American Bitcoin Shrinks Float 93% as Reverse Split Takes Effect Thursday
American Bitcoin Corp. will complete a 1-for-15 reverse stock split after markets close on Thursday, cutting its outstanding share count by more than 90%. Key TakeawaysAmerican Bitcoin’s reverse split takes. . .
American Bitcoin Corp. will complete a 1-for-15 reverse stock split after markets close on Thursday, cutting its outstanding share count by more than 90%. Key TakeawaysAmerican Bitcoin’s reverse split takes effect at 5 p. m. on July 2, 2026. Shares outstanding drop from 1. 09 billion to about 73 million after the split. ABTC resumes trading on a split-adjusted basis July 6 under a new CUSIP. Split Takes Effect This WeekThe Nasdaq-listed miner, trading under the ticker ABTC,disclosedthat the split becomes effective at 5 p. m. on July 2, 2026. Shares are expected to begin trading on a split-adjusted basis when the market opens on July 6 under the same ticker and a new CUSIP number, 02462A 203. Shares Fall From Over a Billion to 73 MillionEvery 15 shares of Class A and Class B common stock will convert into one share. That reduces total shares outstanding from roughly 1. 09 billion to approximately 73 million, split between about 24 million Class A shares and 49 million Class B shares. AmericanBitcoinholds no Class C shares. Stockholders who end up with fractional shares will receive a cash payment instead, handled by transfer agent Continental Stock Transfer & Trust Company. Nasdaq Compliance Drives the MoveThe company detailed that the split is meant to lift its per share price and keep it above Nasdaq’s minimum bid price requirement. Stockholders approved the split at the company’s annual meeting on June 22. The board then set the ratio at 1-for-15. Registered shareholders do not need to take action. Investors holding shares through a broker or bank will see their positions adjusted automatically. “The reverse stock split is primarily intended to increase the per share price of each class of the Company’s common stock, particularly its Class A common stock, which is currently trading on Nasdaq, to maintain compliance with the minimum bid price requirement for maintaining its Nasdaq listing,” ABTC said on Wednesday. Trump Family Ties Stay in the SpotlightAmericanBitcoinoperates as a majority-owned subsidiary of Hut 8 Corp. Eric Trumpserves as co-founder and chief strategy officer, and Donald Trump Jr. holds a role as strategic advisor. The company combinesbitcoin miningwith an accumulation strategy built around growingbitcoinholdings per share rather than chasing traditional earnings. It runs roughly89,000 minersgenerating about 28. 1 exahash of capacity and has reportedbitcoinholdings above 7,500BTCin recent updates. What This Means for InvestorsA reverse split does not change a company’s market capitalization or the value of an existing position. It reduces the number of shares while raising the price of each one proportionally. For AmericanBitcoin, the split addresses a listing requirement rather than a change in the company’s mining output or treasury strategy. Traders watching ABTC should expect the adjusted price and share count to appear when trading resumes on July 6, with fundamentals unchanged by the mechanics of the split itself.