Trump Family's Crypto Venture Suffers $8.2 Billion Loss Amid Declining Bitcoin Values
The Trump family's cryptocurrency venture, American Bitcoin, has taken a hit due to declining Bitcoin values. In the second quarter of 2026, the company reported a net loss of $8.2 billion, similar to that of Michael Saylor's Strategy, the world's largest corporate Bitcoin holder.
During this period, American Bitcoin mined approximately 932 BTC and increased its reserves by 14% to 8,002 BTC. The company's mining revenue rose by 8% to $67 million.
The loss was primarily due to the difference between the cost of mining one Bitcoin ($36,500) and its market price at the time ($63,000). Approximately 3,090 BTC are held as collateral under agreements with Bitmain. Hut 8's devices were used for mining, and by the end of the quarter, the company had 89,242 miners.
In September 2025, American Bitcoin went public but has since seen its ABTC shares plummet by more than 90%. The company was accused in an investigation by Forbes of using Trump's name to attract investors while primarily buying Bitcoin with raised funds. Eric Trump responded by calling the publication 'a disgrace to journalism.'