Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 550

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 550
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 to generate cash flows on a portion of its Bitcoin held. These options do not qualify as accounting hedges under ASC 815. Accordingly, ABTC carries the covered call options at fair value and any gains or losses are recognized in profit or loss, respectively. Note 3. Discontinued Operations On March 4, 2024, Parent announced the closure of its Drumheller, Alberta mining site after analysis of ABTC’s operations. It was determined that the profitability of the Drumheller site had been impacted significantly by various factors, including elevated energy costs and underlying voltage issues. ABTC further assessed the profitability of the site which indicated that an impairment triggering event had occurred. Accordingly, with the planned closure of the Drumheller site, the long -livedassets of the site were fully written down. This resulted in a write down of $3.1 million, which is reflected in the Loss from discontinued operationsin ABTC’s unaudited condensed and combined statements of operations and comprehensive income (loss) for the three months ended March 31, 2024. There is considerable management judgment necessary to determine the estimated future cash flows and fair values of ABTC’s long -livedassets, and, accordingly, actual results could vary significantly from such estimates, which fall under Level 3 within the Fair value measurement hierarchy (see Note 2 for further discussion). The closure was completed as of December 31, 2024, and there were no discontinued operations for the three months ended March 31, 2025.

| (in USD thousands)                                                       
 2025                                                                     |     | Three Months End 
 March 31         | 2024 |     |   |        |   |
|:-------------------------------------------------------------------------|:----|:-----------------|:-----|:----|:--|-------:|:--|
| Revenue                                                                  |     | $                | —    |     | $ |    979 |   |
| Cost of revenue (exclusive of depreciation and amortization shown below) |     |                  | —    |     |   |  2,349 |   |
| Operating expenses:                                                      |     |                  |      |     |   |        |   |
| Depreciation and amortization                                            |     |                  | —    |     |   |    169 |   |
| General and administrative expenses                                      |     |                  | —    |     |   |     22 |   |
| Impairment of long-lived assets                                          |     |