American Bitcoin swings to profit on a $197M Bitcoin holdings gain
The Hut 8-backed, Trump-linked miner flipped a second-quarter loss into a profit, and most of the improvement came from the value of the Bitcoin it holds.
Advertising disclosure: we may earn a commission when you join an operator via links on this page, at no cost to you. This never dictates our ratings. How we make money
Key takeaways
- American Bitcoin reported a profit after posting a loss in the second quarter.
- A $197 million gain on its Bitcoin holdings was the main driver.
- The miner is backed by Hut 8 and carries a Trump-linked profile.
- Much of the turnaround came from price moves, not from mining operations alone.
American Bitcoin has returned to profit. The Hut 8-backed miner, which has ties to the Trump family, turned its second-quarter loss around and posted a gain, according to Decrypt's report on Thursday.
The main driver was a $197 million gain on the Bitcoin it holds. That's the number to focus on, because it carries most of the weight.
What changed
The swing from last quarter's loss to this quarter's profit came largely from Bitcoin's rise, which lifted the value of the company's balance sheet. The source material doesn't break out other line items. So there's no way to say how much came from mining revenue or from changes in costs.
Here's the catch. A gain on holdings is a mark-to-market figure. It shows what the coins are worth on paper at the reporting date, not cash earned from producing blocks. If the price falls, that same line can become a loss just as quickly.
Why it matters
If you trade or hold miner stocks, this is a useful reminder: these companies often act like leveraged Bitcoin bets. A strong quarter can tell you more about the Bitcoin price than about how well the operation is run. When you read a miner's results, look past the bottom line and check how much of it is unrealized gains versus actual mining income.
It also keeps a politically connected miner in the spotlight. Can American Bitcoin stay profitable if Bitcoin stalls? The next report will start to answer that.
Source: Decrypt
Top Crypto Casinos Right Now
🇺🇸 Showing sites that accept players from United States Change country
Advertising disclosure: we may earn a commission when you join an operator via links on this page, at no cost to you. This never dictates our ratings. How we make money
More info Less info
Why we chose it: A US-facing book that pays a premium for crypto deposits: 125% against 100% for cash, with fee-free deposits across five coins.
- Payout time
- Within 24 hours (crypto)
- KYC
- Required
Restricted countries: Australia, Afghanistan, Bulgaria, Central African Republic, Congo - Brazzaville, Eritrea, France, Guinea-Bissau and 16 more.
More info Less info
Why we chose it: BetNow's casino floor with the biggest match bonus we list. The 200% headline deserves a careful read of the code terms behind it.
- Payout time
- Within 24 hours (crypto)
- KYC
- Required
Restricted countries: Australia, Afghanistan, Bulgaria, Central African Republic, Congo - Brazzaville, Eritrea, France, Guinea-Bissau and 16 more.
More info Less info
Why we chose it: A US-oriented casino that turns away only New Jersey. The cashier takes crypto, but the site publishes fewer specifics than any operator we list.
- KYC
- Required
Restricted countries: New Jersey (US).
Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
