Abits Group hash rates increased to nearly 325 PH/s at Q1-end, sees Q2 up

Abits Group is pleased to announce significant achievements and expansion initiatives for the first quarter of 2024, setting the stage for sustained growth throughout the year.During Q1 2024 company’s hash rates surged from approximately 285 PH/s at the beginning of the quarter to nearly 325 PH/s by its end, driven the successful launch of new production lines. For Q2, Abits Group anticipates further growth, projecting hash rates to exceed 360 PH/s with the introduction of a new Hydro Dry-Cooled line.In addition to operational accomplishments, Abits Group completed key infrastructure projects in Q1, including the expansion of a 1 MW facility in March and the construction of a 100,000-gallon water reservoir to enhance production stability. This strategic investment ensures uninterrupted operations during maintenance cycles, reducing downtime and optimizing efficiency. The workforce at the LaFollette site remains stable, with four dedicated employees who continually enhance their expertise to support Abits Group’s objectives. Looking forward to Q2, Abits Group is actively negotiating with its power provider to secure an additional 2 MW of power capacity, transitioning to a dynamic 24/7 operation by July 1, 2024. This transition will significantly boost operational efficiency and flexibility.