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

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 25
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 to the terms of the Akerna Merger Agreement, a business combination between the Company and Legacy Gryphon was effected through the merger of Akerna Merger Sub with and into Legacy Gryphon, with Legacy Gryphon as the surviving company in the Akerna Merger and after giving effect to such merger, continuing as a wholly owned subsidiary of the Company. On the date on which the Akerna Business Combination closed (the “ Akerna Closing Date”), the registrant changed its name from Akerna Corp. to Gryphon Digital Mining, Inc. Additionally, on the Akerna Closing Date, immediately following the closing of the Akerna Business Combination (the “ Akerna Closing”), the Company sold its legacy business to MJ Acquisition Corp. pursuant to that certain securities purchase agreement dated April 28, 2023, as amended, by and among the Company, Akerna Canada Ample Exchange Inc. and MJ Acquisition Corp. The audited financial statements of Gryphon for the year ended December 31, 2023 included herein are those of Legacy Gryphon and its consolidated subsidiaries, which is considered the Company’s accounting predecessor, prior to the Akerna Business Combination and the name change. ABTC ABTC, formerly known as American Data Centers Inc. (“ ADC”), was incorporated in the state of Delaware in November 2024. On March31, 2025, Hut8, ADC, and the stockholders of ADC entered into a Contribution and Stock Purchase Agreement (the “ Contribution Agreement”), pursuant to which Hut 8 contributed to ADC substantially all of Hut 8’s wholly -ownedBitcoin miners, representing the business of ABTC, in exchange for newly issued shares of Class B Common Stock of ADC, representing 80% of the total and combined voting power and 80% of the issued and outstanding equity interests of ADC after giving effect to the issuance (the “ Contributions”). In connection with the Contributions, ADC was renamed American Bitcoin Corp. and became a majority -ownedsubsidiary of Hut 8. Until the effectiveness of the Contributions on March31, 2025, ABTC’s operations were historically operated as the “Bitcoin mining” sub -segmentof Hut 8’s “Compute” segment and not as a standalone company. ABTC’s combined financial statements for the year ended December31, 2024 and ABTC’s condensed combined financial statements for the three months ended March31, 2025, representing the historical assets, liabilities, operations and cash flows directly attributable to ABTC, have been prepared on a carve -outbasis