v3.25.2
Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Parties Related parties
Name of related parties   Relationship with the Company
Bitmain Technologies Holding Company and its affiliates (“Bitmain”)   Related parties of one of the Company’s shareholders
Mr. Liang Lu   Ultimate controller of the Company
Schedule of Significant Related Party Transactions Other than disclosed elsewhere, the Company had the following significant related party transactions for the six months ended June 30, 2024 and 2023:
   For the Six Months Ended
June 30,		 
   2025   2024 
         
Services provided by:          
- Bitmain   89,002    88,989 
Schedule of Related Party Balances The Company had the following related party balances as of June 30, 2025 and December 31, 2024:
   As of
June 30,
2025		   As of
December31,
2024		 
         
Amount due from related parties, net:        
- Mr. Liang Lu   61    25 
- Bitmain (i) (ii)   28,491    31,512 
           
Pledged Bitcoins- current          
- Bitmain (Note 4)   9,397    12,569 

 

(i) The amounts due from Bitmain as of June 30, 2025 and December 31, 2024 represented the net balance of hosting services fees payable, prepaid hash rate fees and mining equipment purchase price.

 

(ii) The Company had outstanding payables to Bitmain under a Framework Sales and Purchase Agreement relating to a mining machine order placed by one of its wholly-owned subsidiaries. To partially settle these payables, the Company issued 582,940 Class A ordinary shares (par value $0.0001 per share) to Bitmain at $4.15 per share, for the settlement of payables amounted to $2,419,200.