Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 469

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 469
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 and software upgrades, and racking and unracking of faulty machines. The Company’s monthly power usage will charge to the Company without a Blockfusion markup charge. At the signing of the Blockfusion MSA, the Company was required to pay (i) an initial monthly Facility Fee of $ 156,000to be applied to the December 2024 Facility fee, (ii) a deposit in the aggregate of $ 600,000, as follows $ 200,000on December 6, 2024, $ 200,000on January 1, 2025 and $ 200,000on February 1, 2025 (“Cash Deposit”) and (iii) the Company is required, prior to January 27. 2025, and thereafter at all times during the Term, maintain an irrevocable letter of credit, or prior to January 31, 2025 maintain a cash deposit and thereafter at all times during the Term, in the amount of $ 1,200,000(“LOC Deposit”). As of the release date of these unaudited condensed consolidated Financial Statements, the Cash Deposit has been paid and is not outstanding while the LOC Deposit remains outstanding. F-25 Gryphon Digital Mining, Inc.
Notes to the Unaudited Condensed Consolidated Financial Statements
For the Three Months Ended March 31, 2025 NOTE 8 — COMMITMENTS AND CONTINGENCIES (cont.) The Company determined that the agreement with Blockfusion does not meet the definition of a lease in accordance with ASC 842, Leases. Mawson Agreement On January 3, 2025, Gryphon entered into a Master Co -LocationAgreement (the “Mawson Agreement”) with Mawson Hosting LLC (“Mawson”) with a right to host up to 5,880miners in Mawson’s facility in Midland, Pennsylvania. Pursuant to the Mawson Agreement, the Company is entitled to 20 MW of power at a cost of approximately $ 23.50per MW/hour paid monthly with a minimum fee of approximately $ 165,521per month, as well as certain other fees set forth in the agreement. The Mawson Agreement has an initial term of one year and may be terminated on sixty days’ notice. As of March 31, 2025, the Company has delivered 6,719bitcoin miners to Mawson. The Company determined that the agreement with Mawson does not meet the definition of