American Bitcoin holds 8,002 BTC; 3,090 tied to Bitmain

American Bitcoin reported 8,002 BTC on its balance sheet at June 30, with 3,090 BTC classified as restricted under miner‑purchase agreements with Bitmain and a related liability of $371.687 million, the company’s filing shows. The filing states the restricted coins were not sold or forfeited and remained on the balance sheet because the company retained redemption or repurchase rights and continued to have economic exposure to the assets.

The company mined approximately 932 BTC in the second quarter and reported $67.015 million of revenue for the period. Total holdings rose by about 981 BTC from March 31 to June 30, and the 932 BTC mined accounted for roughly 95% of that increase.

For the six months ended June 30, American Bitcoin recorded $63.795 million of cash used in operations and $65.316 million spent on digital‑asset purchases, totaling $129.111 million in disclosed cash uses. Net proceeds from at‑the‑market share sales amounted to $144.088 million during the same period. The company sold 7,755,671 Class A shares through the ATM facility in the first half, including 2,151,127 shares that generated $33.585 million of net proceeds in the second quarter. The filing does not allocate those proceeds to specific expenses or purchases.

On a per‑share basis, reverse‑split‑adjusted common shares increased 3.12% while total BTC holdings rose 13.97% over the quarter, raising implied satoshis per share by 10.52%. The ATM facility remained available after a July reverse split.

American Bitcoin reported unit‑economics of about $71,900 in revenue per mined BTC and a stated cost of $36,500 per mined BTC. The filing shows the $36,500 cost figure excludes a $28.237 million depreciation and amortization charge that is recorded separately in the cost‑of‑revenue line.

GAAP results for the quarter included a $57.151 million net loss. The filing attributes a $71.178 million fair‑value loss on digital assets that produced a $74.081 million operating loss, partially offset by an $18.315 million derivatives gain and a $22,000 warrant‑liability gain. The company’s cash‑flow reconciliation treats the fair‑value loss and the derivatives gain as noncash items.

The filing documents that mining contributed most of the quarter’s coin growth while equity sales supplied the principal disclosed financing inflow during the first half of the year.