Bitmax Announces Reverse Stock Split to Improve Financial Structure

South Korean cryptocurrency accumulation firm Bitmax has announced a four-for-one reverse stock split, which will reduce its issued shares from 41,937,104 to 10,484,276. According to NS3.AI, this capital reduction aims to enhance the company's financial structure by offsetting its deficit. The decision follows challenges such as a delisting review and an unsuccessful attempt to acquire Solowin Holdings. As of February, Bitmax held 551 BTC, with its most recent purchase occurring in August of the previous year.