Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 482

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 482
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) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matter or on the accounts or disclosures to which it relate. Evaluation of Accounting for and Disclosure of Cryptocurrency Mining Revenue Recognized As discussed in Note 1 to the consolidated financial statements, the Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. For cryptocurrency mining revenue, the Company provides computing power services to the mining pools and in exchange for providing such computing power, the Company is entitled to considerations in the form of cryptocurrencies from the mining pools. The Company’s management has exercised significant judgments in their determination of how existing accounting guidance should be applied to the accounting for and disclosure of cryptocurrency mining revenue recognized. We identified the accounting for and disclosure of cryptocurrency mining revenue recognized as a critical audit matter due to the nature and extent of audit effort required to address the matter, which includes significant involvement of more experienced engagement team members. Subjective auditor judgment was required in determining the nature and extent of audit procedures to test the occurrence of the revenues recognized by the Company. The primary procedures we performed to address this critical audit matter included the following: •Evaluated the design of the Company’s information technology (“IT”) environment that is relevant to the cryptocurrency mining revenue with the assistance of our IT professional; •Performed site visit of the facility where the Company’s mining machines were located, which included an observation of the physical and environmental controls and mining machines observation procedures; •Evaluated management’s rationale for the application of ASC 606 to account for its cryptocurrency mining revenue, which included evaluating the contracts between the Company and the mining pool operator; •Evaluated and tested management’s rationale and supporting documentation associated with the valuation of cryptocurrency awards earned; •Compared the Company’s wallet records of cryptocurrency mining revenue received to publicly available blockchain records and evaluated the relevance and reliability of audit evidence obtained from public blockchains; •Performed certain substantive analytical procedures to determine completeness and existence of cryptocurrency assets earned by the Company as consideration for services rendered; and •Evaluated management’s disclosures of its cryptocurrency mining revenue in the financial statement footnotes.

| /s/ RBSM LLP                                       
 RBSM LLP                                           
 March 31, 2025                                     
 We have served as the Company’s auditor since 202