American Bitcoin Corp., the mining firm backed by Eric Trump and majority-owned by Hut 8, is doing a 1-for-15 reverse stock split. The move comes after shares hit an all-time low.
The split takes effect July 2 after market close. Shares will start trading on a split-adjusted basis July 6 under the same ticker — ABTC — but with a new CUSIP number.
Why the consolidation? Nasdaq requires stocks to keep a minimum bid price. ABTC fell to $0.61 on Wednesday, down 41% in the last month and nearly 86% over the past year. That’s a long way from the IPO.
The split shrinks the share count from 1.09 billion to about 73 million. Shareholders don’t need to do anything. Fractional shares get cashed out. Shareholders approved the plan on June 22, and the board locked in the 1-for-15 ratio shortly after.
Reverse splits are a common fix for companies bumping up against exchange rules. But investors often read them as a sign of weakness rather than a turnaround. They mechanically raise the share price without changing the company’s actual value.
American Bitcoin runs large-scale mining ops and piles Bitcoin onto its balance sheet. It went public last September through a merger, part of Hut 8’s push to build what it calls “America’s Bitcoin infrastructure backbone.”
Bitcoin itself is trading around $60,150 — down 16% over the month but up from a 21-month low under $58,000 set this week. It’s still more than 50% below its all-time high above $126,000 from last October.
In unrelated news, President Trump disclosed he made over $1.2 billion from crypto businesses in 2025 and holds more than $50 million in Bitcoin. Asked about it, he said he doesn’t get involved in personal investment decisions — those are for advisors.
