Trump-backed American Bitcoin approves 1-for-15 reverse split

Board Sets Ratio After Annual Meeting Vote

American Bitcoin (@ABTC) has approved a 1-for-15 reverse stock split, consolidating every 15 existing shares into a single new share. The board finalised the ratio after shareholders gave their approval at the company's annual meeting on June 22, 2026. The meeting drew strong participation, with approximately 93.56% of voting power represented.

Authorised shares will remain unchanged as part of the transaction. With $ABTC trading near $0.72 and down roughly 60% this year, the move is widely seen as a bid to stay on the right side of Nasdaq's minimum bid price requirement. Reverse splits of this kind are primarily intended to bring a company into compliance with Nasdaq's minimum bid price rule.

Voting power at American Bitcoin is highly concentrated, with Hut 8 Corp. holding approximately 80% of total voting power via subsidiaries. The company was founded in March 2025 by Eric Trump, Donald Trump Jr., and shareholders of their former venture, American Data Centers.

Growing Bitcoin Treasury, Persistent Stock Weakness

The reverse split comes as American Bitcoin continues to build one of the larger corporate bitcoin treasuries among publicly listed firms. The company now holds over 7,500 $BTC. About one-third of those holdings come from self-mining operations running roughly 89,000 ASICs at 28.1 EH/s, with the remainder sourced from open-market purchases.

Co-founder Eric Trump has framed the company's approach as disciplined, large-scale growth, doubling down on mining and growing its BTC treasury even as some rivals shift resources toward artificial intelligence data centres.

American Bitcoin posted a second consecutive quarterly loss, with a net loss of $82 million in the first quarter of 2026, compared with $59 million in Q4 2025. Revenue declined about 20% to $62 million, reflecting lower average revenue per bitcoin mined. The persistent losses and heavy share issuance have weighed on the stock price, leaving the company vulnerable to Nasdaq's $1.00 minimum bid threshold. The reverse split is the clearest signal yet that management views listing compliance as a priority.

Sources:
Crypto Briefing: American Bitcoin Corp board approves 1-for-15 reverse stock split
Bloomberg: Trump Family-Linked Bitcoin Miner Posts Another Quarterly Loss
CoinDesk: American Bitcoin (ABTC) insiders purchased more than $1 million in company stock