Eric Trump’s Bitcoin Miner Stock Loses $600M in Value as Shares Hit Record Low

American Bitcoin’s stock has plunged more than 95% from its all-time high, wiping out over $600 million from Eric Trump’s roughly 6% ownership stake. The Nasdaq-listed mining and treasury firm hit a fresh record low, closing at $6.13 on July 10. The drop came after a 1-for-15 reverse stock split took effect on July 2, cutting outstanding shares from about 1.09 billion down to roughly 73 million.

Shareholders had approved the move at the company’s June annual meeting to help meet Nasdaq’s minimum share price rules, but the stock kept falling once trading resumed under the adjusted structure.

Bitcoin Treasury Keeps Growing

Despite the stock decline, American Bitcoin continues expanding its BTC holdings. The company added 500 Bitcoin in its latest update, pushing total reserves past 8,000 BTC, more than triple the amount held at its Nasdaq debut. Executives, including Eric Trump, have pointed to the growing treasury and rising satoshis-per-share as signs of strength, even as the share price tells a different story.

Mixed Financial Picture

For the first quarter of 2026, the company posted an $81.8 million net loss, largely driven by a $117.2 million non-cash charge tied to falling Bitcoin prices. CEO Mike Ho said the core mining business remained profitable once that accounting adjustment was excluded, noting the firm mined 817 BTC and cut its production cost to $36,200 per coin, down from $46,900 the prior quarter.

What Comes Next

With Bitcoin prices still under pressure and mining costs a key factor, investors are watching whether lower production expenses and a growing treasury can eventually support the stock, or whether the decline will continue.