Trump-Backed American Bitcoin Falls to Record Low Before Reverse Stock Split

American Bitcoin, the crypto mining company linked to Donald Trump Jr. and Eric Trump, closed at an all time low of 62 cents on Wednesday, down 8.4% for the day. The stock ticked up slightly after hours, gaining 4.5% to trade near 65 cents.

Reverse Split Set For Thursday

The company will carry out a 1-for-15 reverse stock split after markets close Thursday, with split-adjusted trading starting Monday under the same ABTC ticker. Every 15 shares will become one, cutting outstanding shares from over 1 billion to roughly 73 million. Shareholders approved the move on June 22. The split aims to keep the stock above Nasdaq’s $1 minimum bid rule, which allows delisting after 30 days below that price.

Stock Down Sharply This Year

ABTC has lost more than 63% of its value in 2026 and over 92% since it began trading in September. The company reported an $81.7 million first quarter loss in May. Bitcoin itself trades near $60,000, down 32% year to date.