Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 523

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 523
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 provide up to approximately 22.0 MW of power and to perform all maintenance necessary to operate the Company’s miners at the Coinmint facility. On July 1, 2023, the Company entered into an amendment to the Coinmint Agreement, pursuant to which Coinmint agreed to provide up to approximately 27.5 MW of power and perform all maintenance necessary to operate the Company’s miners at the Coinmint facility. In exchange, Coinmint was reimbursed for direct production expenses and receives a performance fee based on the net cryptocurrencies generated by the Company’s miners deployed at the Coinmint facility. The initial term of the Coinmint Agreement was fifteen months with automatic renewals for subsequent 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 3,780of 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 $ 13,000per 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 $ 156,000to be applied to the December 2024 Facility fee, (ii) a deposit in the aggregate of $ 600,000, as follows $ 200,000on December 6, 2024, $ 200,000on January 1, 2025 and $ 200,000on February 1, 2025 (“Cash Deposit”) and (iii) the Company is required, prior