Shares of American Bitcoin, a cryptocurrency mining firm co-founded by Donald Trump Jr. and Eric Trump, hit an all-time low on Wednesday, closing at $0.62. The stock has plummeted more than 63% year-to-date and has cratered over 92% since its Nasdaq listing in September 2024.
Record Low Amid Massive Losses
According to Cointelegraph, the company's first-quarter results, reported in May, showed a net loss of $81.7 million. American Bitcoin went public through a merger with Gryphon Digital Mining. The Trump brothers, together with mining giant Hut 8, collectively own approximately 98% of the outstanding shares, resulting in extremely tight float and heightened volatility.
Bitcoin's Decline Adds Pressure
Bitcoin itself has dropped 32% so far in 2026, trading near multi-month lows. Since American Bitcoin's revenue is directly tied to mining operations, the falling BTC price has squeezed its margins and further depressed investor sentiment. The combination of concentrated ownership, mounting losses, and a bearish crypto market creates a challenging environment for the stock. Analysts expect continued downside unless Bitcoin stages a significant recovery or the company announces a major restructuring.