Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 492

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 492
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 or liabilities. Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. Cash and Cash Equivalents The Company considers all short -termhighly liquid investments with a remaining maturity at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates their fair value. The Company maintains its cash and cash equivalents in banks insured by the Federal Deposit Insurance Corporation (“FDIC”) in accounts that at times may be in excess of the federally insured limit of $ 250,000per bank. The Company minimizes this risk by placing its cash deposits with major financial institutions. As of December 31, 2024, and 2023, the Company had $ 435,000and $ 665,000in excess of the federal insurance limit, respectively. Also, the Company held cash for third parties in the amount of $ 8,000as of December 31, 2023. The Company has never suffered a loss due to such excess balances. Accounts Receivable As of December 31, 2024, the Company had no accounts receivable. As of December 31, 2023, accounts receivable includes amounts due from Sphere 3D under the Company’s master services agreement with Sphere 3D. The Company collected these amounts in the first quarter of 2024. Prepaid Expenses Prepaid expenses consist of payments for an insurance policy and are expected to be realized and consumed within twelve months after the reporting period. Digital Assets Held for Other Parties In accordance with the Securities and Exchange Commission’s Staff Accounting Bulletin 121, the Company records an obligation liability, and a corresponding digital asset held for other parties’ assets based on the fair value of the cryptocurrency held for other parties at each reporting date. In accordance with ASC 820, the Company has fair valued these digital assets and the associated liability by using the quoted price of Bitcoin at closing by its Principal Market, Coinbase, on the reporting date. This balance also includes the cash balance held for other parties. Digital Assets Digital assets or cryptocurrencies (including Bitcoin, Ethereum, DAI, and USDT) are included in current assets in the accompanying balance sheets. Cryptocurrencies purchased are recorded at cost and cryptocurrencies obtained by the Company through its sale of common stock are accounted for based on the value of the specific digital asset on the date received. F-44 Gryphon Digital Mining, Inc. Notes to the Consolidated Financial Statements For