On August 6, 2026, CEO Conglin Deng transferred all beneficial interests in Abits Group Inc. to ARC Group International Ltd., resulting in ARC holding approximately 47% of voting power and Mr. Deng holding 0%. The transaction involved existing securities for $5.0 million cash and a $3.5 million promissory note bearing 12% annual interest maturing in August 2027. A contingent provision requires the Company to issue shares worth $5.0 million to Mr. Deng if it completes an acquisition within 180 days, or ARC will pay him $5.0 million cash otherwise. Concurrently, Tao Xu and Chuan Zhan resigned from the Board, replaced by independent directors Phillip Balatsos and Andrew Hancox. Stephen Faucetta was appointed Chief Investment Officer, and Mr. Deng entered an amended employment agreement for 18 months. Abits Group Inc. operates in the financial technology sector.