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Tuesday Dec 2 2025 16:40
2 min
Shares of American Bitcoin Corp (ABTC), the Bitcoin-mining and treasury firm helmed by Eric Trump, witnessed a significant downturn on Tuesday as persistent challenging market conditions continued to exert pressure on equities linked to cryptocurrencies. ABTC, which made its Nasdaq debut in early September following a reverse merger with Gryphon Digital Mining, shed over half its value in early trading hours. The stock bottomed out at an intraday low of $1.75, marking a 51% decrease for the day, as per data from Yahoo Finance. The shares are currently trading approximately 78% lower than their post-listing peak of $9.31 on September 9th, highlighting the widespread correction across the digital-asset sector and its subsequent impact on associated equities. While no specific catalyst appeared to trigger Tuesday's substantial sell-off, crypto-linked stocks have encountered renewed volatility in recent weeks against the backdrop of a broad retreat in digital assets and profit-taking activities within the technology sector. American Bitcoin's business is intrinsically linked to the price of Bitcoin (BTC), which has undergone one of its most substantial pullbacks in recent history since mid-October, declining from a high near $126,000 to a November low falling below $80,000. The slump in the crypto market has instigated a widespread repricing of equities exposed to cryptocurrencies, particularly among mining operations and corporations that maintain significant Bitcoin holdings. This reassessment has occurred despite American Bitcoin Corp reporting a move towards profitability in the third quarter, with net income reaching $3.47 million and revenue increasing to $64.2 million. The company also augmented its reserves by 3,000 Bitcoin during the third quarter, elevating total holdings to over 4,000 BTC. American Bitcoin is not alone in facing pricing pressures as Bitcoin recedes. Shares of Strategy (MSTR), led by Michael Saylor, have plummeted by over 50%, reducing the company's market capitalization below the value of its Bitcoin assets. Eric Trump commented last month that he remains unfazed by the recent volatility, describing it as the “friend” of investors who appreciate the opportunity to accumulate at more appealing prices.
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