Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 382

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 382
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 Hut 8’s “Compute” segment. See “— Basis of Presentation” below. ABTC, formerly known as ADC, was incorporated in the state of Delaware in November 2024. On March31, 2025, Hut8, ADC, and the stockholders of ADC entered into the Contribution Agreement, pursuant to which Hut 8 contributed to ADC substantially all of Hut 8’s wholly -ownedBitcoin miners, representing the business of ABTC, in exchange for newly issued shares of 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 Contributions. In connection with the Contributions, ADC was renamed American Bitcoin Corp. and became a majority -ownedsubsidiary of Hut 8. In connection with the Contributions, Hut 8 and ABTC entered into the MMSA and the MCSA providing for Hut 8 and its personnel to perform day -to-daycommercial and operational management services and Bitcoin mining colocation services to ABTC, respectively, in each case on an exclusive basis for so long as such agreements remain in effect. Hut 8 and ABTC also entered into the Shared Services Agreement, pursuant to which Hut 8 and its personnel would provide back -officesupport services to ABTC and a Put Option Agreement, pursuant to which Hut 8 has the right to sell to ABTC any Bitcoin miners purchased by Hut 8 under an agreement it has with Bitmain to purchase up to approximately 17,280 Bitmain U3S21EXPH Bitcoin miners for a maximum aggregate purchase price of approximately $320million, not including any applicable tariffs, duties or similar charges. For additional information, see “ ABTC’s Business –– Material Agreements.” On March31, 2025, through the Contributions, ABTC became a majority -ownedsubsidiary of Hut 8. Basis of Presentation ABTC’s operations were historically operated as the “Bitcoin mining” sub -segmentof Hut 8’s “Compute” segment and not as a standalone company. ABTC’s combined financial statements included elsewhere in this proxy statement/prospectus, representing the historical assets, liabilities, operations and cash flows directly attributable to ABTC, have been prepared on a carve -outbasis through the use of a management approach from Hut 8’s consolidated financial statements and accounting records and are presented on a stand -alonebasis as if the operations have been conducted independently from Hut 8. Historically, separate financial