By Reuters | Updated: August 3, 2026
Aug 3 (Reuters) – American Bitcoin (ABTC.O), backed by two of U.S. President Donald Trump’s sons, swung to a second-quarter loss on Monday, hurt by a selloff in the cryptocurrency.
Market volatility from surging geopolitical tensions has pushed investors into a risk-off mode, piling pressure on crypto asset prices.
Here are some details:
- American Bitcoin’s holdings in the asset grew to over 8,000 in the quarter, a 14% jump from the prior quarter
- Its focus on mining pushed quarterly production to a record, with about 932 bitcoin mined in the second quarter
- Bitcoin prices slid over 11% in the quarter from April to June.
- “Despite bitcoin headwinds in Q2, we stayed focused on what we can control,” CEO Mike Ho said.
- Net loss in the quarter was $57.2 million, compared with a profit of $3.4 million in the year-ago period.
- Revenue jumped to about $67 million from $30.3 million a year earlier.
Reporting by Utkarsh Shetti in Bengaluru
© Thomson Reuters 2026
