Skip to main content

Abits Group Inc Announces Operational Updates For The Quarter Ended December 31, 2023

Written by Customer Service on . Posted in Public Companies.

Hong Kong, Jan. 30, 2024 (GLOBE NEWSWIRE) — Abits Group Inc (NASDAQ: ABTS), a company engaged in the crypto mining business, has released its operations update for the quarter ended December 31, 2023.

As previously reported, the Company completed the construction of its mining center at Duff, near the city of La Follette in the State of Tennessee in October 2023. The center is deployed with 1180 units of S19XP Hydro miners (20.8J) and 400 units of S19J Pro miners. As of December 31, 2023, the maximum mining hash rate reached 298 PH/s.

During the fourth quarter ended December 31, 2023, the Company produced 43.94 bitcoins, including a small contribution of 4.34 bitcoins from its facility in Kazakhstan.

Currently, the company is in the process of constructing a new generation of dry-cooler-type hydro containers, which is expected to be completed by the first quarter of 2024. Based on the company’s preliminary estimate, upon completion of the project, the hash rate by then could reach up to 340 PH/s.

About Abits Group Inc

Abits Group Inc is a U.S.based Digital Data Center operator with bitcoin self-mining operations. For more information, please visit www.abitsgroup.com/ Email: ir@abitgrp.com

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.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.