Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 356

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 356
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 been removed; and •Anchorage may convert half of the outstanding principal at a price of $1.10 per share of Gryphon Common Stock and the remaining half at a price of $1.50 per share of Gryphon Common Stock. The New Loan Agreement contains customary representations, warranties and agreements by Gryphon, customary conditions to closing, indemnification obligations of the Company and the purchasers, including for liabilities arising under the Securities Act, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Loan Agreement were made only for the purposes of such agreements and as of specific dates, were solely for the benefit of the parties to such agreements and may be subject to limitations agreed upon by the contracting parties. Pursuant to the New Anchorage Agreements, Gryphon also issued Anchorage the Anchorage Warrants. On May 10, 2025, Gryphon entered into a warrant amendment with Anchorage to amend the $1.50 Warrants. Pursuant to the Amendment, Gryphon reduced the exercise price of the $1.50 Warrants from $1.50 to $0.55 per share. The Anchorage Warrants were exercised in full and on a cashless basis on June24, 2025, resulting in the issuance of an aggregate of 4,384,470shares of Gryphon Common Stock. 201

Results of Operations Three Months ended March 31, 2025 compared to the three months ended March 31, 2024 The following table shows the Company’s results of operations for the three months ended March 31,

| Revenues                                  |     | 2025 |            |   |     | 2024 |             |   |     | Change 
 Dollar |            |   |     | Percentage |    |
|:------------------------------------------|:----|:-----|-----------:|:--|:----|:-----|------------:|:--|:----|:-------|-----------:|:--|:----|-----------:|:---|
| Mining activities                         |     | $    |  1,558,000 |   |     | $    |   7,490,000 |   |     | $      | (5,932,000 | ) |     |      (79.2 | )% |
| Operating cost                            |     |      |            |   |     |      |             |   |     |        |            |   |     |            |    |