Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 585

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 585
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 site, the long -livedassets of the site were fully written down. This resulted in a write down of $3.1 million, which is reflected in the Loss from discontinued operationsin ABTC’s Combined Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2024. There was no impairment on ABTC’s long -livedassets for the year ended December 31, 2023. During the year ended December 31, 2022, adverse changes in the business climate, including decreases in the price of Bitcoin throughout, 2022, and the resulting decrease in the market price of miners and mining equipment, indicated that an impairment triggering event had occurred. Testing performed indicated that the estimated fair value of the miners was less than their net carrying value as of December 31, 2022. An impairment charge of approximately $49.7 million was recognized, decreasing the net carrying value of these assets to their estimated fair value. There is considerable management judgment necessary to determine the estimated future cash flows and fair values of ABTC’s long -livedassets, and, accordingly, actual results could vary significantly from such estimates, which fall under Level 3 within the fair value measurement hierarchy (see discussion of fair value measurements in Note 2 ).

F-114

American Bitcoin Corp.
Notes to the Audited Combined Financial Statements Note 7. Deposits and prepaid expenses The components of deposits and prepaid expenses are as follows:

|                                     | (in USD thousands) | December 31, |   2024 |     |   |   2023 |
|:------------------------------------|:-------------------|:-------------|-------:|:----|:--|-------:|
| Deposits for miners                 |                    | $            | 31,951 |     | $ |      — |
| Prepaid insurance                   |                    |              |    135 |     |   |  1,331 |
| Electricity deposits                |                    |              | 10,564 |     |   |  9,814 |
| Total deposits and prepaid expenses |                    | $            | 42,650 |     | $ | 11,145 |

Note 8. Business Combinations As discussed in Note 1, Parent was party to the Business Combination which combined the businesses of USBTC and Legacy Hut. USBTC was identified as the accounting acquirer for financial statement reporting purposes. The following table details the final purchase price of the Business Combination consideration to the valuations