Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 364

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 364
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560,000 | ) |     |        |  3,906,000 |   |     |      250.4 |    |
| Other expenses                            |     |      |   (814,000 | ) |     |      | (10,184,000 | ) |     |        | (9,370,000 | ) |     |      (92.0 | )  |
| Loss before provision for income taxes    |     | $    | (6,280,000 | ) |     | $    | (11,744,000 | ) |     | $      | (5,464,000 | ) |     |      (46.5 | )% |

Mining revenues Mining revenues decreased to $1,558,000 for the three months ended March 31, 2025 from $7,490,000 for the three months ended March 31, 2024. The decrease in mining revenues of $5,932,000 is due to a combination of factors. The average value of Bitcoin mined for the three months ended March 31, 2025 was $93,000 compared to $53,000 for the three months ended March 31, 2024, an increase of $40,000 or 76%. As of March 31, 2025, the Company had approximately 10,700 Bitcoin miners compared to approximately 8,800 as of March 31, 2024. However, these increases in operational Bitcoin miners and revenue recognized per Bitcoin earned were offset by the increase in global hashrate as well as the 50% reduction in block rewards due to the halving event in April 2024. During the three months ended March 31, 2025 and 2024, the average daily global hashrate was 802.3 exahash and 564.7 exahash, respectively, an increase of 42%. Cost of revenues Cost of revenues decreased to $2,054,000 for the three months ended March 31, 2025, from $4,837,000 for the three months ended March 31, 2024. The decrease of $2,783,000 was primarily due to (i) an increase in Bitcoin network hashrate and (ii) higher energy costs. General and administrative expenses

|                                           |     |   |      2025 |     |   |      2024 |     | Change |   Dollar |   |     |