Latest news with #ABTC
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
Hindustan Times
14-05-2025
- Business
- Hindustan Times
What is American Bitcoin, the latest addition to Trump's expanding crypto empire?
US President Donald Trump and his family's obsession with cryptocurrency is well known. Now, there is a further evolution to this tale as a new Bitcoin mining venture has been announced on May 12 that has a close connection to the Trump family. American Bitcoin is an all-new cryptocurrency firm backed by President Donald Trump's sons Eric Trump and Donald Trump Jr. It is now slated to become a publicly traded company and will be listed on Nasdaq ,expectedly by 2025, according to an investor presentation. ALSO READ | Microsoft to CrowdStrike: These tech firms lead 2025 layoffs as 50,000 jobs vanish in 5 months The firm will be backed and merged with Gryphon Digital Mining, and the merged entity will be known as "ABTC". This entity's major shareholders will the US President's two sons (98%), with the remaining 2% going to the existing shareholders of Gryphon Digital Mining with whom American Bitcoin will be merging. For Eric and Donald Trump Jr., the fantasy towards cryptocurrency is more from a business point of view. Donald Trump Jr was previously quoted as telling The New York Times. "From the start, we've backed our conviction in Bitcoin, personally and through our businesses. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity." According to the investor presentation on the website, ABTC's co-founder and a member of the management team will be Eric Trump. However, there are concerns emerging that this latest development could have an impact within the Trump administration. It could even lead to conflicts of interest within the administrative brackets. However, this news of American Bitcoin going public did not create much of an impact in the crypto market. Bitcoin kept trading within its usual figures since the announcement, according to CoinMarketCap stats.
Straits Times
12-05-2025
- Straits Times
Forum: Digital records of past passport numbers can be retrieved on MyICA portal
Forum: Digital records of past passport numbers can be retrieved on MyICA portal We refer to Mr Victor Lim's letter 'Include all previous passport numbers in new passports' (May 6). In 2006, the Immigration and Checkpoints Authority (ICA) introduced the biometric passport with enhanced security features to comply with the standards and recommendations of the International Civil Aviation Organisation (ICAO). This ensures that the Singapore passport remains a highly secured travel document which gives Singaporeans access to many countries without the need for a visa. In line with the ICAO's recommendation, every passport should carry a passport number that is unique and unrepeated. This is important for agencies to share information on lost and stolen Singaporean passports as part of the global effort to curb passport abuse. For Singaporeans who want their previous passport number to be indicated in their new passport, ICA can include the number in the current passport. Such requests are assessed on a case-by-case basis. Alternatively, Singaporeans who need their previous passport numbers for verification purposes overseas can access digital records of their previous passport numbers via the MyICA portal on the ICA website, under the 'MyTransaction' tab. The list can be downloaded and printed for reference. Mr Lim also encountered difficulties overseas while using his Apec Business Travel Card (ABTC), which still bears his old passport number. As each ABTC is tagged to a unique passport number, card holders must renew their ABTC if they have been issued a new passport. This can be done via the MyICA portal under the category 'replacement due to change of particulars'. Patrick Ong Senior Assistant Director, Strategic Communications and Media Relations Corporate Communications and Service Division Immigration and Checkpoints Authority More on this Topic Forum: What readers are saying Join ST's Telegram channel and get the latest breaking news delivered to you.
Associated Press
12-05-2025
- Business
- Associated Press
Gryphon Digital Mining Announces Merger with American Bitcoin
Transaction expected to provide Gryphon stockholders equity in a public vehicle with the goal of building the world's largest, most efficient pure-play Bitcoin miner alongside a robust strategic Bitcoin reserve LAS VEGAS, NEVADA / ACCESS Newswire / May 12, 2025 / Gryphon Digital Mining, Inc. (NASDAQ:GRYP) ('Gryphon,' the 'Company,' 'we,' 'our,' and 'us'), an innovative venture in the Bitcoin mining space, announced today that it has entered into a definitive merger agreement with American Bitcoin Corp. ('American Bitcoin'), a Bitcoin accumulation platform focused on building America's Bitcoin infrastructure backbone, pursuant to which Gryphon will acquire American Bitcoin in a stock-for-stock merger transaction. Upon closing, the combined company will operate under the American Bitcoin brand, led by the management and board of directors of American Bitcoin. The combined company is expected to trade on Nasdaq under the ticker symbol 'ABTC.' 'The Gryphon team is pleased to offer our stockholders the opportunity to participate in what we believe will be the next era of public Bitcoin mining through this combination,' said Steve Gutterman, Chief Executive Officer of Gryphon. 'American Bitcoin brings together an outstanding leadership team and a clear strategy to build a premier institution in this fast-evolving industry.' Hut 8 Corp. (HUT) ('Hut 8") launched American Bitcoin earlier this year in partnership with Eric Trump, with the goal of building the world's largest, most efficient pure-play Bitcoin miner alongside a robust strategic Bitcoin reserve. American Bitcoin is purpose-built to enable Bitcoin accumulation at scale through low-cost Bitcoin mining and other complementary strategies. 'Taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision,' said Asher Genoot, Board Member of American Bitcoin and CEO of Hut 8. 'Time-to-market was a critical factor, and this transaction enables an efficient path to public markets by combining with an entity that is structurally aligned with American Bitcoin's mining-focused launch strategy.' Said Gutterman, 'We are excited to be a part of the American Bitcoin story and to join Asher and the team that we believe will define the future of public Bitcoin investment.' Following the completion of the transaction, current Gryphon stockholders are expected to own approximately 2% of the combined company, and former American Bitcoin stockholders will own approximately 98%. The transaction is expected to close as early as the third quarter of 2025, subject to satisfaction of specified closing conditions, including receipt of Gryphon stockholder approval. About Gryphon Gryphon. is an innovative venture in the Bitcoin mining space. More information is available on About American Bitcoin American Bitcoin is a majority-owned subsidiary of Hut 8 focused exclusively on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The company combines Hut 8's proven mining operations, cost-efficient infrastructure development capabilities, and disciplined approach to capital allocation with Eric Trump's commercial acumen, capital markets expertise, and commitment to the advancement of decentralized financial systems. For more information, visit Cautionary Note Regarding Forward-Looking Information This press release includes 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements, include, but are not limited to, statements relating to the structure, timing, and completion of the proposed transaction between Gryphon and American Bitcoin, the combined company's listing on Nasdaq after the closing of the proposed transaction, the expected management and board of directors of the combined company, and the vision, goals, and trajectory of Gryphon and the combined company. Forward-looking statements are not statements of historical fact, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Gryphon as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: the occurrence of any event, change, or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement; the possibility that the proposed transaction does not close when expected or at all because the conditions to closing are not satisfied on a timely basis or at all, including the failure to timely obtain stockholder approval for the proposed transaction from Gryphon's stockholders, if at all;risks related to Gryphon's continued listing on Nasdaq until closing of the proposed transaction; the outcome of any legal proceedings that may be instituted against Gryphon, American Bitcoin, or the combined company; the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all; the possibility that the vision, goals, and trajectory of the combined company are not timely achieved or realized or achieved or realized at all; the possibility that the integration of the two companies may be more difficult, time-consuming or costly than expected; the possibility that the proposed transaction may be more expensive or take longer to complete than anticipated, including as a result of unexpected factors or events; the diversion of management's attention from ongoing business operations and opportunities; changes in Gryphon's stock price before closing; and other factors that may affect future results of Gryphon, American Bitcoin, or the combined company. Additional factors that could cause results to differ materially from those described above can be found in Gryphon's most recent annual report on Form 10-K for the fiscal year ended December 31, 2024 and other documents subsequently filed by Gryphon with the Securities Exchange Commission (the 'SEC'). Additional Information About the Proposed Transaction and Where to Find It This press release relates to a proposed transaction between Gryphon and American Bitcoin. In connection with the proposed transaction, Gryphon intends to file with the SEC a Registration Statement on Form S-4 (the 'Registration Statement) to register the Class A common stock to be issued by Gryphon in connection with the proposed transaction. The Registration Statement will include a proxy statement of Gryphon and a prospectus of Gryphon (the 'Proxy Statement/Prospectus'), and each of Gryphon and American Bitcoin may file with the SEC other relevant documents concerning the proposed transaction. After the Registration Statement is declared effective, the definitive Proxy Statement/Prospectus will be sent to the stockholders of Gryphon to seek their approval of the proposed transaction. This press release is not a substitute for the Registration Statement, the Proxy Statement/Prospectus or any other relevant documents that Gryphon or American Bitcoin has filed or will file with the SEC. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND STOCKHOLDERS OF GRYPHON ARE URGED TO CAREFULLY AND ENTIRELY READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, IF AND WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT GRYPHON, AMERICAN BITCOIN, THE PROPOSED TRANSACTION, AND RELATED MATTERS. A copy of the Registration Statement, Proxy Statement/Prospectus, as well as other relevant documents filed by Gryphon and American Bitcoin with the SEC, may be obtained free of charge, when they become available, at the SEC's website at You will also be able to obtain these documents free of charge, when they are available, by directing a request to Gryphon's Investor Relations department by emailing [email protected]. The information on Gryphon's or American Bitcoin's respective websites is not, and shall not be deemed to be, a part of this communication or incorporated into other filings either company makes with the SEC. Participants in the Solicitation Gryphon, American Bitcoin and certain of their respective directors, executive officers, and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Gryphon, their ownership of Gryphon common stock, and Gryphon's transactions with related persons is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 31, 2025, the definitive proxy statement for Gryphon's 2024 annual meeting of stockholders, as filed with the SEC on August 7, 2024, the definitive proxy statement for Gryphon's 2025 special meeting of stockholders, as filed with the SEC on April 21, 2025, and other documents that may be filed from time to time with the SEC. Additional information about the directors and executive officers of Gryphon and American Bitcoin and other persons who may be deemed to be participants in the solicitation of stockholders of Gryphon in connection with the proposed transaction and a description of their direct and indirect interests will be included in the Proxy Statement/Prospectus related to the proposed transaction or other relevant materials, which will be filed with the SEC. These documents may be obtained free of charge, when they become available, at the SEC's website at and from Gryphon using the sources indicated above. No Offer or Solicitation This communication is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or sell any securities or the solicitation of any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or in a transaction exempt from the registration requirements of the Securities Act. INVESTOR CONTACT: Name: James Carbonara Company: Hayden IR Phone: (646)-755-7412 Email: [email protected] SOURCE: Gryphon Digital Mining, Inc. press release
