Eric Trump‘s latest business venture has taken a costly turn.
Less than a year after American Bitcoin Corp. made its public market debut with big expectations, the cryptocurrency mining company has watched its stock price collapse, slashing the estimated value of Trump’s ownership stake by more than $600 million on paper, according to Bloomberg‘s calculations.
The slide comes as investors have increasingly shifted their attention away from Bitcoin mining companies and toward businesses tied to the booming artificial intelligence industry, Wonderwall.com can report.
Trump’s Bitcoin venture tumbles
Several members of the Trump family have expanded into cryptocurrency and other business ventures during President Donald Trump’s second term. By: MEGA
Eric serves as chief strategy officer of American Bitcoin, the cryptocurrency mining company that grew out of American Data Centers, a venture he launched alongside brother Donald Trump Jr.
What began as a promising public debut in the fall of 2025 quickly lost momentum. After climbing to nearly $140 a share shortly after the company started trading on the Nasdaq, the stock steadily fell before hitting an all-time low in early July.
Bloomberg estimated that the decline has erased more than $600 million from the market value of Eric’s approximately 6 percent ownership stake.
The company has also carried out a 1-for-15 reverse stock split in an effort to remain listed on the Nasdaq.
Why the company fell behind
Eric Trump has worked closely with several members of his family on Trump Organization ventures over the years, including his brother Donald Trump Jr., who also serves as an advisor to American Bitcoin. By: MEGA
American Bitcoin’s struggles aren’t simply tied to the ups and downs of cryptocurrency prices.
As excitement around artificial intelligence accelerated, many companies that once focused on Bitcoin mining began using their facilities and computing power to support AI projects instead, attracting new investor interest.
American Bitcoin chose a different path, remaining focused on cryptocurrency mining rather than pivoting toward AI. According to Bloomberg, that decision left the company increasingly out of step with what many investors wanted, helping fuel the stock’s sharp decline after its early surge.
Eric isn’t backing down
Eric Trump has urged investors to stay patient despite the recent downturn in American Bitcoin’s stock price. By: MEGA
Despite the stock’s steep decline, Eric has continued to publicly express confidence in American Bitcoin’s long-term future, arguing the company is well-positioned even as many competitors pivot toward artificial intelligence.
On July 7, he celebrated a milestone on social media, writing, “Thrilled to announce American Bitcoin crossing the 8,000 BTC mark!” He also touted the company’s performance, adding, “I want to reiterate how we continue to differentiate ourselves, mining at a 52 percent profit margin in Q1 and continually adding to our treasury, all while maintaining one of the lowest SG&A ratios in the industry.”
“The stacking continues,” Eric concluded.
Company executives also projected confidence. During American Bitcoin’s first-quarter earnings call, CEO Mike Ho said, “We’re seeing hundreds of megawatts from the leading public miners’ shift towards AI.”
He argued that as competitors redirected resources toward artificial intelligence, fewer companies would be competing to mine Bitcoin. He also noted mining difficulty had fallen 6 percent during the quarter, suggesting conditions could become more favorable for companies focused solely on cryptocurrency.
Eric delivered a similar message during the Bitcoin Conference 2026 in Las Vegas in April, encouraging investors to stay patient. “Just hold on guys, just hold on,” he said.
The Trump crypto empire faces fresh scrutiny
Eric Trump and wife Lara Trump have remained prominent figures within the Trump family’s political and business circles. By: MEGA
American Bitcoin’s struggles come as the Trump family continues expanding its presence in the cryptocurrency industry, even as the market remains volatile.
Bloomberg noted that the setback comes even as President Donald Trump has continued expanding the family’s cryptocurrency footprint. In his latest financial disclosure, the president reported at least $1.4 billion in cryptocurrency-related earnings, even as several Trump-linked crypto investments have experienced sharp swings in value.
Eric’s latest paper loss also stands in contrast to the optimism that surrounded the company’s launch. Before American Bitcoin was created, Eric and Don Jr. helped establish American Data Centers, which Eric described as “crucial for the development of AI infrastructure in the United States.”
Within weeks, however, the business shifted its focus, partnering with Hut 8 and reinventing itself as a cryptocurrency mining company instead.