Trump family’s Bitcoin mining company, ABTC, has plunged 95% since its listing to date, and more than 8,000 BTC are facing selling pressure

Trump’s family Bitcoin mining firm American Bitcoin（ABTC） carried out a reverse stock split to maintain its Nasdaq listing eligibility. The share price has plunged more than 95% from its peak, and more than 8,000 BTC face the risk of being forced to sell.
(Previously: Trump admitted he “got into crypto for politics”—if you don’t care about Bitcoin, China will win.)
(Background: Is the time to buy the dip in Bitcoin now? Glassnode: BTC sinks into a five-month “deep discount”—3 key signals to watch as the bull market returns)

Table of contents

Toggle

• Reverse split of the share price: just the first step
• More than 8,000 BTC holdings and the sell-off chain
• Market backdrop: BTC drops below $63,000 today

American Bitcoin（ABTC）, the Bitcoin mining company managed by Trump’s son Eric Trump, has recently taken a major hit. To maintain its Nasdaq listing eligibility, the company carried out a 1-for-15 reverse stock split. Its share price has cumulatively fallen by more than 95% since its historical high.

According to on-chain analyst Hupzy’s monitoring, over the past 10 months, the book value of roughly 6% of the shares held by Eric Trump has shrunk by more than $600 million.

Reverse split of the share price: just the first step

ABTC implemented a 1-for-15 reverse stock split in early July, consolidating every 15 shares into 1 share. The direct aim was to meet Nasdaq’s minimum share price requirement. A reverse stock split itself does not create value, but it sends a signal that the company faces delisting risk—something that is often accompanied by reduced stock liquidity and weakening investor sentiment.

Data shows that ABTC’s operating loss in this year’s first quarter reached $118.2 million, with the vast majority coming from Bitcoin impairment losses.

More than 8,000 BTC holdings and the sell-off chain

Despite facing losses, ABTC has recently continued adding to its position. In the first quarter, it added about 500 BTC, bringing its Bitcoin holdings on its balance sheet to more than 8,000 BTC.

But Hupzy notes that if its financial condition deteriorates further and it cannot continue to obtain external financing, these more than 8,000 BTC may become a source for forced selling. A reverse stock split can intensify stock sell-offs, forcing the company to sell part of its Bitcoin assets to meet debt obligations, creating a chain reaction of “selling shares → selling BTC → BTC price downside.”

Market backdrop: BTC drops below $63,000 today

Today’s price action also reflects the selling pressure. Bitcoin has fallen below the $63,000 level, with a 24-hour drop of 1.65% and increased market volatility. In addition, around the same period, a Bitcoin OG that had been inactive for 7 years transferred 2,931 BTC (about $188 million) to a new wallet, keeping sustained upward pressure on the market’s supply side.

For Bitcoin, ABTC’s holdings of more than 8,000 BTC are a potential supply-side risk. If the mining firm moves toward selling at an asset discount, it would be a meaningful sell pressure for the BTC market, which is already in a consolidation phase.