American Bitcoin Corp, supported by the Trump family, reported a loss of $59 million in the fourth quarter, with its stock price down about 90% from its peak

The mining company American Bitcoin Corp, supported by the Trump family, reported a net loss of $59 million for the fourth quarter.

The company went public on Nasdaq during the crypto market boom, but as the industry has experienced a significant correction since 2022, its stock price has fallen by about 90% from its peak last September, resulting in a substantial decrease in market value. After the earnings report was released, the company's stock price fell nearly 3% again, trading at just above $1 per share.