FISCAL YEAR 2025 FINANCIAL HIGHLIGHTS
Revenue:
Gross Profit from Operations:
Mining Output: 89.09 BTC mined during fiscal 2025 across the Company's
Total Assets:
FISCAL YEAR 2025 OPERATIONAL HIGHLIGHTS
Memphis Site Launch: The Company commenced mining operations at its new
Fleet Expansion: During 2025, the Company added 190 units of Antminer S19XP and 315 units of Antminer T21, bringing total fleet capacity at the
Hosting Revenue: The Company commenced third-party hosting services in 2024 and generated
Cost Efficiency: Water costs at the
CFO Transition: Effective
MANAGEMENT COMMENTARY
“Fiscal year 2025 was a milestone year for Abits. We successfully launched our
RECENT DEVELOPMENTS
In
In
ABOUT
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events. Investors can identify these forward-looking statements by words such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "future" or similar expressions. Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including the price and volatility of bitcoin, regulatory changes affecting cryptocurrency mining, our ability to manage and expand our operations, and other risks detailed in the Company's filings with the
INVESTOR RELATIONS CONTACT
Email: ir@abitgrp.com
Website: www.abitsgroup.com
Nasdaq: ABTS
CONSOLIDATED BALANCE SHEETS
| As Of | As Of | As Of | ||||||||||
2025 | 2024 | 2023 | ||||||||||
| ASSETS | ||||||||||||
| Current Assets | ||||||||||||
| Cash and cash equivalents | $ | 83,837 | $ | 1,118,929 | $ | 884,199 | ||||||
| Receivables, other receivables and prepayments | 816,847 | 558,707 | 774,345 | |||||||||
| Total current assets | 900,684 | 1,677,636 | 1,658,544 | |||||||||
| Digital assets | 1,483,451 | 257,753 | 1,194,157 | |||||||||
| Property, equipment and vehicles | 8,530,215 | 9,435,908 | 9,465,567 | |||||||||
| TOTAL ASSETS | $ | 10,914,350 | $ | 11,371,297 | $ | 12,318,268 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||
| Current Liabilities | ||||||||||||
| Payable, other payable and accruals | $ | 1,258,579 | $ | 990,346 | $ | 1,005,608 | ||||||
| Short-term loan from unrelated third party | 1,500,000 | - | - | |||||||||
| Total current Liabilities | 2,758,579 | 990,346 | 1,005,608 | |||||||||
| Non-Current Liabilities | ||||||||||||
| Long-term loan from unrelated third party | 375,000 | - | - | |||||||||
| Total Liabilities | $ | 3,133,579 | $ | 990,346 | $ | 1,005,608 | ||||||
| Stockholders’ Equity(1) | ||||||||||||
| Preferred stock, no par value, authorized; unlimited shares, 333,333 shares issued and outstanding as of | $ | 5,050 | $ | 5,050 | $ | 5,050 | ||||||
| Common stock, no par value, authorized: unlimited shares. Issued and outstanding: 2,369,995 shares as of | 35,554 | 35,554 | 35,554 | |||||||||
| Additional paid-in capital | 89,556,913 | 89,290,193 | 89,290,193 | |||||||||
| Accumulated deficit | (81,672,879 | ) | (78,803,383 | ) | (77,893,723 | ) | ||||||
| Accumulated other comprehensive income | (143,867 | ) | (146,463 | ) | (124,414 | ) | ||||||
| Total Shareholders’ Equity | 7,780,771 | 10,380,951 | 11,312,660 | |||||||||
| Total Liabilities and Shareholders’ Equity | $ | 10,914,350 | $ | 11,371,297 | $ | 12,318,268 | ||||||
(1) All year results have been adjusted for the reverse stock split effective
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Year Ended | Year Ended | Year Ended | ||||||||||
| Revenue | $ | 9,128,666 | $ | 6,711,225 | $ | 1,681,533 | ||||||
| Direct costs of revenue | (5,452,168 | ) | (3,335,819 | ) | (455,468 | ) | ||||||
| Profit from operations | 3,676,498 | 3,375,406 | 1,226,065 | |||||||||
| General and administrative expenses | (2,545,907 | ) | (2,085,518 | ) | (1,469,403 | ) | ||||||
| Depreciation | (3,519,286 | ) | (2,626,332 | ) | (436,451 | ) | ||||||
| Write-off of miners | (474,872 | ) | - | (4,530,950 | ) | |||||||
| Provision for diminution of miners | - | - | (7,364,650 | ) | ||||||||
| Profit/(Loss) on disposal of miners and other net income | 1,780 | 34,830 | (83,125 | ) | ||||||||
| Changes in value of digital assets | 381,669 | 535,115 | 92,115 | |||||||||
| Finance expense | (286,102 | ) | (31,794 | ) | (18,851 | ) | ||||||
| Loss before tax | (2,766,220 | ) | (798,293 | ) | (12,585,250 | ) | ||||||
| Taxation | (103,276 | ) | (111,367 | ) | - | |||||||
| Loss after tax | (2,869,496 | ) | (909,660 | ) | (12,585,250 | ) | ||||||
| Foreign exchange adjustment | 2,596 | (22,049 | ) | (20,053 | ) | |||||||
| Comprehensive loss for the year | $ | (2,866,900 | ) | $ | (931,709 | ) | $ | (12,605,303 | ) | |||
| Basic and diluted loss per ordinary share (1) | $ | (1.21 | ) | $ | (0.39 | ) | $ | (5.32 | ) | |||
| Basic and diluted average number of ordinary shares outstanding (1) | 2,369,995 | 2,369,995 | 2,369,995 | |||||||||
(1) All year results have been adjusted for the reverse stock split effective
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended | For the Year Ended | For the Year Ended | ||||||||||
2025 | 2024 | 2023 | ||||||||||
| Net loss for the year | $ | (2,869,496 | ) | $ | (909,660 | ) | $ | (12,585,250 | ) | |||
| Adjustments to reconcile to non-cash used in operating activities: | ||||||||||||
| Depreciation of property, equipment and vehicles | 3,531,388 | 2,626,332 | 4,973,729 | |||||||||
| Write-off of miners | 474,872 | - | 7,364,650 | |||||||||
| Compensation | 266,720 | - | - | |||||||||
| Changes in operating assets and liabilities: | ||||||||||||
| Other receivables and prepayments | (418,140 | ) | 215,638 | 2,400,297 | ||||||||
| Other payables and accruals | 268,233 | (15,262 | ) | (397,513 | ) | |||||||
| Account prepaid and other deposits | 160,000 | - | - | |||||||||
| Net cash generated from/(used in) operating activities | 1,413,577 | 1,917,048 | 1,755,913 | |||||||||
| Cash flows from investing activities: | ||||||||||||
| Purchase of property and equipment | (3,100,567 | ) | (2,596,673 | ) | (9,250,538 | ) | ||||||
| Utilization of digital assets | (1,225,698 | ) | 936,404 | 5,893,591 | ||||||||
| Net cash investing activities: | (4,326,265 | ) | (1,660,269 | ) | (3,356,947 | ) | ||||||
| Cash from financing activities | ||||||||||||
| Loan from unrelated third party | 3,000,000 | - | - | |||||||||
| Repayment of loans from unrelated third party | (1,125,000 | ) | - | - | ||||||||
| Net cash in financing activities | 1,875,000 | - | - | |||||||||
| Net cash flows for the year | (1,037,688 | ) | 256,779 | (1,601,034 | ) | |||||||
| Effect of exchange rates on cash and cash equivalents | 2,596 | (22,049 | ) | (20,053 | ) | |||||||
| Net (decrease)/increase generated from cash and cash equivalents | (1,035,092 | ) | 234,730 | (1,621,087 | ) | |||||||
| Cash and cash equivalents, beginning of year | 1,118,929 | 884,199 | 2,505,286 | |||||||||
| Cash and cash equivalents, end of year | $ | 83,837 | $ | 1,118,929 | $ | 884,199 | ||||||
