Good morning, welcome to American Bitcoin's 2026 annual meeting of shareholders. I am Mike Ho, CEO of American Bitcoin. It is my pleasure to welcome you all to this meeting and to introduce Asher Genoot, our Executive Chairman.
Thank you, Mike, and welcome everyone. Thank you for joining us here today. We are excited to be hosting American Bitcoin's 2026 Annual Meeting and to be doing so virtually, which allows an attendance by a greater number of our stockholders. I will act as chair of the meeting, and Aliza Rana, our general counsel and corporate secretary, will serve as secretary for this meeting. The company has also appointed Natalie Hairston to act as Inspector of Election. Natalie is with us and has taken the oath of Inspector of Election earlier today. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in your notice of annual meeting and proxy statement. The meeting will be conducted in accordance with the rules of conduct that are available on the meeting website.
Our board of directors fixed April 23rd, 2026, as the record date for determining stockholders entitled to vote at this meeting. We have an affidavit certifying that a notice of this meeting was mailed to all stockholders of record as of this record date commencing on April 27th 2026. A copy of the notice of the meeting and the affidavit of distribution will be incorporated into the minutes of this meeting.
The stockholder list shows that as of the record date, there were 1,060,449,416 shares of common stock outstanding and entitled to vote at this meeting, consisting of 328,224,513 shares of Class A common stock, 732,224,903 shares of Class B common stock, and no shares of Class C common stock. We are informed by the Inspector of Election that there are represented in person or by proxy shares of common stock representing at least 6,851,162,602,528 votes or approximately 93.56% of the voting power on the record date.
Since this represents at least a majority of the voting power of the outstanding shares of common stock of the company entitled to vote at the meeting, a quorum is present for purposes of transacting business.
I will now proceed with the formal business of this meeting. We have three proposals to be voted on at today's meeting. Voting will commence after all proposals have been presented. The first proposal is the election of Asher Genoot as a Class I director for a three-year term of office expiring at our 2029 annual meeting of stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, or removal. Our board of directors recommends that you vote in favor of this proposal. No other persons have been nominated in accordance with the company's bylaws. Therefore, nominations are now closed. The second proposal is a ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026. Our board of directors recommends that you vote in favor of this proposal.
The final proposal is the approval of an amendment to our amended and restated certificate of incorporation to effect, at the discretion of our board of directors, a reverse stock split with respect to our outstanding shares of common stock at a ratio within a range of 1/ 5 to 1 / 40 as further described in the proxy statement. Our board of directors recommends that you vote in favor of this proposal.
It is 10:04 A.M. Eastern Time on June 22nd, 2026. The polls are now open. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. I will now pause to allow for any votes to be submitted. Now that everyone has had the opportunity to vote, I now declare the polls for the 2026 Annual Stockholder Meeting closed.
We have been informed by the Inspector of Election that the preliminary vote report shows that Asher Genoot has been duly elected as the Class I director, KPMG LLP has been ratified as our independent registered public accounting firm for the fiscal year ending December 31, 2026, and the amendment to our amended and restated certificate of incorporation to effect, at the discretion of our board of directors, a reverse stock split has been approved. We will be reporting the final vote results on a current report on Form 8-K to be filed with the SEC within four business days.
There being no further business, the 2026 Annual Meeting of Stockholders of American Bitcoin is now adjourned. Thank you all for attending, and thank you for your continued support.
The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.