterly increase, with Satoshis per share rising ~11%. The company mined ~932 Bitcoin in Q2 2026, its highest quarterly production, at a cost to mine of roughly $36,500 per Bitcoin, and maintained gross margin near 50% despite an approximate 12% decline in Bitcoin price.
Operating expenses included $71,178 thousand of loss on digital assets, contributing to an operating loss of $74,081 thousand. Management emphasized a strategy of accumulating Bitcoin through scaled mining infrastructure and focusing on compounding Bitcoin per share over time.
Positive
- Bitcoin reserve and production growth: Holdings increased ~14% quarter over quarter to ~8,002 Bitcoin, with record quarterly production of ~932 Bitcoin and Satoshis per share up ~11%.
Negative
- Large quarterly loss driven by digital asset impacts: Net loss was $57,151 thousand, including $71,178 thousand of loss on digital assets, despite higher revenue and record production.
Filing Explained
As of June 30, Bitcoin holdings had grown faster than shares, while the July 2 reverse split changed the share-count basis for per-share measures.
A Form 8-K reports specified material events; this one furnishes American Bitcoin’s results for the quarter ended
A reverse stock split consolidates shares and raises the per-share price proportionally; the split itself does not change company value. The filing states that its
From March 31 to June 30, Bitcoin holdings increased approximately
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
reverse stock split financial
EH/s technical
loss on digital assets financial
Earnings Snapshot
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 3, 2026, American Bitcoin Corp. issued a press release announcing its financial results for the period ended June 30, 2026. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 2.02 and Exhibit 99.1 attached hereto is being furnished to the U.S. Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. |
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Description |
99.1 |
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Press Release, dated August 3, 2026. |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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AMERICAN BITCOIN CORP. |
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Date: |
August 3, 2026 |
By: |
/s/ Matt Prusak |
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Name: Matt Prusak |
American Bitcoin Reports Second Quarter 2026 Results
Grew Strategic Reserve to Over 8,000 Bitcoin, Driven by Record Quarterly Bitcoin Production
MIAMI, FL, August 3, 2026 (PR NEWSWIRE) – American Bitcoin Corp. (Nasdaq: ABTC) (“American Bitcoin” or the “Company”), a Bitcoin accumulation platform focused on building America’s Bitcoin infrastructure backbone, today reported its financial results for the second quarter of 2026.
Mike Ho, CEO of American Bitcoin, said: “Our view of the world is simple: Bitcoin is a growing capital asset, and we believe its long-term compounding will outperform our cost of capital. Despite Bitcoin headwinds in Q2, we stayed focused on what we can control: we delivered our highest quarterly production on record, grew our strategic reserve to over 8,000 Bitcoin, and strengthened the foundation of our business. American Bitcoin is, at its core, an operating business – we generate Bitcoin through scaled infrastructure rather than simply holding it on a balance sheet. Looking ahead, we are focused on deepening that infrastructure advantage, strengthening our balance sheet position, and compounding Bitcoin per share so that the work we do today translates into durable value for our shareholders across market cycles.”
Eric Trump, Co-Founder and Chief Strategy Officer of American Bitcoin, said: “A little over a year ago, American Bitcoin was just an idea. Today, we hold more than 8,000 Bitcoin, operate one of the world’s largest Bitcoin mining platforms, and just delivered our highest quarterly production on record. Our conviction in Bitcoin remains absolute, and our goal is simple: to deliver relentless growth, quarter after quarter, and build the preeminent American Bitcoin powerhouse for the long haul.”
Strategic Reserve Growth
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Mining Platform Performance
Conference Call
Our Second Quarter 2026 Earnings Conference Call will be held today, Monday, August 3, 2026, at 8:30 a.m. ET. Investors can join the live webcast at https://app.webinar.net/rdvyK8BnjWN. To join by telephone, dial 1 (888) 880-3330 ten minutes prior to the start time to allow time for registration. International callers may dial 1 (646) 357-8766.
Supplemental Materials and Upcoming Communications
The Company expects to make available on its website and/or official social media channels certain materials and updates designed to accompany the discussion of its results, along with certain supplemental financial information and other data, including regarding its Bitcoin holdings and related performance metrics. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company’s website, abtc.com/investors, and its social media accounts, including on X, Instagram, and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.
About American Bitcoin
American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., is a Bitcoin accumulation platform focused on building America’s Bitcoin infrastructure. The Company delivers institutional-grade exposure to Bitcoin through an industry-first business model that integrates scaled self-mining operations with disciplined accumulation strategies. For more information, visit abtc.com and follow the Company on X at @ABTC.
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Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements relating to the Company's ability to have its long-term compounding outperform its cost of capital; generate Bitcoin through scaled infrastructure operations; grow and compound its Bitcoin holdings and Satoshis per Share over time; deepen its infrastructure advantage; achieve record and continued growth in Bitcoin production quarter after quarter; strengthen its balance sheet and capital position; optimize fleet efficiency, energy consumption, and cost to mine; deploy incremental mining capacity when expected returns justify it; allocate capital in a manner accretive to Bitcoin per share; deliver relentless growth and durable value for shareholders across market cycles; and build the preeminent American Bitcoin powerhouse, as well as the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally.
Forward-looking statements are not statements of historical fact, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: the price of Bitcoin and concentration of Bitcoin holdings; failure to grow hashrate; the purchase of miners; competition from other methods of investing in Bitcoin; uncertainty in the development and acceptance of the Bitcoin network; reliance on third-party mining pool service providers; hedging transactions; Bitcoin halving events; failure to realize the anticipated benefits of the merger transactions; dependence on Hut 8; liquidity constraints and failure to raise additional capital; failure of critical systems; competition from current and future competitors; changes in leasing arrangements; hazards and operational risks; electrical power requirements; geopolitical, social, economic, and other events and circumstances; cybersecurity threats and breaches; Internet-related disruptions; dependence on key personnel; having a limited operating history; rapidly changing technology; predicting facility requirements; acquisitions, strategic alliances or joint ventures; operating and expanding internationally; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; stock price volatility; the Company’s multi-class capital structure and status as a controlled company; and other factors that may affect the future business, results, financial position and prospects of the Company. Additional factors that could cause results to differ materially from those described above can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in other documents filed by the Company from time to time with the SEC.
Adjusted EBITDA
In addition to our results determined in accordance with GAAP, we rely on Adjusted EBITDA to evaluate our business, measure our performance, and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net loss, adjusted for impacts of income tax provision, depreciation and amortization, gain on derivatives, gain on warrant liability, the removal of non-recurring transactions, and stock-based compensation expense in the period presented. You are encouraged to evaluate each of these adjustments and the reasons that our Board and management team consider them appropriate for supplemental analysis.
Our Board and management team use Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense and income), asset base (such as depreciation and amortization), and other items (such as non-recurring transactions) that impact the comparability of financial results from period to period.
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Net loss is the GAAP measure most directly comparable to Adjusted EBITDA. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in such presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of Adjusted EBITDA in the future, and any such modification may be material. Adjusted EBITDA has important limitations as an analytical tool and you should not consider Adjusted EBITDA in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA may be defined differently by other companies in our industry, its definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing its utility.
American Bitcoin Corp.
Consolidated and Combined Statements of Operations
(in USD thousands)
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Three Months Ended |
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June 30, 2026 |
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March 31, 2026 |
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Revenue |
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$ |
67,015 |
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$ |
62,118 |
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Cost of revenue (exclusive of depreciation and amortization shown below) |
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34,009 |
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29,598 |
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Operating expenses: |
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Depreciation and amortization |
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28,237 |
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26,620 |
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General and administrative expenses |
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7,672 |
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6,908 |
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Loss on digital assets |
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71,178 |
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117,188 |
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Total operating expenses |
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107,087 |
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150,716 |
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Operating loss |
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(74,081 |
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(118,196 |
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Other income: |
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Gain on derivatives |
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18,315 |
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37,292 |
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Gain on warrant liability |
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22 |
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69 |
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Total other income |
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18,337 |
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37,361 |
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Loss before income taxes |
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(55,744 |
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(80,835 |
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Income tax provision |
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(1,407 |
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(957 |
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Net loss |
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$ |
(57,151 |
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$ |
(81,792 |
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Adjusted EBITDA Reconciliation
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Three Months Ended |
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June 30, 2026 |
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March 31, 2026 |
Net loss |
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$ (57,151) |
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$ (81,792) |
Income tax provision |
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1,407 |
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957 |
Depreciation and amortization |
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28,237 |
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26,620 |
Gain on derivatives |
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(18,315) |
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(37,292) |
Gain on warrant liability |
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(22) |
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(69) |
Non-recurring transactions (1) |
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— |
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Stock-based compensation expense |
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812 |
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296 |
Adjusted EBITDA |
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$ (45,032) |
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$ (91,280) |
(1)There were no non-recurring transactions for the three months ended June 30, 2026 and March 31, 2026.
Contacts
American Bitcoin Investor Relations
ir@abtc.com
American Bitcoin Public Relations
media@abtc.com
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