American Bitcoin’s stock has fallen more than 95% from its peak, cutting the value of Eric Trump’s holdings by over $600 million, according to Techub News, citing crypto.news. The company also failed to ease selling pressure after carrying out a 1-for-15 reverse stock split.
The report said American Bitcoin now holds more than 8,000 BTC on its balance sheet. In the first quarter of 2026, the company posted an operating loss of $118.2 million, including a $117.2 million impairment tied to its bitcoin holdings. Management said that non-cash charge obscured improvement in the mining business.
For the quarter, mining revenue came in at $62.1 million, while the cost to mine each bitcoin fell sharply. The figures point to weaker equity performance even as the company’s mining operation showed better unit economics during the period.
American Bitcoin shares have fallen more than 95% from their peak, leaving Eric Trump’s stake worth over $600 million less, according to Techub News, which cited crypto.news.
The company carried out a 1-for-15 reverse stock split, but the move did not relieve selling pressure. Its bitcoin treasury has now climbed above 8,000 BTC.
In the first quarter of 2026, American Bitcoin reported an operating loss of $118.2 million. That figure included a $117.2 million impairment on its bitcoin holdings. Management said the non-cash charge masked improvement in the company’s mining business. Mining revenue reached $62.1 million during the quarter, and the cost to mine each bitcoin fell sharply.
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