American Bitcoin has received shareholder approval for a one-for-15 reverse stock split, a decision made during the company’s 2026 annual meeting. This strategic move, aimed at enhancing the per-share trading price, will take effect as soon as practicable. The reverse split is designed to reduce the number of outstanding shares, while maintaining the total number of authorized shares, a common practice for companies seeking to bolster their market presence.
In addition to the stock split, shareholders elected Asher Genoot as a Class I director, a position he will hold until 2029, and reappointed KPMG as the independent auditor for the company. This reappointment highlights KPMG’s ongoing role in overseeing American Bitcoin’s financial practices.
Despite the challenges faced in the market, American Bitcoin continues to maintain a significant cryptocurrency portfolio, with over 7,500 Bitcoin assets. This positions the organization among the largest publicly listed corporate holders of Bitcoin. The company is notably supported by prominent figures like Eric Trump and Donald Trump Jr.
A recent filing with the U.S. Securities and Exchange Commission also indicated new share issuances resulting from the vesting of restricted stock units for directors. Justin Mateen and Richard Busch received 254,778 Class A shares each, while Michael Broukhim was granted an even larger allocation of 270,701 shares.
The shares of American Bitcoin faced a downturn, closing down 4.17% at $0.74 on Wednesday, followed by a further decline of 3.15% in early Thursday trading to around $0.72. This represents a steep decrease of approximately 60% since the beginning of the year. The company’s stock performance coincides with heightened scrutiny from lawmakers regarding cryptocurrency businesses associated with the Trump family and ongoing pressures in the broader cryptocurrency market, influenced by recently released U.S. inflation data. At the time of reporting, Bitcoin was valued at $59,681.17.
