Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 461

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 461
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 assurance can be given that the transactions contemplated by the Purchase Agreement will close. The Court also granted an amended interim financing order approving the Company as a debtor in possession (“DIP”) lender to Erikson. As part of the Erikson Purchase Agreement, the Company provided DIP interim financing to Erikson to cover its operating expenses and legal and professional fees during the period between December 9, 2024 and the applicable Outside Date. Upon closing, The Company may offset some or all of the interim financing provided against the purchase price. On February 14, 2025, the Company gave Erikson notice of the cancellation of the Erikson Purchase Agreement, and expensed approximately $ 608,000of deposits classified under the Merger and acquisition expenses in the accompanying unaudited condensed consolidated statement of operations

NOTE 5 — MINING EQUIPMENT, NET

Mining equipment consisted of and units of bitcoin mining machines as of March 31, 2025 and December 31, 2024, respectively.

|                            |     |   |  March 31, 
       2025 |     |   | December 31, 
         2024 |   |
|:---------------------------|:----|:--|-----------:|:----|:--|-------------:|:--|
| Mining equipment           |     |   |            |     |   |              |   |
| Balance, beginning of year |     | $ | 17,109,000 |     | $ |   15,978,000 |   |
| Additions                  |     |   |    686,000 |     |   |    1,573,000 |   |
| Disposals                  |     |   |          — |     |   |     (442,000 | ) |
| Ending balance             |     | $ | 17,795,000 |     | $ |   17,109,000 |   |
| Accumulated depreciation   |     |   |            |     |   |              |   |
| Balance, beginning of year |     | $ | 14,115,000 |     | $ |    3,062,000 |   |
| Additions                  |     |   |  1,071,000 |     |   |   11,179,000 |   |
| Disposals                  |     |   |          — |     |   |     (126,000 | ) |
| Ending balance             |