The post Eric Trump’s American Bitcoin Steadies After ‘First Major Unlock’ of Shares appeared on BitcoinEthereumNews.com. In brief American Bitcoin shares recovered some ground on Tuesday. Its stock price has fallen 35% from Monday’s close. There will be more unlocks, the firm’s president said. American Bitcoin shares steadied on Wednesday, recovering partially from the end of a lockup period for certain investors that sent its stock price tumbling the day before. Shares in the Bitcoin mining firm co-founded by Eric and Donald Trump Jr. recently changed hands around $2.33, according to Yahoo Finance. The company’s stock price, however, remained down 35% from a closing price of $3.60 on Monday. On Tuesday, investors that had participated in a private placement for American Bitcoin in June had the opportunity to “cash in on their profits for the first time,” according to Eric Trump. The company’s shares fell as low as $1.75, meanwhile. “I’m holding all my @ABTC shares,” he added on X. As part of the private placement, American Bitcoin sold 159 million shares for $220 million, according to an SEC filing. Based on current prices, those shares would be valued at $397 million. As part of the deal, investors could exchange Bitcoin for shares as well.   On X, American Bitcoin President Matt Prusak said more of the company’s shares will become freely tradable soon, describing Tuesday as the “first major unlock of pre-merger shares.” Decrypt has reached out to American Bitcoin for comment. Earlier this year, American Bitcoin was formed when the Trump brothers merged their own business entity with Miami-based Bitcoin miner Hut8. The company signaled that it was going public through a merger with Gryphon Digital Mining in May. Although Prusak warned of choppy market conditions in the coming days as “shares find new homes,” he maintained that the price does not reflect the company’s business, whether that’s the amount of computational power it… The post Eric Trump’s American Bitcoin Steadies After ‘First Major Unlock’ of Shares appeared on BitcoinEthereumNews.com. In brief American Bitcoin shares recovered some ground on Tuesday. Its stock price has fallen 35% from Monday’s close. There will be more unlocks, the firm’s president said. American Bitcoin shares steadied on Wednesday, recovering partially from the end of a lockup period for certain investors that sent its stock price tumbling the day before. Shares in the Bitcoin mining firm co-founded by Eric and Donald Trump Jr. recently changed hands around $2.33, according to Yahoo Finance. The company’s stock price, however, remained down 35% from a closing price of $3.60 on Monday. On Tuesday, investors that had participated in a private placement for American Bitcoin in June had the opportunity to “cash in on their profits for the first time,” according to Eric Trump. The company’s shares fell as low as $1.75, meanwhile. “I’m holding all my @ABTC shares,” he added on X. As part of the private placement, American Bitcoin sold 159 million shares for $220 million, according to an SEC filing. Based on current prices, those shares would be valued at $397 million. As part of the deal, investors could exchange Bitcoin for shares as well.   On X, American Bitcoin President Matt Prusak said more of the company’s shares will become freely tradable soon, describing Tuesday as the “first major unlock of pre-merger shares.” Decrypt has reached out to American Bitcoin for comment. Earlier this year, American Bitcoin was formed when the Trump brothers merged their own business entity with Miami-based Bitcoin miner Hut8. The company signaled that it was going public through a merger with Gryphon Digital Mining in May. Although Prusak warned of choppy market conditions in the coming days as “shares find new homes,” he maintained that the price does not reflect the company’s business, whether that’s the amount of computational power it…