Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 67

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 67
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ouncements

On
December 13, 2023, the FASB issued ASU No. 2023-08, Intangibles - Goodwill and Other - Crypto Assets (Topic 350-60): Accounting for and
Disclosure of Crypto Assets. ASU 2023-08 requires entities to measure crypto assets that meet specific criteria at fair value with changes
recognized in net income each reporting period. Additionally, ASU 2023-08 requires an entity to present crypto assets measured at fair
value separately from other intangible assets in the balance sheets and record changes from remeasurement of crypto assets separately
from changes in the carrying amounts of other intangible assets in the income statement. The new standard is effective for the Company
for its fiscal year beginning January 1, 2025, with early adoption permitted. The Company adopted ASU 2023-08 on January 1, 2024. The
adoption of the ASU 2023-08 was a $740,000 increase of our digital assets, as of January 1, 2024.

In
November 2023, the FASB issued ASU 2023-07, “Segment Reporting (ASC Topic 280): Improvements to Reportable Segment Disclosures.”
The amendments require the disclosure of significant segment expenses as well as expanded interim disclosures, along with other changes
to segment disclosure requirements. The standard will be effective for fiscal years beginning after December 15, 2023, and interim periods
beginning on or after December 15, 2024. We have implemented the provisions of the ASU 2023-07. See Note 1.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk.

Not applicable for smaller
reporting companies.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of the end of the period
covered by this Report, our Chief Executive Officer and Chief Financial Officer (our “Certifying Officers”) conducted evaluations
of our disclosure controls and procedures. As defined under Sections 13a - 15(e) and 15d - 15(e) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), the term “disclosure controls and procedures” means controls and other procedures
of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits
under the Exchange Act is recorded, processed, summarized