| Schedule of Segment Reporting Information, by Segment |
The Specialty Finance segment generates revenue from providing funding to nonprofit community associations. The Mining and Treasury Operations segment generates revenue from the Bitcoin the Company earns through its mining activities.
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Year ended December 31, 2025 |
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Specialty Finance |
|
Mining and Treasury Operations |
|
All Other |
|
Total |
|
Revenue, net |
$ |
561,310 |
|
$ |
8,283,423 |
|
$ |
- |
|
$ |
8,844,733 |
|
Digital mining cost of revenue |
|
- |
|
|
5,792,433 |
|
|
- |
|
|
5,792,433 |
|
Curtailment and energy sales |
|
- |
|
|
(658,048 |
) |
|
- |
|
|
(658,048 |
) |
Staff costs and payroll |
|
522,898 |
|
|
1,446,708 |
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|
4,241,198 |
|
|
6,210,804 |
|
Loss on fair value of mined bitcoin, net |
|
- |
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|
1,808,174 |
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|
- |
|
|
1,808,174 |
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Impairment loss on mining machines |
- |
|
|
5,391,857 |
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|
- |
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|
5,391,857 |
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Depreciation and amortization |
|
1,907 |
|
|
7,747,406 |
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|
422,257 |
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|
8,171,570 |
|
Loss on disposal of fixed assets |
|
- |
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|
501,800 |
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|
- |
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|
501,800 |
|
Other segment expenses (1) |
|
794,980 |
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|
1,874,007 |
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1,842,043 |
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|
4,511,030 |
|
Operating loss |
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(758,475 |
) |
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(15,620,914 |
) |
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(6,505,498 |
) |
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(22,884,887 |
) |
Loss on fair value of purchased Bitcoin, net |
|
- |
|
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(52,704 |
) |
|
- |
|
|
(52,704 |
) |
Loss on fair value of digital assets receivable |
|
- |
|
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(3,017,485 |
) |
|
- |
|
|
(3,017,485 |
) |
Credit loss on digital assets receivable |
|
- |
|
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(9,187 |
) |
|
- |
|
|
(9,187 |
) |
Unrealized loss on investment and equity securities |
|
- |
|
|
- |
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(179,972 |
) |
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(179,972 |
) |
Unrealized gain on Galaxy loan derivative |
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- |
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285,160 |
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|
- |
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|
285,160 |
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Unrealized gain on marketable securities |
|
- |
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- |
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|
10,330 |
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|
10,330 |
|
Impairment loss on prepaid mining machine deposits |
|
- |
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(4,885 |
) |
|
- |
|
|
(4,885 |
) |
Interest income |
|
- |
|
|
- |
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|
3,124 |
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|
3,124 |
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Interest expense |
|
- |
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(963,663 |
) |
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(161,022 |
) |
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(1,124,685 |
) |
Loss before income taxes |
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(758,475 |
) |
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(19,383,678 |
) |
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(6,833,038 |
) |
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(26,975,191 |
) |
Fixed asset additions |
|
1,170 |
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5,351,165 |
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|
3,667 |
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5,356,002 |
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Year ended December 31, 2024 |
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Specialty Finance |
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Mining and Treasury Operations |
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All Other |
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Total |
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Revenue, net |
$ |
567,043 |
|
$ |
10,432,605 |
|
$ |
- |
|
$ |
10,999,648 |
|
Digital mining cost of revenue |
|
- |
|
|
6,990,856 |
|
|
- |
|
|
6,990,856 |
|
Staff costs and payroll |
|
607,245 |
|
|
464,895 |
|
|
3,484,641 |
|
|
4,556,781 |
|
Gain on fair value of Bitcoin, net |
|
- |
|
|
(7,350,805 |
) |
|
- |
|
|
(7,350,805 |
) |
Depreciation and amortization |
|
3,881 |
|
|
7,730,208 |
|
|
40,072 |
|
|
7,774,161 |
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Impairment loss on mining machines |
|
- |
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|
1,379,375 |
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|
- |
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|
1,379,375 |
|
Loss on disposal of fixed assets |
|
- |
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|
136,100 |
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|
- |
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|
136,100 |
|
Other segment expenses (1) |
|
922,081 |
|
|
494,995 |
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2,557,655 |
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3,974,731 |
|
Operating income (loss) |
|
(966,164 |
) |
|
586,981 |
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(6,082,368 |
) |
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(6,461,551 |
) |
Gain (loss) on fair value of purchased Bitcoin, net |
|
- |
|
|
(18,729 |
) |
|
57,926 |
|
|
39,197 |
|
Unrealized loss on investment and equity securities |
|
- |
|
|
- |
|
|
(1,097,433 |
) |
|
(1,097,433 |
) |
Unrealized gain on marketable securities |
|
- |
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|
- |
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|
9,190 |
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|
9,190 |
|
Impairment loss on prepaid mining machine deposits |
|
- |
|
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(12,941 |
) |
|
- |
|
|
(12,941 |
) |
Other income - coupon sales |
|
- |
|
|
4,490 |
|
|
- |
|
|
4,490 |
|
Interest income |
|
26 |
|
|
- |
|
|
307,290 |
|
|
307,316 |
|
Interest expense |
|
- |
|
|
(72,511 |
) |
|
(371,189 |
) |
|
(443,700 |
) |
Income (loss) before income taxes |
|
(966,138 |
) |
|
487,290 |
|
|
(7,176,584 |
) |
|
(7,655,432 |
) |
Fixed asset additions |
|
- |
|
|
3,202,191 |
|
|
5,265 |
|
|
3,207,456 |
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(1) Other segment items for each reportable segment include rent, collection costs, office and general business expenses, travel, insurance, office and general business expenses
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