American Bitcoin Plummets 92% Since Reverse Merger with Hut 8

American Bitcoin has seen its value plummet by approximately 92% since its reverse merger, outpacing the decline of Bitcoin (BTC) over the same period.

The company, which became publicly listed through a reverse merger with Hut 8's mining fleet, was formed by a venture led by Eric Trump and Donald Trump Jr.

American Bitcoin says it is a pure-play Bitcoin accumulation platform integrating scaled mining operations with disciplined accumulation strategies. However, its financial performance has been underwhelming, recording a net loss of more than $150 million in 2025 and adding another $138 million in net losses during the first six months of 2026.

The company's losses were largely driven by the falling price of BTC, which declined by about 25% over the same period. Eric Trump served as American Bitcoin's chief strategy officer during this decline, while Donald Trump Jr. serves as a senior adviser to the company.