American Bitcoin Corp, the mining enterprise backed by the Trump family, was established last year just prior to a major downturn in the cryptocurrency market. The company has reported its third consecutive quarterly loss, which has been linked to a decline in the value of its assets.
In the second quarter, the loss totaled $57 million, or 80 cents per share, a reduction from the $82 million loss reported in the first quarter, according to a press release from the Miami-based firm on Monday. Revenue increased to $67 million, up from $62 million in the three months ending March 31.
Co-founded by Eric Trump and Donald Trump Jr., American Bitcoin remains one of the few publicly traded firms focused exclusively on cryptocurrency mining, unlike others in the sector that have shifted towards providing infrastructure for artificial intelligence businesses.
“Bitcoin doesn’t follow a steady path, and we’ve never built this company on that assumption. We are aware of the hurdles this industry is encountering this year, but our dedication remains unwavering,” stated Eric Trump, the chief strategy officer, during a conference call following the earnings announcement.
ADVERTISEMENT
CONTINUE READING BELOW
The value of the digital currency fell by 14% during the quarter ending June 30. As of Monday, Bitcoin was trading at approximately $63,150, reflecting a roughly 45% decline over the past year.
Eric Trump. Image: Michael M. Santiago/Getty Images
Although the company highlighted improvements in mining efficiency and enhanced computing power, the ongoing decline in the cryptocurrency market has adversely affected its stock price, as well as that of other firms heavily invested in Bitcoin. By June 30, American Bitcoin had expanded its Bitcoin holdings to around 8,000 tokens, marking a 14% increase since the first quarter.
Following a much-publicized launch in September, the stock price dropped nearly 95% from its peak, prompting the company to enact a 1-for-15 reverse stock split in July to maintain its Nasdaq listing. The shares were down about 3.3%, trading at $5.34 as of 9:57 a.m. in New York.
American Bitcoin also positions itself alongside numerous companies that have declared their status as digital asset treasury firms (DATs), a trend that gained momentum after Donald Trump’s election to a second term.
ADVERTISEMENT:
CONTINUE READING BELOW
“What frustrates me is being categorized with DATs,” Eric Trump noted. “DATs that are stagnant, DATs that need to purchase Bitcoin and other cryptocurrencies at market prices. Our advantage lies in not having to acquire at those prices. We mine for about $0.50 on the dollar.”
The company is one of several cryptocurrency initiatives supported by the Trump family, which includes projects like the decentralized finance platform, World Liberty Financial. Financial reports indicated that Donald Trump made at least $1.4 billion from his cryptocurrency ventures last year, making him the largest U.S. crypto moneymaker.
© 2026 Bloomberg
