Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 19

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 19
---
. It also requires the disclosure of a qualitative description of the amounts remaining in relevant expense captions
that are not separately disaggregated quantitatively as well as the total amount of selling expenses and, in annual reporting periods,
an entity’s definition of selling expenses. The standard will be effective for fiscal years beginning after December 15, 2026, and
interim reporting periods beginning after December 15, 2027. We are currently evaluating the impact that the adoption of the provisions
of the ASU will have on our unaudited condensed consolidated financial statements. We are currently evaluating the impact that the adoption
of the provisions of the ASU will have on our unaudited condensed consolidated financial statements.

NOTE 2 - DIGITAL ASSETS

The following table summarizes the digital currency
transactions of Bitcoin for:

    For the 
six months
 ended 
June 30,
 2025  
    For the
 year 
ended
 December 31,
2024 
  
    ASC 2023-08 fair value adjustment 
    $-  
    $739,000 
  
    Digital assets beginning balance 
     1,016,000  
     2,097,000 
  
    Revenue recognized from mined digital assets 
     2,921,000  
     20,539,000 
  
    Cost of digital assets sold for cash 
     (3,094,000) 
     (20,260,000)
  
    Cost of digital assets transferred for noncash expenditures 
     -  
     (3,665,000)
  
    Fair value gain on digital assets 
     74,000  
     1,566,000 
  
    Digital assets ending balance 
    $917,000  
    $1,016,000 

For the six months ended
June 30, 2025 and 2024, the Company used digital assets with a value of $0 and $3,283,000, respectively, for the payment of principal
and interest for the BTC note payable.

The following table presents the Company’s
Bitcoin holdings as of:

    June 30,  2025  
    December 31,  2024 
  
    Number of Bitcoin held 
     8.56  
     10.93 
  
    Carrying basis - per Bitcoin 
    $93,830  
    $61,532 
  
    Fair value - per Bitcoin