Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 540

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 540
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See accompanying Notes to Unaudited Condensed and Combined Financial Statements.

F-79 American Bitcoin Corp.
Notes to the Combined Financial Statements Note 1. Description of business, the transactions and basis of presentation Description of business American Bitcoin Corp. (“ABTC”), formerly known as American Data Centers Inc., is a Bitcoin mining company that was incorporated in the state of Delaware in November 2024. On March 31, 2025, through the Transactions (as defined below), ABTC became a majority -ownedsubsidiary of Hut 8 Corp. (including its consolidated subsidiaries, “Parent”). ABTC did not historically operate as a standalone company. Unless otherwise indicated, ABTC’s results of operations reflected herein refer to Parent’s Bitcoin mining operations, represented by the “Bitcoin mining” sub -segmentof Parent’s “Compute” segment. See “Basis of presentation” below. The business of ABTC is (i) the operation of application -specificintegrated circuit (“ASIC”) miners for the purpose of mining Bitcoin and (ii) the strategic accumulation of Bitcoin. The Transactions Transaction with American Data Centers Inc. On March 31, 2025, Parent, American Data Centers Inc. (“ADC”), and the stockholders of ADC entered into a Contribution and Stock Purchase Agreement (the “Agreement”), pursuant to which Parent contributed to ADC substantially all of Parent’s wholly -ownedASIC miners, representing the business of ABTC, in exchange for newly issued Class B Common Stock of ADC, representing 80% of the total and combined voting power and 80% of the issued and outstanding equity interests of ADC after giving effect to the issuance (the “Transactions”). In connection with the Transactions, ADC was renamed American Bitcoin Corp. and became a majority -ownedsubsidiary of Parent. The Transactions were effectuated as follows: On March 14, 2025, Parent created American Bitcoin Holdings LLC (“ABH”), a wholly -ownedsubsidiary, and on March 30, 2025, transferred substantially all of Parent’s wholly -ownedASIC miners to ABH as a transfer under common control. On March 31, 2025, under the Agreement, ABH acquired shares of Class B Common Stock of ADC representing 80% of the total and combined voting