American Bitcoin Corp. (ABTC), the Bitcoin mining and treasury company co-founded by Eric Trump and majority-owned by Hut 8 Corp., will implement a 1-for-15 reverse stock split on July 2. The move is designed to lift the per-share price and ensure compliance with Nasdaq's minimum $1 bid requirement.
The split takes effect after market close on Thursday, July 2, with ABTC shares trading on a split-adjusted basis when markets open on Monday, July 6. Under the plan, every 15 shares of outstanding Class A and Class B common stock will be consolidated into one share, reducing the total share count from roughly 1.09 billion to about 73 million. The split was approved by shareholders at the annual meeting on June 22 and finalized by the board at the 1-for-15 ratio.
The announcement comes as ABTC touched its lowest price to date on Wednesday, falling to $0.6122. At a recent $0.636, the stock is down more than 41% in the past month and nearly 86% over the last year, mirroring a broader cryptocurrency and mining stock decline. Bitcoin was trading near $60,150, down 16% over the month and more than 50% from its all-time high of $126,000 set last October.
American Bitcoin reported an $81.8 million first-quarter loss, driven largely by unrealized losses on its Bitcoin holdings. Despite the red ink, the company mined a record 817 Bitcoin and acquired an additional 803 BTC during the quarter, ending March with 7,021 BTC on its balance sheet. That treasury has since grown to approximately 7,500 BTC, making American Bitcoin the 16th-largest publicly traded Bitcoin holder.
Reverse splits are not uncommon in the beleaguered Bitcoin treasury sector. In May, David Bailey’s Nakamoto enacted a 1-for-40 reverse split after NAKA shares fell below the Nasdaq minimum. ABTC shareholders need not take any action; fractional shares resulting from the split will be cashed out.
In related disclosures, President Donald Trump—Eric’s father—reported earning more than $1.2 billion from crypto-related businesses in 2025 and holding over $50 million in Bitcoin, though he stated he does “not get involved” in personal investment decisions.
