American Bitcoin claims that it “was formed through the strategic contribution of substantially all of Hut 8’s ASIC fleet into a new venture led by Eric Trump and Donald Trump Jr.”
More specifically, Eric Trump served as chief strategy officer during this >90% decline.
Donald Trump Jr. provides advice to the firm in his role as senior adviser.
Together they’ve led this firm which is supposedly “a pure-play $BTC accumulation platform that integrates scaled $BTC mining operations with disciplined accumulation strategies” into a substantial decline that has far outpaced the decline of $BTC.
Crypto promises that Donald Trump must now live up to
American Bitcoin reported a net loss of over $150 million for 2025.
For the first six months of 2026 it has added to those with an additional $138 million in net losses, largely driven by the falling price of $BTC.
The recent rebound in $BTC prices will likely reduce some of those losses in future quarters if it doesn’t fall again.