Reverse Split Eve: ABTC Hits 62¢ Low, Bets 15-to-1 Math Can Beat Nasdaq's $1 Rule 📉

American Bitcoin Corp., the Bitcoin mining and accumulation firm majority-owned by Hut 8 Corp. and co-founded by Eric Trump, will execute a 1-for-15 reverse stock split after markets close Thursday, with split-adjusted trading under the ticker ABTC to begin when the Nasdaq opens Monday. The move was approved by shareholders at the company's June 22 annual meeting and finalized by the board at the same ratio. The consolidation will reduce American Bitcoin's total share count from roughly 1.09 billion to about 73 million and will come with a new CUSIP number. Shareholders need not take action, with any fractional shares to be cashed out automatically. The company said the split is intended to lift its per-share price above the Nasdaq Capital Market's minimum bid requirement, a threshold the stock has struggled to maintain.

ABTC touched an all-time intraday low of $0.6122 on Wednesday before closing down 8.4% at $0.62, according to Yahoo Finance and Google Finance data, then ticked up 4.5% after-hours to $0.65. Shares are down more than 41% over the past month and roughly 86% over the last year, and have shed more than 63% year-to-date since the stock began trading on the Nasdaq on Sept. 3 following American Bitcoin's merger with Gryphon Digital Mining. Eric Trump, Donald Trump Jr. and Hut 8 together own around 98% of the combined entity. American Bitcoin, which runs large-scale mining operations while also accumulating Bitcoin on its balance sheet, reported a first-quarter net loss of $81.7 million in May.

Reverse splits are a common tool for companies whose share prices have fallen too low to satisfy exchange rules, and Nasdaq can begin delisting procedures if a stock trades below a $1 closing price for 30 consecutive trading days. Bitcoin financial services company Nakamoto completed a 1-for-40 reverse split in May after its shares had touched 16 cents in April. American Bitcoin's wider market backdrop has not helped: Bitcoin bounced off its weakest level since September 2024 on Wednesday, sliding to an intraday low of $57,779 before rebounding 2.8% to roughly $60,000, according to CoinGecko. The largest cryptocurrency was recently trading near $60,150, down 16% over the past month and more than 50% below its all-time peak above $126,000 set in October 2025.