Earnings ·
Abits reports H1 revenue of $3.2M, up to $14M convertible note financing
ABTSAbits Group Inc
Abits Group Inc reported unaudited first-half 2026 results showing revenue of $3.2 million, a 20% decline from the prior year period driven by lower Bitcoin output and market prices at its Duff site. The company recorded a pre-tax loss of $2.54 million as direct costs rose 48%. In subsequent events, Abits entered into a Securities Purchase Agreement on September 14, 2026, for the issuance of a convertible promissory note with an original principal amount of up to $16.47 million and an aggregate purchase price of up to $14 million. Additionally, Stephen Faucetta was appointed CEO and Chairman effective October 6, 2026. The company operates in the Bitcoin mining and digital asset industry.