{"id":53088,"date":"2026-07-01T10:29:00","date_gmt":"2026-07-01T15:29:00","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=53088"},"modified":"2026-07-01T10:29:05","modified_gmt":"2026-07-01T15:29:05","slug":"trump-backed-american-bitcoin-july-2","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/news\/trump-backed-american-bitcoin-july-2","title":{"rendered":"Trump-Backed American Bitcoin (ABTC) Sets Reverse Split for July 2"},"content":{"rendered":"
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American Bitcoin Corp. (Nasdaq: ABTC), a Bitcoin accumulation platform focused on the buildout of America’s Bitcoin infrastructure backbone, has set the effective time of its 1-for-15 reverse stock split for 5:00 p.m. on July 2, 2026. <\/p>\n\n\n\n

The board fixed the ratio after shareholders granted their approval at the company’s 2026 annual meeting on June 22.<\/p>\n\n\n\n

The common stock will begin trade on a reverse split-adjusted basis on The Nasdaq Capital Market under the same symbol, ABTC, at the market open on July 6.<\/p>\n\n\n\n

What this means is that every 15 issued and outstanding shares of Class A common stock will reclassify into one share of Class A common stock, and every 15 issued and outstanding shares of Class B common stock will reclassify into one share of Class B common stock, each subject to adjustment for fractional shares.<\/p>\n\n\n\n

The company has no Class C common stock outstanding. The step reduces the share count from 1,092,295,800 shares \u2014 360,070,897 of Class A, 732,224,903 of Class B, and no Class C \u2014 to close to 73 million shares, a figure that comprises some 24 million shares of Class A, some 49 million shares of Class B, and no Class C. <\/p>\n\n\n\n

The reverse split leaves the number of authorized shares and the par value of each class unchanged, according<\/a> to the company.<\/p>\n\n\n\n

Participation at the June 22 meeting reached a high level, with close to 93.56% of voting shares represented, the company said.<\/p>\n\n\n\n

Two other measures passed at the same session: Asher Genoot joined the board as a Class I director, and KPMG LLP gained ratification as the company’s auditor for the fiscal year that ends December 31, 2026.<\/p>\n\n\n\n

American Bitcoin\u2019s background<\/h2>\n\n\n\n

American Bitcoin traces its roots to American Data Centers, the venture rebranded in March 2025 when Eric Trump and Donald Trump Jr. joined mining infrastructure firm Hut 8 to launch the company<\/a>. <\/p>\n\n\n\n

Hut 8 contributed mining assets for an eighty percent stake, while the Trump family and American Data Centers shareholders held the rest. Eric Trump serves as co-founder and chief strategy officer.<\/p>\n\n\n\n

Rather than pursue a traditional IPO, the company merged with Gryphon Digital Mining<\/a> and used its Nasdaq listing as a vehicle. <\/p>\n\n\n\n

American Bitcoin began trading in September 2025<\/a> as a pure-play miner and Bitcoin treasury platform. The reserve has since climbed past 6,000 BTC<\/a>, though the shares have seen sharp swings<\/a> amid crypto volatility.<\/p>\n","protected":false},"excerpt":{"rendered":"

American Bitcoin (Nasdaq: ABTC) will implement a 1-for-15 reverse stock split effective July 2, reducing its outstanding shares to about 73 million ahead of reverse split-adjusted trading beginning July 6.<\/p>\n","protected":false},"author":3817,"featured_media":51438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4378],"tags":[6387,5612,4279,6621],"class_list":["post-53088","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-abtc","tag-american-bitcoin","tag-eric-trump","tag-reverse-stock-split"],"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/03\/Trump-Linked-American-Bitcoin-ABTC-Surpasses-7000-BTC-as-Treasury-Growth-Accelerates-Mining-Peer-Slides.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/53088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=53088"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/53088\/revisions"}],"predecessor-version":[{"id":53089,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/53088\/revisions\/53089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/51438"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=53088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=53088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=53088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}