Eric Trump Says American Bitcoin Mines Up to 13 BTC Daily at 49% Margins
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American Bitcoin is producing between 11 and 13 Bitcoin per day at a gross margin of about 49%, according to co-founder and Chief Strategy Officer Eric Trump. Speaking in an August 28 interview with WOLF Financial, Trump also said the Nasdaq-listed miner operates nearly 90,000 mining machines.
The daily production figure is a current company estimate rather than a figure separately reported in American Bitcoin’s latest quarterly filing. Its second-quarter results show a similar mining margin and operating scale, although average Q2 production was lower than Trump’s stated current daily range.
American Bitcoin Mined Record 932 BTC in Q2
American Bitcoin mined approximately 932 BTC during the three months ended June 30, its highest quarterly production on record and up from 817 BTC in the first quarter. That works out to an average of about 10.2 BTC per day during the quarter.
Mining revenue reached about $67 million, while the company said its gross margin remained around 49%. The company reported its stated cost to mine at approximately $36,500 per Bitcoin during the quarter, little changed from $36,200 in Q1.
Trump said American Bitcoin’s scale has grown rapidly since its formation. The company’s second-quarter statement said its owned fleet consisted of about 89,242 miners with 28.1 exahashes per second of total capacity at quarter-end. American Bitcoin CEO Mike Ho said:
“The company generates Bitcoin through scaled infrastructure rather than simply holding it on a balance sheet.”
Gross Margin Differs From Company-Wide Profit
The roughly 49% figure refers to American Bitcoin’s mining gross margin and should not be read as a company-wide profit margin. American Bitcoin reported a $57.2 million net loss for the second quarter, showing that expenses and other accounting items outside mining costs also affect its overall results.
American Bitcoin held 8,002 BTC as of June 30, up from 7,021 at the end of March. Trump said during the more recent interview that the company’s holdings had since grown to roughly 8,300 BTC, although that figure was presented as his latest update rather than in the second-quarter filing.
