Abits Group Inc Reports Full Year 2025 Results with 37% Revenue Growth; Expands Bitcoin Mining Operations to 760 PH/s Combined Hash Rate
Rhea-AI Summary
Abits Group (Nasdaq: ABTS) filed its Form 20-F for fiscal 2025, reporting $9.13 million revenue (+37% vs 2024) and $3.68 million gross profit (~40% margin). Operations expanded with a new Memphis site, 89.09 BTC mined in 2025, bitcoin treasury at 15.99 BTC, and combined Tennessee hash rate ~760 PH/s as of April 6, 2026.
Recent financing raised ~$2.1 million and management appointed Kai Zhang as CFO effective Jan 1, 2026.
AI-generated analysis. Not financial advice.
Positive
- Revenue +37% to $9.13M in 2025
- Gross margin ~40% with $3.68M gross profit
- Bitcoin treasury increased from 2.58 to 15.99 BTC
- Mining output 89.09 BTC in fiscal 2025
- Memphis site revenue $2.90M following launch
- Combined hash rate ~760 PH/s across Tennessee operations
- Raised ~$2.1M via registered direct offering in Feb 2026
Negative
- None.
News Market Reaction – ABTS
On the day this news was published, ABTS gained 18.92%, reflecting a significant positive market reaction. Argus tracked a peak move of +57.4% during that session. Argus tracked a trough of -4.4% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $664K to the company's valuation, bringing the market cap to $4.17M at that time. Trading volume was exceptionally heavy at 31.3x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peer activity is mixed: names like NCPL and SLNH appeared in momentum scans moving up, while ABTS showed no pre-news move and no clear sector-wide pattern, suggesting this earnings release is stock-specific.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 24 | Offering closing | Negative | -4.8% | Closing of $2.1M registered direct offering and related capital raise details. |
| Feb 23 | Offering announcement | Negative | -20.9% | $2.1M registered direct offering of ordinary shares and pre-funded warrants. |
| Dec 10 | Quarterly results | Positive | +1.0% | Q3 2025 unaudited results showing revenue growth and improved profitability at Duff. |
| Nov 24 | Shareholder meeting | Neutral | +15.7% | Annual meeting results with director elections and auditor ratification. |
Equity offerings in early 2026 coincided with negative price reactions, while operational updates and routine corporate events tended to see flat to positive responses.
Over the past several months, Abits reported Q3 2025 operational gains at its Tennessee sites on Dec 10, 2025, which saw a modestly positive price reaction. Routine governance news from the Nov 21, 2025 annual meeting coincided with a stronger upside move. In contrast, the $2.1 million registered direct offering announced on Feb 23, 2026 and its closing on Feb 24, 2026 were followed by notable declines, highlighting market sensitivity to dilution relative to operating progress.
Regulatory & Risk Context
An effective Form F-3/A shelf filed on Dec 1, 2025 registers up to $100,000,000 of securities, enabling Abits to issue equity, debt, or other instruments in future offerings via prospectus supplements. One such usage occurred with the Feb 24, 2026 424B5 offering.
Market Pulse Summary
The stock surged +18.9% in the session following this news. A strong positive reaction aligns with the company’s solid fundamentals in this release, including 37% revenue growth to $9.13M and expansion to 760 PH/s of hash power. Historically, operational updates such as the Q3 2025 report drew constructive responses, while capital raises like the $2.1M offering weighed on shares. The existing $100,000,000 shelf and prior usage via the Feb 24, 2026 prospectus supplement could remain a risk factor for future dilution.
Key Terms
form 20-f regulatory
hash rate technical
pre-funded warrants financial
registered direct offering financial
form f-3 shelf prospectus regulatory
schedule 13g regulatory
reverse split financial
AI-generated analysis. Not financial advice.
HONG KONG, April 29, 2026 (GLOBE NEWSWIRE) -- Abits Group Inc (Nasdaq: ABTS) (“Abits” or the “Company”), a BVI-incorporated company that operates bitcoin mining and colocation hosting services in Tennessee, United States through its subsidiary, Abit USA, Inc, today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (the “SEC”). The annual report is available on the SEC’s website at www.sec.gov and on the Company's website at www.abitsgroup.com.
FISCAL YEAR 2025 FINANCIAL HIGHLIGHTS
Revenue:
Gross Profit from Operations:
Bitcoin Holdings: The Company increased its bitcoin treasury from 2.58 BTC at the beginning of the year to 15.99 BTC as of December 31, 2025, reflecting management's confidence in the long-term value of bitcoin.
Mining Output: 89.09 BTC mined during fiscal 2025 across the Company's Duff and Memphis, Tennessee operations, including 27.87 BTC from the newly commissioned Memphis site.
Total Assets:
FISCAL YEAR 2025 OPERATIONAL HIGHLIGHTS
Memphis Site Launch: The Company commenced mining operations at its new Memphis, Tennessee facility in late March 2025 under a hosting arrangement with 4545 S Mendenhall LLC, with initial power capacity of 12 MW, expandable to 22 MW. The Memphis site contributed
Fleet Expansion: During 2025, the Company added 190 units of Antminer S19XP and 315 units of Antminer T21, bringing total fleet capacity at the Duff site to approximately 500 PH/s in the first quarter of 2025. As of April 6, 2026, the Company's combined Tennessee operations comprise 4,775 mining units with approximately 760 PH/s of total hash power.
Hosting Revenue: The Company commenced third-party hosting services in 2024 and generated
Cost Efficiency: Water costs at the Duff site decreased by
CFO Transition: Effective January 1, 2026, Mr. Kai Zhang was appointed as Chief Financial Officer of the Company, succeeding Mr. Wanhong Tan, who retired after years of dedicated service in building the Company's financial reporting infrastructure.
MANAGEMENT COMMENTARY
“Fiscal year 2025 was a milestone year for Abits. We successfully launched our Memphis facility, nearly doubled our hash rate capacity, and grew revenue by
RECENT DEVELOPMENTS
In February 2026, the Company closed a registered direct offering of ordinary shares and pre-funded warrants for gross proceeds of approximately
In March 2026, the Company acquired an additional 200 units of new Antminer T21 miners, deployed at its Duff, Tennessee facility, further strengthening its mining capacity.
ABOUT ABITS GROUP INC
Abits Group Inc (Nasdaq: ABTS) is a bitcoin mining company incorporated in the British Virgin Islands, operating through its wholly-owned U.S. subsidiary, Abit USA, Inc. The Company operates self-owned and hosted bitcoin mining facilities in Tennessee, United States. For more information, please visit www.abitsgroup.com.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events. Investors can identify these forward-looking statements by words such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "future" or similar expressions. Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including the price and volatility of bitcoin, regulatory changes affecting cryptocurrency mining, our ability to manage and expand our operations, and other risks detailed in the Company's filings with the SEC. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law.
INVESTOR RELATIONS CONTACT
Abits Group Inc
Email: ir@abitgrp.com
Website: www.abitsgroup.com
Nasdaq: ABTS
ABITS GROUP INC
CONSOLIDATED BALANCE SHEETS
| As Of | As Of | As Of | ||||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2023 | ||||||||||
| ASSETS | ||||||||||||
| Current Assets | ||||||||||||
| Cash and cash equivalents | $ | 83,837 | $ | 1,118,929 | $ | 884,199 | ||||||
| Receivables, other receivables and prepayments | 816,847 | 558,707 | 774,345 | |||||||||
| Total current assets | 900,684 | 1,677,636 | 1,658,544 | |||||||||
| Digital assets | 1,483,451 | 257,753 | 1,194,157 | |||||||||
| Property, equipment and vehicles | 8,530,215 | 9,435,908 | 9,465,567 | |||||||||
| TOTAL ASSETS | $ | 10,914,350 | $ | 11,371,297 | $ | 12,318,268 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||
| Current Liabilities | ||||||||||||
| Payable, other payable and accruals | $ | 1,258,579 | $ | 990,346 | $ | 1,005,608 | ||||||
| Short-term loan from unrelated third party | 1,500,000 | - | - | |||||||||
| Total current Liabilities | 2,758,579 | 990,346 | 1,005,608 | |||||||||
| Non-Current Liabilities | ||||||||||||
| Long-term loan from unrelated third party | 375,000 | - | - | |||||||||
| Total Liabilities | $ | 3,133,579 | $ | 990,346 | $ | 1,005,608 | ||||||
| Stockholders’ Equity(1) | ||||||||||||
| Preferred stock, no par value, authorized; unlimited shares, 333,333 shares issued and outstanding as of December 31, 2025, December 31 2024 and December 31, 2023 | $ | 5,050 | $ | 5,050 | $ | 5,050 | ||||||
| Common stock, no par value, authorized: unlimited shares. Issued and outstanding: 2,369,995 shares as of December 31, 2025, and December 31, 2024 and December 31, 2023 | 35,554 | 35,554 | 35,554 | |||||||||
| Additional paid-in capital | 89,556,913 | 89,290,193 | 89,290,193 | |||||||||
| Accumulated deficit | (81,672,879 | ) | (78,803,383 | ) | (77,893,723 | ) | ||||||
| Accumulated other comprehensive income | (143,867 | ) | (146,463 | ) | (124,414 | ) | ||||||
| Total Shareholders’ Equity | 7,780,771 | 10,380,951 | 11,312,660 | |||||||||
| Total Liabilities and Shareholders’ Equity | $ | 10,914,350 | $ | 11,371,297 | $ | 12,318,268 | ||||||
(1) All year results have been adjusted for the reverse stock split effective March 10, 2025.
ABITS GROUP INC
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Year Ended | Year Ended | Year Ended | ||||||||||
| 31-December-2025 | 31-December-2024 | 31-December-2023 | ||||||||||
| Revenue | $ | 9,128,666 | $ | 6,711,225 | $ | 1,681,533 | ||||||
| Direct costs of revenue | (5,452,168 | ) | (3,335,819 | ) | (455,468 | ) | ||||||
| Profit from operations | 3,676,498 | 3,375,406 | 1,226,065 | |||||||||
| General and administrative expenses | (2,545,907 | ) | (2,085,518 | ) | (1,469,403 | ) | ||||||
| Depreciation | (3,519,286 | ) | (2,626,332 | ) | (436,451 | ) | ||||||
| Write-off of miners | (474,872 | ) | - | (4,530,950 | ) | |||||||
| Provision for diminution of miners | - | - | (7,364,650 | ) | ||||||||
| Profit/(Loss) on disposal of miners and other net income | 1,780 | 34,830 | (83,125 | ) | ||||||||
| Changes in value of digital assets | 381,669 | 535,115 | 92,115 | |||||||||
| Finance expense | (286,102 | ) | (31,794 | ) | (18,851 | ) | ||||||
| Loss before tax | (2,766,220 | ) | (798,293 | ) | (12,585,250 | ) | ||||||
| Taxation | (103,276 | ) | (111,367 | ) | - | |||||||
| Loss after tax | (2,869,496 | ) | (909,660 | ) | (12,585,250 | ) | ||||||
| Foreign exchange adjustment | 2,596 | (22,049 | ) | (20,053 | ) | |||||||
| Comprehensive loss for the year | $ | (2,866,900 | ) | $ | (931,709 | ) | $ | (12,605,303 | ) | |||
| Basic and diluted loss per ordinary share (1) | $ | (1.21 | ) | $ | (0.39 | ) | $ | (5.32 | ) | |||
| Basic and diluted average number of ordinary shares outstanding (1) | 2,369,995 | 2,369,995 | 2,369,995 | |||||||||
(1) All year results have been adjusted for the reverse stock split effective March 10, 2025.
ABITS GROUP INC
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended | For the Year Ended | For the Year Ended | ||||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2023 | ||||||||||
| Net loss for the year | $ | (2,869,496 | ) | $ | (909,660 | ) | $ | (12,585,250 | ) | |||
| Adjustments to reconcile to non-cash used in operating activities: | ||||||||||||
| Depreciation of property, equipment and vehicles | 3,531,388 | 2,626,332 | 4,973,729 | |||||||||
| Write-off of miners | 474,872 | - | 7,364,650 | |||||||||
| Compensation | 266,720 | - | - | |||||||||
| Changes in operating assets and liabilities: | ||||||||||||
| Other receivables and prepayments | (418,140 | ) | 215,638 | 2,400,297 | ||||||||
| Other payables and accruals | 268,233 | (15,262 | ) | (397,513 | ) | |||||||
| Account prepaid and other deposits | 160,000 | - | - | |||||||||
| Net cash generated from/(used in) operating activities | 1,413,577 | 1,917,048 | 1,755,913 | |||||||||
| Cash flows from investing activities: | ||||||||||||
| Purchase of property and equipment | (3,100,567 | ) | (2,596,673 | ) | (9,250,538 | ) | ||||||
| Utilization of digital assets | (1,225,698 | ) | 936,404 | 5,893,591 | ||||||||
| Net cash investing activities: | (4,326,265 | ) | (1,660,269 | ) | (3,356,947 | ) | ||||||
| Cash from financing activities | ||||||||||||
| Loan from unrelated third party | 3,000,000 | - | - | |||||||||
| Repayment of loans from unrelated third party | (1,125,000 | ) | - | - | ||||||||
| Net cash in financing activities | 1,875,000 | - | - | |||||||||
| Net cash flows for the year | (1,037,688 | ) | 256,779 | (1,601,034 | ) | |||||||
| Effect of exchange rates on cash and cash equivalents | 2,596 | (22,049 | ) | (20,053 | ) | |||||||
| Net (decrease)/increase generated from cash and cash equivalents | (1,035,092 | ) | 234,730 | (1,621,087 | ) | |||||||
| Cash and cash equivalents, beginning of year | 1,118,929 | 884,199 | 2,505,286 | |||||||||
| Cash and cash equivalents, end of year | $ | 83,837 | $ | 1,118,929 | $ | 884,199 | ||||||
