v3.26.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Revenue and Segment Gross Profit Reviewed by the CODM

The Year Ended December 31, 2025

 

   Cloud
services		   Colocation
services		   Total 
Revenue from external customers $68,753,609  $8,913,816  $77,667,425 
                
Reconciliation of revenue               
Other revenue (a)      1,496,827   1,496,827 
Total consolidated revenue          79,164,252 
                
Less:               
Electricity costs  2,450,710   1,438,218   3,888,928 
Datacenter lease expense  5,410,230   1,025,851   6,436,081 
GPU lease expense  14,741,928   -   14,741,928 
Wage expense  -   406,787   406,787 
Customer support contractor fees  1,124,902   -   1,124,902 
Other segment items (b)  2,858,593   579,679   3,438,272 
                
Segment gross profit $42,167,246  $5,463,281  $47,630,527 

 

(a)Other revenue is primarily attributable to equipment leasing revenue and is therefore not included in the total for segment gross profit.

 

(b)All amounts included within Other segment items are individually insignificant.
Schedule of Reconciliation of Segment Gross Profit to Net Income before Taxes

The following table presents the reconciliation of segment gross profit to net income before taxes:

 

   For the Years Ended
December 31,		 
   2025   2024 
Segment gross profit $47,630,527  $26,873,146 
           
Reconciling Items:          
Other revenue (a)  1,496,827   550,260 
Depreciation and amortization expenses  (23,440,884)  (16,511,406)
General and administrative expenses  (52,507,246)  (10,283,615)
Net loss from disposal of property and equipment  (372,993)  - 
Other income, net  1,425,399   1,615,634 
Net (loss) income before taxes $(25,768,370) $2,244,019 

 

(a)Other revenue is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit
Schedule of Geographic Information for Long Lived Assets

Long-lived assets consist of property, plant and equipment, operating lease right-of-use assets and finance lease right-of-use assets. The geographic information for long-lived assets as of December 31, 2025 and December 31, 2024 are as follows:

 

   For the Years Ended 
   December 31,
2025		   December 31,
2024		 
United States $124,522,633  $- 
Iceland  113,516,239   59,766,182 
Canada  122,776,181   43,981,419 
  $360,815,053  $103,747,601 
Schedule of Revenue By Geographic Location

Revenue by geographic location, based on the location where services are provided by the Company to the customer, with no other country individually comprising greater than 10% of total revenue, are as follows:

 

   For the Years Ended 
   December 31,
2025		   December 31,
2024		 
Iceland $69,167,349  $46,190,367 
Canada  8,913,816   1,361,241 
Other countries  1,083,087   87,629 
  $79,164,252  $47,639,237