Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 392

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 392
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 for the year ended December 31, 2023. This $5.3 million reduction in other income was primarily driven by a $17.7 million decrease in gain on debt extinguishment related to a conversion of approximately $37.9million of debt outstanding with Anchorage as of September27, 2024 (the “ Anchorage Debt”) which resulted in a gain of approximately $6.0 million of Hut 8 equity in 2024 compared to $23.7 million debt extinguishment related to a loan with NYDIG recorded in 2023. These decreases were partially offset by a $6.8 million gain on derivatives due to an increase in the mark -to -marketvalue of ABTC’s call options and Bitcoin redemption option and a $5.3 million decrease in interest expense due to lower average borrowings resulting from the conversion of the Anchorage Debt in 2024. Income tax (provision) benefit ABTC’s income tax provision was $59.6million for the year ended December 31, 2024, compared to income tax benefit of $18.8million for the year ended December 31, 2023. This increase was primarily due to deferred taxes related to the gain on the fair value of ABTC’s Bitcoin holdings, in addition to higher taxable income for the year ended December 31, 2024. Years Ended December 31, 2023 and 2022

| (in USD thousands)                                                       |     | 2023 |  Years Ended 
 December 31, |   |     | 2022 |          |   |     |   |   Increase 
 (Decrease) |   |
|:-------------------------------------------------------------------------|:----|:-----|-------------:|:--|:----|:-----|---------:|:--|:----|:--|-----------:|:--|
| Revenue                                                                  |     | $    |       64,981 |   |     | $    |   65,701 |   |     | $ |       (720 | ) |
| Cost of revenue (exclusive of depreciation and amortization shown below) |     |      |       43,609 |   |     |      |   42,391 |   |     |   |      1,218 |   |
| Operating (income) expenses:                                             |     |      |              |   |     |      |          |   |     |   |            |   |
| Depreciation and amort