Abits Group Inc. Achieves Strong Growth and Expansion in Q1 2024, Sets Stage for Continued Progress in Q2
Abits Group Inc - Ordinary Shares (ABTS)
Company Research
Source: GlobeNewswire
Hong Kong, May 22, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc. (NASDAQ: ABTS), a leading digital data center operator specializing in Bitcoin self-mining operations in the United States, is pleased to announce significant achievements and expansion initiatives for the first quarter of 2024, setting the stage for sustained growth throughout the year. During Q1 2024, Abits Group saw a substantial growth in its Bitcoin mining capacity. The company’s hash rates surged from approximately 285 PH/s at the beginning of the quarter to nearly 325 PH/s by its end, driven the successful launch of new production lines. For Q2, Abits Group anticipates further growth, projecting hash rates to exceed 360 PH/s with the introduction of a new Hydro Dry-Cooled line. In addition to operational accomplishments, Abits Group completed key infrastructure projects in Q1, including the expansion of a 1 MW facility in March and the construction of a 100,000-gallon water reservoir to enhance production stabilit
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