Bitcoin Miner American Bitcoin shares (ABTC) fell below its initial stock exchange price after falling 15% on Thursday, the day after its beginnings on the Nasdaq.
ABTC was negotiated at $ 6.83 per share, down compared to its price of Introduction on the stock market of $ 6.90.
The company, 80% owned by Hut 8 and 20% by Donald Trump Jr. and Eric Trump, opened its doors on Wednesday after completing its merger with Gryphon Digital Mining (GRYP). On the same day, the company asked for an increase in stocks to the market up to $ 2.1 billion, with which it plans to continue building its Bitcoin assets.
Actions reached a maximum of $ 14.65 during morning hours before falling strongly in the afternoon. Other minors, including Digital Marathon (Mara) and riot platforms (RIOT)Also negotiate below the day.
Likewise, Bitcoin Slipped 2% in the past 24 hours, passing in step with the wider cryptography market, while the American stock market indices such as the NASDAQ and the S&P 500 are negotiated.
American Bitcoin, which holds approximately 2,443 Bitcoin worth around $ 269 million at its current price of $ 110,128, pairs the operation of Bitcoin with a cash maintenance strategy focused on assets.
Bitcoin exploitation has become a brutally competitive industry where survival depends on thin margins and constant adaptation. Electricity costs eat half or more of the revenues of each mined part, while the incessant expansion of the network’s calculation power increases the difficulty and more press profitability.
Material manufacturers like Bitmain continue to flood the market with new platforms, adding pressure even when demand slows down. Consequently, minors must secure ultra-cocked energy, maintain effective operations and diversify more and more in areas such as IA IT or data centers just to stay in advance.
By storing BTC on the free market, companies can benefit when prices are increasing, creating a financial cushion that helps smooth the net fluctuations in mining income.
Bitcoin Miner Digital Marathon (Mara) uses a similar strategy. The company’s shares are down 3% in the last 24 hours.
