$92B Loss: Hut 8-Owned American Bitcoin Implodes Under Trump Leadership

American Bitcoin, a firm owned by Hut 8 that's involved in BTC mining, has underperformed significantly since its reverse merger and became publicly listed. The company has lost approximately 92% of its value after accounting for its reverse stock split, compared to a mere quarter of the decline in the price of $BTC.

American Bitcoin claims to be 'a pure-play BTC accumulation platform that integrates scaled BTC mining operations with disciplined accumulation strategies.' However, under the leadership of Eric Trump as chief strategy officer and Donald Trump Jr. as senior adviser, the firm has seen a substantial decline in value.

The company reported a net loss of over $150 million for 2025 and added to those losses with an additional $138 million in net losses for the first six months of 2026, largely driven by the falling price of $BTC. The recent rebound in $BTC prices may reduce some of those losses if it doesn't fall again.