American Bitcoin posted Q2 2026 revenue of $67.0 million and a net loss of $57.2 million, driven by $71.2 million in digital asset losses and $28.2 million of depreciation and amortization. The company reported Adjusted EBITDA of $(45.0) million for the quarter and mining revenue rose ~8% sequentially from Q1. American Bitcoin also disclosed growth in its Bitcoin strategic reserve to roughly 8,002 BTC as of June 30, 2026.

Financial Highlights

  • Revenue: $67,015 thousand for the three months ended June 30, 2026.
  • Cost of revenue (exclusive of depreciation and amortization): $34,009 thousand for the quarter.
  • Operating loss: $(74,081) thousand for the quarter.
  • Net loss: $(57,151) thousand for the quarter.
  • Adjusted EBITDA: $(45,032) thousand for the three months ended June 30, 2026.

Business Highlights

  • Strategic reserve increased from ~7,021 BTC at March 31, 2026 to ~8,002 BTC at June 30, 2026, an increase of ~981 BTC (≈14%) in the quarter.
  • Recorded highest quarterly Bitcoin production on record with ~932 BTC mined in Q2 2026 (up from ~817 BTC in Q1 2026); Q2 production represented ~26% of total Bitcoin mined since launch.
  • Increased Satoshis per share by ~11%, from ~9,943 to ~10,989, while shares outstanding grew ~3% over the same period (post 1-for-15 reverse split reflected).
  • Completed energization of ~11,298 next-generation miners in April 2026, adding ~3.05 EH/s at ~13.5 J/TH at Hut 8’s Drumheller site.
  • Total owned fleet at quarter-end: ~89,242 miners with ~28.1 EH/s capacity; operational fleet post-Drumheller energization: ~58,999 miners producing ~25.0 EH/s at ~14.1 J/TH average efficiency.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.