Trump family-linked American Bitcoin posts $60 million loss in Q4… “falling market fallout”

American Bitcoin, a Bitcoin (BTC) mining company linked to the family of U.S. President Donald Trump, is reported to have posted a roughly $60 million loss in the fourth quarter of last year.

According to CoinDesk on the 26th (local time), American Bitcoin recorded a $59 million loss in Q4 last year. CoinDesk said the loss was driven by “a decline in the value of its holdings following a plunge in the Bitcoin price.”

American Bitcoin is a company in which Donald Trump Jr., the eldest son of U.S. President Donald Trump, and Eric Trump, his second son, each hold a combined 20% stake. The company is said to currently hold more than 6,200 bitcoins. CoinDesk reported that “(American Bitcoin) obtained about one-third of its bitcoin holdings through mining,” adding that “the rest was secured via market purchases and strategic transactions.”

Eric Trump stressed on X that day that “the recent decline in mining difficulty is actually an opportunity.” He said, “While most competitors have gone quiet, we were able to significantly increase additional mined output,” adding that “(American Bitcoin) became the world’s 17th-largest publicly listed company by bitcoin holdings after listing on Nasdaq.” He went on to say, “We increased our balance-sheet bitcoin holdings by 58% versus the prior quarter,” and added that it “mined bitcoin at a 53% discount to the market price.”

Meanwhile, American Bitcoin shares were trading in the low $1 range as of that day, up about 3% from the previous day. That is nearly a 90% drop from its peak (around $9).