FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event ...

Hong Kong, March 25, 2025 (GLOBE NEWSWIRE) -- Abits Group Inc (the "Company") (NASDAQ:ABTS), a company engaged in bitcoin mining and related services in the United States, announced today that on March 24, 2025, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ noted this matter is now closed. About Abits Group Inc Abits Group Inc (formerly Moxian (BVI) Inc), a ...

Core Points - Abits Group Inc has secured a $3.0 million loan to purchase new Antminer S19XP machines, which will double its mining capacity from 10MW to 22MW [1] - The deployment of the new miners is expected to be completed by the end of March or early April 2025, with the Memphis hosting facility anticipated to come online in the second quarter of 2025 [1] - The loan carries a simple interest rate of 12% per annum and is secured by Abit USA's assets located in Duff, Tennessee [1] - The company has renegotiated its Hosting Agreement with a service provider, which is expected to enhance cash flows and contribute additional earnings at the EBITDA level over the next three years [2] Company Overview - Abits Group Inc, formerly known as Moxian (BVI) Inc, was organized in the British Virgin Islands in May 2021 and emerged from a merger with Moxian, Inc. in August 2021 [3] - The company operates self-mining operations in Tennessee through its wholly owned subsidiary, ABIT USA, Inc. [3]

Core Points - Abits Group Inc announced an amendment to its memorandum and articles of association to allow for an unlimited number of ordinary and preferred shares [1] - The company approved a share consolidation at a ratio of one-for-fifteen to comply with Nasdaq listing requirements [2] - The share consolidation will reduce the number of ordinary shares from 35,554,677 to approximately 2,370,300 and preferred shares from 5,000,000 to approximately 333,333 [5] Company Overview - Abits Group Inc, organized in the British Virgin Islands, is engaged in bitcoin mining through its subsidiary ABIT USA, Inc, with operations in Tennessee [6]

Core Insights - Abits Group Inc. has announced a significant expansion of its operations with a new 10MW hosting facility in Memphis, Tennessee, effectively doubling its mining capacity [1][2] - The deployment of 400 units of Antminer T21 at its Duff operation has resulted in a total hash rate of approximately 500PH/s, and the Memphis facility will increase the total power capacity to 22 MW, raising the total output to approximately 1EH/s [2][3] - The expansion is part of the company's strategic vision to strengthen its position in North America while maintaining operational efficiency and technological advancement [4] Company Operations - The new Memphis facility complements existing operations in Tennessee and is positioned to enhance mining capabilities in a region known for competitive energy costs and reliable infrastructure [3] - The company has initiated the first phase of miner procurement with an order of 800 Antminer T21 for delivery by the end of January, with an additional 1,350 units scheduled for procurement and deployment before the end of Q1 2025 [3] Strategic Vision - The expansion marks a pivotal moment in the company's growth trajectory, aligning with its strategic vision to enhance its operational capabilities in the North American market [3][4]

Hong Kong, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a leading digital data center operator specializing in Bitcoin self-mining operations in the United States, is pleased to announce the deployment of 500 state-of-the-art S19XP mining machines at its Duff, Tennessee site. These new additions will enhance the company’s total hash rate by 70,500 terahashes (TH), significantly boosting operational capacity. The S19XP machines, recognized for their efficiency and performance in Bitcoin ...

Group 1 - Abits Group Inc has been granted an additional 180 calendar days to comply with NASDAQ's minimum bid price requirement, extending the deadline to April 7, 2025 [1] - To regain compliance, the closing bid price of the Company's common shares must be at least $1.00 per share for at least ten consecutive business days by the new deadline [1] - Abits Group Inc is engaged in bitcoin mining and related services in the United States, with self-mining operations in Tennessee through its subsidiary ABIT USA, Inc [2] Group 2 - Abits Group Inc was formed following a merger with Moxian, Inc. in August 2021 and is organized in the British Virgin Islands [2]

Hong Kong, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc (NASDAQ: ABTS) is pleased to announce its half-year results for the period ended June 30, 2024. In a period when production is sustained throughout the six months, revenue grew to $3.67 million comprising 61.5 bitcoins, compared to the previous period when construction of the mining center in Tennessee was in progress and there was no production.. After accounting for direct costs of revenue amounting to $2.68 million, primarily electricity costs ...

Hong Kong, May 22, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a leading digital data center operator specializing in Bitcoin self-mining operations in the United States, is pleased to announce significant achievements and expansion initiatives for the first quarter of 2024, setting the stage for sustained growth throughout the year. During Q1 2024, Abits Group saw a substantial growth in its Bitcoin mining capacity. The company’s hash rates surged from approximately 285 PH/s at the beginning ...

Hong Kong, May 22, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a leading digital data center operator specializing in Bitcoin self-mining operations in the United States, is pleased to announce significant achievements and expansion initiatives for the first quarter of 2024, setting the stage for sustained growth throughout the year. During Q1 2024, Abits Group saw a substantial growth in its Bitcoin mining capacity. The company’s hash rates surged from approximately 285 PH/s at the beginning ...