Company: ABTS
Filing Date: 2025-05-30
Form Type: F-3/A
Source: 0001641172-25-013026
Chunk: 3

Company: Abits Group Inc
Filing Date: 2025-05-30
Form: F-3/A
Chunk 3
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Abits Group Inc is a British Virgin Islands business company, and this is an offering of securities of a British Virgin Islands company. As a holding company with no material operations of its own, substantially all of the Company’s digital data center operations and bitcoin mining business are conducted by our U.S. operating subsidiaries with limited administrative function supported by our subsidiary in mainland China. Our subsidiaries are controlled by the Company through equity ownership. For a description of our corporate structure, see “Corporate History and Structure” beginning on page 5.

Unless otherwise stated, as used in this prospectus, “Abits,” “ABTS,” “we,” “us,” “our” or “the Company” refers to Abits Group Inc, a British Virgin Islands business company that will issue the securities of this offering, and in the context of describing the operations and consolidated financial results of the Company, also includes its consolidated subsidiaries. References to “Abit USA” are to Abit USA, Inc., and both Abit USA and Abits Inc. are the Company’s subsidiaries that conduct substantive business operations in the U.S. References to “Abit HK” are to Abit Hong Kong Limited, a direct holding subsidiary of the Company with no material operations of its own. References to “Bitmatrix” are to Beijing Bitmatrix Technology Co. Ltd, the Company’s indirect subsidiary in mainland China that performs limited administrative function providing intracompany support to the Company and its operating subsidiaries.

Abits is a British Virgin Islands holding company with no material operations of its own and conducts its operations in the U.S. through its U.S. subsidiaries, Abit USA and Abits Inc. Investors in the offering are purchasing the securities of Abits, a British Virgin Islands holding company and not the shares of its subsidiaries in the U.S. or China. This corporate structure involves certain unique risks to investors, including that investors may never hold equity interests in the Company’s subsidiary in mainland China.

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We and our PRC subsidiary may face legal and operational risks associated with having a portion of the operations in China. Because our subsidiary, Bitmatrix, is a PRC company that provides limited intracompany administrative support to us and our other subsidiaries, certain PRC laws and regulations may be applicable to us or Bitmatrix as a result. We may face uncertainties in the interpretation and application of PRC laws and regulations in connection with the limited activities conducted by Bitmatrix if any PRC laws or regulations are applied in a manner that could negatively affect us. Additionally, if we