ABTS · Abits Group Inc.

Abits Group Inc reported full year 2025 revenue of $9.13 million, a 37% increase from $6.71 million in 2024, driven primarily by the launch of its Memphis, Tennessee mining facility in late March 2025 and fleet expansion. The Memphis site contributed $2.90 million in revenue. Gross profit from operations rose to $3.68 million (40% margin) from $3.38 million (50% margin) in 2024, with margin compression due to higher direct costs. The company mined 89.09 BTC during the year, including 27.87 BTC from Memphis. Bitcoin holdings grew from 2.58 BTC to 15.99 BTC as of year-end. Net loss widened to $2.87 million from $0.91 million, impacted by $3.52 million in depreciation, $0.47 million in miner write-offs, and $0.29 million in finance expense. Operating cash flow was $1.41 million. The company ended the year with $0.08 million cash, $1.5 million in short-term loans, and $0.375 million in long-term loans. Management highlighted disciplined growth and operational efficiency. Subsequent to year-end, the company closed a $2.1 million registered direct offering in February 2026 and acquired 200 additional Antminer T21 miners in March 2026. CFO transition occurred on January 1, 2026, with Kai Zhang succeeding Wanhong Tan.