Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 117

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 117
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000 for deposits under asset acquisition
agreements.

Net
cash used in investing activities was approximately $954,000 for the six months ended June 30, 2024, and consisted of (i) the purchase
of mining equipment for approximately $1,075,000, (ii) a cash disbursement of $50,000 for a refundable deposit, and (iii) proceeds of
$171,000 from the sale of miners.

Net cash provided
by financing activities

Net
cash provided by financing activities was approximately $5,856,000 for the six months ended June 30, 2025, and consisted primarily of
(i) a loan of $343,000 for our insurance policy premiums, (ii) insurance premium loan payments of $161,000, (iii) $2,116,000 of cash proceeds
from a registered direct offering of the Company’s common stock, (iv) $76,000 for costs related to the registered direct offering,
(vi) $3,872,000 of cash received from the sale of the Company’s common stock using the ATM, (vii) $114,000 for cost related to the
ATM, and (viii) $124,000 of cash payments for the interest on the Note Payable.

Net cash provided by financing
activities was approximately $2,040,000 for the six months ended June 30, 2024, and consisted primarily of (i) insurance premium payments
of $279,000, (ii) $2,054,000 of cash proceeds from issuance of the Company’s common stock offset by the payment of $235,000 for
costs related to the issuance of common stock, and $500,000 of cash received from the acquisition of Akerna.

Capital Expenditures and Other Obligations

Blockfusion Agreement

See
“—Recent Developments—Blockfusion Agreement” above.

Mawson Agreement

See
“—Recent Developments—Mawson Agreement” above.

34

Note Payable

On
May 25, 2022, Anchorage entered into an Equipment Loan and Security Agreement (as amended on March 27, 2023) with Gryphon Opco I LLC,
an indirect wholly owned subsidiary of the Company, pursuant to which Anchorage loaned Gryphon Opco the principal amount of 933.333333
bitcoin. Gryphon Opco’s obligations under the Anchorage Loan Agreement were secured by certain equipment and software rights