American Bitcoin smashes production records while the cost debate refuses to die

Eric Trump, son of the American president and a fervent crypto supporter, took advantage of an interview with Wolf Financial to clarify his current projects. American Bitcoin is prominent among them. He provided elements that illuminate the company’s strategy. However, the debate over production costs remains very present.

En bref

• American Bitcoin mined 932 BTC in the second quarter of 2026—its best result to date—thanks to a fleet of approximately 90,000 machines running at full capacity.
• Eric Trump announced gross margins of 49% and daily production of 11 to 13 BTC, with cash reserves now totaling 8,300 BTC.
• Forbes disputes these figures and estimates the production cost to be closer to $90,000 per BTC, compared to approximately $57,000 according to management.
• The company relies on Texas’s cheap electricity to justify its strategy of accumulating Bitcoin through mining rather than purchasing it on the market.

932 BTC in one quarter: American Bitcoin’s strongest run so far

The second quarter of 2026 will remain notable for American Bitcoin. The company mined 932 BTC, its highest level recorded to date. Its fleet of around 90,000 machines runs at full capacity. Eric Trump detailed the performance on the Wolf Financial podcast. 

We are one of the largest miners in the world. We do it with gross margins of 49%.

Eric Trump, Wolf Financial. 

Cash holdings now reach 8,300 BTC, valued at over 600 million dollars at the current rate. Daily mining ranges between 11 and 13 BTC. Listed on the Nasdaq under the ticker ABTC, the stock has risen about 50% in one month. 

This move coincided with bitcoin’s rise from 64,000 to over 80,000 dollars. The company emphasizes the efficiency of its mining operations. It also highlights the speed of bitcoin transactions, much higher than that of the traditional banking system.

The ugly fight over what it really costs to mine

These results are however contested. Forbes estimated that American Bitcoin’s production cost would be closer to 90,000 dollars per BTC. Eric Trump on the other hand claims a figure around 57,000 dollars. He called the report politically motivated. 

The gap is significant. A margin of 49% according to management, a potentially much less favorable situation according to Forbes. Eric Trump highlights the American energy advantage. “It’s really an energy game,” emphasizes Eric Trump. 

The company uses low-cost electricity in Texas. It compares this situation to that of the United Kingdom, where the cost per bitcoin could reach 300,000 dollars. However, Forbes estimates that some indirect costs, such as maintenance and personnel, could be undervalued. 

Neither side has published a detailed breakdown since. The doubt about the real profitability of mining therefore persists.

Stacking bitcoin the hard way: mine it cheaper than you can buy it

American Bitcoin’s strategy is based on a clear idea. Mine bitcoin at a cost below the market price. 

We mine every day. It’s really an energy game. 

Eric Trump, Wolf Financial. 

The company has 28.1 EH/s of computing power. Its efficiency is 16 joules per terahash. The machines operate without interruption. Eric Trump recalls: they never stop, 24 hours a day, 7 days a week. 

Fourth quarter 2025 revenue reached 185.2 million dollars, well above expectations. However, if the production cost really approaches 90,000 dollars, the accumulation bet becomes riskier. 

A sustained drop in bitcoin would expose the company more. Mining remains at the heart of the model. It is a trade-off on energy as much as pure BTC production.

How getting shut out by banks pushed a family deeper into crypto

Eric Trump’s involvement in crypto originates from a personal experience. Capital One closed 300 of the Trump family’s bank accounts overnight. He calls this episode “debanking.” He sees a parallel with the difficulties faced by the crypto community. 

This situation pushed him to defend a more open system. He believes major banks will have no choice but to face the ongoing evolution. He sees stablecoins as the future rails of finance. He also calls on the crypto industry for greater professionalism. 

User experience must improve. He compares bitcoin adoption to that of the Internet in the 1990s. According to him, the best is yet to come. American mining, with its energy advantages, fits into this broader vision.

Key figures of the dossier

• BTC price at the time of writing: 78,133 dollars
• American Bitcoin’s daily production: 11 to 13 BTC
• Gross margin announced by Eric Trump: 49%
• Company’s BTC cash holdings: 8,300 BTC
• Production cost according to Forbes: 90,000 dollars per BTC

American Bitcoin displays production records, but the debate over costs remains. Meanwhile, Michael Saylor, more a buyer than a miner, seems back on the scene. He recently hinted at a possible return to bitcoin acquisitions. Accumulation continues in various forms.