American Bitcoin Corp Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Context: The call covered results for the quarter ended June 30, 2026. Bitcoin faced price headwinds (down ~12% period-end QoQ; peak-to-trough decline of ~28% from May 10 to June 26), yet the company emphasized operational discipline, record production, and Bitcoin accumulation per share. Comparisons below are primarily to Q1 2026 unless noted. All figures are approximate.

Production & Revenue Highlights

  • Bitcoin mined: 932 (record high) vs. 817 in Q1 2026 (+14%). Drumheller site (fully energized April) added ~3 EH/s of next-gen capacity and contributed at scale for the first time.
  • Revenue: $67 million vs. $62.1 million in Q1 2026 (+8%). Growth driven by higher production and network difficulty adjustment, not price.
  • Revenue per Bitcoin: ~$71,900 vs. ~$76,000 in Q1 2026 (-5%), outperforming the ~12% Bitcoin price decline.

Profitability & Costs

  • Cost of revenue: $34 million vs. $29.6 million in Q1 2026.
  • Gross profit: $33 million vs. $32.5 million in Q1 2026.
  • Gross margin: 49% vs. 52% in Q1 2026 (minor compression due to lower Bitcoin price; cost structure stable).
  • Cost to mine per Bitcoin: ~$36,500 vs. ~$36,200 in Q1 2026 (<1% increase).
  • G&A expense: $7.7 million vs. $6.9 million in Q1 2026 (~11% of revenue, flat QoQ).

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Operator: Good morning, and welcome to American Bitcoin's Second Quarter 2026 Earnings Call. Following prepared remarks, we will open the line for questions. As a reminder, this call is being recorded, and a transcript will be made available on abtc.com. Before we begin, please note that during this call, forward-looking statements will be made within the meaning of the federal securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially. For a detailed discussion of the risks and uncertainties that could cause actual results and events to differ, please refer to American Bitcoin's filings with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K for the fiscal year ending December 31, 2025, and its subsequent quarterly reports on Form 10-Q. American Bitcoin undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances after the date of this call, except as required by law. During this call, the company may also discuss certain non-GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measures is included in the company's earnings release, which is available on the Investor Relations section of our website and was furnished with the Form 8-K filed with the SEC. I would now like to turn the call over to American Bitcoin's Chie

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