The Trump family reported losses from Bitcoin mining

American Bitcoin, a mining company co-founded by Eric Trump, the son of the U.S. president, reported a net loss of $ 57.2 million for the second quarter of 2026. The main reason was the depreciation of the bitcoins on the company’s balance sheet.

Despite the losses, the company’s operating metrics improved. During the quarter, American Bitcoin mined 932 BTC and increased its reserves by 14% to 8,002 BTC. According to BitcoinTreasuries, this ranks the company 16th among the world’s largest corporate holders of Bitcoin. Revenue from mining increased by 8% to $ 67 million. The company estimates the cost of mining a single Bitcoin at approximately $ 36,500, while the market price in early August was around $ 63,000.

However, a portion of the company’s assets is encumbered: approximately 3,090 BTC out of the total 8,002 are pledged under agreements with mining equipment manufacturer Bitmain. Bitcoin mining is conducted at facilities owned by Hut 8, which received 80% of American Bitcoin’s shares in exchange for data centers and equipment when American Bitcoin was launched. At the end of the quarter, the company was operating 89,242 miners with a combined hashrate of 28.1 EH/s.

American Bitcoin went public in September 2025, but since then, its shares, trading under the ticker ABTC, have fallen by more than 90%. In April, Forbes published an investigation alleging that the company was using the Trump brand to attract investors and, instead of engaging in effective mining, was primarily buying up Bitcoin with the funds raised. Eric Trump reacted harshly, calling Forbes «a disgrace to journalism.»

Michael Saylor’s Strategy company—the world’s largest corporate holder of Bitcoin—also faced losses in the second quarter. Its net loss for the same period amounted to $ 8.2 billion, and the reason was similar—the depreciation of cryptocurrency on its balance sheet. Eric Trump had previously called Sailor a «dear friend,» while positioning himself as a «Bitcoin maximalist» and stating that American Bitcoin should provide investors with exchange-traded access to Bitcoin following Strategy’s model.