Shares of Bitcoin Miner American Bitcoin (Abtc) has fallen under its original stock exchange prize after falling 15% on Thursday, the day after his debut at Nasdaq.
ABTC traded at $ 6.83 per Share, down from its IPO price of $ 6.90.
The company, owned 80% by HUT 8 and 20% of Donald Trump Jr. and Eric Trump opened for trade Wednesday after completing his merger with Gryphon Digital Mining (Gryp). On the same day, the company filed equity on the market of up to $ 2.1 billion, which it plans to continue to build its Bitcoin stocks.
Shares rose to a high of $ 14.65 during us in the morning before they fell sharply in the afternoon. Other miners, including marathon digital (Mara) and rebel platforms (RIOT)Also acts lower on the day.
Corresponding Bitcoin Glide 2% over the last 24 hours and moved in steps with the wider crypto market, while US stock indices such as Nasdaq and S&P 500 are louder.
American Bitcoin, which holds approx. 2,443 Bitcoin worth around $ 269 million at its current price of $ 110,128, pairs Bitcoin mining with a Treasury strategy focusing on keeping the asset.
Bitcoin mining has become a brutal competitive industry where survival depends on razor-cateron-thin margins and constant adaptation. Power costs eat half or more of the revenue from each pattern, while merciless expansion of the network’s computing power causes difficulties and further squeezes profitability.
Hardware manufacturers like Bitmain continue to flood the market with new rigs and add pressure even when demand is slowing down. As a result, miners must ensure ultra-cheap energy, maintain effective operations and increasingly diversify themselves into areas such as AI-computing or data centers just to stay ahead.
By storing BTC in the open market, companies can take advantage of as prices rise, creating an economic pillow that helps to smooth out the sharp oscillations in the revenue from mining alone.
Bitcoin Miner Marathon Digital (Mara) Uses a similar strategy. The company’s shares are down by 3% over the last 24 hours.
