Trump Family’s American Bitcoin Tops 8,000 BTC After Record Mining Quarter
American Bitcoin, backed by the Trump family, said it ended Q2 with about 8,002 BTC, worth roughly $512 million, up from about 7,021 BTC in March. The company produced a record 932 Bitcoin in the quarter, its highest since launching, and said this reflects a strategy of mining at scale while steadily building a long-term treasury. Mining revenue rose to $67 million from $62.1 million in Q1, while cost to mine one Bitcoin stayed near $36,500 and gross margin remained close to 50% despite a 12% drop in Bitcoin’s average price. Net loss improved to $57.2 million from $81.8 million. The update follows a turbulent period marked by a weak share price, a July 1-for-15 reverse split to meet Nasdaq requirements, and continued emphasis on expanding infrastructure. American Bitcoin also announced that President and interim CFO Matt Prusak is leaving for Giga Energy.
