Latest news with #ABTC
Yahoo
5 days ago
- Business
- Yahoo
Hut 8 10-Q reveals that Trump-led American Bitcoin bought 1,726 Bitcoin
Hut 8's (HUT) Q2 2025 10-Q revealed that its majority-owned subsidiary American Bitcoin (ABTC) had purchased 1,726 BTC for $205.6 million between July 1 and August 6. This is an average price of $119,120 per BTC. A HUT 8-K filed on June 30 indicated that American Bitcoin had raised about $215 million in net proceeds from a private placement involving 11,002,954 shares of ABTC class A common stock. $10 million of this raise was paid in BTC. The proceeds were earmarked for BTC accumulation goals. Given the news from the most recent 10-Q, it's clear that American Bitcoin has already deployed the remaining cash proceeds to expand its Bitcoin treasury. Enjoying the read? Get our newsletter directly to your inbox on all things Bitcoin-equities by clicking here. American Bitcoin launched in March 2025 as a majority‑owned subsidiary of Hut 8 to concentrate on industrial‑scale bitcoin mining and long‑term BTC accumulation. The structure separates miner ownership and treasury activity from Hut 8's core infrastructure operations, with Hut 8 providing sites, power, and managed services under contractual fee arrangements. Eric Trump serves as American Bitcoin's chief strategy officer and co-founder. ABTC is moving to public markets via an all‑stock combination with Gryphon Digital Mining. The S‑4 became effective on July 31, the Gryphon shareholder vote is scheduled for August 27, and closing is targeted for early September. Post‑close, Hut 8 is expected to own about 64.37% of ABTC and continue consolidating its in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-08-2025
- Business
- Yahoo
JonesResearch sees Hut 8's shift to ABTC as re-rating catalyst, issues $31 price target
Hut 8's (HUT) Q2 results marked its first full period operating through majority-owned American Bitcoin (ABTC), a change JonesResearch says has effectively turned the miner into a capital-lighter, royalty-style business. The firm believes this structure, built on contractual colocation and managed services fees from ABTC, offers more predictable growth potential than directly owning mining rigs. Enjoying the read? Get our newsletter directly to your inbox on all things Bitcoin-equities by clicking here. Hut 8 reported Q2 revenue of $41.3 million and Jones-defined EBITDA of $3.7 million, missing JonesResearch's forecasts of $50.6 million and $14.9 million. The gap was primarily due to the absence of revenue recognition for 15 EH/s of Bitmain miners at the Vega site. Core fees from ABTC totaled about $14.3 million from colocation and $0.9 million from managed services, equating to roughly $26,100 and $1,600 per megawatt per month, respectively, across 183 MW of contracted capacity. JonesResearch's analysis of ABTC's standalone results shows $30.3 million in Q2 mining revenue and $2.4 million in gross profit (8.1% margin) at an estimated hashcost of $0.047/TH. Low cash G&A of $2.5 million kept EBITDA near break-even. The upcoming ABTC merger with Gryphon Digital Mining (GRYP) is expected to close in early September, with Hut projected to own 64.37% of ABTC, implying a $4.0 billion stake at ABTC's current implied $6.2 billion market value. Hut's own market cap sits at $2.1 billion. JonesResearch cautions that ABTC's pre-merger valuation may be inflated by Gryphon's limited float and prefers to see post-close trading normalize before drawing firm conclusions. Hut ended Q2 with $216 million in cash, but only $11 million excluding ABTC equity proceeds. Through August 6, the company raised an additional $21 million via its at-the-market equity program. Beyond mining, Hut is advancing HPC projects, including expanding its River Bend site in Louisiana from 300 MW to a targeted 1 GW and building a 50 MW AI/HPC facility in Batavia, Illinois. JonesResearch maintains its Buy rating and $31 price target, based on ~14x EV/EBITDA applied to its 2026 EBITDA forecast of $288 million, adjusted for Hut's ABTC stake and potential time of publication, HUT is up 6.4% and GRYP is up 0.8%. Sign in to access your portfolio
Yahoo
22-07-2025
- Business
- Yahoo
Gryphon Digital Mining (GRYP) Enters Into a Definitive Merger Agreement With American Bitcoin Corp.
Gryphon Digital Mining, Inc. (NASDAQ:GRYP) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On May 9, Gryphon Digital Mining, Inc. (NASDAQ:GRYP) entered into a definitive merger agreement with American Bitcoin Corp. to form a combined company that would operate under the brand American Bitcoin and be led by the board of directors of American Bitcoin. Source: PixaBay The transaction is expected to close as early as Q3 2025, and management anticipates the combined company to trade on NASDAQ under the ticker symbol 'ABTC.' The merger is expected to bolster their market positioning in the digital asset mining sector. In other news, Gryphon Digital Mining, Inc. (NASDAQ:GRYP) regained compliance with NASDAQ listing requirements as of June 6, ensuring its presence on the Nasdaq Capital Market, a critical factor for maintaining market stability and investor confidence. Gryphon Digital Mining, Inc. (NASDAQ:GRYP) is a bitcoin mining company that offers carbon-neutral bitcoin mining and digital mining operations. While we acknowledge the potential of GRYP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
01-07-2025
- Business
- Yahoo
ABTC's Tonopah Flats lithium project gains US priority status
The American Battery Technology Company (ABTC) has announced that the US Federal Permitting Council has selected its Tonopah Flats lithium facility as a transparency priority. This priority project status underscores the project's vital contribution to domestic lithium production and bolstering US energy independence. It facilitates fast-tracking the federal permitting process of the domestic lithium mine and refinery, located on the project site in the state of Nevada. Now featured on the FAST-41 permitting dashboard, the project is a national priority, reflecting its strategic importance. ABTC CEO Ryan Melsert stated: 'We are excited by this selection of our Tonopah Flats lithium project as a FAST-41 critical mineral transparency project. 'As we are currently working through permitting efforts with multiple federal agencies for the construction of this domestic critical mineral project, the support to coordinate and fast-track these efforts is greatly appreciated.' With one of the largest identified claystone resource deposits in the US, the project is integral to meeting the rising demand for lithium, a key component in high-tech applications, from energy storage and defence systems to electronic vehicles. Situated on land managed by the US Department of Interior, the project has also secured a $58m grant from the US Department of Energy for its initial construction phase. ABTC has received a letter of interest from the Export-Import Bank of the United States for $900m in financing, aimed at expanding this commercial-scale lithium mine and refinery. ABTC's alignment with the Make More in America initiative and the China and Transformational Export Program reflects strategic efforts to counter competition from China and ensure US leadership in critical mineral manufacturing. These initiatives align with President Trump's Executive Order from 20 March 2025, which mandates federal agencies to streamline the permitting process and facilitate funding and offtake agreements for critical mineral production. In April 2024, ABTC updated its initial assessment in compliance with Securities and Exchange Commission guidelines, confirming Tonopah Flats as one of the largest known lithium resources in the US. The company has already demonstrated the capability to produce battery-grade lithium hydroxide from claystone at its pilot plant. This success is the foundation for a commercial-scale refinery, partnered with Black & Veatch, aiming to produce 30,000 tonnes (t) of lithium hydroxide annually. Unlike conventional lithium sources, the US lacks large quantities of hard rock spodumene and lithium-rich brines. ABTC has innovated low-cost, low-impact technologies to extract lithium from Nevada's claystone materials, aiming to boost domestic production of battery-grade lithium materials. "ABTC's Tonopah Flats lithium project gains US priority status" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
16-05-2025
- Business
- Yahoo
American Battery Technology Company Triples Quarterly Revenue as it Releases Third Quarter Fiscal Year 2025 Financial Report
Company achieves substantial 120% increase in battery recycling throughput as it accelerates commercial operations aimed to increase the onshoring of domestic critical mineral manufacturing AMERICAN BATTERY TECHNOLOGY COMPANY AMERICAN BATTERY TECHNOLOGY COMPANY Reno, Nev., May 16, 2025 (GLOBE NEWSWIRE) -- American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery minerals company that is commercializing its first-of-kind technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, announced it has tripled quarterly revenue as it releases its third quarter fiscal year (FY) 2025 financial results for the period ending March 31, 2025. Battery Recycling Highlights from Third Fiscal Quarter 2025: ABTC has implemented multi-shift, 24/7 operations at its first battery recycling facility and substantially increased the throughput during the quarter, more than doubling the mass of battery material recycled in the three months ended March 31, 2025, compared to the previous quarter. ABTC continues to engage with its multiple strategic partners for the sourcing of commercial quantities of battery feedstock materials, and for the sale of recycled battery products. The company expects to continue accelerating the ramp of operations at this facility in the following quarter. Primary Lithium Manufacturing Highlights from Third Fiscal Quarter 2025: ABTC has developed its own set of technologies for the manufacturing of critical mineral lithium hydroxide from Nevada-based claystone material and has constructed a multi-tonne per day integrated pilot facility to demonstrate these technologies. During the reported quarter, ABTC successfully completed a continuous, multi-week operation of this facility and produced large quantities of lithium hydroxide material. This material is currently being characterized and delivered to strategic customers for their internal evaluations. Based on the pilot facility design, ABTC has designed a commercial scale lithium refinery to manufacture 30,000 tonnes of lithium hydroxide per year, and long-term commercial offtake agreements for this product are under negotiations with these strategic customers. ABTC recently received an approved Letter of Interest from the Export-Import Bank of the United States for a $900,000,000 low-interest loan to support the construction of this commercial lithium mine and refinery. Financial Highlights from Third Fiscal Quarter 2025: Total revenues from the sale of recycled battery materials increased to $1.0 million in the three months ended March 31, 2025, approximately tripling the revenue from the previous quarter. Cash cost of goods sold, with the removal of non-cash items such as depreciation, for this period was $2.3 million compared to $2.1 million in the previous quarter. This represents a significant improvement in gross cash margin, with quarterly revenue increasing by approximately 200% with cash cost of goods sold increasing by only 9%. A reconciliation of quarterly GAAP to non-GAAP cost of goods sold. Description Amount ($M) GAAP Cost of Goods Sold 3.7 Less: Depreciation Expense (1.0) Less: Stock-Based Compensation (0.4) Non-GAAP Cash Cost of Goods Sold 2.3 Company reimbursements from government grants increased to $2.0 million for the three months ended March 31, 2025, compared to $1.3 million during the same period of the prior year. This reimbursement of $2.0 million is shown as an offset to research and development costs within the condensed consolidated statement of operations. As of March 31, 2025, the company had total cash on hand of $7.8 million, of which $2.8 million was available and $5 million restricted for compliance with its Note obligations. On April 1, 2025 the company entered into an agreement for the sale of one of its unused, legacy properties located at 395 Logan Lane in Fernley, Nevada for $6.75 million. The transaction is expected to close on or before July 10, 2025. On April 20, 2025 the company entered into an agreement for the sale of a portion of its unused water rights in Fernley, Nevada for $4.7 million. The transaction is expected to close on or before May 21, 2025. Additional recent company information and updates can be found at About American Battery Technology Company American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are "forward-looking statements." Although the American Battery Technology Company's (the "Company") management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, risks and uncertainties related to the Company's ability to continue as a going concern; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2024. The Company assumes no obligation to update any of the information contained or referenced in this press release. Attachments AMERICAN BATTERY TECHNOLOGY COMPANY AMERICAN BATTERY TECHNOLOGY COMPANY CONTACT: Tiffiany Moehring American Battery Technology Company 720.254.1556 tmoehring@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
