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ABITS Group maintains growth momentum in its third quarter of 2025
Hong Kong, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a new generation digital center with inhouse bitcoin mining operations, today
About this update from Abits Group Inc
[{"type":"text","content":"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 ●Total revenue reached $1.61 million in Duff, Tennessee, representing a 27.5% increase compared to the same period last year. Profit of this self-owned mining operation was $0.76 million, up from $ 0.39 million in Q3 2024. ●There was a modest profit contribution of $0.43 million from the Mendenhall hosting facility in Memphis ●Operating profit from operations, before accounting for depreciation and group overheads totalled $1.19 million, an increase of 207.1% over the comparative period last year. ●Loss before taxation narrowed to $0.29 million from a loss of $0.66 million in the comparable period last year. 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 INCCONSOLIIDATED FINANCIAL RESULTS Q3-2025 UNAUDITED CONSOLIDATED BALANCE SHEET Note As of September 30 2025 As of December 31 2024 Current assets Cash and cash equivalents 94,132 1,118,929 Other ...