Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 26

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 26
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 table summarizes the carrying
amount of the Company’s mining equipment as of:

    June 30,  2025  
    December 31,  2024 
  
    Mining equipment 

    Balance, beginning of year 
    $17,109,000  
    $15,978,000 
  
    Additions 
     686,000  
     1,573,000 
  
    Miners sold 
     -  
     (442,000)
  
    Miners discarded 
     (132,000) 
     - 
  
    Ending balance 
    $17,663,000  
    $17,109,000 

    Accumulated depreciation 

    Balance, beginning of year 
    $14,115,000  
    $3,062,000 
  
    Additions 
     1,586,000  
     11,179,000 
  
    Miners sold 
     -  
     (126,000)
  
    Miners discarded 
     (49,000) 
     - 
  
    Ending balance 
    $15,652,000  
    $14,115,000 
  
    Net carrying amount 
    $2,011,000  
    $2,994,000 

Purchase of mining machines

In March 2025, the Company purchased 1,900 SI
9JPro series machines, with an extended warranty, from RepairBit. The purchase price was a cash payment of approximately $608,000 and
the issuance of $100,000 of the Company’s common stock at a price of $0.40 per share. The common stock had a fair market price of
approximately $86,000 on the commitment date. As of June 30, 2025, the Company paid $558,000 of the $608,000 cash payment due. With the
termination of the RepairBit Acquisition (as disclosed above), RepairBit agreed to a cash payment in lieu of the $100,000 of the Company’s
common stock. The remaining purchase prices, payments of $50,000 and $100,000 were paid in July 2025.

17

NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

The following table summarizes accounts payable and accrued liabilities,
as of:

    June 30,  2025  
    December 31,  2024