ABTS vs ZNB

ABTS Core

Annual filing released 2025-04-30 · GPT 6 Luna

Hong Kong SAR May 8, 2019 Investment Holding Beijing Bitmatrix Technology Co. Ltd Peoples’ Republic of China December 20, 2019 In-house Support Services Abit USA, Inc Delaware, United States April 26, 2022 Bitcoin Mining Abits Inc. Delaware, United States November 22, 2023 Bitcoin Mining 32 Organization Chart The following diagram illustrates our corporate structure, as of the date of this report: Abits Group Inc 33 Business Overview Bitcoin Mining Operations of bitcoin mining In view of the widespread adoption of blockchain technology and bitcoin worldwide, the Company determined to enter the bitcoin mining industry, which is the production of bitcoin. Management believes that bitcoin mining is profitable and its business plan is viable.

On December 28, 2021 in a Special Meeting of shareholders, the Company approved the issue of up to 1.33 million new ordinary shares of the Company, at a price of $37.50 per share to certain non-US based accredited investors. On February 11, 2022 the Company completed this private placement and issued 1.07 million new shares, raising $40 million, which it has used in bitcoin mining operations. The Company operates in the United States through its wholly-owned subsidiary, Abit USA Inc which has a mining facility in the town of Duff, Tennessee. The accompanying consolidated financial statements reflect the activities of the Company and each of the following entities: Name of entity Background Ownership Abit Hong Kong Limited Investment Holding 100% owned by Abits Group Inc Abit USA, Inc. Bitcoin Mining 100% owned by Abit Hong Kong Limited

ZNB Core

Annual filing released 2025-11-12 · GPT 6 Luna

In April 2025, we commenced cryptocurrency mining via our wholly-owned subsidiary, Model Queen. We acquired specialized mining equipment and commenced mining activities in the final quarter of the fiscal year, generating initial revenue from this new line of business. Cryptocurrency mining is subject to significant volatility and risks, including fluctuations in cryptocurrency prices, changes in mining difficulty, energy costs, and regulatory developments. These factors may materially impact the profitability and cash flows associated with the mining operations.

Revenue. Revenue for the years ended June 30, 2025, increased by 208% to approximately $8.7 million as compared to approximately $2.8 million for the year ended June 30, 2024. During the year ended June 30, 2025, we began our cryptocurrency mining business and generated approximately $8.7 million cryptocurrency mining revenue. There was no revenue from concert and entertainment events or construction management consulting services for the year ended June 30, 2025. During the year ended June 30, 2024, we generated approximately $2.8 million revenue, among which, approximately $2.7 million from sales of concerts and entertainment events and $0.1 million from construction management consulting services. We have organized a few concerts and sports events during the year ended June 30, 2024.

ABTS Not tagged

Annual filing released 2025-04-30 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ZNB Material

Annual filing released 2025-11-12 · GPT 6 Luna

Sale of construction management consulting services is accounted for as a single performance obligation which is satisfied at a point in time at the time the services are performed. (c) Cryptocurrency mining The Company engages in cryptocurrency mining by providing computing power in a third-party operated mining pool. The Company provides a service to perform hash calculations for the third-party operated mining pool, which is an output of the Company’s ordinary activities, in exchange for non-cash consideration in the form of Bitcoin (“BTC”).

The Company has identified the third-party mining pool operator as its customer (the “Customer”). The Company enters into a contract with the Customer to provide its hash calculations to the Customer’s mining pool. The contracts are terminable without penalty at any time by either party, and thus the contract term is shorter than a 24-hour period and the contracts are continuously renewed. Applying the criteria per ASC 606-10-25-1, the contract arises at the point that the Company provides hash calculations to the Customer’s mining pool, which is considered contract inception, because Customer consumption is in tandem with delivery of the hash calculations. The Company has identified a single performance obligation of providing hash calculations for the mining pool operator.

ABTS Not tagged

Annual filing released 2025-04-30 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ZNB Material

Annual filing released 2025-11-12 · GPT 6 Luna

We offer efficient computing and crypto asset mining services for our customers, providing compute on demand from third-party operated mining pools, performing hash calculations under short-term spot contracts in exchange for Bitcoin. After developing experience in artificial intelligence and network technology in the entertainment and metaverse industries, we shifted our focus to digital finance, commencing operations in our cryptocurrency mining business in Kazakhstan in April 2025. We entered into a Strategic Partnership Agreement with SOLV Foundation (“SOLV”), a multi-chain Bitcoin liquid staking and institutional-grade structured finance platform with $2.5 billion in TVL, powering SolvBTC across Binance, Base and Solana. The partnership underscores the Company’s ambition to establish itself as a Nasdaq-listed leader in Bitcoin-centric digital asset finance. Our Operations

Cryptocurrency Mining. We engage in cryptocurrency mining by providing computing power in a third-party operated mining pools. We provide a service to perform hash calculations for the third-party operated mining pool, which is an output of our ordinary activities. We have identified the third-party mining pool operator as our customer. We enter into a contract with our customer to provide our hash calculations to our customer’s mining pool. The contracts are terminable without penalty at any time by either party, and thus the contract term is shorter than a 24-hour period and the contracts are continuously renewed. We receive non-cash consideration in the form of Bitcoin (“BTC”), fair value of which we measure at 23:59:59 UTC on the date of contract inception using the principal market for BTC.