- American Bitcoin’s stock has dropped over 95% from its peak, erasing more than $600 million from Eric Trump’s stake.
- The company completed a 1-for-15 reverse stock split but continued facing heavy selling pressure on Nasdaq.
- Despite the share decline, American Bitcoin increased its treasury to more than 8,000 BTC and reduced mining costs.
American Bitcoin, the Bitcoin mining company co-founded by Eric Trump, has lost more than 95% of its market value from its peak, according to Bloomberg. Over the past 10 months, the decline erased more than $600 million from the value of Trump’s roughly 6% stake, while the company continued expanding its Bitcoin holdings and completed a reverse stock split to maintain its Nasdaq listing.
Reverse Split Fails to Slow Decline
The company reached a record low on Wednesday after months of sustained selling pressure. American Bitcoin closed at $6.13 on July 10, the latest available market close. Earlier, the company completed a 1-for-15 reverse stock split after trading ended on July 2.
Split-adjusted trading began on July 6 under the same Nasdaq ticker. The move reduced outstanding shares from about 1.09 billion to roughly 73 million. However, according to Bloomberg, the stock remains more than 95% below its peak on a split-adjusted basis.
Shareholders approved the reverse split during the company’s June annual meeting. American Bitcoin used the measure to satisfy Nasdaq’s minimum bid-price requirement.
Bitcoin Holdings Continue to Expand
Despite the stock decline, American Bitcoin continued increasing its Bitcoin treasury. The company added another 500 BTC on Monday, lifting total holdings above 8,000 BTC.
According to company updates, the Bitcoin reserve has more than tripled since its Nasdaq debut. Management also said its satoshis-per-share metric nearly tripled during that period.
Eric Trump previously described the company’s operating model as “virtually unmatched.” The company combines Bitcoin mining with direct Bitcoin purchases while retaining mined coins instead of selling them for operating expenses.
First-Quarter Loss Driven by Bitcoin Charge
The latest financial results showed a $118.2 million operating loss during the first quarter of 2026. The figure included a $117.2 million non-cash impairment tied to lower Bitcoin valuations.
American Bitcoin also reported an $81.8 million net loss and $62.1 million in mining revenue. During the quarter, Bitcoin declined about 22%.
Chief executive Mike Ho said the underlying mining business remained profitable after excluding the accounting adjustment. The company mined 817 BTC during the quarter and lowered production costs to $36,200 per Bitcoin from $46,900 in the previous quarter.
