v3.25.2
Digital Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Digital Assets [Abstract]  
Schedule of Company’s Digital Assets

The balance of the Company’s digital assets consisted of the following:

 

   As of June 30, 2025 
   Quantity   Cost Basis   Fair Value 
             
Bitcoin   1,532    148,692    163,718 
USDT   7,502,932    7,503    7,549 
Others   42,333    91    93 
Total        156,286    171,360 

 

   As of December 31, 2024 
   Quantity   Cost Basis   Fair Value 
             
Bitcoin   1,313    87,457    125,048 
USDT   4,800,082    4,802    4,817 
Others   46,233    77    75 
Total        92,336    129,940 
Schedule of Movement for Digital Assets

The following table presents the movement for digital assets of the Company for the six months ended June 30, 2025 and 2024:

 

   BTC   USDT   Others   Total 
                 
Balance as of January 1, 2025   125,048    4,817    75    129,940 
Digital assets received from customers for products and services   116,958    57,505    23    174,486 
Revenue generated from Bitcoin self-mining operation   32,357    
-
    
-
    32,357 
Converted (to)/from other digital assets or fiat cash, net   (69,768)   3,433    2    (66,333)
Costs and expenses (paid)/prepaid in digital assets   (70,019)   (60,815)   
-
    (130,834)
Unrealized fair value changes   15,015    66    (7)   15,074 
Realized gain on sale/exchange of Bitcoins   2,426    
-
    
-
    2,426 
Digital assets from borrowings   
-
    5,000    
-
    5,000 
Digital assets pledged to lender or supplier   (31,331)   
-
    
-
    (31,331)
Digital assets pledged from customers   43,032    
-
    
-
    43,032 
Purchase of mining equipment   
-
    (2,457)   
-
    (2,457)
Balance as of June 30, 2025   163,718    7,549    93    171,360 

 

   BTC   USDT   Others   Total 
                 
Balance as of December 31, 2023   43,896    61    21    43,978 
Cumulative effect of the adoption of ASU2023-08   6,436    
-
    
-
    6,436 
Balance as of January 1, 2024   50,332    61    21    50,414 
Digital assets received from customers for products and services   98,832    66,582    10    165,424 
Revenue generated from Bitcoin self-mining operation   111,130    
-
    
-
    111,130 
Converted (to)/from other digital assets or fiat cash, net   (55,796)   (60,842)   6    (116,632)
Costs and expenses (paid)/prepaid in digital assets   (116,622)   (5,534)   77    (122,079)
Unrealized fair value changes   (4,608)   2    3    (4,603)
Realized gain on sale/exchange of Bitcoins   22,762    220    
-
    22,982 
Balance as of June 30, 2024   106,030    489    117    106,636 
Schedule of Reconciliation between Net Income and the Movement of Digital Assets

The following table provides the reconciliation between net income and the movement of digital assets of the Company for the six months ended June 30, 2025 and 2024:

 

   For the Six Months Ended
June 30,		 
   2025   2024 
         
DIGITAL ASSETS FROM OPERATING ACTIVITIES        
         
Revenue recognized from selling products and services which was settled or will be settled in digital assets (a)   158,838    162,702 
Adjusted by the changes of operating assets and liabilities:          
Accounts receivable to be settled in digital assets   (7,663)   1,224 
Contract liabilities received in digital assets   23,311    1,498 
Digital assets received from customers for products and services   174,486    165,424 
           
Revenue recognized from Bitcoin self-mining operation (b)   32,357    111,130 
           
Cost and expenses settled or to be settled by digital assets (c)   (98,881)   (112,043)
Adjusted by the changes of operating assets and liabilities:          
Prepayments made in digital assets to suppliers   (5,720)   (10,731)
Accounts payable to be settled in digital assets   (13,986)   (5)
Payments made in digital assets by a related party on behalf of Company   (11,141)   - 
Other receivables to be settled in digital assets   (4,881)   92 
Other payables to be settled in digital assets   3,682    813 
Inventories   43    (205)
Costs and expenses paid in digital assets   (130,834)   (122,079)
           
Unrealized fair value loss of digital assets   15,074    (4,603)
Realized gain on sale of digital assets   2,426    22,982 
Net digital assets provided by operating activities   93,509    172,854 
           
DIGITAL ASSETS FROM INVESTING ACTIVITIES          
Sales of digital assets in exchange for fiat cash   (76,833)   (130,643)
Digital assets purchased by fiat cash   10,500    14,011 
Digital asset collateral, net   11,701    - 
Purchase of mining equipment   (2,457)   - 
Net digital assets used in investing activities   (57,089)   (116,632)
           
DIGITAL ASSETS FROM FINANCING ACTIVITIES          
Proceeds from long-term loans   5,000    - 
Net digital assets provided by financing activities   5,000    - 
           
Adjustments on the opening balance for adoption of ASU 2023-08   -    6,436 
           
Net increase in digital assets   41,420    62,658 
Digital assets at the beginning of the periods   129,940    43,978 
Digital assets at the end of the periods   171,360    106,636