American Bitcoin, a bitcoin mining company listed on the NASDAQ stock exchange, increased its bitcoin reserves by 14% to 8,002 coins, up from 7,021 held at the end of the first quarter on April 1.
The company mined 817 BTC in the January-to-March period, and in the second quarter it mined about 26% of all the bitcoin it has produced since launching on March 31, 2025.
Revenue and costs
Second-quarter mining revenue reached $67 million, up 8% from the first quarter, though revenue per bitcoin mined fell 5% to about $71,900. General and administrative expenses rose to $7.7 million from $6.9 million, and mining costs held near $36,500 per bitcoin, which the company attributed to only modest electricity price increases at some sites.
Expanded mining fleet
In April, American Bitcoin deployed 11,298 ASIC miners at a site in Drumheller, adding 3.05 exahashes per second of capacity at an efficiency of 13.5 joules per terahash. By quarter's end, its total fleet numbered 89,242 machines with 28.1 exahashes per second of combined power.
CEO Mike Ho said bitcoin is a growing asset whose long-term appreciation would justify the company's costs, describing American Bitcoin as an operating business that generates bitcoin through scalable infrastructure rather than simply holding it on its balance sheet.
Co-founder Eric Trump previously said bitcoin is the best protection against inflation and corruption, predicting it could top $1 million in coming years as corporate investors buy the cryptocurrency for the long term.
