Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 452

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 452
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 |   |
| 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 $0 and $1,750,000, 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
For the Three Months Ended March 31, 2025 NOTE 2 — DIGITAL ASSETS (cont.) The following table presents the Company’s Bitcoin holdings as of:

|                              |     |   | March 31, 
      2025 |     |   | December 31, 
         2024 |
|:-----------------------------|:----|:--|----------:|:----|:--|-------------:|
| Number of Bitcoin held       |     |   |      9.53 |     |   |        10.93 |
| Carrying basis – per Bitcoin |     | $ |    90,258 |     | $ |       61,532 |
| Fair value – per Bitcoin     |     | $ |    82,534 |     | $ |       92,987 |
| Carrying basis of Bitcoin    |     | $ |   860,592 |     | $ |      672,259 |
| Fair value of Bitcoin        |     | $ |   787,000 |     | $ |    1,016,000 |

The carrying basis (or cost basis) represents the valuation of Bitcoin at the time the Company earns the Bitcoin through mining activities. The Company’s Bitcoin holdings are not subject to rehypothecation and do not serve as collateral for any existing loans or agreements. As of March 31, 2025 and December 31, 2024, the Company held no other crypto currency. As of March 31, 2025 and December 31, 2024, the Company held 100% of its Bitcoin in cold storage and nil in hot wallets, respectively. NOTE 3 — MARKETABLE SECURITIES In accordance with the Agreement and Plan of Merger, dated June 3, 2021, between Gryphon and Sphere 3D (as amended, the “Sphere 3D Merger Agreement”), the Company