According to Bloomberg, the shares of American Bitcoin co-founded by Eric Trump is down more than 95% from its peak, and over the past 10 months the market value of its roughly 6% stake has shrunk by more than $600 million. The company this week carried out a 1-for-15 reverse stock split to maintain its Nasdaq listing status, and the stock hit a new all-time low on Wednesday. American Bitcoin still adheres to a Bitcoin mining and accumulation strategy; on Monday it increased its holdings by another 500 BTC, and its total holdings are now over 8,000 BTC. In the first quarter, it recorded an operating loss of $118.2 million after a $117.2 million impairment of its Bitcoin reserves.

BTC-1.72%
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YieldKaraoke
· 10h ago
Now, mining companies are competing on who has the lower cost and can last longer. American Bitcoin’s loss rate probably won’t ease until after the halving, when a batch of peer firms are forced out.
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QuietRugAlarm
· 10h ago
A stock price down 95% can still stay on Nasdaq—reverse stock splits are definitely a life-support tactic, but what matters is how the story is told after the lifeline is bought.
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NeonHalf-MeltedIceCream
· 10h ago
A 6% stake shrank by $600 million—did this company’s valuation exceed $10 billion at its peak? During the mining-stock bubble, things were indeed crazy.
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TheWindOnTheBridgeIsTooStrong.
· 10h ago
A reverse stock split by 15x—this move feels a bit familiar.
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GateUser-1379e90d
· 10h ago
BTC is conservative and won’t drop below 45k, and any temporary upward moves are just illusions; all the back-and-forth price action is a tactic to harvest from both above and below.
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0xLateDinner
· 10h ago
Bloomberg picked the perfect timing for this report—adding positions on Monday and posting the lowest historical low on Wednesday; the shorts have all the necessary material.
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