American Bitcoin Corp., the Eric Trump–co‑founded Bitcoin miner majority‑owned by Hut 8 Corp., said Wednesday it will enact a 1-for-15 reverse stock split as it tries to lift its share price above Nasdaq’s minimum bid requirement.
Key mechanics and timing
- The reverse split takes effect at 5 p.m. ET on July 2; shares will trade on a split‑adjusted basis when markets open July 6.
- The company will keep the ticker ABTC but will issue a new CUSIP.
- Every 15 outstanding Class A and Class B shares will be combined into one share, trimming the share count from roughly 1.09 billion to about 73 million.
- Shareholders do not need to take action; any fractional shares will be cashed out.
- The split was approved at the company’s June 22 annual meeting and finalized by the board at a 1-for-15 ratio.
Why the split: price pressure and listing survival
American Bitcoin said the consolidation is intended primarily to boost its per‑share price and preserve its Nasdaq Capital Market listing, which requires a minimum bid price. Reverse splits are a common remedy for stocks whose prices have fallen below exchange thresholds, but many investors view them skeptically because they raise the nominal share price without changing a company’s market capitalization or underlying business.
Share performance and market context
ABTC shares hit a record low Wednesday, falling to $0.6122, according to Yahoo Finance; trading around $0.636 at the time of the announcement, the stock is down more than 41% over the last month and roughly 86% year‑over‑year. The slump comes amid a broader pullback across crypto markets and crypto‑related equities.
About the company
American Bitcoin operates large‑scale Bitcoin mining operations and accumulates Bitcoin on its balance sheet. The firm went public via a merger last September as part of Hut 8’s stated effort to help build what it called “America’s Bitcoin infrastructure backbone.”
Crypto market backdrop and political note
Bitcoin itself was trading near $60,150—about 16% lower over the past month but slightly above a 21‑month low under $58,000 set overnight. The cryptocurrency remains more than 50% below the peak price referenced in the company’s filing (above $126,000 last October).
Separately, on Tuesday President Donald Trump—Eric Trump’s father—disclosed he earned more than $1.2 billion from crypto‑related businesses in 2025 and holds over $50 million in Bitcoin. Trump dismissed criticism of the disclosure, saying he does not get involved in personal investment decisions and leaves those choices to advisors.
Bottom line
The reverse split gives American Bitcoin a short‑term fix for Nasdaq compliance and could raise the stock’s per‑share price, but it doesn’t alter the company’s assets, mining operations, or Bitcoin holdings. Investors will be watching post‑split trading, miner performance, and broader crypto market momentum to judge whether the move helps stabilize the stock.
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