Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 594

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 594
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 $ | 392 |

F-120

American Bitcoin Corp.
Notes to the Audited Combined Financial Statements Note 13. Income taxes (cont.) A reconciliation of the U.S. federal statutory income tax rates to ABTC’s effective tax rate is as follows: Continuing Operations

| (in USD thousands)                                             
 December 31, 2024                                              |     | Year Ended |          |   |     |        | December 31, 2023 |     |   |         |   |     |         | December 31, 2022 |     |   |         |   |     |        |    |
|:---------------------------------------------------------------|:----|:-----------|---------:|:--|:----|-------:|:------------------|:----|:--|--------:|:--|:----|--------:|:------------------|:----|:--|--------:|:--|:----|-------:|:---|
| Tax benefit (provision) computed at the federal statutory rate |     | $          | (103,607 | ) |     |  21.00 | %                 |     | $ |  (4,370 | ) |     |   21.00 | %                 |     | $ |  21,966 |   |     |  21.00 | %  |
| State taxes, net of federal tax benefit                        |     |            |    3,263 |   |     |  (0.66 | )%                |     |   |     723 |   |     |   (3.47 | )%                |     |   |    (158 | ) |     |  (0.15 | )% |
| Permanent differences                                          |     |            |    3,317 |   |     |  (0.67 | )%                |     |   |   2,600 |   |     |  (12.49 | )%                |     |   |    (199 | ) |     |  (0.19 | )% |
| Stock based compensation                                       |     |            |      364 |   |     |  (0.07 | )%                |     |   |    (677 | ) |     |    3.25 | %                 |     |   |    (848 | ) |     |  (0.81 | )% |
| Foreign earnings taxed at a higher rate