American Bitcoin Corp, the publicly traded Bitcoin mining company co-founded by Eric Trump and Donald Trump Jr., has surpassed 7,000 BTC in holdings, valued at approximately $471 million. Despite this milestone, shares in the firm, trading under the ticker ABTC, fell nearly 4% to $0.82, marking their lowest point since the company’s initial public offering. The divergence between growing Bitcoin reserves and declining share price has drawn attention to the firm’s market performance.
The company reports that it has roughly tripled its Bitcoin holdings since its public debut and has more than doubled its “satoshis per share” metric, which measures Bitcoin holdings relative to total shares outstanding. A satoshi is the smallest unit of Bitcoin, equivalent to one hundred-millionth of a full coin. Eric Trump highlighted the progress on social media, stating that the firm now ranks as the 16th largest publicly traded Bitcoin treasury in the world, a position reached in under seven months since its Nasdaq listing.
ABTC shares have declined nearly 88% over the past six months and are down approximately 94% from their post-IPO peak of $14.52. That high was reached on September 3, when shares surged nearly 100% on the company’s opening day before settling around 34% above the prior close. Trading was halted seven times during that session due to extreme price volatility.
The company was formed when the Trump brothers merged their private entity with publicly traded Bitcoin miner Hut 8. Its route to public markets was subsequently completed through a stock-for-stock merger with Gryphon Digital Mining, a firm that was already listed on a public exchange. The combined entity entered the market with a treasury of approximately 2,443 BTC.
In the fourth quarter, American Bitcoin posted a loss exceeding $59 million as cryptocurrency prices retreated from their autumn highs. This result contrasted sharply with the same period the prior year, when the company recorded a profit of around $3.49 million. The swing underscores the sensitivity of the firm’s financial results to broader crypto market conditions.
The company states its goal is to establish a global benchmark for Bitcoin infrastructure, reserves, and innovation, while positioning the United States as a leader in the Bitcoin economy. It cites data from Bitcointreasuries.org to support its ranking among publicly traded Bitcoin holders. Bitcoin itself is trading around $67,336, up 1.3% over the prior 24 hours but still more than 46% below its all-time high of $126,080, set last October.
Originally reported by Decrypt.
