Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 520

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 520
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 three (3) month terms until and unless terminated as provided in the agreement. The Company determined the agreement with Coinmint does not meet the definition of a lease in accordance with ASC 842, Leases. On October 31, 2024, the Company notified Coinmint of its non -renewalof the Coinmint Agreement. The Coinmint Agreement expired on January 1, 2025. Blockfusion Co-location Mining Services Agreement On December 1, 2024, the Company entered into an agreement with Blockfusion USA, Inc. (“Blockfusion”) to provide hosting services for 3,780 of the Company’s bitcoin miners not to exceed 12MW of allocated power (“Blockfusion MSA”) for a period of twelve months (November 30, 2025), automatically renewing for one month extensions until terminated by either party, (“Term”). The Company is required to pay to Blockfusion a monthly facility fee of $13,000 per MW, for an aggregate of $156,000 (“Facility Fee”) for standard levels of maintenance of the Company’s Mining Equipment, including fault diagnosis and software upgrades, and racking and unracking of faulty machines. The Company’s monthly power usage will charge to the Company without a Blockfusion markup charge. At the signing of the Blockfusion MSA, the Company was required to pay (i) an initial monthly Facility Fee of $156,000 to be applied to the December 2024 Facility fee, (ii) a deposit in the aggregate of $600,000, as follows $200,000 on December 6, 2024, $200,000 on January 1, 2025 and $200,000 on February 1, 2025 (“Cash Deposit”) and (iii) the Company is required, prior to January 27. 2025, and thereafter at all times during the Term, maintain an irrevocable letter of credit, or prior to January 31, 2025 maintain a cash deposit and thereafter at all times during the Term, in the amount of $1,200,000 (“LOC Deposit”). As of the release date of these consolidated Financial Statements, the Cash Deposit has been paid and is not outstanding while the LOC Deposit remains outstanding. The Company determined the agreement with Blockfusion does not meet the definition of a lease in accordance with ASC 842, Leases. Mawson Agreement On January 3, 2025, Gryphon entered into a Master Co -LocationAgreement (the