Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 501

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 501
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gregated between federal, state, and foreign. The new standard is effective for the Company for its fiscal year beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023 -08, Intangible — Goodwill and Other — Crypto Assets (Subtopic 350 -60 )(“ASC 350 -60”). ASC 350 -60requires entities with certain crypto assets to subsequently measure such assets at fair value, with changes in fair value recorded in net income in each reporting period. Crypto assets that meet all the following criteria are within the scope of the ASC 350 -60: (1)meet the definition of intangible assets as defined in the Codification; (2)do not provide the asset holder with enforceable rights to or claims on underlying goods, services, or other assets; (3)are created or reside on a distributed ledger based on blockchain or similar technology; (4)are secured through cryptography; (5)are fungible; and (6)are not created or issued by the reporting entity or its related parties. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. Bitcoin, which is the sole crypto asset mined by the Company, meets each of these criteria. For all entities, the ASC 350 -60amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance). If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. The Company has elected to early adopt the new guidance effective January 1, 2024 resulting in a $740,000 cumulative -effectchange to adjust the Company’s bitcoin held on January 1, 2024 with the corresponding entry to beginning accumulated deficit. In November 2024, the FASB issued ASU 2024 -03, “Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40).” The amendments require the disclosure of specified information about certain costs and expenses including purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization recognized as part of oil and gas