Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 339

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 339
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 2020, Gryphon is based in Las Vegas, Nevada. Gryphon commenced its digital assets mining operations in September 2021. Founded in October 2020, Gryphon is based in Las Vegas, Nevada. Gryphon commenced its digital assets mining operations in September 2021. Gryphon operates approximately 5,880 Bitcoin miners from Bitmain Technologies Limited that Gryphon has installed at a third -partyhosted mining data center located in Pennsylvania. Revenue generated by the mining of Bitcoin is measured on a dollar per megawatt -hourbasis and is variable based on the price of Bitcoin, the measure of difficulty, transaction volume and global hash rates. Material Agreements Blockfusion Agreement On December 1, 2024, Gryphon entered into an agreement with Blockfusion USA, Inc. (“ Blockfusion”) to provide hosting services for 3,780 of Gryphon’s Bitcoin miners not to exceed 12 MW of allocated power (“ Blockfusion MSA”) for a period of twelve months, automatically renewing for one month extensions until terminated by either party (“ Term”). Gryphon is required to pay to Blockfusion a monthly facility fee of $13,000 per MW, for an aggregate of $156,000 (“ Facility Fee”) for standard levels of maintenance of Gryphon’s mining equipment, including fault diagnosis and software upgrades and racking and unracking of faulty machines. Gryphon’s monthly power usage will charge to Gryphon without a Blockfusion markup charge. At the signing of the Blockfusion MSA, Gryphon was required to pay (i) an initial monthly Facility Fee of $156,000 to be applied to the December 2024 Facility Fee, (ii) a deposit in the aggregate of $600,000, as follows $200,000 on December 6, 2024, $200,000 on January 1, 2025 and $200,000 on 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 of the date of this proxy statement/prospectus, the Cash Deposit has been paid and is not outstanding while the LOC Deposit remains outstanding. Subsequent to March 31, 2025, on