Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 387

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 387
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 the actual expenses that would have been incurred by ABTC and may not reflect its results had ABTC been a standalone company during the periods presented. Actual costs that might have been incurred had ABTC been a standalone company would depend on a number of factors, including the organizational structure, what corporate functions ABTC might have performed directly or outsourced, and strategic decisions ABTC might have made in areas such as executive management, legal and other professional services, and certain corporate overhead functions. These costs also may not be indicative of the expenses that ABTC will incur in the future or would have incurred if ABTC had obtained these services from a third party. All intracompany transactions within ABTC have been eliminated. All intercompany transactions between ABTC and Hut 8 are considered to be effectively settled in the financial statements at the time the transactions are recorded. The total net effect of these intercompany transactions were considered to be settled before the close of the Contributions on March31, 2025, and are reflected in the ABTC’s combined statement of cash flows within financing activities and in the combined balance sheets as net parent investment. As of March31, 2025, the total net parent investment has been settled. ABTC’s equity balance in its combined financial statements included elsewhere in this proxy statement/prospectus represent the excess assets less total liabilities. Net parent investment is primarily impacted by contributions from Hut8, which are the result of net funding provided by or distributed to Hut 8. Cash is managed through bank accounts controlled and maintained by Hut 8. ABTC does not have legal ownership of any bank accounts containing cash balances as of December31, 2024 and 2023, and as of March31, 2025. As such, cash held in commingled accounts with Hut 8 is presented within net parent investment on the combined balance sheets. ABTC is a not a co -obligoron Hut 8’s third -party, long -termdebt obligations nor is ABTC expected to pay any portion of Hut 8’s third -party, long -termdebt. However, proceeds from Hut 8’s third -partydebts were used to finance ABTC’s purchase of Bitcoin miners or directly used for Bitcoin mining -relatedactivities and are included in ABTC’s combined financial statements included elsewhere in this proxy statement/prospectus. While ABTC is not a legal obligor, certain Bitcoin mining assets of the ABTC were pledged as collateral as disclosed in the notes to ABTC’s March31,