Groowe Groowe BETA / Newsroom
⏱ News is delayed by 15 minutes. Sign in for real-time access. Sign in

ABITS Group maintains growth momentum in its third quarter of 2025

globenewswire.com
ABTS The company reported solid third-quarter results with operational efficiencies and favorable bitcoin prices, but a joint venture's performance was affected by higher electricity costs. Outlook is cautiously optimistic, dependent on bitcoin prices.

Hong Kong, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a new generation digital center with inhouse bitcoin mining operations, today announced its unaudited results for the third quarter ended September 30, 2025 which reflect continued solid progress at both its sites in Tennessee.

Highlights of the Quarter

Management Commentary

The results reflect the operational efficiencies at its main plant in Duff and the favorable bitcoin prices throughout the third quarter. While electricity costs were in line with expectations, there was a significant saving in the water bills as a result of the investment in the two water wells in an earlier period. Total output from this self-owned mine was 13.61 bitcoins.

The contribution from the joint-venture with Mendenhall LLC in Memphis was affected by a higher electricity consumption at peak-rate hours, which Management is reviewing and taking appropriate action.

Outlook

Looking ahead, we expect continuing improvement in Memphis while the Duff mine performs at its optimal level as the operations mature. Much will also depend on bitcoin prices which have faltered in the last quarter of 2025 but should be sustainable at the current level. The Company believes it has established a solid base for its operations as it seeks other opportunities in the United States.

The Company is a foreign private filer (FPI) and is not required to file quarterly reports. The following abridged results are not required to be audited or reviewed by the Company’s independent accountants.

ABITS GROUP INC

CONSOLIIDATED FINANCIAL RESULTS Q3-2025

UNAUDITED CONSOLIDATED BALANCE SHEET

UNAUDITED CONSOLIDATED INCOME STATEMENTS

Note

1 Digital Assets

2 Other receivables and prepayments

3 Loan

This loan of $3,000,000 was taken in April 2025 to finance the acquisition of mining equipment for the hosting facility in Memphis. The loan carries a simple interest of 12% per annum and is repayable in equal installments over a period of 2 years. It is secured on all the Company’s assets at its mining facility in Duff, Tennessee. The interest is $30,000 per month.

4 Other payables and accruals

5 Revenue

6 Direct costs of revenue

7 Share of profit from joint-venture

In accordance with the hosting agreement signed with Mendenhall LLC in February 2025, the share of profit due to Abit USA is 66.5%. The profit of the joint-venture is calculated based on the mining income after deducting electricity costs and the operations and maintenance costs of the facility. For the quarter ended September 30, 2025, this share is $429,832.

About ABITS Group Inc.

ABITS GROUP INC. (NASDAQ: ABTS) a BVI-incorporated company, operates a new generation data center in Tennessee through its U.S. subsidiary, Abit USA, Inc., which has self-mining bitcoin operations and colocation hosting services.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

For further information, please contact:

Abits Group Inc

Investor Relations

ir@abitgrp.com