American Bitcoin Corp. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated revenue of $67.0 million for the quarter, a substantial increase from $30.3 million in the same period last year, marking a 121% rise. For the first half of 2026, revenue reached $129.1 million, compared to $42.6 million in the first half of 2025. This growth is attributed to increased Bitcoin production following the deployment of new miners at its facilities, which allowed the company to mine approximately 932 Bitcoin in the second quarter of 2026, up from 308 Bitcoin in the prior year.
Despite the revenue growth, American Bitcoin Corp. reported a net loss of $57.2 million for the second quarter, a significant decline from a net income of $3.4 million in the same quarter of 2025. The loss for the first half of 2026 totaled $138.9 million, compared to a loss of $97.2 million in the first half of 2025. The increase in losses is primarily due to a substantial loss on digital assets amounting to $71.2 million in the second quarter, driven by a decline in Bitcoin prices. Additionally, operating expenses surged to $107.1 million for the quarter, largely due to increased depreciation and amortization expenses associated with the expanded mining operations.
Strategically, the company has made significant operational advancements, including the energization of its Drumheller site, which added 3.05 exahash per second (EH/s) to its mining capacity. As of June 30, 2026, American Bitcoin Corp. held approximately 8,002 Bitcoin, positioning it among the top publicly traded companies in terms of Bitcoin reserves. The company also executed a reverse stock split at a ratio of 1-for-15, effective July 2, 2026, aimed at enhancing its stock price and market perception.
In terms of operational metrics, American Bitcoin Corp. has expanded its mining capacity significantly, with a total fleet capacity of 28.1 EH/s as of the end of June 2026. The company operates its Bitcoin miners across five sites, including locations in New York, Alberta, and Texas. The increase in operational scale is expected to enhance its competitive position in the Bitcoin mining sector, although the company remains sensitive to fluctuations in Bitcoin prices and energy costs, which are critical to its profitability.
Looking ahead, American Bitcoin Corp. aims to continue its strategy of disciplined Bitcoin accumulation and operational efficiency. The company plans to leverage its increased mining capacity and Bitcoin reserves to navigate market volatility and enhance shareholder value. However, management acknowledges the inherent risks associated with the cryptocurrency market, including price fluctuations and regulatory changes, which could impact future performance.
About American Bitcoin Corp.
Gryphon Digital Mining, Inc. operates bitcoin mining activities using ASIC mining equipment hosted at third-party data centers in the U.S. The company generates revenue by contributing computational power to verify Bitcoin transactions, earning bitcoin rewards. Gryphon’s business model focuses on mining and holding bitcoin while managing operational costs through hosting agreements. It targets the digital asset market, leveraging strategic partnerships and infrastructure to optimize mining efficiency and scalability.
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