IPO - Abits Group Inc

Form Type: F-3

Filing Date: 2025-01-21

Corporate Action: Ipo

Type: New

Accession Number: 000149315225003076

Filing Summary: Abits Group Inc is filing a registration statement under the Securities Act of 1933 to register an aggregate of up to $100,000,000 of securities which may be offered periodically. This includes ordinary shares, preferred shares, debt securities, warrants, rights, or units. The prospectus outlines the nature of their business, which is focused on digital data center operations and bitcoin mining through subsidiaries based in the U.S. The registration statement indicates the approximate date of commencement for the public sale of these securities as to be determined. The filing mentions the current market value of their outstanding ordinary shares held by non-affiliates, which is approximately $17.4 million. The company's business model includes operational strategies aimed at scaling their mining capacities and mitigating risks associated with market fluctuations and the competitive nature of the mining industry. Operations are run primarily through Abit USA, Inc., located in Tennessee, where they focus on mining bitcoin. The document emphasizes their commitment to sustainable practices in the rapidly evolving cryptocurrency landscape and discusses the technological developments in machinery used for mining, including the shift from CPUs to ASIC chips. Furthermore, it mentions their intentions to maintain transparent financial practices and the outline of risks associated with their operations and financial projections.

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