American Bitcoin Corp. announced that its Bitcoin reserve has grown to 8,000 BTC after its latest treasury update, as reported by BitcoinTreasuries.net on July 6. The company added 500 BTC to reach this milestone, representing a significant increase from its previous holdings. According to BitcoinTreasuries data, American Bitcoin now holds approximately $512 million worth of Bitcoin among publicly traded Bitcoin treasury companies, positioning it near the top tier of public corporate BTC holders ahead of GD Culture Group and Galaxy Digital in the U.S. list. BitcoinTreasuries.net has also ranked American Bitcoin 16th on its "Bitcoin 100" list, highlighting its prominence among major institutional Bitcoin holders. Eric Trump, who owns about 6% of the firm and doubles as American Bitcoin's Chief Strategy Officer, announced the milestone on X, stating that the crypto company will continue stacking Bitcoin, moving American Bitcoin among the world's largest corporate holders. However, the company's stock has suffered dramatically, slumping more than 97% from its peak and hitting a record low of $5.98 this week, erasing more than $600 million from Eric Trump's stake over the past 10 months, according to Bloomberg calculations.
ABTC shares experienced significant volatility following the company's 1-for-5 reverse stock split, which became effective on July 2 to maintain compliance with Nasdaq's minimum bid price requirement of $1 per share. As reported by Google Finance, ABTC traded at $5.98 at the time of writing, down 29% this week alone, with the stock opening at $7.98, touching an intraday high of $9.31, and falling as low as $7.40 with volume above 2.17 million shares. The massive stock dump forced the firm to launch the reverse split to avoid delisting, with the company stating the action was primarily designed to lift the per-share price and help maintain compliance with Nasdaq's minimum bid price rule. The reversal illustrates just how quickly investors have soured on crypto pure-plays, with success now determined by who can monetize their electricity, land and computing infrastructure rather than who produces the most Bitcoin.
Despite the treasury growth, American Bitcoin reported an $81.8 million net loss in the first quarter of 2026, as previously reported by crypto.news. The loss resulted from Bitcoin falling 22% during the quarter, which led to a $117.2 million non-cash charge on the company's digital asset holdings. However, the company maintained operational efficiency by mining 817 BTC in the quarter and reducing its cost per Bitcoin to $36,200, down 23% from $46,900 in the fourth quarter of 2025. American Bitcoin also purchased 803 BTC during the quarter, taking its total holdings to 7,021 BTC as of March 31. The company reported a 52% mining margin in the first quarter and maintained lean operating costs while many public miners sold Bitcoin after the halving to cover expenses. CEO Mike Ho defended the operating result, stating that "the underlying business was profitable and we did not sell a single coin" in reference to the mark-to-market charge.
American Bitcoin was launched by Hut 8 and Eric Trump in March 2025, with the company built around self-mining and treasury accumulation rather than shifting toward artificial-intelligence data centers. However, the company's predecessor, American Data Centers Inc., originally set up by Eric Trump and Donald Trump Jr. in February 2025, had planned to build a portfolio of data centers before pivoting just a month later to receive mining equipment from Hut 8 Corp. in exchange for an equity stake and exclusive service agreement. The renamed American Bitcoin reverse-merged with Gryphon Digital Mining Inc. and began trading on the Nasdaq in early September, peaking at $139.65 on September 9. As crypto prices plunged over the past nine months, investors rewarded other US-based miners for leasing out their computing infrastructure to AI, with Riot Platforms Inc., Cipher Digital Inc., MARA Holdings Inc., and TeraWulf Inc. announcing data center deals and their shares up an average of more than 60% this year, compared to a 77% plunge for American Bitcoin. CEO Mike Ho noted that "hundreds of megawatts from the leading public miners' shift towards AI resulted in the network difficulty dropping about 6% this quarter," potentially benefiting Bitcoin accumulators like American Bitcoin.
