Overview
- In early July the stock hit an all-time low and the company carried out a 1-for-15 reverse split to keep its Nasdaq listing.
- Shares have fallen more than 95% from their September peak, erasing over $600 million of market value from Eric Trump’s roughly 6% stake.
- American Bitcoin reported a $118.2 million operating loss in Q1 after marking down its Bitcoin treasury by $117.2 million, reflecting the multi-month Bitcoin price decline.
- Company leaders, including Eric Trump, say they will not sell the treasury and have continued to buy Bitcoin, adding hundreds of coins during the recent slump.
- The slide shows a broader market rotation toward miners that lease electricity, real estate and compute for AI work and highlights how service deals with Hut 8 limit American Bitcoin’s ability to pivot to data centers.