- Investor losses reportedly reached approximately $500 million
- Market cap decline estimated at 92% from $13.2B to $1.24B
- Bitcoin holdings exceed 7,000 BTC per company claims
- Q4 revenue reported at $78.3 million, up 22% QoQ
- Stock decline of over 90% since NASDAQ listing
Bitcoin Mining Venture and Financial Outcomes
Multiple reports indicate that a bitcoin mining venture associated with Eric Trump has resulted in substantial financial losses for investors. Estimates cited across sources place total investor losses at approximately $500 million, particularly among smaller shareholders.
Since being acquired by China, @Forbes has become a political weapon and an embarrassment to journalism.
Just over a year ago, American Bitcoin did not exist. 7 Months and 25 days ago we went public on the NASDAQ. Today we hold over 7,000 Bitcoin and stand as the 16th largest… https://t.co/m7ZD8Pg0F7
— Eric Trump (@EricTrump) April 28, 2026
The venture, operating under American Bitcoin (ABTC), reportedly experienced a significant decline in valuation. Coverage states that its market capitalization dropped by roughly 92%, falling from a peak of $13.2 billion to about $1.24 billion. According to the forbes, around 70% of ABTC’s Bitcoin holdings were acquired through open market purchases rather than mining operations. The all-in cost per Bitcoin is estimated near $90,000 when accounting for depreciation and overhead, compared to a cited figure of $57,000.
Public Listing and Share Performance
ABTC went public via a merger with Hut 8 and was listed on NASDAQ in September. Since its listing, the company’s stock price has declined by more than 90%, according to the reports.
The financial trajectory of the company has been a central focus of media coverage, particularly regarding the gap between investor outcomes and reported operational performance.
Eric Trump Response and Operational Metrics
Trump also cited infrastructure metrics, including 28 exahash of mining capacity and approximately 90,000 active miners. He stated that the company achieves a 53% discount to spot prices when mining Bitcoin. According to the response, ABTC’s treasury holds more than 7,000 Bitcoin, positioning it as the 16th largest public holder of the asset.
Trump also addressed the reports directly, urging readers to evaluate information sources, stating:
“Friends, educate yourselves as to the source of your information… in this case, China!”
In response to the reports, the American Bitcoin (ABTC) co-founder highlighted operational data and recent financial performance. He stated that the company generated $78.3 million in revenue in the fourth quarter, representing a 22% increase compared to the previous quarter.
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