Trump-Backed American Bitcoin Crashes 95% Amid Shift to AI-Focused Mining

American Bitcoin (ABTC), a cryptocurrency mining company backed by the Trump family, has seen its stock plummet approximately 95% from its all-time high.

The decline underscores the shift in investor sentiment away from pure-play crypto mining operations and towards companies that can repurpose their infrastructure for artificial intelligence (AI) workloads.

American Bitcoin's fortunes reversed sharply as Bitcoin entered a prolonged bear market, making it difficult for the company to maintain profitability through cryptocurrency price appreciation alone.

Over the past ten months, Eric Trump's stake in American Bitcoin has evaporated by more than $600 million, according to Bloomberg, highlighting the extreme volatility inherent in cryptocurrency investments.