Trump-Linked Miner American Bitcoin Corp Suffers 97% Stock Decline

American Bitcoin Corp, a NASDAQ-listed miner co-founded by Eric Trump and Donald Trump Jr., has seen its value plummet to $260 from a peak of $14 just over a year ago.

The stock's decline of 97% in twelve months is attributed to the company's focus on pure-play Bitcoin mining while competitors pivoted to AI data-center services, a decision that left it isolated in a hostile environment of falling crypto prices and rising energy costs.

Eric Trump has pushed back against criticism, pointing out that the company has crossed 8,000 BTC in holdings and reported a 52% mining margin. However, his six percent stake has lost over $600 million in market value over ten months.