v3.25.2
Accounts Receivable, net
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Accounts Receivable, net

3. Accounts Receivable, net

 

Accounts receivables consist of the following at:

(Dollars in thousands)  June 30, 2025   December 31, 2024 
Data hosting  $1,714   $1,385 
Demand response service receivable   842    1,159 
Proprietary mining Coinbase receivable   33    37 
Other   304    356 
Accounts receivables, gross   2,893    2,937 
Less: Allowance for expected credit losses   (244)   (244)
Accounts receivables, net  $2,649   $2,693 

 

The Company’s allowance for expected credit loss was $244 thousand at June 30, 2025 and December 31, 2024. For the year ended December 31, 2024, one of the Company’s borrowers for a note receivable was having financial difficulty securing additional financing to pay the note. As such, the Company fully reserved the note balance and incurred a provision on credit loss of approximately $244 thousand. In addition, the Company had a credit provision for approximately $516 thousand due to a pricing dispute with a Bitcoin hosting customer, in which the agreement with the customer was terminated in December 2024. As of December 31, 2024, the Company wrote off the entire allowance with the Bitcoin hosting customer of $516 thousand.

 

 

Rollforward of Allowance of Expected Credit Losses:


 

(Dollars in thousands)  January 1, 2025- June 30, 2025   January 1, 2024 – December 31, 2024 
     
Allowance for expected credit losses, beginning of period  $244   $- 
Current period credit provision   -    760 
Write offs charged against the allowance   -    (516)
Recoveries collected   -    - 
Allowance of expected credit losses, end of period  $244   $244