Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 588

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 588
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 2024, Parent had three stock -basedcompensation plans, the Hut 8 Mining Corp. Omnibus Long -TermIncentive Plan, the Hut 8 Corp. Rollover Option Plan, and the Hut 8 Corp. 2023 Omnibus Incentive Plan. The components and classification of stock -basedcompensation expense related to stock awards issued under these plans have been allocated from Parent to ABTC. The total stock -basedcompensation expense allocated to ABTC for the years ended December 31, 2024, 2023, and 2022 was $9.2 million, $9.1 million, and $4.9 million, respectively. Stock -basedcompensation expense is included in general and administrative expenses in the Combined Statements of Operations and Comprehensive Income (Loss) for all the periods presented. Note 13. Income taxes The accompanying Combined Financial Statements reflect the income tax provision and related balances of Bitcoin mining activities as historically reported by Parent in its financial statements for the years ended December 31, 2024, 2023 and 2022. The income tax provision amounts presented in the Combined Financial Statements have been prepared following the separate return method, as if ABTC had filed separate income tax returns, although it was not a separate legal entity for tax filing purposes for the periods presented. Under the separate return method, current and deferred income taxes are allocated to ABTC in a manner that is systematic, rational, and consistent with the asset and liability method prescribed by ASC 740, “Income Taxes.” ABTC’s provision for income taxes may differ from the amounts reflected in Parent’s consolidated financial statements due to the following: (1) differing interpretations of standalone tax positions; (2) differing financial statement periods under audit; and (3) ABTC used actual amounts from the filed tax returns, rather than estimates from the provision, for the years ended December 31, 2023 and 2022. This approach yields deferred assets and liabilities that differ from those that otherwise would have been previously recorded for ABTC’s operations in the prior year’s tax provision. This disparity is because of F-119

American Bitcoin Corp.
Notes to the Audited Combined Financial Statements Note 13. Income taxes (cont.) tax return true -upsthat, within the carve -outsetting, will be recorded in the appropriate periods. ABTC has analyzed the differences and adjusted for true -upsthat result from information that existed as of the date of the financial statements and not adjusted