---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-005492"
form_type: "8-K"
ticker: "ABTC"
cik: "0001755953"
company_name: "American Bitcoin Corp."
filed_at: "2023-01-27T23:59:59+00:00"
generated_at: "2026-06-20T07:18:42.645401+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Akerna sells MJ Freeway and Ample Organics for $4M, merges with Gryphon Digital Mining

## Summary
- Akerna will sell MJF and Ample subsidiaries to POSaBIT for $4M in cash, subject to working capital adjustments.
- Akerna will merge with Gryphon Digital Mining; Gryphon equityholders to own ~92.5% of combined company.
- Exchange agreements with note holders: portion of notes exchanged for Series C Preferred; conversion price lowered to $1.20.
- Warrant exercise price automatically adjusted from $3.518 to $0.88 due to note repricing.
- Termination fees: $140K to POSaBIT and $275K to Gryphon under certain circumstances.

## SEC filing metadata
- accession: 0001213900-23-005492
- form_type: 8-K
- ticker: ABTC
- cik: 0001755953
- company_name: American Bitcoin Corp.
- filed_at: 2023-01-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1755953/000121390023005492/0001213900-23-005492-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1755953/000121390023005492/ea172301-8k425_akerna.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-005492
- JSON: https://secwatch.observer/filing/0001213900-23-005492.json
- Plain text: https://secwatch.observer/filing/0001213900-23-005492.txt

## Key facts
- Material Agreements
  American Bitcoin Corp. entered into Agreement and Plan of Merger with Gryphon Digital Mining, Inc. (effective 2023-01-27).
  - Action: entry
  - Agreement: merger
  - Counterparty: Gryphon Digital Mining, Inc.
  - Effective: 2023-01-27
  source text: Akerna entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Gryphon Digital Mining, Inc. (“Gryphon”) and Akerna Merger Co. (“Akerna Merger”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1755953/000121390023005492/0001213900-23-005492-index.htm
- Material Agreements
  American Bitcoin Corp. entered into Securities Purchase Agreement with POSaBIT Systems Corporation valued at $4,000,000 in cash (effective 2023-01-27).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: POSaBIT Systems Corporation
  - Value: $4,000,000 in cash
  - Effective: 2023-01-27
  source text: Akerna Corp., a Delware corporation (“Akerna”), entered into a securities purchase agreement (the “SPA”) with Akerna Canada Ample Exchange Inc. (“Akerna Exchange”) and POSaBIT Systems Corporation (“POSaBIT”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1755953/000121390023005492/0001213900-23-005492-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.