Key Highlights
- American Bitcoin stock fell 7% today and is now down more than 95% from its peak as the mining company continues to struggle after its Nasdaq debut.
- The company has lost momentum while rivals, including Riot, MARA, Cipher Mining, and TeraWulf, have attracted investors by expanding into AI data centers.
- Despite the stock decline, American Bitcoin has continued increasing its Bitcoin treasury to 8,000 BTC, maintaining its long-term Bitcoin strategy.
American Bitcoin Corp. (Nasdaq: ABTC), the Bitcoin mining company co-founded by Eric Trump, saw its shares fall about 7% on Monday, extending a prolonged decline that has erased more than 95% of the stock’s value from its peak.
The stock fell from an intraday high of $6.13 to $5.68 at the time of writing. It has now lost more than 95% of its value since reaching an all-time high in September 2025. At the time of writing, the average trading volume has dropped to about $2.26 million, while its market cap sits at $402 million.
American Bitcoin stock extends its decline
The sharp decline has wiped out more than $600 million from the value of Eric Trump’s roughly 6% stake in the company over the past 10 months. The company went public through a merger with Gryphon Digital Mining, but has since struggled as investors shifted away from traditional Bitcoin mining companies.
American Bitcoin made its Nasdaq debut in early September 2025, and excitement around the listing quickly pushed the stock to an all-time high of $139.65 on Sept. 9. However, the rally did not last. The stock has continued to slide and is now down about 77% this year alone.
The decline became severe enough that the company implemented a 1-for-15 reverse stock split to maintain its Nasdaq listing. While a reverse split reduces the number of outstanding shares and increases the share price, it does not change the company’s overall market value.
Company faces financial pressure
American Bitcoin has also faced mounting financial pressure. In its first-quarter 2026 earnings report, the company posted a net loss of $81.8 million, with much of the decline attributed to a reduction in the value of its Bitcoin holdings.
Like many mining companies, it has also been dealing with rising mining costs and weaker profitability as conditions across the crypto market have remained challenging.
Rival miners find growth through AI
At the same time, many of its competitors have taken a different path. Instead of depending only on Bitcoin mining, companies such as Riot Platforms, Cipher Mining, MARA Holdings, and TeraWulf have expanded into artificial intelligence (AI) data centers.
They lease their powerful computing equipment to AI companies, creating a new source of income. Investors have welcomed this strategy, helping these companies record average share gains of more than 60% this year.
TeraWulf’s first-quarter 2026 results illustrate this shift. The company generated $21 million from its high-performance computing (HPC) business, compared with just under $13 million from Bitcoin mining, marking the first time its AI-related operations generated more revenue than its mining business.
Bitcoin treasury continues to grow
American Bitcoin has chosen a different strategy. Rather than moving into AI infrastructure, the company has continued to focus on mining Bitcoin and increasing its Bitcoin treasury.
It recently bought another 500 BTC, increasing its total holdings from 7,500 BTC to 8,000 BTC. At current prices, those holdings are worth about $509 million, making American Bitcoin the 16th-largest publicly traded company holding Bitcoin.
Long-term Bitcoin strategy remains
The company said its Bitcoin reserve has grown more than three times since it joined the Nasdaq. It also said its “Satoshis per share” metric, which measures how much Bitcoin backs each share, has nearly tripled over the same period.
The latest purchase shows that the company is sticking to its long-term Bitcoin strategy despite the ongoing pressure on its stock.
Eric Trump has also maintained a bullish stance as the stock continues to decline. Responding to the latest losses, he wrote on X, “The stacking continues,” reiterating his view that Bitcoin could eventually reach $1 million per coin.
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