Kathrine Frich
The company started with a very different focus.
When an emerging technology takes the business world by storm, companies have to adapt fast or risk being left behind.
Sticking stubbornly to an old playbook in a rapidly changing market is always a massive gamble.
Sometimes, that loyalty ends up costing a fortune.
A massive financial hit
American Bitcoin Corp has seen roughly $600 million wiped from its market value over the last ten months.
According to calculations by Bloomberg cited by Irish Star, co-founder Eric Trump decided to stick rigidly to the company’s original cryptocurrency strategy. He completely ignored a wider industry shift toward artificial intelligence.
That decision proved highly damaging. The company watched its shares plummet by 95 percent from their highest point, hitting an all-time low this past Wednesday.
To avoid being kicked off the Nasdaq exchange, the business was even forced into a 1-for-15 reverse stock split.
Changing the business plan
The company actually started with a very different focus. In February 2025, Eric and Donald Trump Jr. helped launch American Data Centers Inc.
At the time, Eric noted that the venture was “crucial for the development of AI infrastructure in the United States.”
But that ambition vanished barely a month later. The company signed a deal with Hut 8 Corp to secure mining equipment in exchange for equity.
After a reverse merger with Gryphon Digital Mining Inc., the newly named American Bitcoin hit a peak share price of $139.65 in early September. Then the steep decline began.
Leaving crypto behind
While American Bitcoin doubled down on mining, other major players took a different route.
Bloomberg reports that investors are no longer interested in pure crypto strategies. Instead, successful firms are making money by leasing out their land, electricity, and computing power to support AI.
Rival companies like Riot Platforms Inc. and TeraWulf Inc. successfully pivoted into the data center space. Because of this smart move, their shares have jumped by an average of more than 60 percent this year.
A family affair
This heavy loss highlights the unpredictable nature of the Trump family’s recent push into digital currency.
Financial records show President Donald Trump made at least $1.4 billion from crypto in 2025. Still, regular retail investors are now feeling the sting as Trump-backed tokens struggle.
Eric Trump serves as the chief strategy officer for American Bitcoin and owns about six percent of it, according to Bloomberg. Meanwhile, Donald Trump Jr. holds an undisclosed stake while acting as a company adviser.
Sources: Bloomberg, Irish Star
