Abits Group Inc. Reports Unaudited Financial Results for the First Half of 2024

Hong Kong, August 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 where production remained stable for the six months, revenue grew to $3.67 million, consisting of 61.5 bitcoins, compared to the previous period when construction of the mining center in Tennessee was in full swing and there was no production. After taking into account direct costs of revenue of $2.68 million, mainly electricity costs of $1.1 million and depreciation of $1.27 million, the gross profit of the mining operation was $0.75 million.