There are more equity unlocks in 2026 for American Bitcoin, according to Brian Dobson, a managing director at Clear Street, adding that share selloffs are typical after such periods.
“Given the outsized impact on the shares that today’s expiration had, I believe that investors would likely pay close attention to upcoming lockup expirations,” Dobson said.
Investor sentiment on crypto has soured as broader macroeconomic factors weighed on risk assets.Credit: Bloomberg
However, for the next events shareholders “would likely be more judicious in their selling of shares,” he added.
Spun out of Hut 8 earlier this year, American Bitcoin saw its shares surge initially on the announced mining venture. Hut 8, which still owns a majority stake in American Bitcoin, saw its shares fall as much as 15 per cent on Tuesday.
American Bitcoin reported third-quarter net income of $US3.5 million on revenue of $US64.2 million in November.
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“The unlock affects who can buy or sell, not the assets we operate or the work the team is doing every day,” said Prusak. “Short term price movement is outside our control, but execution is not. We remain focused on strengthening the business and confident in our strategy, our performance, and the long-term value we are building.”
Donald Trump Jr., who is also an American Bitcoin shareholder, along with other Trump family crypto ventures have suffered too. WLFI, the token of Trump-linked decentralised finance platform World Liberty Financial, is down more than 30 per cent from September’s high, while ALT5 Sigma Corp., a digital asset treasury company holding WLFI tokens, is down over 80 per cent from its record high.
Bloomberg