Trump Son's Bitcoin Venture Sees 95% Price Crash

Eric Trump's cryptocurrency mining venture, American Bitcoin Corp., has seen its stock price plummet more than 95 percent from its peak, wiping out an estimated $600 million from the paper value of his ownership stake.

The company's stock price climbed to nearly $140 a share shortly after going public on the Nasdaq in fall 2025 but steadily fell before hitting an all-time low in early July.

According to Bloomberg, the decline has left American Bitcoin out of step with investor interest, which has shifted towards artificial intelligence projects. The company chose not to pivot toward AI, instead focusing solely on cryptocurrency mining.

In a statement, Eric Trump expressed confidence in his venture's long-term future, urging investors to stay patient despite the recent downturn. However, Bloomberg noted that this setback comes as the Trump family continues expanding its presence in the cryptocurrency industry.