Hong Kong, Oct. 11, 2024 — Abits Group Inc (the “Company”) (NASDAQ: ABTS), a US-based bitcoin mining and related services company, announced on October 10, 2024, that it has received an extension from Nasdaq Stock Market LLC (“NASDAQ”) to meet the minimum bid price requirement. This extension grants the Company an additional 180 calendar days, until April 7, 2025, to comply. To regain compliance, the closing bid price of the Company’s common shares must be at least $1.00 per share or greater for ten consecutive business days by April 7, 2025.

About Abits Group Inc

Abits Group Inc (formerly Moxian (BVI) Inc), a British Virgin Islands-based company incorporated in May 2021, is the surviving company following its merger with Moxian, Inc. in August 2021. Abits Group Inc is a digital company with self-mining operations in Tennessee through a wholly owned subsidiary, ABIT USA, Inc.

Forward-Looking Statements

This announcement includes forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended. These statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may use terms like “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” Believe, “estimate”, “potential”, “continue”, “in progress”, “goal”, “guidance expectations”, and similar expressions. The company may also include such statements in its periodic reports to the US Securities and Exchange Commission (“SEC”), annual reports to shareholders, press releases and other written materials, as well as oral statements made by third parties to the company’s management, directors or employees. Any statements that are not historical facts, including statements about the company’s philosophy and expectations, are forward-looking statements. These statements involve factors, risks, and uncertainties that could lead to actual results differing materially from those presented in the forward-looking statements. These factors and risks include, but are not limited to: company’s goals and strategies; future business development; financial status and operating results; expected growth of bitcoin mining industry and Internet media marketing industry; demand and acceptance of the company’s products and services; the relationship between the company and strategic partners; industry competition; and policies and regulations related to the company’s structure, business and industry. More detailed information about these and other risks and uncertainties can be found in the company’s filings with the Securities and Exchange Commission. All information provided in the company’s introduction is the latest information as of the date of publication of the company. Except as required by law, the company is not obligated to update this information.

For further information, please contact:

Wanhong Tan
Chief Financial Officer
+852 9855 6575