Abits group inc secures loan for memphis expansion, doubling mining capacity by early april 2025

Hong kong, march 19, 2025 (globe newswire) -- abits group inc (the “company”) (nasdaq: abts), a bitcoin mining and related services company operating in the united states, announced today that its wholly owned subsidiary, abit usa, inc. (“abit usa”), has secured a $3.0 million loan from an unrelated third party to fund the purchase of new antminer s19xp machines for its new operational expansions in memphis, tennessee. the deployment of these miners is expected to be completed by the end of march or early april 2025, effectively doubling abit usa's mining capacity as it expands power capacity from the current 10mw to 22mw. as previously announced, the memphis hosting facility is expected to come online in the second quarter of 2025. the loan, which carries a simple interest rate of 12% per annum, is secured by abit usa's assets located in duff, tennessee.
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