Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 454

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 454
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 amounts remaining in relevant expense captions that are not separately disaggregated quantitatively as well as the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The standard will be effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. We are currently evaluating the impact that the adoption of the provisions of the ASU will have on our unaudited condensed consolidated financial statements. We are currently evaluating the impact that the adoption of the provisions of the ASU will have on our unaudited condensed consolidated financial statements.

NOTE 2 — DIGITAL ASSETS

The following table summarizes the digital currency transactions of Bitcoin for:

| ASC 2023-08 fair value adjustment                           |     | As of     
 March 31, 
 2025      |          — |   |     | As of        
 December 31, 
 2024         |     739,000 |   |
|:------------------------------------------------------------|:----|:----------|-----------:|:--|:----|:-------------|------------:|:--|
| Digital assets beginning balance                            |     |           |  1,016,000 |   |     |              |   2,097,000 |   |
| Revenue recognized from mined digital assets                |     |           |  1,545,000 |   |     |              |  20,539,000 |   |
| Cost of digital assets sold for cash                        |     |           | (1,647,000 | ) |     |              | (20,260,000 | ) |
| Cost of digital assets transferred for noncash expenditures |     |           |          — |   |     |              |  (3,665,000 | ) |
| Fair value gain on digital assets                           |     |           |   (127,000 | ) |     |              |   1,566,000 |   |
| Digital assets ending balance                               |     | $         |    787,000 |   |     | $            |   1,016,000 |   |

For the three months ended March 31, 2025 and 2024, the Company used digital assets with a value of $ and $, respectively, for the payment of principal and interest for its notes payable.

F-17

Gryphon Digital Mining, Inc.
Notes to the Unaudited Condensed Consolidated Financial Statements