CoinWorld News, American Bitcoin, a Bitcoin mining and reserve company backed by Eric Trump and Donald Trump Jr., announced that it will implement a 1:15 reverse stock split next week to meet Nasdaq's minimum $1 share price requirement. The reverse split will take effect after the close of trading on Thursday, with each 15 shares of Class A and Class B common stock being consolidated into 1 share, reducing the number of outstanding shares from approximately 1.09 billion to approximately 73 million. ABTC shares fell to an all-time low of about $0.64 on Wednesday, with a cumulative decline of over 64% year-to-date. The company previously disclosed a net loss of $81.8 million in the first quarter due to unrealized losses on its Bitcoin holdings. As of now, the company holds approximately 7,500 BTC, making it the 16th largest publicly traded Bitcoin holder globally.

BTC2.90%
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GateUser-318a7dc8
· 3h ago
From 1.09 billion shares down to 73 million, the share capital gets “slimmed,” the stock price is artificially inflated— even the Americans are playing this game too.
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YieldBento
· 3h ago
The project on stage with Trump’s brother also couldn’t withstand the bear market—down 64% within the year, and retail investors are once again left as the bagholders.
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BeGentleWithLeverage
· 4h ago
15-for-1: shares outstanding were cut from 1.09 billion to 73 million. The numbers game is played quite skillfully, but the Q1 loss of 81.8 million is real.
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OracleSkeptic
· 4h ago
7,500 BTC ranks 16th globally, the holdings are quite solid, but unfortunately the stock price is as soft as mud.
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ReefUnderTheMoonlight
· 4h ago
$0.64 historical low, after the stock split it's only around $9, barely scraping into the Nasdaq threshold.
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