ABTS Abits Group Ltd

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2025

 

Commission File Number: 333-256665

 

Abits Group Inc

 

Level 24 Lee Garden One 33 Hysan Avenue

Causeway Bay

Hong Kong SAR, China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

Explanatory Note:

 

As previously reported, on April 12, 2024, the Registrant received a letter from The Nasdaq Stock Market LLC. (“Nasdaq”) notifying the Registrant that the minimum bid price per share of its ordinary shares was below $1.00 for a period of 30 consecutive business days and that the Registrant did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Listing Rule”).

 

The Registrant was provided 180 calendar days, or until October 9, 2024, to regain compliance with the Listing Rule. On October 10, 2024, Nasdaq granted the Registrant an additional 180 calendar days, or until April 7, 2025, to regain compliance.

 

Since then, Nasdaq has determined that for 10 consecutive business days, from March 10, 2025 through March 21, 2025, the closing bid price of the Registrant’s ordinary shares has been at $1.00 per share or greater. On March 24, 2025, Nasdaq notified the Registrant that it has regained compliance with the Listing Rule and the matter is now closed.

 

A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 6-K and is incorporated herein by reference.

 

EXHIBIT INDEX

 

Exhibit		Description
99.1		Press release dated March 25, 2025, entitled “Abits Group Inc Regains Compliance with NASDAQ Minimum Bid Price Requirement”

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

		ABITS GROUP INC
Date:	March 25, 2025	By:	/s/ Conglin Deng
		Name:	Conglin Deng
		Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

 

 

Abits Group Inc Regains Compliance with NASDAQ Minimum Bid Price Requirement

 

Hong Kong, March 25, 2025 (GLOBE NEWSWIRE) — Abits Group Inc (the “Company”) (NASDAQ: ABTS), a company engaged in bitcoin mining and related services in the United States, announced today that on March 24, 2025, it received notification from The Nasdaq Stock Market LLC (“NASDAQ”) confirming the Company has regained compliance with NASDAQ’s minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ noted this matter is now closed.

 

About Abits Group Inc

 

Abits Group Inc (formerly Moxian (BVI) Inc), a company organized in the British Virgin Islands in May 2021, is the surviving company following its merger with Moxian, Inc. in August 2021. Abits Group Inc is a new generation digital company, with self-mining operations in the State of Tennessee through a wholly owned subsidiary, ABIT USA, Inc.

 

Forward-Looking Statements

 

This announcement contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” Believe, “estimate”, “potential”, “continue”, “in progress”, “goal”, “guidance expectations” and similar statements are identified. The company may also include in its periodic reports to the US Securities and Exchange Commission (“SEC”), annual reports to shareholders, press releases and other written materials, as well as oral statements from third parties to the company’s management, directors or employees. Any statements that are not historical facts, including statements about the company’s philosophy and expectations, are forward-looking statements that involve factors, risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These factors and risks include, but are not limited to, the following: company’s goals and strategies; future business development; financial status and operating results; expected growth of bitcoin mining industry and Internet media marketing industry; demand and acceptance of the company’s products and services; the relationship between the company and strategic partners; industry competition; and policies and regulations related to the company’s structure, business and industry. More detailed information about these and other risks and uncertainties is included in the company’s filings with the Securities and Exchange Commission. All information provided in the company’s introduction is the latest information as of the date of publication of the company. Except as provided by applicable law, the company is not obligated to update such information.

 

For further information, please contact:

 

Wanhong Tan

Chief Financial Officer

+852 9855 6575

yf@abitgrp.com

 

 

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