Abits Group Reports continued growth in Q2
Abits Group (NASDAQ: ABTS), a leading data center operator specializing in bitcoin mining in the US, reported continued growth in Q2 2024. Despite a decrease in mining output to 24.09 bitcoins from 36.9 in Q1 due to the halving event, the company achieved a higher hash rate of 360 PH/s. Abits expects to reach 400 PH/s in Q3.
The company introduced hydro cooling in new production lines, improving energy efficiency. A 100,000-gallon water reservoir ensured uninterrupted production. Abits acquired a 55-acre property in Wisconsin for $0.65 million, planning to build a 22MW site expandable to 35MW. Construction is set to begin in Q3 2024 for completion in Q1 2025. Despite industry challenges, Abits remains confident in bitcoin mining and seeks to diversify revenue streams.
Abits Group (NASDAQ: ABTS), un operatore leader nel settore dei data center specializzato nel mining di bitcoin negli Stati Uniti, ha riportato una crescita continua nel secondo trimestre del 2024. Nonostante una diminuzione nella produzione di mining a 24,09 bitcoin rispetto ai 36,9 del primo trimestre a causa dell'evento di halving, l'azienda ha raggiunto un hash rate più elevato di 360 PH/s. Abits prevede di raggiungere 400 PH/s nel terzo trimestre.
L'azienda ha introdotto il raffreddamento ad acqua nelle nuove linee di produzione, migliorando l'efficienza energetica. Un serbatoio d'acqua da 100.000 galloni ha garantito una produzione ininterrotta. Abits ha acquisito una proprietà di 55 acri nel Wisconsin per 0,65 milioni di dollari, pianificando di costruire un sito da 22 MW espandibile a 35 MW. La costruzione dovrebbe iniziare nel terzo trimestre del 2024 con completamento nel primo trimestre del 2025. Nonostante le sfide del settore, Abits rimane fiduciosa nel mining di bitcoin e cerca di diversificare le proprie fonti di entrate.
Abits Group (NASDAQ: ABTS), un operador líder de centros de datos especializado en la minería de bitcoin en los EE. UU., reportó un crecimiento continuo en el segundo trimestre de 2024. A pesar de una disminución en la producción de minería a 24.09 bitcoins desde 36.9 en el primer trimestre debido al evento de halving, la compañía logró un mayor hash rate de 360 PH/s. Abits espera alcanzar 400 PH/s en el tercer trimestre.
La empresa introdujo refrigeración por agua en las nuevas líneas de producción, mejorando la eficiencia energética. Un reservorio de agua de 100,000 galones aseguró una producción ininterrumpida. Abits adquirió una propiedad de 55 acres en Wisconsin por 0.65 millones de dólares, con planes de construir un sitio de 22 MW ampliable a 35 MW. La construcción está programada para comenzar en el tercer trimestre de 2024 y completarse en el primer trimestre de 2025. A pesar de los desafíos de la industria, Abits se mantiene confiada en la minería de bitcoin y busca diversificar sus flujos de ingresos.
Abits Group (NASDAQ: ABTS)는 미국에서 비트코인 채굴을 전문으로 하는 선도적인 데이터 센터 운영자로서 2024년 2분기에 지속적인 성장을 보고했습니다. Halving 이벤트로 인해 1분기 36.9에서 24.09 비트코인으로 채굴량이 감소했음에도 불구하고, 회사는 360 PH/s의 더 높은 해시레이트를 달성했습니다. Abits는 3분기에 400 PH/s에 도달할 것으로 예상하고 있습니다.
회사는 새로운 생산 라인에 수냉식 냉각을 도입하여 에너지 효율성을 개선했습니다. 100,000갤런 규모의 물 저수조가 중단 없는 생산을 보장했습니다. Abits는 0.65백만 달러에 위스콘신에 55에이커의 부동산을 인수하고, 22MW 규모의 확장이 가능한 시설을 건설할 계획입니다. 공사는 2024년 3분기에 시작되어 2025년 1분기 완료될 예정입니다. 업계 도전에도 불구하고 Abits는 비트코인 채굴에 대한 자신감을 유지하고 있으며, 수익원 다각화를 추구하고 있습니다.
Abits Group (NASDAQ: ABTS), un leader dans l'exploitation de centres de données spécialisé dans le minage de bitcoin aux États-Unis, a signalé une croissance continue au deuxième trimestre 2024. Malgré une diminution de la production de minage à 24,09 bitcoins contre 36,9 au premier trimestre en raison de l'événement de halving, l'entreprise a atteint un taux de hachage supérieur de 360 PH/s. Abits s'attend à atteindre 400 PH/s au troisième trimestre.
L'entreprise a introduit un refroidissement par hydromètre dans ses nouvelles lignes de production, améliorant ainsi l'efficacité énergétique. Un réservoir d'eau de 100 000 gallons a assuré une production ininterrompue. Abits a acquis un terrain de 55 acres dans le Wisconsin pour 0,65 million de dollars, avec des projets de construction d'un site de 22 MW extensible à 35 MW. La construction est prévue pour débuter au troisième trimestre de 2024 et se terminer au premier trimestre de 2025. Malgré les défis de l'industrie, Abits reste confiant dans le minage de bitcoin et cherche à diversifier ses sources de revenus.
Abits Group (NASDAQ: ABTS), ein führender Betreiber von Rechenzentren, der sich auf das Bitcoin-Mining in den USA spezialisiert hat, berichtete im zweiten Quartal 2024 von kontinuierlichem Wachstum. Trotz eines Rückgangs der Mining-Produktion auf 24,09 Bitcoins von 36,9 im ersten Quartal aufgrund des Halving-Ereignisses erreichte das Unternehmen eine höhere Hashrate von 360 PH/s. Abits erwartet, im dritten Quartal 400 PH/s zu erreichen.
Das Unternehmen führte Wasserkühlung in neuen Produktionslinien ein, wodurch die Energieeffizienz verbessert wurde. Ein Wasserreservoir mit 100.000 Gallonen sorgte für eine unterbrechungsfreie Produktion. Abits erwarb ein 55 Hektar großes Grundstück in Wisconsin für 0,65 Millionen Dollar und plant, eine 22-MW-Anlage zu bauen, die auf 35 MW ausbaubar ist. Der Bau soll im dritten Quartal 2024 beginnen und im ersten Quartal 2025 abgeschlossen sein. Trotz der Herausforderungen in der Branche bleibt Abits zuversichtlich im Bitcoin-Mining und strebt an, seine Einnahmequellen zu diversifizieren.
- Increased hash rate to 360 PH/s in Q2, with expected growth to 400 PH/s in Q3
- Introduction of hydro cooling for improved energy efficiency
- Acquisition of 55-acre property in Wisconsin for $0.65 million
- Plans to build a new 22MW site, expandable to 35MW
- Mining output decreased to 24.09 bitcoins in Q2 from 36.9 in Q1 due to halving event
Insights
Abits Group's Q2 report reveals a mixed performance. The
- Increased hash rate to 360 PH/s, with expectations of 400 PH/s next quarter
- Implementation of energy-efficient hydro cooling
- Acquisition of a
$0.65 million property for expansion
The planned 22MW site (expandable to 35MW) signals growth potential, but investors should monitor construction progress and regulatory approvals. While the company's commitment to the bitcoin mining industry is clear, the mention of exploring "other revenue streams" suggests a prudent diversification strategy in the face of industry challenges.
Abits Group's technological advancements are noteworthy. The shift to hydro cooling is a game-changer, offering superior energy efficiency and reduced environmental impact compared to traditional air cooling. This could lead to significant cost savings and improved sustainability credentials.
The increase in hash rate to 360 PH/s, with a target of 400 PH/s, demonstrates the company's commitment to scaling operations. However, the real test will be maintaining profitability post-halving. The 100,000-gallon water reservoir's role in ensuring uninterrupted production during maintenance is a smart operational move, highlighting the company's foresight in infrastructure planning.
Abits Group's performance reflects broader industry trends post-halving. The bitcoin mining sector faces challenges, including increased competition and reduced block rewards. Abits' strategy of operational expansion and efficiency improvements aligns with industry best practices.
The planned 22MW site in Wisconsin represents a significant capacity increase, potentially positioning Abits for future growth. However, investors should note the execution risks associated with construction and regulatory approvals. The company's hint at diversification is prudent, given the volatile nature of bitcoin mining. Monitoring Abits' ability to innovate and adapt in this challenging environment will be important for assessing its long-term prospects.
Hong Kong, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc (NASDAQ: ABTS), a leading data center operator specializing in bitcoin mining operations in the United States, is pleased to report its continued progress in the second quarter of 2024.
Mining output in this quarter was 24.09 bitcoins, compared with 36.9 bitcoins in the first quarter, the decline largely attributed to the halving of mining rewards in late April. This decrease occurred despite the Company achieving a higher hash rate in the second quarter of 360 PH/s as new production was brought online. We expect to hit a hash rate of about 400 PH/s in the next quarter.
The improvement in the hash rate is attributed to the Company’s decision to introduce hydro cooling in its new production lines. This alternative cooling method, instead of the use of air fans, has the advantage of being more energy-efficient and less pollutive in terms of noise and dust. The 100,000-gallon water reservoir completed in Q1 enabled production to remain uninterrupted during the water maintenance shutoffs.
As previously reported, the Company acquired a 55-acre property in the town of Bloomer, Chippewa County in Wisconsin in April at a cost of
The Company has reaffirmed its confidence in the bitcoin mining industry despite industry challenges and will continue to explore other revenue streams to maximize returns.
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 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 of1995. 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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