American Bitcoin (NASDAQ: ABTC) reported a net loss of $57.2 million in the second quarter of 2026, impacted by the decline in Bitcoin’s price. Despite this, the company increased its Bitcoin holdings from 7,021 to 8,002 coins, bringing the value of its reserves to over $510.6 million. The stock rose over 5% on Monday in New York. The company, a majority-owned subsidiary of Hut 8 Corp backed by President Donald Trump’s sons, achieved its highest quarterly production on record and now ranks 16th in the world for Bitcoin reserves according to Bitcoin Treasuries. Unlike other publicly traded miners, American Bitcoin has not pivoted toward high-performance computing for artificial intelligence, focusing instead on mining and holding Bitcoin.
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