Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 543

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 543
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 parent investment on the unaudited condensed balance sheets. Subsequent to March 31, 2025, ABTC has set up its own bank accounts to appropriately settle its liabilities. Prior to the effectiveness of the Transactions on March 31, 2025, ABTC was not a co -obligoron Parent’s third -party, long -termdebt obligations nor is ABTC expected to pay any portion of Parent’s third -party, long -termdebt. However, proceeds from Parent’s third -partydebts were used to finance ABTC’s purchase of ASICs or directly used for Bitcoin mining -relatedactivities and were included in ABTC’s unaudited condensed combined financial statements. While ABTC is not a legal obligor, certain Bitcoin mining assets of ABTC were pledged as collateral as disclosed in Note 4. As of March 31, 2025, following the effectiveness of the Transactions, ABTC is no longer connected to any Parent debt. The accompanying unaudited condensed and combined financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting. While these statements reflect all normal recurring adjustments which are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all the information and footnotes required by GAAP for complete financial statements. As such, the information included in these unaudited condensed and combined financial statements should be read in conjunction with the ABTC’s combined annual financial statements for the year -endedDecember 31, 2024 and 2023 and related notes. Interim results are not necessarily indicative of results for a full year. The U.S. Dollar is the functional and presentation currency of ABTC. Significant accounting policies followed by ABTC in the preparation of the accompanying Unaudited Condensed Combined Financial Statements are summarized below. Note 2. Significant accounting policies and recent accounting pronouncements Recent accounting pronouncements ABTC continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects ABTC’s financial reporting, ABTC undertakes a study to determine the consequences of the change to its unaudited condensed and combined financial statements and ensures that there are proper controls in place to ascertain that ABTC’s unaudited condensed and combined financial statements properly reflect the change. In January 2025, the Financial Accounting Standards Board (“FASB”) issued Update ASU 2025 -01,