Company: ABTS
Filing Date: 2025-05-30
Form Type: F-3/A
Source: 0001641172-25-013026
Chunk: 5

Company: Abits Group Inc
Filing Date: 2025-05-30
Form: F-3/A
Chunk 5
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 Bitmatrix, through loans or capital contributions, subject to the satisfaction of the applicable government registration and approval requirements. If we provide loans to our subsidiary in mainland China, we will be required to make filings about details of the loans with the State Administration of Foreign Exchange of the PRC (“SAFE”) in accordance with relevant PRC laws and regulations. If our subsidiary in mainland China receives loans, it is only allowed to use the loans for the purposes set forth in these laws and regulations. There have been no loans or such filings with SAFE on loans, or capital contributions, to Bitmatrix since our inception. We do not expect to provide fundings to Bitmatrix in the foreseeable future, which has sufficient cash reserve for its own expenses.

Abit USA, the subsidiary that conducted substantial business operations in the prior three fiscal years, finances not only its own operating expenses in the United States but also settles the corporate expenses of the holding company, Abits, and the limited corporate expenses of Abit HK, both of which have no operations of their own. These advances are treated as inter-company loans which are non-interest bearing and have no fixed terms of repayment.

Abit USA’s inter-company loans for each of the three years ended December 31, 2024 were as follows:

|                                 |     | Year ended December 31 |      2024 |     |     |    2023 |     |     |     2022 |
|:--------------------------------|:----|:-----------------------|----------:|:----|:----|--------:|:----|:----|---------:|
| Amount due from Abits Group Inc |     |                        | 1,241,125 |     |     | 590,188 |     |     | -550,933 |
| Amount due from Abit Hong Kong  |     |                        |   880,841 |     |     | 283,058 |     |     |        — |

Please refer to the Company’s selected consolidated financial information on page 10 and audited consolidated financial statements in the 2024 Annual Report incorporated by reference in this prospectus for more information.

We have never declared or paid any cash dividends on our ordinary shares. We do not have any plan to pay any cash dividends on our shares in the foreseeable future. We currently intend to retain most, if not all, of our available funds and any future earnings to support operations and to finance the growth and development of our business. Any future determination related to our dividend policy will be made at