| Segmented reporting |
The Corporation has four operating segments being
cryptocurrency mining, sales of energy and electricity, colocation services, and Tier III AI data centers located in the United States.
During the year ended December 31, 2025, the Corporation
added a new operating segment related to Tier III AI data center operations. The AI data center segment is in the development phase and
has not yet commenced commercial operations as of December 31, 2025. As a result, this segment did not generate revenue during the year
ended December 31, 2025.
The Corporation’s CODM evaluates segment
performance and allocates resources based on segment revenue, net loss, and total assets. Accordingly, the Tier III AI data center segment
has been included as a reportable segment for the year ended December 31, 2025.
| Year Ended December 31, 2025 | |
Cryptocurrency
mining | | |
Sales of
energy and
electricity | | |
Colocation
services | | |
Tier III
AI project | | |
Total | |
| Revenue | |
$ | 3,523,378 | | |
$ | 13,195,949 | | |
$ | 17,468,899 | | |
$ | - | | |
$ | 34,188,226 | |
| Cost of revenue | |
| (2,026,237 | ) | |
| (18,378,656 | ) | |
| (10,046,069 | ) | |
| - | | |
| (30,450,962 | ) |
| Depreciation and amortization | |
| (6,506,773 | ) | |
| (447,054 | ) | |
| - | | |
| - | | |
| (6,953,827 | ) |
| Net loss | |
| (7,549,460 | ) | |
| (14,196,255 | ) | |
| (6,610,508 | ) | |
| - | | |
| (28,356,223 | ) |
| EBITDA | |
| (1,328,562 | ) | |
| (13,749,201 | ) | |
| (6,610,508 | ) | |
| - | | |
| (21,688,271 | ) |
| Total assets | |
| 50,707,889 | | |
| 10,387,735 | | |
| 61,994,641 | | |
| 11,023,314 | | |
| 134,113,579 | |
| | |
| | |
Sales of | | |
| | |
| | |
| |
| | |
Cryptocurrency | | |
energy and | | |
Colocation | | |
Tier III | | |
| |
| Year Ended December 31, 2024 | |
mining | | |
electricity | | |
services | | |
AI project | | |
Total | |
| Revenue | |
$ | 10,318,500 | | |
$ | 10,893,584 | | |
$ | 15,790,179 | | |
$ | - | | |
$ | 37,002,263 | |
| Cost of revenue | |
| (7,192,288 | ) | |
| (14,513,076 | ) | |
| (11,006,203 | ) | |
| - | | |
| (32,711,567 | ) |
| Depreciation and amortization | |
| (15,268,695 | ) | |
| (368,921 | ) | |
| - | | |
| - | | |
| (15,637,616 | ) |
| Net loss | |
| (13,186,861 | ) | |
| (3,988,413 | ) | |
| 4,783,976 | | |
| - | | |
| (12,391,298 | ) |
| EBITDA | |
| 2,081,834 | | |
| (3,619,492 | ) | |
| 4,783,976 | | |
| - | | |
| 3,246,318 | |
| Total assets | |
| 28,168,234 | | |
| 6,149,854 | | |
| - | | |
| - | | |
| 34,318,088 | |
|