Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 390

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 390
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 |   |     |      |     300 |   |     |   |       (300 | ) |
| Non-recurring transactions(1)                                                                       |     |      |        1,590 |   |     |      |   7,275 |   |     |   |     (5,685 | ) |
| Loss from discontinued operations (net of income tax benefit of $1.6 million and nil, respectively) |     |      |        4,816 |   |     |      |       — |   |     |   |      4,816 |   |
| Stock-based compensation expense                                                                    |     |      |        9,173 |   |     |      |   9,107 |   |     |   |         66 |   |
| Adjusted EBITDA                                                                                     |     | $    |      517,608 |   |     | $    |  37,026 |   |     | $ |    480,582 |   |

____________ (1)Non -recurringtransactions for the year ended December 31, 2024 represent approximately $1.6 million of restructuring costs. Non -recurringtransactions for the year ended December 31, 2023 represent approximately $7.3 million related to a sales tax accrual. Revenue Revenue was $71.5 million and $65.0 million for the years ended December 31, 2024 and 2023, respectively. This $6.5 million increase was primarily driven by an increase in the average revenue per Bitcoin mined to $60,436 from $30,398 for the years ended December31, 2024 and 2023, respectively. This increase was partially offset by a reduction in Bitcoin mined (ABTC mined 1,184 Bitcoin during the year ended December31, 2024 versus 2,138 Bitcoin mined during the year ended December31, 2023), due to an increase in network difficulty and the halving event in April 2024 reducing block rewards from 6.25 to 3.125 Bitcoin per block. Cost of revenue Cost of revenue was $39.5 million and $43.6 million for the years ended December 31, 2024 and 2023, respectively. This $4.1 million decrease was primarily due to relocating the Bitcoin miner fleet from higher cost hosted sites to lower cost self -miningsites and the deployment of Hut 8’s proprietary energy