ABITS GROUP DOUBLES CAPACITY TO 22MW
Abits Group (NASDAQ: ABTS) has announced a major expansion of its Bitcoin mining operations through a new 10MW hosting facility in Memphis, Tennessee, doubling its mining capacity. The company has deployed 400 Antminer T21 units at its Duff operation, achieving a hash rate of approximately 500PH/s.
The Memphis facility, secured through a hosting agreement with 4545 S Mendenhall , will increase ABTS's total power capacity to 22MW and is expected to raise total output to approximately 1EH/s. The company has ordered 800 Antminer T21 units for delivery by January end, with an additional 1,350 units scheduled for deployment before the end of Q1 2025.
Abits Group (NASDAQ: ABTS) ha annunciato una significativa espansione delle sue operazioni di mining di Bitcoin attraverso una nuova struttura di hosting da 10MW a Memphis, Tennessee, raddoppiando la sua capacità di mining. L'azienda ha distribuito 400 unità Antminer T21 nella sua operazione di Duff, raggiungendo un hash rate di circa 500PH/s.
La struttura di Memphis, garantita attraverso un accordo di hosting con 4545 S Mendenhall, aumenterà la capacità totale di ABTS a 22MW e si prevede che porterà l'output totale a circa 1EH/s. L'azienda ha ordinato 800 unità Antminer T21 da consegnare entro la fine di gennaio, con ulteriori 1.350 unità programmate per la distribuzione prima della fine del primo trimestre del 2025.
Abits Group (NASDAQ: ABTS) ha anunciado una importante expansión de sus operaciones de minería de Bitcoin a través de una nueva instalación de hosting de 10MW en Memphis, Tennessee, duplicando su capacidad de minería. La empresa ha implementado 400 unidades Antminer T21 en su operación de Duff, logrando una tasa hash de aproximadamente 500PH/s.
La instalación de Memphis, asegurada a través de un acuerdo de hospedaje con 4545 S Mendenhall, incrementará la capacidad total de ABTS a 22MW y se espera que aumente la producción total a aproximadamente 1EH/s. La compañía ha ordenado 800 unidades Antminer T21 para entrega a finales de enero, con 1,350 unidades adicionales programadas para ser desplegadas antes del final del primer trimestre de 2025.
Abits Group (NASDAQ: ABTS)가 메모필스, 테네시주에 10MW 호스팅 시설을 통해 비트코인 채굴 작업을 대규모로 확장하고 있으며, 이를 통해 채굴 용량이 두 배로 증가합니다. 이 회사는 더프 운영에서 400개의 Antminer T21 장비를 배치하여 약 500PH/s의 해시 비율을 달성했습니다.
메모필스 시설은 4545 S Mendenhall과의 호스팅 계약을 통해 확보되었으며, ABTS의 총 전력 용량을 22MW로 증가시키고, 총 출력을 약 1EH/s로 높일 것으로 예상됩니다. 이 회사는 1월 말까지 배송될 800개의 Antminer T21 장비를 주문했으며, 2025년 1분기 종료 전까지 추가로 1,350개의 장비가 배치될 예정입니다.
Abits Group (NASDAQ: ABTS) a annoncé une importante expansion de ses opérations de minage de Bitcoin à travers une nouvelle installation d'hébergement de 10MW à Memphis, Tennessee, doublant ainsi sa capacité de minage. L'entreprise a déployé 400 unités Antminer T21 dans son opération de Duff, atteignant un taux de hachage d'environ 500PH/s.
L'installation de Memphis, sécurisée par un accord d'hébergement avec 4545 S Mendenhall, augmentera la capacité totale de ABTS à 22MW et devrait porter la production totale à environ 1EH/s. L'entreprise a commandé 800 unités Antminer T21 devant être livrées d'ici la fin janvier, avec 1 350 unités supplémentaires prévues pour être déployées avant la fin du premier trimestre 2025.
Abits Group (NASDAQ: ABTS) hat eine bedeutende Erweiterung seiner Bitcoin-Mining-Operationen durch eine neue 10MW-Hosting-Anlage in Memphis, Tennessee angekündigt und damit seine Mining-Kapazität verdoppelt. Das Unternehmen hat 400 Antminer T21-Einheiten in seiner Duff-Betriebseinheit bereitgestellt und erreicht eine Hash-Rate von etwa 500PH/s.
Die Memphis-Anlage, die durch einen Hosting-Vertrag mit 4545 S Mendenhall gesichert ist, wird die Gesamtstromkapazität von ABTS auf 22MW erhöhen und soll die Gesamtproduktion auf etwa 1EH/s steigern. Das Unternehmen hat 800 Antminer T21-Einheiten bestellt, die bis Ende Januar geliefert werden sollen, und zusätzlich 1.350 Einheiten, die vor Ende des ersten Quartals 2025 bereitgestellt werden sollen.
- Doubles mining capacity with new 10MW Memphis facility
- Total power capacity increases to 22MW
- Hash rate expected to reach 1EH/s from current 500PH/s
- Secured order of 2,150 new Antminer T21 units
- Significant capital expenditure required for equipment procurement
- Increased exposure to Bitcoin price volatility
Insights
The doubling of ABTS's mining capacity represents a substantial operational leap, particularly given the current Bitcoin market dynamics. The deployment of 400 Antminer T21 units and planned addition of 2,150 more miners positions ABTS strategically ahead of the upcoming Bitcoin halving event. The expansion to 22MW total power capacity and projected 1EH/s hashrate indicates a well-timed scaling strategy.
The Memphis facility choice is particularly shrewd - Tennessee's industrial electricity rates average around
For a micro-cap miner with a market cap of just
The technical specifications of this expansion reveal strategic foresight in hardware selection. The Antminer T21, with its superior efficiency metrics, represents a significant technological upgrade. The projected 500PH/s hashrate from the Duff operation, scaling to 1EH/s total, indicates a well-architected deployment strategy that balances power consumption with mining output.
The Memphis facility's infrastructure integration appears well-planned, leveraging existing regional power distribution networks. The phased miner procurement strategy - 800 units in January followed by 1,350 units in Q1 - suggests a methodical approach to scaling that allows for proper testing and optimization of cooling systems and power management protocols. This careful staging is important for maintaining operational stability while doubling capacity.
Hong Kong, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a U.S.-based digital data center operator specializing in Bitcoin self-mining operations, today announced a significant expansion of its operations through a new 10MW hosting facility in Memphis, Tennessee, effectively doubling its mining capacity.
The Company has successfully completed the deployment of 400 units of Antminer T21 at its Duff operation which now runs a total hash rate of approximately 500PH/s. The Memphis addition, secured through a hosting agreement with 4545 S Mendenhall LLC, will increase the Company's total power capacity to 22 MW and is expected to raise the total output to approximately 1EH/s.
“This strategic expansion marks a pivotal moment in our growth trajectory” commented Phil Hicks, the General Manager (North America) “The new Memphis facility complements our existing operations in Tennessee and positions us to significantly enhance our mining capabilities in a region known for its competitive energy costs and reliable infrastructure.”
The Company has already initiated the first phase of miner procurement, with an order of 800 Antminer T21 for delivery by the end of January with the remaining 1,350 units scheduled for procurement and total deployment before the end of the first quarter of 2025.
The expansion aligns with the’ strategic vision to strengthen its position in the North America while maintaining operational efficiency and technological advancement.
About Abits Group Inc.
Abits Group Inc. (NASDAQ: ABTS) is a U.S.-based digital data center operator specializing in Bitcoin self-mining operations. For more information, please visit www.abitsgroup.com or contact 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.
For further information, please contact:
Wanhong Tan
Chief Financial Officer
+852 9855 6575
ir@abitgrp.com
FAQ
What is ABTS's new total power capacity after the Memphis facility expansion?
How many new Antminer T21 units has ABTS ordered for its expansion?
What is ABTS's expected hash rate after the Memphis expansion?
When will ABTS complete the deployment of all new miners at the Memphis facility?
