Trump-linked American Bitcoin hits 7,000 BTC milestone as shares slide into penny stock territory
Trump-linked American Bitcoin reached 7,000 BTC in its treasury while its stock price dropped below $1.Summary
American Bitcoin (ABTC), a bitcoin mining firm co-founded by Eric Trump, announced it has increased its bitcoin treasury to 7,000 BTC, valued at approximately $474 million, marking a 35% increase since the start of 2026. This accumulation effort has positioned ABTC as the 16th largest corporate bitcoin holder, surpassing Galaxy Digital. The company's "Satoshis per share" metric has also climbed to 660, more than doubling since its Nasdaq debut last September. Despite the growing reserves, ABTC shares have struggled, falling below the $1 threshold to $0.84, representing a year-to-date loss of over 50%. Unlike competitors who rely on market purchases, American Bitcoin builds its reserves primarily through a self-mining strategy, expanding its ASIC mining machine fleet. The company, launched in late 2025, is a majority-owned subsidiary of Hut 8, formed in partnership with Eric Trump's American Data Centers venture, with Donald Trump Jr. listed as a stockholder.
(Source：The Block)