Abits Group Inc Announces Deployment of 500 S19XP Machines, Adding 70,500 TH to Operations
Expansion of Mining Operations: Abits Group Inc. is deploying 500 S19XP mining machines at its Tennessee site, increasing its total hash rate by 70,500 terahashes and enhancing operational capacity in Bitcoin self-mining.
Commitment to Growth: This strategic move reflects Abits Group's dedication to strengthening its position in the U.S. Bitcoin mining industry, with the new machines expected to be operational by the end of October 2024.
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Abits Group Inc. Reports Q3 Revenue of $1.61M, Up 27.5%
- Revenue Growth: Abits Group's self-owned mining operation in Duff, Tennessee, reported Q3 revenue of $1.61 million, reflecting a 27.5% year-over-year increase, indicating sustained growth potential in its bitcoin mining business.
- Profitability Improvement: The profit from the self-owned mine surged to $0.76 million from $0.39 million last year, showcasing significant operational efficiency improvements that are expected to enhance the company's financial stability.
- Operating Profit Surge: Operating profit before depreciation and group overheads reached $1.19 million, a remarkable 207.1% increase over the same period last year, demonstrating the company's success in cost control and resource allocation.
- Narrowed Pre-Tax Loss: The pre-tax loss decreased to $0.29 million from $0.66 million in the prior year, reflecting positive progress in restoring profitability and bolstering confidence in future earnings potential.
Abits Group Reports 27.5% Revenue Growth to $1.61 Million in Q3
- Significant Revenue Growth: Abits Group's self-owned mining operation in Duff, Tennessee, reported total revenue of $1.61 million for Q3, reflecting a 27.5% year-over-year increase, indicating sustained growth potential in its bitcoin mining business.
- Profitability Improvement: The profit from the self-owned mine surged to $0.76 million from $0.39 million in Q3 2024, marking a 95.4% increase, which highlights significant operational efficiency gains.
- Operating Profit Surge: Before accounting for depreciation and group overheads, operating profit reached $1.19 million, a staggering 207.1% increase compared to the previous year, demonstrating successful cost control and resource allocation.
- Narrowed Pre-Tax Loss: The pre-tax loss decreased from $0.66 million in the same period last year to $0.29 million, showcasing positive progress in restoring profitability and enhancing future financial stability.
Abits Group Scheduled to Conduct Annual Shareholders Meeting on November 21, 2025
Annual Meeting Announcement: Abits Group Inc will hold its 2025 annual meeting of shareholders on November 21, 2025, in Hong Kong, with a record date for voting set for October 17, 2025.
Proposal Submission Details: Shareholders can submit proposals for consideration by October 20, 2025, either by mail or email to the company's corporate secretary.
Company Background: Abits Group Inc, formed from a merger in 2021, operates bitcoin mining through its subsidiary in Tennessee and is organized in the British Virgin Islands.
Forward-Looking Statements: The announcement includes forward-looking statements regarding the company's future operations and risks, which may affect actual results compared to expectations.
Abits Group Inc Releases Revised Unaudited Financial Statements for the First Half of 2025
Financial Corrections: Abits Group Inc. announced corrections to its unaudited financial statements for the first half of 2025, specifically regarding the number of authorized and issued shares due to a reverse split, while other financial figures, including losses, remained unchanged.
Financial Performance: The company reported a comprehensive loss of $354,527 for the six months ended June 30, 2025, with total assets increasing to $13.5 million, driven by a loan and changes in digital asset values.
ABTS announces FY2025 Q1 results
Operating Results for Q1 2025: Abits Group Inc reported a revenue of $1.78 million for the first quarter of fiscal year 2025, a decrease of 17.2% from the previous year, with gross profit at $0.82 million despite a 50.4% drop in mining output due to halving rewards.
Future Prospects: The company secured a $3 million loan to acquire new mining equipment, which is expected to contribute significantly to revenue starting in the second quarter of 2025.
Nasdaq Surges Over 3%; Fox Posts Upbeat Q3 Results
U.S. Stock Market Performance: U.S. stocks rose significantly, with the Nasdaq Composite increasing over 3%, while consumer discretionary shares surged by 4.7%. Fox Corporation reported better-than-expected earnings, boosting investor confidence.
Global Market Trends: European and Asian markets also saw gains, with the eurozone's STOXX 600 up 1% and Japan's Nikkei gaining 0.38%. Meanwhile, commodities showed mixed results, with oil prices rising and gold prices declining.
Abits Group Inc. Reports Q3 Revenue of $1.61M, Up 27.5%
- Revenue Growth: Abits Group's self-owned mining operation in Duff, Tennessee, reported Q3 revenue of $1.61 million, reflecting a 27.5% year-over-year increase, indicating sustained growth potential in its bitcoin mining business.
- Profitability Improvement: The profit from the self-owned mine surged to $0.76 million from $0.39 million last year, showcasing significant operational efficiency improvements that are expected to enhance the company's financial stability.
- Operating Profit Surge: Operating profit before depreciation and group overheads reached $1.19 million, a remarkable 207.1% increase over the same period last year, demonstrating the company's success in cost control and resource allocation.
- Narrowed Pre-Tax Loss: The pre-tax loss decreased to $0.29 million from $0.66 million in the prior year, reflecting positive progress in restoring profitability and bolstering confidence in future earnings potential.
Abits Group Reports 27.5% Revenue Growth to $1.61 Million in Q3
- Significant Revenue Growth: Abits Group's self-owned mining operation in Duff, Tennessee, reported total revenue of $1.61 million for Q3, reflecting a 27.5% year-over-year increase, indicating sustained growth potential in its bitcoin mining business.
- Profitability Improvement: The profit from the self-owned mine surged to $0.76 million from $0.39 million in Q3 2024, marking a 95.4% increase, which highlights significant operational efficiency gains.
- Operating Profit Surge: Before accounting for depreciation and group overheads, operating profit reached $1.19 million, a staggering 207.1% increase compared to the previous year, demonstrating successful cost control and resource allocation.
- Narrowed Pre-Tax Loss: The pre-tax loss decreased from $0.66 million in the same period last year to $0.29 million, showcasing positive progress in restoring profitability and enhancing future financial stability.
Abits Group Scheduled to Conduct Annual Shareholders Meeting on November 21, 2025
Annual Meeting Announcement: Abits Group Inc will hold its 2025 annual meeting of shareholders on November 21, 2025, in Hong Kong, with a record date for voting set for October 17, 2025.
Proposal Submission Details: Shareholders can submit proposals for consideration by October 20, 2025, either by mail or email to the company's corporate secretary.
Company Background: Abits Group Inc, formed from a merger in 2021, operates bitcoin mining through its subsidiary in Tennessee and is organized in the British Virgin Islands.
Forward-Looking Statements: The announcement includes forward-looking statements regarding the company's future operations and risks, which may affect actual results compared to expectations.
Abits Group Inc Releases Revised Unaudited Financial Statements for the First Half of 2025
Financial Corrections: Abits Group Inc. announced corrections to its unaudited financial statements for the first half of 2025, specifically regarding the number of authorized and issued shares due to a reverse split, while other financial figures, including losses, remained unchanged.
Financial Performance: The company reported a comprehensive loss of $354,527 for the six months ended June 30, 2025, with total assets increasing to $13.5 million, driven by a loan and changes in digital asset values.
ABTS announces FY2025 Q1 results
Operating Results for Q1 2025: Abits Group Inc reported a revenue of $1.78 million for the first quarter of fiscal year 2025, a decrease of 17.2% from the previous year, with gross profit at $0.82 million despite a 50.4% drop in mining output due to halving rewards.
Future Prospects: The company secured a $3 million loan to acquire new mining equipment, which is expected to contribute significantly to revenue starting in the second quarter of 2025.
Nasdaq Surges Over 3%; Fox Posts Upbeat Q3 Results
U.S. Stock Market Performance: U.S. stocks rose significantly, with the Nasdaq Composite increasing over 3%, while consumer discretionary shares surged by 4.7%. Fox Corporation reported better-than-expected earnings, boosting investor confidence.
Global Market Trends: European and Asian markets also saw gains, with the eurozone's STOXX 600 up 1% and Japan's Nikkei gaining 0.38%. Meanwhile, commodities showed mixed results, with oil prices rising and gold prices declining.
