Eric Trump’s Bitcoin Bet Erases $600 Million From Family Fortune
By: Tom Maloney and Olga Kharif
S E E D E D C O N T E N T
(Bloomberg) -- American Bitcoin Corp. was built around a simple idea: that owning and mining Bitcoin would be enough to mint money.
Instead, the company co-founded by Eric Trump is mired in a deep downturn. As Bitcoin sank into a bear market and demand for artificial intelligence surged, investors increasingly favored miners that could repurpose their infrastructure for AI-focused data centers.
American Bitcoin, though, stuck with its crypto strategy and has seen its shares slump more than 95% from their peak. That's erased more than $600 million from the market value of Eric Trump's stake over the past 10 months, according to Bloomberg calculations, and forced the company this week into a 1-for-15 reverse stock split to maintain its Nasdaq listing. On Wednesday, its stock price hit an all-time low.
The reversal illustrates just how quickly investors have soured on crypto pure-plays. Success is no longer determined by who can produce the most Bitcoin, but by who has the flexibility to monetize their electricity, land and computing infrastructure.
For the Trump family, American Bitcoin's struggles illustrate the volatile nature of the first family's digital asset investments. Even as President Donald Trump reported at least $1.4 billion in crypto earnings last year in his latest financial disclosure, many retail investors have taken a hit as Trump-affiliated tokens and American Bitcoin stock tanked.Eric Trump owns roughly 6% of American Bitcoin, according to Bloomberg calculations, and serves as its chief strategy officer. Adviser Donald Trump Jr.'s stake is undisclosed.
Eric Trump, the Trump Organization and American Bitcoin didn't respond to requests for comment.
Ironically, when American Bitcoin's predecessor company debuted, it said its strategy would be to build a portfolio of data centers. American Data Centers Inc., a venture backed by Eric Trump and Donald Trump Jr., was set up by the Trump-advised investment bank Dominari Holdings Inc. in February 2025. Eric Trump said at the time that it was "crucial for the development of AI infrastructure in the United States."
But just a month later, it pivoted, striking a deal to receive mining equipment from a company called Hut 8 Corp. in exchange for an equity stake and exclusive service agreement. Then the renamed American Bitcoin reverse-merged with an already-public mining company, Gryphon Digital Mining Inc., and began trading on the Nasdaq in early September. The stock price peaked five trading days later, closing at a high of $139.65 on Sept. 9.
Trolling, taunting, spamming, and off topic comments may be removed at the discretion of group mods. NT members that are known plagiarists, repeat comments, or continue to disrupt/deflect the conversation risk having all of their comments deleted. Please remember to quote the person(s) to whom you are replying to preserve continuity of this seed. Any use of the phrase "Trump Derangement Syndrome" or the TDS acronym in a comment will be deleted. Any use of the term "Brandon", "Traitor Joe", or any variations thereof, when referring to President Biden, will be deleted. Right wing trolls can expect to have their irrelevant questions and comments deleted. Posting debunked lies will be subject to deletion. Use of the terms "leftist" or "lefty" will also be subject to deletion. ©
Tags
Who is online
126 visitors
I saw somebody posted this on Face Book. I had to go find it for myself. And share it with you.
$600 million....isn't that like most of the family fortune?
it's a fraction of the net worth of each of trump's defective spawn. but it's enough loss to maintain his stature as the biggest moron in the family.
I don't think he was ever in any danger on losing his status
he's home free as soon as barron comes out of the closet ...
I never learned much at all about crypto, and have no interest in it. I think its scammy, and I hope it doesnt just destroy our economy eventually.
I'm with you
I've looked into it, and yes I still think it's scammy.
ALL crypto currency represents billions in market value and there are major companies built around it. It would hurt a few... badly, but for the rest of us it would be another Thursday here on NT.
This particular news is only noteworthy as another example of how the Trump's keep failing upward.
And it mocks Eric Trmp. Which is why I seeded it
That's low hanging fruit. LOL!
I take my amusement where I can get it