American Bitcoin Shrinks Float 93% as Reverse Split Takes Effect Thursday

American Bitcoin Corp, trading as ABTC on Nasdaq, will execute a 1-for-15 reverse stock split effective July 2, 2026. This action reduces the outstanding share count by over 90%. The Trump-backed Bitcoin mining firm experienced a new low share price on Wednesday, one day before the split takes effect after markets close on Thursday. The move significantly shrinks the company's float, following a period of price decline leading up to the corporate action.