American bitcoin appoints KPMG as new independent auditor

American Bitcoin Corp. (ABTC) has appointed KPMG LLP as its new independent auditor, effective September 19, 2025, replacing RBSM LLP, while also announcing a significant expansion of its Bitcoin mining hashrate from 10 EH/s to 24 EH/s and launching a $2.1 billion at-the-market equity program. Separately, AlphaTON Capital Corp. (formerly Portage Biotech) is undergoing a strategic pivot to become a digital asset treasury company, planning to acquire approximately $100 million in TON tokens and appointing Brittany Kaiser as CEO, with a rebranding to NASDAQ:ATON, signaling a notable shift in its operational focus within the digital asset sector.

Analysis

American Bitcoin Corp. (ABTC) is executing a multi-faceted growth and corporate enhancement strategy. The appointment of KPMG LLP as its independent auditor for the fiscal year 2025 marks a significant governance upgrade, replacing RBSM LLP and potentially boosting institutional investor confidence by aligning with a 'Big Four' accounting firm. Operationally, the company has more than doubled its mining capacity, increasing its installed hashrate from 10 to 24 exahash per second, a substantial fundamental improvement that directly enhances its Bitcoin production potential. This expansion is supported by the launch of a considerable $2.1 billion at-the-market (ATM) equity program, providing significant financial flexibility for future growth but also introducing potential dilution for existing shareholders. These actions occur amidst ongoing M&A activity, with updates provided on the pending merger with Gryphon Digital Mining. In a separate but related sector development, AlphaTON Capital Corp. (ATON) is undergoing a complete strategic transformation from a biotech firm into a digital asset treasury company. This pivot includes a planned $100 million acquisition of TON tokens to focus on the Telegram ecosystem and the appointment of digital asset specialist Brittany Kaiser as CEO, signaling a high-conviction bet on a specific segment of the digital asset market.

Key Decisions for Investors

• Investors should view American Bitcoin Corp.'s simultaneous operational expansion, auditor upgrade to KPMG, and large-scale capital program as a strong signal of its aggressive growth ambitions in the Bitcoin mining sector.
• Caution is warranted regarding ABTC's $2.1 billion ATM equity program, and investors must monitor share issuance and its potential dilutive impact on earnings per share and stock price.
• The strategic pivot of AlphaTON Capital (ATON) into a TON token-focused treasury firm presents a speculative, high-risk opportunity contingent on the execution of its new management and the growth of the Telegram digital ecosystem.
• As the majority owner of ABTC, Hut 8 Corp. (HUT) shareholders should factor in the subsidiary's positive operational and governance developments, which may serve as a significant value driver for the parent company.