Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 385

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 385
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 of ABTC, in exchange for newly issued shares of Class B Common Stock of ADC, representing 80% of the total and combined voting power and 80% of the issued and outstanding equity interests of ADC after giving effect to the Contributions. In connection with the Contributions, ADC was renamed American Bitcoin Corp. and became a majority -ownedsubsidiary of Hut 8. In connection with the Contributions, Hut 8 and ABTC entered into the MMSA and the MCSA providing for Hut 8 and its personnel to perform day -to-daycommercial and operational management services and Bitcoin mining colocation services to ABTC, respectively, in each case on an exclusive basis for so long as such agreements remain in effect. Hut 8 and ABTC also entered into the Shared Services Agreement, pursuant to which Hut 8 and its personnel would provide back -officesupport services to ABTC and a Put Option Agreement, pursuant to which Hut 8 has the right to sell to ABTC any Bitcoin miners purchased by Hut 8 under an agreement it has with Bitmain to purchase up to approximately 17,280 Bitmain U3S21EXPH Bitcoin miners for a maximum aggregate purchase price of approximately $320million, not including any applicable tariffs, duties or similar charges. For additional information, see “ ABTC’s Business –– Material Agreements.” On March31, 2025, through the Contributions, ABTC became a majority -ownedsubsidiary of Hut 8. Basis of Presentation ABTC’s operations were historically operated as the “Bitcoin mining” sub -segmentof Hut 8’s “Compute” segment and not as a standalone company. ABTC’s combined financial statements included elsewhere in this proxy statement/prospectus, representing the historical assets, liabilities, operations and cash flows directly attributable to ABTC, have been prepared on a carve -outbasis through the use of a management approach from Hut 8’s consolidated financial statements and accounting records and are presented on a stand -alonebasis as if the operations have been conducted independently from Hut 8. Historically, separate financial statements have not been prepared for ABTC and it has not operated as a standalone business from Hut 8. ABTC’s combined financial statements included elsewhere in this proxy statement/prospectus have been prepared in accordance with U.S. GAAP. On November30, 2023, U.S. Data Mining Group, Inc. (“ USBTC”), Legacy Hut, and Hut 8 entered into a business combination agreement pursuant to which Legacy Hut and