American Bitcoin Appoints KPMG as New Auditor

Rhea-AI Summary

American Bitcoin Corp. (Nasdaq: ABTC), a Bitcoin infrastructure and accumulation platform, has announced the appointment of KPMG LLP as its new independent auditors, effective September 19, 2025. The appointment was approved by the company's Audit Committee and covers the fiscal year ending December 31, 2025. KPMG replaces the previous auditor, RBSM LLP.

The company has filed additional details regarding this change in a Current Report on Form 8-K with the SEC.

Positive

• Appointment of Big Four accounting firm KPMG suggests enhanced credibility and oversight
• Demonstrates commitment to maintaining high auditing standards

Negative

• Change in auditors may indicate potential accounting complexities or internal control matters requiring review

News Market Reaction

-4.29%

1 alert

-4.29% News Effect

-$268M Valuation Impact

$5.98B Market Cap

0.3x Rel. Volume

On the day this news was published, ABTC declined 4.29%, reflecting a moderate negative market reaction. This price movement removed approximately $268M from the company's valuation, bringing the market cap to $5.98B at that time.

Data tracked by StockTitan Argus on the day of publication.

MIAMI, Sept. 25, 2025 /PRNewswire/ -- American Bitcoin Corp. (Nasdaq: ABTC) ("American Bitcoin" or the "Company"), a Bitcoin accumulation platform focused on building America's Bitcoin infrastructure backbone, has appointed KPMG LLP ("KPMG") as its independent auditors, effective as of September 19, 2025.

The Audit Committee of the Board of Directors of the Company approved the appointment of KPMG to serve as the Company's independent public registered accounting firm for the year ended December 31, 2025. KPMG replaces RBSM LLP, whom the Company thanks for its prior service. Additional information is available in the Current Report on Form 8-K that the Company filed with the Securities and Exchange Commission.

About American Bitcoin

American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., is a Bitcoin accumulation platform focused on building America's Bitcoin infrastructure platform. The Company delivers institutional-grade exposure to Bitcoin through an industry-first business model that integrates scaled self-mining operations with disciplined accumulation strategies. For more information, visit abtc.com and follow the Company on X and Instagram at @ABTC.

View original content to download multimedia:https://www.prnewswire.com/news-releases/american-bitcoin-appoints-kpmg-as-new-auditor-302566562.html

SOURCE American Bitcoin Corp.

FAQ

Why did American Bitcoin (ABTC) change its auditor to KPMG in September 2025?

American Bitcoin appointed KPMG as its new independent auditor effective September 19, 2025, to serve for the fiscal year ending December 31, 2025, replacing RBSM LLP. The specific reason for the change was not disclosed in the announcement.

When will KPMG begin auditing American Bitcoin (ABTC)?

KPMG began serving as American Bitcoin's independent public registered accounting firm effective September 19, 2025, and will audit the fiscal year ending December 31, 2025.

Who was American Bitcoin's previous auditor before KPMG?

American Bitcoin's previous auditor was RBSM LLP before being replaced by KPMG.

What regulatory filings did American Bitcoin make regarding the auditor change?

American Bitcoin filed a Current Report on Form 8-K with the Securities and Exchange Commission (SEC) containing additional information about the auditor change.