Company: ABTS
Filing Date: 2025-05-30
Form Type: F-3/A
Source: 0001641172-25-013026
Chunk: 17

Company: Abits Group Inc
Filing Date: 2025-05-30
Form: F-3/A
Chunk 17
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 we are eligible for the additional grace period because we met the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the bid price requirement and our written notice to Nasdaq of our intentions to cure the deficiency by effecting a reverse stock split, if necessary.

On December 10, 2024, at the Company’s annual meeting of shareholders, shareholder approved a share consolidation of the Company’s authorized and issued shares at a ratio ranging from any whole number between one-for-six and one-for-fifteen, with the exact ratio within such range to be determined by the Board in its discretion, and an amendment and restatement to the Company’s memorandum and articles of association giving effect to the share consolidation.

On February 13, 2025, the Board of Directors
approved a share consolidation of the Company’s authorized and issued ordinary shares and preferred shares at the ratio of one-for-fifteen
(the “Reverse Split”). The Reverse Split of the ordinary shares was effected on the Nasdaq Capital Market at the open of
business on March 10, 2025. Following the completion of the Reverse Split, the Company currently has 2,370,139 ordinary shares and 333,333
preferred shares outstanding.

On March 24, 2025, Nasdaq notified
the Company that it has determined that for 10 consecutive business days, from March 10, 2025 through March 21, 2025, the closing bid
price of the Company’s ordinary shares has been at $1.00 per share or greater. As a result, the Company has regained
compliance with Nasdaq’s Minimum Bid Price Requirement.

Summary of Risk Factors

Investing in our ordinary shares involves a high degree of risk. This summary does not address all of the risks that we face. Please refer to the information contained in and incorporated by reference under the heading “Risk Factors” on page 12 of this prospectus.

Risks Related to Our Business and Operations

| ● | Our                                                                                                                                          
 results of operations are expected to vary with bitcoin price volatility.                                                                    |
| ● | Our                                                                                                                                          
 mining operating costs could outpace our mining revenues, which could seriously harm our business or increase our losses.                    |
| ● | We                                                                                                                                           
 have an evolving business model which is subject to various uncertainties.                                                                   |
| ● | Regulatory                                                                                                                                   
 changes or actions may alter the nature of an investment in us or restrict the use of cryptocurrencies