Eric Trump's Bitcoin Mining Firm Loses Over $600 Million After Market Slide

American Bitcoin Corp., the crypto‑mining company co‑founded by Eric Trump, has seen its market value plunge more than 95% since its peak, erasing roughly $600 million from the Trump family’s stake. Eric Trump holds about a 6% interest in the firm. To avoid delisting from Nasdaq, the company completed a 1‑for‑15 reverse stock split in July, shrinking its share count to about 73 million and pulling the price to a record low of under $6 per share. The firm reported an operating loss of $118 million for the first quarter, largely due to a markdown of its Bitcoin holdings, even as it added 500 BTC to its treasury.

While rival miners have redirected power and hardware to lease to artificial‑intelligence data‑center users—boosting their shares by more than 60% this year—American Bitcoin has stayed focused on pure Bitcoin mining. Eric Trump defended the strategy, saying on a podcast that only a “beyond catastrophic” scenario would make the company sell its Bitcoin holdings. The contrast highlights the volatility of crypto‑linked investments for the Trump family, whose own crypto earnings were disclosed at over $1.4 billion for the previous year.

The sharp decline underscores investor shift toward miners that can monetize infrastructure for AI workloads, leaving pure‑crypto miners at a competitive disadvantage.