American Bitcoin's Losses Exceed $500 Million as Eric Trump Enriched

American Bitcoin, a mining company listed on Nasdaq in September 2025, has been under scrutiny for its business practices. The company's valuation at the time of listing was $13.2 billion, but since then, its shares have plummeted by 92%. This decline has resulted in significant losses for retail investors, with Forbes estimating a total loss of around $500 million.

The publication also highlights how Eric Trump, son of former US President Donald Trump, has benefited financially from the company's operations. While it is not clear if he invested his own funds, his fortune is said to have increased from approximately $190 million to $280 million during this period.

Forbes analyzed American Bitcoin's mining costs and found that the company claims to mine bitcoin at a cost of around $57,000 per coin. However, when factoring in all expenses, including machine purchase, marketing, depreciation, and other costs, the total cost rises to around $92,000 per BTC.