Reverse stock split to “save the shell,” the standard play for mining firms to get through the winter—7,500 BTC is the real ace up their sleeve.

American Bitcoin, a U.S. bitcoin mining company, announced that it will implement a 1:15 reverse stock split next week, effective after Thursday’s market close, to meet Nasdaq’s minimum $1 share price requirement. A/B shares will be consolidated from 15 into 1, reducing outstanding shares from about 1.09 billion to about 73 million. The stock traded at about $0.64 on Wednesday, down more than 64% year-to-date. In the first quarter, due to unrealized losses from bitcoin holdings, the net loss was about $81.8 million. It currently holds about 7,500 BTC, the 16th-largest publicly listed bitcoin holder globally.