Trump Family’s Mining Company Reports Losses

The mining company owned by the sons of U.S. President Donald Trump — American Bitcoin — reported a $59 million loss for the fourth quarter of last year. In 2025, unrealized losses on its bitcoin reserves reached $227 million amid a decline in cryptocurrency prices.

American Bitcoin continued increasing its crypto holdings even after October, when the market began to decline. By the end of December, the company held 5,401 BTC in its wallets, and since the beginning of 2026, reserves have grown to more than 6,000 BTC. Between October and December, the company raised $150.5 million through share offerings.

At the start of the year, the miner was producing bitcoin with a gross margin of 53%, while production costs were significantly below the spot price of the asset. Revenue increased by 22% compared to the third quarter.

The company follows a strategy of holding all mined coins rather than selling them on the market, and it also purchases additional bitcoin. Financing is largely secured through equity sales.

American Bitcoin was established in March 2025 with the participation of mining firm Hut 8, which received 80% of the new company’s shares in exchange for providing infrastructure and mining equipment. The president’s eldest son, Eric Trump, stated that he sees the project not only as a mining business but also as a way to provide investors with access to bitcoin through securities. The company went public in September. The Trump sons directly own 20% of American Bitcoin (and control Hut 8).

In pre-market trading, shares rose 3.8% to $1.09, but at the market open on February 26, the price adjusted to $1.05. From last year’s peak of around $9, the stock has fallen nearly 90%. In December, Eric Trump attributed the decline to a wave of share sales following the expiration of lock-up restrictions in the first months after listing.

See also: "Bitcoin mining is no longer profitable: experts explain the situation"

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