Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 486

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 486
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 financing activities:                    |     |      |           |   |     |      |           |
| Accrued expenses for issuance of common stock                   |     | $    |   322,000 |   |     | $    |   845,000 |
| ASC 2023-08 fair value adjustment                               |     | $    |   740,000 |   |     | $    |         — |
| Fair value of common stock issued for settlement of BTC Note    |     | $    | 5,072,000 |   |     | $    |         — |
| Fair value of warrants issued for settlement of BTC Note        |     | $    | 3,048,000 |   |     | $    |         — |
| Promissory note issued for settlement of BTC Note               |     | $    | 5,000,000 |   |     | $    |         — |
| Digital assets used for principal and interest payment BTC Note |     | $    | 3,665,000 |   |     | $    | 7,770,000 |

The accompanying notes are an integral part of these consolidated financial statements

F-40 Gryphon Digital Mining, Inc. Notes to the Consolidated Financial Statements For the Years Ended December 31, 2024 and 2023 NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Nature of Operations Gryphon Digital Mining, Inc. (“Gryphon”), which originally began operations as Ivy Crypto, Inc., was incorporated under the provisions and by the virtue of the provisions of the General Corporation Law of the State of Delaware on October 22, 2020, with its office located in Las Vegas, Nevada. Gryphon operates a digital asset (commonly referred to as cryptocurrency) mining operation using specialized computers equipped with application -specificintegrated circuit (ASIC) chips (known as “miners”) to solve complex cryptographic algorithms in support of the Bitcoin blockchain (in a process known as “solving a block”) in exchange for cryptocurrency rewards (primarily Bitcoin). Gryphon became a publicly held entity in February 2024 upon the completion of a reverse merger transaction (the “Merger”) with Akerna Corp., herein referred to as we, us, our, the Company or Akerna. These consolidated financial statements and notes thereto, including disclosures for certain activities up to and including the February 9, 2024 (the “Effective Date