Trump-backed crypto miner ABTC to conduct 1-for-15 reverse stock split

American Bitcoin (ABTC), a cryptocurrency mining firm backed by the Trump family, announced it will conduct a 1-for-15 reverse stock split to maintain its Nasdaq listing qualification. The split will take effect on July 2, U.S. Eastern Time, with the adjusted share price reflected when trading resumes on July 6 under the existing ABTC ticker. The company stated the measure, which was approved by its shareholders and board of directors, is intended to meet Nasdaq's minimum share price requirement.