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Subsequent events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent events

12. Subsequent events

	1.	On February 11, 2021 the Company issued 16,000,000 new ordinary shares at a price of $2.50 per share, for total proceeds of $40 million. $29.8 million was used to purchase bitcoin mining equipment and the balance retained as working capital. On March 5, the first of these machines were installed near Buffalo, New York, United States.
	2.	On April 22, 2022, the Company incorporated a wholly-owned subsidiary in the state of Delaware by statutory conversion from a LLC and renamed it Abit USA, Inc.

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- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 855
-URI https://asc.fasb.org/topic&trid=2122774

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 855
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662

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