President Donald Trump’s son Eric backed American Bitcoin reported a $57.2 million net loss for the second quarter of 2026, but the company is showing no signs of slowing its Bitcoin strategy.
Instead of cutting back after the loss, the mining firm increased its Bitcoin holdings to more than 8,000 BTC.
American Bitcoin Reports a $57M Loss in Q2
According to the company’s latest earnings report, American Bitcoin posted a $57.2 million net loss during the second quarter. The biggest reason was a $71.2 million unrealized loss on its digital asset holdings, as Bitcoin prices remained under pressure during the quarter.
Despite the loss, the company continued to grow its operations. It mined 932 BTC, its highest quarterly Bitcoin production on record, and increased its Bitcoin treasury by 14%, ending the quarter with about 8,002 BTC.
Around 3,090 BTC of those holdings have been pledged under miner purchase agreements with Bitmain.
Mining Business Continues to Grow
The company’s mining business remained strong despite Bitcoin’s price decline. Mining revenue increased 8% quarter over quarter to $67 million, while the average cost to mine one Bitcoin stayed almost unchanged at around $36,500.
American Bitcoin also completed the deployment of more than 11,000 next-generation miners, increasing its mining capacity to around 28.1 EH/s. The company now operates nearly 59,000 active mining machines across its facilities.
Chief Executive Officer Mike Ho said the company remains focused on building long-term value instead of reacting to short-term price swings.
“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.”
He added that the company stayed focused on what it could control by delivering record Bitcoin production, growing its treasury, and strengthening its mining infrastructure.
Eric Trump Says Bitcoin Strategy Hasn’t Changed
Co-founder and Chief Strategy Officer Eric Trump also defended the company’s long-term approach.
“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.”
Eric Trump noted that what started as an idea just over a year ago has now become one of the world’s largest publicly listed Bitcoin mining businesses.
As of now, Bitcoin is trading around $62,647, down by 49% from its peak.
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