Trump family crypto miner ABTC’s stock price has plunged 95% from its peak, with more than 8,000 BTC in holdings facing selling pressure

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Golden Finance reported that on July 13, after Trump family Bitcoin miner American Bitcoin (ABTC) implemented a 1:15 reverse stock split to maintain Nasdaq listing eligibility, its share price has fallen by 95% from its all-time high. Over the past 10 months, the book value of about 6% of shares held by Trump’s son Eric Trump has shrunk by more than $600 million.
Data show that ABTC posted an operating loss of $118.2 million in the first quarter, with the vast majority coming from Bitcoin impairment losses. Although the company recently added about 500 BTC, bringing its balance-sheet Bitcoin holdings to more than 8,000, if its financial condition further deteriorates and it cannot continue to obtain external financing, it may face potential forced-sale risk. The reverse stock split signals that the company is at risk of being delisted, which could further intensify stock selling and force the company to sell some of its Bitcoin assets to meet debt obligations.
BTC-1.88%
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