Abits Group Inc Announces Operational Updates For The Quarter Ended December 31, 2023
January 30 2024 - 4:30PM
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.
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