American Bitcoin generated $67 million in Q2 2026 revenue and maintained gross margins near 50% despite a 12% market drop in bitcoin price.
Key Takeaways
American Bitcoin posted $67 million in Q2 2026 revenue with a record 932 Bitcoins mined.Despite a 12% drop in bitcoin price, American Bitcoin held gross margins near 50%.American Bitcoin aims to leverage its 8,002 Bitcoin reserve for long-term growth.The Miami-based company generated $67 million in mining revenue during the quarter ending June 30, up 8% from $62.1 million in the first quarter. Revenue growth was driven by a record 932 bitcoins mined, a 14% increase from 817 bitcoins mined in the first quarter.
American Bitcoin expanded its strategic treasury reserve to 8,002 bitcoins as of June 30, up from roughly 7,021 Bitcoins at the end of March. Second-quarter production accounted for approximately 26% of all Bitcoin the company has mined since launching operations on March 31, 2025.
Despite a roughly 12% decline in average bitcoin prices during the quarter, American Bitcoin maintained a gross margin near 50%. Revenue per bitcoin mined averaged $71,900, while the average cost to mine held steady at $36,500 per bitcoin, up slightly from $36,200 in the first quarter because of minor energy price changes across select sites.
“Our view of the world is simple: Bitcoin is a growing capital asset, and we believe its long-term compounding will outperform our cost of capital,” said Mike Ho, chief executive officer of American Bitcoin. “Despite Bitcoin headwinds in Q2, we stayed focused on what we can control: we delivered our highest quarterly production on record, grew our strategic reserve to over 8,000 Bitcoin, and strengthened the foundation of our business.”
Key fleet developments during the quarter included fully energizing 11,298 next-generation miners in April at Hut 8’s Drumheller facility. The deployment added 3.05 exahashes per second (EH/s) of hash rate at an efficiency rate of 13.5 joules per terahash. By the end of the quarter, the company owned 89,242 miners representing approximately 28.1 EH/s of total potential hash capacity.
The active operational fleet stood at 58,999 miners delivering 25 EH/s with an average efficiency of 14.1 joules per terahash while general and administrative expenses totaled $7.7 million, remaining flat at roughly 11% of top-line revenue.
