Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 368

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 368
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 |   |     |  100.0 | %  |
| Merger and acquisition costs              |     |      | (1,194,000 | )          |     |      | —           |   |     |         | (1,194,000 | ) |     | (100.0 | )% |
| Interest expense                          |     |      |     (3,000 | )          |     |      | (330,000    | ) |     |         |    327,000 |   |     |   99.1 | %  |
| Total other expense                       |     | $    |   (814,000 | )          |     | $    | (10,184,000 | ) |     | $       |  9,370,000 |   |     |   92.0 | %  |

203

Unrealized loss on marketable securities For the three months ended March 31, 2025 unrealized loss on marketable securities was $66,000, as compared to an unrealized loss of $216,000 for the three months ended March 31, 2024. The loss for the three months ended March 31, 2025 related to a decrease in the fair market value of the underlying securities held. Gain on extinguishment of accounts payable On March 7, 2025, the Company and Sphere 3D Corp. (“ Sphere 3D”) entered into a settlement and release agreement on mutually acceptable terms. The Settlement Agreement fully resolved all pending litigation between the Company and Sphere and each party fully released the other party from any known or unknown and unsuspected claims. As such the Company was relieved of its $449,000 liability. Change in fair value of Bitcoin Note During the year ended December 31, 2024, the Company had a note payable denominated in Bitcoin, which was accounted for under the fair value method of accounting. For the three months year ended March 31, 2024, the Company recognized a $9,638,000 increase in the fair value of notes payable. The note payable was settled in October 2024; therefore, the Company did not incur a fair value change for the three months ended March 31, 2025. Merger and acquisition costs The Company was in the process of evaluating several strategic business acquisitions. During the three months ended March 31, 2025, the Company canceled the Giga Purchase Agreement and the Erikson Purchase