Eric Trump's Crypto Co. Squeezes 15 Shares Into 1, Hopes Nasdaq Notices 🪄

American Bitcoin Corp., the Bitcoin mining and accumulation company co-founded by Eric Trump and majority-owned by Hut 8 Corp., will carry out a 1-for-15 reverse stock split at 5 p.m. ET on July 2, the company announced Wednesday, with split-adjusted trading under the ticker ABTC set to begin when markets open July 6 alongside a new CUSIP number.

Shares of ABTC touched their lowest price to date on Wednesday, falling to $0.6122 per Yahoo Finance data, and were recently quoted at $0.636, leaving the stock down more than 41% over the past month and nearly 86% over the last year amid a broader pullback across crypto-related equities.

Under the plan, every 15 shares of the company's Class A and Class B common stock will be consolidated into a single share, shrinking the total share count from roughly 1.09 billion to about 73 million. Shareholders will not need to take action, and any fractional shares resulting from the conversion will be cashed out. The split was approved at American Bitcoin's annual meeting on June 22 and finalized by its board at the 1-for-15 ratio.

The company has framed the move as a way to lift its per-share price and preserve its Nasdaq Capital Market listing, which requires stocks to maintain a minimum bid price, though reverse splits are frequently viewed by investors as a signal of underlying weakness rather than strength because they mechanically raise the price per share without altering the firm's market value.

American Bitcoin, which runs large-scale mining operations while also accumulating Bitcoin on its balance sheet, went public through a merger process last September as part of Hut 8's broader effort to build out what it has called America's Bitcoin infrastructure backbone.

Bitcoin ($BTC) bounced off its lowest level in nearly two years on Wednesday after soft U.S. economic data and noncommittal comments from Federal Reserve Chair Jerome Powell gave respite to a battered market, with the largest cryptocurrency touching an intraday low of $57,779, its weakest print since September 2024, before rebounding 2.8% to trade near $60,150, according to CoinGecko data. Even after the rebound, Bitcoin remains roughly 52% below the record near $126,000 it set in October 2025.