American Bitcoin records highest quarterly production in second quarter
The digital asset miner reported adjusted EBITDA of negative $45.0 million for the period ending June 30.
American Bitcoin (ABTC) reported record quarterly production of approximately 932 BTC in the second quarter of 2026.
The cryptocurrency miner increased its operational fleet capacity to approximately 25.0 EH/s following the full energization of 11,298 miners in April 2026. This expansion in capacity drove a sequential increase in mining revenue, which rose 8% to approximately $67.0 million from $62.1 million in the first quarter.
Revenue per Bitcoin mined declined approximately 5% to $71,900 from $76,000 in the prior quarter. Despite the dip in per-unit revenue, gross margin remained steady at approximately 50%, compared to 52% in the first quarter.
The cost to mine a single Bitcoin was approximately $36,500 in the second quarter, remaining roughly flat against the $36,200 reported in the first quarter. These figures follow a 23% improvement from the $46,900 cost per Bitcoin recorded in the fourth quarter of 2025.
Adjusted EBITDA improved to negative $45.0 million from negative $91.3 million in the first quarter. General and administrative expenses rose to $7.7 million from $6.9 million in the prior period, though these costs remained flat as a percentage of revenue at approximately 11%.
Strategic Bitcoin reserves grew 14% to approximately 8,002 BTC as of June 30, 2026, up from 7,021 BTC as of March 31. Consequently, Satoshis per share increased 11% to approximately 10,989 from 9,943 in the previous quarter.
American Bitcoin effected a 1-for-15 reverse stock split on July 2, 2026.