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Aug 06, 2026
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Trump-Backed American Bitcoin Reports Loss

OBBM Network Editorial Staff
August 3, 2026
Trump Backed American Bitcoin Reports Loss

American Bitcoin, a company backed by two of U.S. President Donald Trump’s sons, has reported a second-quarter loss. The loss was attributed to a selloff in the cryptocurrency market, which was affected by surging geopolitical tensions.

Quarterly Results

Despite the loss, American Bitcoin’s holdings in the asset grew to over 8,000 in the quarter, a 14% jump from the prior quarter. The company’s focus on mining also pushed quarterly production to a record, with about 932 bitcoin mined in the second quarter. However, bitcoin prices slid over 11% in the quarter from April to June.

The company’s CEO, Mike Ho, stated that despite the challenges in the bitcoin market, the company remained focused on what it can control. The 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.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.

OBBM Network Editorial Staff

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Editorial team behind OBBM Network — independent, hyper-local journalism syndicated through HyperLocalLoop and OBBM Network TV.

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