American Bitcoin’s 8,002 BTC Stack Comes With Strings Attached: 3,090 Coins Pledged to Bitmain
American Bitcoin holds 8,002 BTC, but 3,090 coins are pledged to Bitmain under miner-purchase agreements, representing a $371.687 million liability. While the company mined 932 BTC in Q2, its operations consumed $63.795 million in cash, with equity financing playing a central role in liquidity. Despite a GAAP net loss of $57.151 million, much of it is non-cash accounting, with operating cash used at $63.795 million.
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