Trump's American Bitcoin Loses 95% Amid Rival Miners' AI Push

American Bitcoin Corp., co-founded by Eric Trump, has seen its stock value plummet over 95% from its peak of $139.65 on September 9, 2025, wiping out more than $600 million in market value from his roughly 6% stake.

The decline began shortly after the company's merger with Gryphon Digital Mining and its subsequent listing on Nasdaq in early September 2025. Despite this, investors have been rewarding U.S. miners that have shifted their focus to leasing computing capacity to artificial intelligence (AI) customers, with companies like Riot Platforms, Cipher, MARA Holdings, and Terawulf seeing an average increase of over 60% in value this year.

In contrast, American Bitcoin has stuck to its pure-play mining strategy, accumulating a treasury that now holds over 7,500 BTC while its equity continues to decline. When questioned about the losses, Eric Trump remained optimistic, stating 'The stacking continues,' consistent with his prediction that bitcoin will eventually reach $1 million per coin.