Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 574

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 574
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 (18,437 | ) |     |   |         — |     |   | (18,437     | ) |     |   |            — |
| Bitcoin redemption option |                    |                                          |       18,076 |   |     |   |         — |     |   | —           |   |     |   |       18,076 |

Digital assets are made up of $424.3 million of Bitcoin pledged as collateral for debt and for miner purchase and $525.2 million held in custody.

|                | (in USD thousands) | Fair value measured at December 31, 2023 |        Total 
     carrying 
     value at 
 December 31, 
         2023 |     |   |    Quoted 
    prices 
 in active 
   markets 
 (Level 1) |     |   | Significant 
 other       
 observable  
 inputs      
 (Level 2)   |     |   | Significant  
 unobservable 
 inputs       
 (Level 3)    |
|:---------------|:-------------------|:-----------------------------------------|-------------:|:----|:--|----------:|:----|:--|:------------|:----|:--|:-------------|
| Digital assets |                    | $                                        |      388,131 |     | $ |   388,131 |     | $ | —           |     | $ | —            |

Digital assets are made up of $100.6 million of Bitcoin pledged as collateral for debt and for miner purchases and $287.6 million held in custody. In determining the fair value of its digital assets, ABTC uses quoted prices as determined by ABTC’s principal market, which is Coinbase Prime. As such, ABTC’s digital assets were determined to be Level 1 assets. See Digital assetsbelow for a description of ABTC’s Digital assetaccounting policy. In estimating the fair value of its covered call options (as defined below), ABTC uses the Black -Scholespricing model, which includes several inputs and assumptions including the market price of the underlying asset (Bitcoin), the underlying asset’s implied volatility, the risk -freeinterest rate, and the expected term of the options. The expected term of the options is the contractual term of the options given the options can only be exercised on the expiry date. ABTC determined that the covered call options are Level 2 liabilities given all inputs are observable, but the options themselves are not traded in an active market. ABTC estimates the fair