Company: ABTS
Filing Date: 2025-12-02
Form Type: F-3/A
Source: 0001493152-25-025631
Chunk: 32

Company: Abits Group Inc
Filing Date: 2025-12-02
Form: F-3/A
Chunk 32
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 the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As such, we are exempt from certain provisions applicable to United States domestic public companies. For example:

| ● | we                                                                                                                                  
 are not required to provide as many Exchange Act reports or provide periodic and current reports as frequently as a domestic public 
 company;                                                                                                                            |

| ● | we                                                                                                                                
 are exempt from certain U.S. federal securities law provisions applicable to U.S. domestic issuers and are also permitted to rely 
 on exemptions from certain Nasdaq corporate governance standards applicable to U.S. issuers, and such exemptions may afford less  
 protection to shareholders;                                                                                                       |

| ● | we                                                                                                          
 are not required to provide the same level of disclosure on certain issues, such as executive compensation; |

| ● | we                                                                                                                                         
 are exempt from certain provisions of Regulation FD aimed at preventing issuers from making selective disclosures of material information; 
 and                                                                                                                                        |

| ● | we                                                                                                                                  
 are not required to comply with the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations 
 in respect of a security registered under the Exchange Act.                                                                         |

| 10 |

Cash Flows through Our Organization

Abits is a holding company with no material operations of its own. It conducts substantially all of its operations through its principal subsidiary based in the U.S., Abit USA.

Our PRC subsidiary, Bitmatrix, is a stand-alone operation that has its own banking account in China, with cash reserves of approximately RMB0.45 million (approximately $62,000) as of June 30, 2025, sufficient for its own use until December 2025. A decision is expected to be made regarding the closure of Bitmatrix before the end of the 2025 fiscal year. Bitmatrix does not rely on any funding from Abits, the public holding company, or from any of other subsidiary companies. Bitmatrix’s expenses are solely in Renminbi.

Abit USA, the subsidiary conducting our principal business operations in the prior three fiscal years, finances not only its own operating expenses in the U.S., but also settles the corporate expenses of the holding company, Abits, and the limited corporate expenses of Abit HK, both of which have no material operations of their own. These advances were treated as inter-company loans which are non-interest bearing and have no fixed terms of repayment. Abit USA derives its funds from the sale of bitcoins generated from its bitcoin mining operations.

Abit USA’s