American Bitcoin Corp, the Bitcoin mining company backed by Eric Trump and Donald Trump Jr., has approved a 1-for-15 reverse stock split after receiving shareholder approval during its 2026 annual meeting.
The move comes as the company continues expanding its Bitcoin treasury, even as its stock remains under pressure amid broader weakness in both equity and cryptocurrency markets.
Shareholders Approve Reverse Stock Split
According to a filing with the U.S. Securities and Exchange Commission (SEC), shareholders voted in favor of several corporate proposals during the company’s annual meeting, including the approval of a one-for-15 reverse stock split.
Following the vote, American Bitcoin’s board authorized the reverse split, which the company said will become effective as soon as practical.
A reverse stock split reduces the total number of outstanding shares while increasing the price of each remaining share proportionally. Although the number of shares held by investors decreases, the overall value of their investment remains unchanged.
Companies often use reverse stock splits to boost their share price, improve market perception, or maintain compliance with stock exchange listing requirements.
Board Appointments and Auditor Approved
Alongside the reverse stock split, shareholders elected Asher Genoot as a Class I director, where he will serve a three-year term ending in 2029.
Investors also voted to reappoint KPMG LLP as the company’s independent registered public accounting firm, reaffirming its role as American Bitcoin’s external auditor.
The appointments reflect the company’s efforts to strengthen its corporate governance while continuing its expansion in the Bitcoin mining and treasury sectors.
American Bitcoin Continues Building Its Bitcoin Treasury
Since launching its operations, American Bitcoin has steadily increased its Bitcoin holdings.
The company now owns more than 7,500 BTC, making it one of the largest publicly traded corporate Bitcoin holders. Based on available treasury data, American Bitcoin currently ranks 16th among public companies holding Bitcoin on their balance sheets.
Eric Trump continues to play a prominent role in the company’s operations as it pursues a strategy centered on both Bitcoin mining and long-term Bitcoin accumulation.
Political Scrutiny Continues
The company’s latest corporate update comes amid ongoing political attention surrounding businesses linked to the Trump family.
Earlier this week, Democratic senators called on Senate Republican leaders to hold hearings regarding a reported $500 million investment in World Liberty Financial by an Abu Dhabi-backed investment entity.
Lawmakers have requested testimony from Trump administration officials to determine whether the investment influenced subsequent U.S. policy decisions involving the United Arab Emirates.
According to previous reports, the senators referenced a Wall Street Journal investigation stating that Aryam Investment 1, a company backed by Sheikh Tahnoon bin Zayed Al Nahyan, acquired a 49% stake in World Liberty Financial under an agreement signed in January 2025.
The lawmakers also pointed to later approvals involving arms sales and access to advanced artificial intelligence technology as developments they believe warrant further congressional review.
At this stage, those concerns remain part of an ongoing political discussion and are separate from American Bitcoin’s business operations.
Directors Receive Newly Vested Shares
The SEC filing also disclosed that several company directors received Class A common shares following the vesting of restricted stock units (RSUs).
The newly issued shares include:
- Justin Mateen: 254,778 shares
- Richard Busch: 254,778 shares
- Michael Broukhim: 270,701 shares
These shares were issued through one-for-one conversions after the RSUs vested on the date of the annual meeting.
ABTC Stock Remains Under Pressure
Despite the reverse stock split announcement, American Bitcoin’s shares continued to decline.
ABTC closed Wednesday’s trading session at $0.74, down 4.17% for the day after trading between $0.73 and $0.78.
The stock has fallen approximately 17% over the past week and remains down nearly 60% since the beginning of the year, according to Google Finance data.
Selling pressure continued into Thursday’s session, with shares dropping another 3.15% to around $0.72 after touching an intraday high of $0.75 and a low of $0.68.
Bitcoin Weakness Adds to Market Pressure
The decline in ABTC shares has coincided with broader weakness across the cryptocurrency market.
Bitcoin was trading near $59,360, remaining below the important $60,000 level after investors reacted to the latest U.S. Personal Consumption Expenditures (PCE) inflation report.
The inflation data reinforced expectations that the Federal Reserve could maintain higher interest rates for longer, reducing investor appetite for risk assets such as cryptocurrencies and Bitcoin-related stocks.
As a result, many companies with significant Bitcoin exposure have experienced increased volatility alongside the broader crypto market.
The Bottom Line
American Bitcoin has taken an important corporate step by approving a 1-for-15 reverse stock split, a move aimed at increasing its share price while leaving shareholder value unchanged.
The company also strengthened its governance by appointing a new board member and retaining KPMG as its independent auditor. Meanwhile, its Bitcoin treasury continues to grow, with holdings exceeding 7,500 BTC.
However, despite these developments, ABTC shares remain under pressure as broader market uncertainty, falling Bitcoin prices, and macroeconomic concerns continue to weigh on investor sentiment.
Whether the reverse stock split helps improve market confidence will likely depend not only on the company’s execution but also on the overall direction of Bitcoin and the broader cryptocurrency market.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Investors should conduct their own research before investing in cryptocurrencies or publicly traded companies.
