Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 393

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 393
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,275 |   |     |      |        — |   |     |   |      7,275 |   |
| Impairment on long-lived assets  |     |      |            — |   |     |      |   49,667 |   |     |   |    (49,667 | ) |
| Gain on debt extinguishment      |     |      |      (23,683 | ) |     |      |        — |   |     |   |    (23,683 | ) |
| Stock-based compensation expense |     |      |        9,107 |   |     |      |    4,933 |   |     |   |      4,174 |   |
| Adjusted EBITDA                  |     | $    |       37,026 |   |     | $    |  (12,984 | ) |     | $ |     50,010 |   |

____________ (1)Non -recurringtransactions for the year ended December 31, 2023 represent approximately $7.3 million related to a sales tax accrual. Revenue Revenue was $65.0 million and $65.7 million for the years ended December 31, 2023 and 2022, respectively. This $0.7 million decrease was primarily driven by a reduction in Bitcoin mined of 236 Bitcoin (ABTC mined 2,138 Bitcoin during the year ended December 31, 2023 versus 2,374 Bitcoin mined during the year ended December 31, 2022), primarily due to an increase in network difficulty. The decrease in Bitcoin mined was partially offset by an increase in the average revenue per Bitcoin mined to $30,398 in December31, 2023 from $27,679 in December31, 2022. Cost of revenue Cost of revenue was $43.6 million and $42.4 million for the years ended December 31, 2023 and 2022, respectively. This $1.2 million increase was primarily driven by an increase in power consumption due to having more Bitcoin miners online for the month of December 2023 as a result of the Hut Business Combination. Depreciation and amortization Depreciation and amortization expense was $14.4 million and $16.8 million for the years ended December 31, 2023 and 2022, respectively. This $2.4 million decrease was primarily driven by the lower net book value of