American Bitcoin Corp (ABTC), the Trump sons’ Bitcoin mining firm, has crossed 7,000 Bitcoin (BTC) in total holdings, roughly $471 million, as its stock sank to its lowest point since going public.
Shares fell nearly 4% on the day, extending a steep decline that began shortly after the firm’s Nasdaq debut last September.
Hoarding Bitcoin While Stock Crashed 90%
As of this writing, ABTC stock was trading for $0.81, retesting levels last seen in April 2025 and only inches away from its $0.6275 all-time low.
American Bitcoin went public in May 2025, with approximately 2,443 BTC in its treasury. Since then, it has nearly tripled that figure, now ranking 16th among publicly traded Bitcoin holders globally, with 7,000 BTC in its treasury.
The firm grows its reserves through two channels: direct market purchases and Bitcoin mined through its own operations.
“The accumulation machine is running at full throttle — mining at a discount plus disciplined buying. No company is climbing the rankings faster,” wrote Eric Trump.
The firm has also more than doubled its satoshis per share, a metric tracking Bitcoin holdings relative to total shares outstanding.
ABTC Stock Performance Tells a Different Story
Despite growing reserves, ABTC shares have dropped nearly 88% over the past six months. The stock peaked at $14.52 on September 3, 2024, during its opening-day surge, and trading was halted 7 times due to price volatility. It has not recovered since.
The firm posted a net loss of more than $59 million in Q4 2024, a sharp reversal from a $3.49 million profit in the same period the prior year. Falling crypto prices during that quarter contributed to the loss.
American Bitcoin was formed when the Trump brothers merged their private entity with publicly traded miner Hut 8, then gained its Nasdaq listing through a stock-for-stock deal with Gryphon Digital Mining.
Bitcoin itself trades around $66,844, still nearly 50% below its all-time high of $126,199 set last October.
Whether growing BTC reserves can eventually translate into share price recovery depends on how investors weigh treasury accumulation against ongoing operational losses.
