Trump brothers-backed American Bitcoin swings to second-quarter loss

Reuters

Mon, August 3, 2026 astatine 6:46 AM CDT 1 min read

Aug 3 (Reuters) - American Bitcoin, backed by 2 of U.S. President ‌Donald Trump's sons, swung to a ‌second-quarter nonaccomplishment connected Monday, wounded by a ​selloff successful the cryptocurrency.

Market volatility from surging geopolitical tensions has pushed investors into a risk-off mode, piling unit connected ‌crypto plus prices.

Here ⁠are immoderate details:

• American Bitcoin's holdings successful the plus grew ⁠to implicit 8,000 successful the quarter, a 14% leap from the anterior ​quarter

• Its ​focus connected ​mining pushed quarterly ‌production to a record, with astir 932 bitcoin mined successful the 2nd 4th

• Bitcoin prices slid implicit 11% successful the 4th from April to June.

• "Despite ‌bitcoin headwinds successful Q2, ​we stayed focused connected ​what we ​can control," CEO Mike ‌Ho said.

• Net nonaccomplishment successful ​the ​quarter was $57.2 million, compared with a nett of $3.4 cardinal successful the year-ago ​period.

• Revenue ‌jumped to astir $67 cardinal from $30.3 ​million a twelvemonth earlier.

(Reporting by Utkarsh ​Shetti successful Bengaluru)