Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 556

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 556
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606. As a result, the Bitcoin was not derecognized upon transfer as Parent retains a repurchase option. Due to the redemption right and ABTC’s continued economic exposure to the Bitcoin, the pledged Bitcoin is separately classified as Digital assets — pledged for miner purchaseon the audited condensed combined balance sheet, which represents restricted Bitcoin as of December 31, 2024. Because the pledge Bitcoin remains with Parent and was not part of the assets transferred to ABTC on March 31, 2025, it is not included on the unaudited combined balance sheet of ABTC as of March 31, 2025. ABTC recorded a Bitcoin redemption right derivative asset with an initial fair value of $15.1 million. See Note 7 for further information on this derivative asset.

F-89

American Bitcoin Corp.
Notes to the Combined Financial Statements Note 5. Property and equipment, net The components of property and equipment were as follows:

|                                   | (in USD thousands) |   | March 31, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:----------------------------------|:-------------------|:--|----------:|:--|:----|:--|-------------:|:--|
| Miners and mining equipment       |                    | $ |   158,280 |   |     | $ |       74,230 |   |
| Less: Accumulated depreciation    |                    |   |   (37,168 | ) |     |   |      (31,141 | ) |
| Total property and equipment, net |                    | $ |   121,112 |   |     | $ |       43,089 |   |

Depreciation and amortization expense related to property and equipment was $6.4 million and $7.1 million for the three months ended March 31, 2025, and March 31, 2024, respectively. Note 6. Deposits and prepaid expenses The components of deposits and prepaid expenses are as follows:

| (in USD thousands)                  |     | March 31, 
 2025      |   |     | December 31, 
 2024         |        |
|:------------------------------------|:----|:----------|:--|:----|:-------------|-------:|
| Deposits for miners                 |     | $         | — |     | $            | 31,951 |
|