American Bitcoin (ABTC), the mining firm co-founded by Eric and Donald Trump Jr., has seen extreme volatility lately.
After a wave of negative news, its NASDAQ-listed shares have dropped by more than 62% in a month. At the time of writing, it was trading near $1.85, following a 4.90% fall in the last 24 hours.
While market sentiment has driven its recent crash, the company’s internal reports paint a picture of aggressive asset accumulation. This forms the core of its “Bitcoin infrastructure backbone” strategy.
American Bitcoin’s BTC accumulation spree
As of 8 December 2025, ABTC reported holding a total of approximately 4,783 Bitcoin – An impressive increase of 416 BTC since its last update on 2 December 2025.
These reserves, acquired through a combination of mining operations and strategic purchases, include assets held in custody or pledged as collateral for miner purchases under a key agreement with BITMAIN.
Crucially, the company has also emphasized its commitment to transparency by highlighting the Satoshis Per Share (SPS) metric.
This figure, which reflects the amount of Bitcoin [BTC] attributable to each outstanding share, offers investors a direct measure of their indirect ownership of the underlying digital asset. Such a metric effectively aims to separate the volatility of its public share price from the growth of its core Bitcoin treasury.
Remarking on the same, Eric Trump noted,
“With our Bitcoin reserve now at 4,783, we continue to scale at an exceptional pace. SPS grew more than 17% in just over a month, and we added 416 Bitcoin in the past week—evidence of the strength and efficiency of our strategy.”
Analysts are still bullish...
Despite ABTC’s turbulent movement, some analysts still maintain a bullish outlook though, with some suggesting that the steep sell-off presents a potential for strong future returns.
Specifically, analysts at Roth Capital have publicly voiced confidence in the Bitcoin miner co-founded by Eric Trump.
However, this optimistic perspective comes with a significant disclosure that places the firm squarely in the nexus of Trump-linked business interests.
Roth has previously provided investment banking services to American Bitcoin and its partner, Hut 8.
Furthermore, the firm’s engagement as an underwriter for the Colombier Acquisition III Special Purpose Acquisition Company (SPAC), an entity on whose board Donald Trump Jr. serves, deepens this financial relationship.
A good Q3?
All this has followed the release of ABTC’s impressive third-quarter financial results.
These results demonstrated robust operational health, with revenues surging to $64.2 million (Up from $11.6 million) and the company swinging to a $3.5 million net income – A vast improvement from a $0.6 million net loss the previous year.
In fact, Eric Trump shared this confidence too, stating that he has no intention of selling his personal stake.
Final Thoughts
- Roth Capital’s bullish position is notable, but its deep financial ties to Trump-linked SPACs raise unavoidable questions about objectivity.
- Eric Trump’s refusal to sell his holdings signals confidence, but the market must still digest supply shocks before price stability returns.
