Abits Group Inc
ABTS · Finance Services · EDGAR filings ↗
Grade
F38Micro-cap pivoting into bitcoin mining with essentially no cash and acute going-concern risk.
Strengths
- Headline operating margin and ROIC percentiles flattered by accounting/scale artifacts (not durable)
- Revenue and net loss improved year over year
Risks
- Cash runway ~0.2 quarters (8.8th pct) and current ratio 0.33 — imminent liquidity crisis
- Negative returns (ROE -37%, ROA -26%), history of operating losses, recent reverse split and Nasdaq bid-price deficiency
- China/PCAOB governance and bitcoin-price dependence add binary risk
Notable findings
- Net lossNet loss (net margin -31.4%)
- Cash burnNegative free cash flow (-1.7M)
- Weak liquidityCurrent ratio 0.33 (<1)
Key metrics
Gross margin
40.3%
Operating margin
40.3%
Net margin
-31.4%
Return on equity
-36.9%
Return on assets
-26.3%
ROIC
35.6%
Revenue growth (QoQ)
36.0%
Debt / equity
0.0×
Current ratio
0.3×
Free cash flow
-$2M
Tangible book value
$8M
Cash & investments
$84K
Cash runway
0q
Stock comp / revenue
2.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-15 | Deng Conglin | Option exercise | 40K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001493152-26-019612 ↗ |
| 20-F | 2025-04-30 | 2024-12-31 | 0001641172-25-007826 ↗ |
| 20-F | 2024-04-30 | 2023-12-31 | 0001493152-24-017245 ↗ |
| 20-F | 2023-05-15 | 2022-12-31 | 0001493152-23-017509 ↗ |
| 20-F | 2022-05-13 | 2021-12-31 | 0001493152-22-013323 ↗ |
| 20-F | 2022-02-07 | 2020-12-31 | 0001493152-22-003327 ↗ |