finance
Abits Group Shares Rise 48% After Hours on Fiscal 2025 Results
Abits Group Inc. reported a 37% revenue increase to $9.13 million for fiscal year 2025, up from $6.71 million the previous year. The company also expanded its bitcoin holdings to 15.99 BTC from 2.58 BTC. Shares surged 48.65% to $1.65 in after-hours trading following the announcement.
Apr 30, 1:29 AM·1m read1 source
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Abits Group Inc. (NASDAQ: ABTS) shares increased 48.65% to $1.65 in after-hours trading on Wednesday, according to Benzinga. The rise followed the company's release of fiscal year 2025 financial results, which showed revenue growth and margin expansion.
The results cover the period ended December. Revenue reached $9.13 million, a 37% increase from $6.71 million in fiscal year 2024. Gross profit was $3.68 million, with a gross margin of about 40%. Total assets stood at $10.91 million, and shareholders' equity was $7.78 million.
The company described 2025 as a milestone year, noting the launch of its Memphis facility and a near doubling of hash rate capacity. This occurred despite the April 2024 bitcoin halving, which reduced mining rewards. The company mined 89.09 BTC at its sites in Duff and Memphis, Tennessee. Bitcoin holdings grew to 15.99 BTC from 2.58 BTC, according to the announcement.
Group operates digital data centers and has a market capitalization of $3.51 million. The stock's 52-week high is $10.86, and its 52-week low is $0.97. The Relative Strength Index stands at 34.07. The stock closed the regular session down 8.26% at $1.11. Over the past 12 months, shares have declined 56.98%. Benzinga reported that the stock is near its annual low.
