Trump-Linked Crypto Miner Crashes Over 50% as Bitcoin Sell-Off Intensifies

American Bitcoin (ABTC) stock plummeted by more than 50% in just 30 minutes on Tuesday, December 2, 2025, triggering multiple trading halts as the crypto miner co-founded by Eric Trump was dragged down by a deepening market sell-off. This crash occurred despite a temporary stabilization in broader crypto markets, following Monday's massive liquidation event where nearly $1 billion in leveraged positions vanished.

The wipeout erased over half of ABTC's market value, with the stock sinking to $2—an 86% drop from its year-high—and reducing its market capitalization to $1.9 billion from $8.6 billion earlier. Bitcoin itself had dropped more than 30% from its October peak, slamming risky crypto bets, and although BTC briefly recovered above $90,000 on Tuesday, ABTC continued to plunge due to panic selling and technical factors.

American Bitcoin, spun off from Hut 8 Corp., reported $64.2 million in revenue and $3.5 million net income for Q3 2025, but earnings were overshadowed by the market downturn. Eric Trump remained bullish, telling Bloomberg News, "What a great buying opportunity... I have never been more bullish on the future of cryptocurrency." However, the Trump family's crypto exposure faced heavy losses: Donald Trump Jr., an ABTC shareholder, saw mounting declines, while the WLFI token tied to the Trump-backed World Liberty Financial DeFi platform fell over 30% from September.

Trump Media & Technology Group, operator of Truth Social, hit a record low, with its stake controlled by a Trump Jr.-overseen trust losing around $800 million since September. The company's crypto bets included 11,500 Bitcoins bought at ~$115,000 each—now at a 25% paper loss—and a $147 million holding in CRO, Crypto.com's token, which has dropped roughly 50%. Crypto.com is collaborating with Trump Media on a prediction platform called Truth Predict, adding to the family's crypto ecosystem.

Technical analysis indicated ABTC's decline followed a double-top pattern, with the stock below key moving averages, pointing to potential further downside to $1.50. In contrast, other Bitcoin-linked firms like MSTR and Trump Media saw modest rebounds, highlighting ABTC's unique vulnerability due to its mining-focused model and high valuation multiple.