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股价崩跌90%!特朗普家族最硬核的比特币公司快撑不住了?

FX1682026年2月26日 22:32
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FX168财经报社(北美)讯 曾借着加密货币狂潮在纳斯达克高调上市、由特朗普家族支持的矿业公司 American Bitcoin Corp.(ABTC),正陷入自 2022 年以来行业最严重的崩溃余波中。

这家总部位于迈阿密的机构于周四(2月26日)报告第四季度亏损 5900 万美元。与此同时,受“特朗普数字资产交易”整体失灵的影响,其股价已自 9 月高点回落近 90%,市值几乎被抹平。

(来源:Google)

当几乎所有主要竞争对手都纷纷转向人工智能(AI)领域时,American Bitcoin 却加倍押注于“纯挖矿+长期囤币”策略。这一由联合创始人埃里克·特朗普(Eric Trump)倡导的策略,在比特币冲过 12.6 万美元时显得极具预见性,但随着币价回落至 7 万美元附近,该策略变得岌岌可危。这种“信仰”的代价显而易见:由于对比特币储备进行减值计入,该公司全年录得 2.27 亿美元的账面损失。

“随着比特币从高点剧烈回撤,囤币策略会放大亏损,”CoinShares 数字资产分析师 Matthew Kimmell 表示,“库存价值在逐日盯市下缩水,投资者会早于业务操作,提前计入资产负债表的压力。”

这一颓势反映了特朗普家族加密版图的整体回调。在本月于海湖庄园接待华尔街高管的 DeFi 平台 World Liberty Financial(WLFI),其原生代币自 9 月发行以来已暴跌 65%;而总统个人的“模因币”(Memecoin)跌幅更甚,自 3 月开盘以来已下挫 72%。

值得注意的是,由特朗普兄弟支持的实体 American Data Centers Inc. 最初定位是 AI 基础设施供应商,之后才并入最终的 American Bitcoin。

在特朗普相关企业中,很少有像 American Bitcoin 跌得如此惨烈的——其股价在 12 月 2 日曾遭遇约 50% 的闪崩。当 American Bitcoin 承诺不卖出任何挖出的代币时,整个矿业界的其他公司正加速反向奔跑。包括 MARA Holdings 和 Riot Platforms 在内的巨头已开始将部分场地转型为 AI 基础设施;而 Cipher Mining 和 TeraWulf 等矿工则更加激进,抛售了部分或全部持币储备及矿场。

目前,American Bitcoin 的复苏路径很大程度上取决于其控制之外的力量。该公司的“挖矿+国库”模型唯有在比特币重拾升势时才能奏效。不过,该公司第四季度营收环比增长了 22%。此外,现任政府将加密货币列为国家优先事项(包括将比特币作为国家储备)的承诺,或许能为整个行业提供助力。

“我专注于 American Bitcoin 和 World Liberty,”埃里克·特朗普在 2 月 19 日接受采访时表示,“我想将现代数字金融与现实世界的实物资产真正融合。”

今年 3 月,特朗普家族披露了与 Hut 8 合作成立专注于比特币挖矿的风投计划。Hut 8 将所有矿业资产转移至新公司,自身转向 AI 数据中心。此前,Hut 8 收购了由埃里克与小唐纳德·特朗普支持的 American Data Centers 的多数股权,随后该公司更名为 American Bitcoin。

这一系列举动呼应了特朗普在 2024 年大选时的承诺,即让剩下的比特币全部“美国制造”。然而,考虑到全球矿工的激烈竞争,这几乎是不可能完成的任务;更何况,由于其关税政策,从中国进口矿机硬件正变得难上加难。

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