Abits (US:ABTS) Globenewswire·2025-12-10 21:30Core Viewpoint - Abits Group Inc. reported solid operational progress in Q3 2025, driven by efficiencies at its Tennessee sites and favorable bitcoin prices, despite challenges in its joint-venture operations in Memphis [1][2]. Financial Performance - Total revenue for Q3 2025 reached $1.61 million, a 27.5% increase from $1.26 million in Q3 2024 [6][13]. - Profit from the self-owned mining operation in Duff was $0.76 million, up from $0.39 million in the same quarter last year [6]. - Operating profit before depreciation and overheads totaled $1.19 million, reflecting a 207.1% increase year-over-year [6]. - Loss before taxation narrowed to $0.29 million from a loss of $0.66 million in Q3 2024 [6][8]. Operational Highlights - The self-owned mine in Duff produced a total output of 13.61 bitcoins during the quarter [1]. - The joint-venture with Mendenhall LLC in Memphis faced higher electricity consumption during peak hours, prompting management to review operations [2][15]. - The company expects continued improvement in Memphis operations while the Duff mine is performing optimally [2]. Balance Sheet Overview - As of September 30, 2025, total assets amounted to $13.04 million, an increase from $11.37 million as of December 31, 2024 [5][7]. - Current assets were reported at $588.5 million, down from $1.68 million at the end of 2024 [5]. - Total liabilities increased to $3.31 million from $990,346 in the previous year [7]. Digital Assets - As of September 30, 2025, digital assets totaled $2.49 million, significantly up from $257,753 at the end of 2024 [5][9]. - The company reported a fair value change of digital assets amounting to $9,679 during the quarter [8]. Future Outlook - The company anticipates ongoing improvements in its operations, contingent on bitcoin price stability, which has shown signs of faltering in late 2025 [2]. - Abits Group believes it has established a solid operational base and is exploring further opportunities in the U.S. market [2].