v3.26.1
Share Capital (Tables)
12 Months Ended
Dec. 31, 2025
Share Capital [Abstract]  
Schedule of Movement in Number of Common Shares

The following table details the movement in number of common shares:

 

   Year ended December 31, 
   2025   2024   2023 
Outstanding, January 1,   479,332,885    334,153,330    224,200,170 
Issuance through at-the market equity offering program   29,616,939    135,474,160    52,120,899 
Issuance through business combination   59,866,609    
    
 
Share buyback and cancellation   (7,807,141)   
    
 
Exercise of Options   12,591,449    2,644,873    3,047,346 
Settlement of share awards   1,543,320    
    
 
Issuance of common shares related to right-of-use asset   
    1,532,745    
 
Exercise of warrants   15,191,855    5,111,111    9,269,630 
Settlement of restricted share units   2,744,083    416,666    250,002 
2023 private placement   
    
    44,444,446 
Issuance through acquisition of assets   8,500,000    
    820,837 
Outstanding, December 31,   601,579,999    479,332,885    334,153,330 
Schedule of Outstanding Number of Warrants

Details of the outstanding number of warrants are as follows:

 

   Year ended December 31, 
   2025   2024   2023 
   Number of
Warrants
   Weighted
Average
Exercise
Price (USD)
   Number of
Warrants
   Weighted
Average
Exercise
Price (USD)
   Number of
Warrants
   Weighted
Average
Exercise
Price (USD)
 
Outstanding, January 1,   10,841,482    1.17    35,105,390    2.83    19,152,797    4.21 
Granted   20,421,723    1.74    
    
    25,222,223    1.18 
Exercised   (17,355,910)   1.20    (5,111,111)   1.17    (9,269,630)   1.18 
Expired   
    
    (19,152,797)   4.21    
    
 
Outstanding, December 31,   13,907,295    1.97    10,841,482    1.17    35,105,390    2.83 
Schedule of Fair Values of the Warrants Granted

The Black-Scholes option-pricing model utilized the following weighted-average inputs to determine the fair values of the warrants granted during the year ended December 31, 2025:

 

     
Dividend yield (%)   
%
Expected share price volatility (%)*   98%
Risk-free interest rate (%)   4.03%
Expected life of warrants (years)   5.60 
Share price (CAD)  $1.88 
Exercise price (USD)  $1.74 
Fair value of warrants (USD)  $1.05 
Number of warrants issued   20,421,723 

 

*Expected share price volatility is estimated based on a combination of the Company’s stock price and Bitcoin price data.