Donald Trump · U.S. · Bitcoin · Decrypt
Trump-Backed American Bitcoin Hits New Low Price Ahead of Reverse Stock Split
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American Bitcoin Corp., the Bitcoin mining and accumulation company co-founded by Eric Trump and majority-owned by Hut 8 Corp., is set to consolidate its shares in a 1-for-15 reverse stock split, the company announced Wednesday, in a move aimed at lifting its stock price back above Nasdaq's minimum listing threshold.
Key facts
- On Tuesday, President Donald Trump—Eric’s father—disclosed that he earned more than $1.2 billion from crypto-related businesses in 2025, and holds over $50 million in Bitcoin
- Bitcoin was recently trading near $60,150, down 16% over the last month but up from a 21-month low under $58,000 set overnight
- The split was approved by shareholders at the company's annual meeting on June 22 and finalized by its board afterward at the 1-for-15 ratio
- At a recent price of $0.636, American Bitcoin is down more than 41% in the last month amid a broader swoon across the crypto market and related stocks
Summary
American Bitcoin Corp. will execute a 1-for-15 reverse stock split on July 2. The move is intended mainly to boost the per-share price so the company keeps meeting Nasdaq's minimum bid price rule. ABTC shares fell to a fresh low Wednesday, and were recently down 41% in the last month. The split will take effect at 5 p.m.