American Bitcoin Corp, a Nasdaq-listed miner majority-owned by Hut 8, reported a net loss of $57.2 million in Q2 2026, its third consecutive quarterly deficit. With Bitcoin falling approximately 22% quarter-over-quarter, the company recorded over $188 million in fair value declines on its digital assets, bringing cumulative losses to roughly $198.5 million over the past three quarters. Despite the downturn, revenue rose to $67 million and mining output reached 932 Bitcoin, while production costs fell to approximately $36,200 per Bitcoin thanks to recent equipment acquisitions. As of June 30, 2026, American Bitcoin holds a strategic reserve of 8,002 Bitcoin, exposing it to further downside risk under FASB fair-value accounting rules.
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