Abits Group reports Q1 revenue $1.78M vs. $2.15M last year

During the first quarter of 2025, the Company’s mining operations had a total output of 18.86 coins, a drop of 50.4%, due solely to the halving of mining rewards from late April 2024. Gross profit achieved was $0.82 million but at a margin of 46.1%, it is still very satisfactory, thanks principally to the higher average market price of bitcoin during this period. As previously announced, in March 2025 the Company secured a $3 million loan to finance the acquisition of 2850 units of Antminer S19XP which have been installed at the hosting facility in Memphis. Revenue from this new site comes onstream in the second quarter and should make a significant contribution to operating results from the output generated by its 12MW power supply.