| Schedule of Assets Held for Sale |
The
following table provides the components of the assets or disposal groups that either met the criteria of “assets held for sale”
as of March 31, 2026 or December 31, 2025.
| | |
As of
March 31, | | |
As of
December 31, | |
| | |
2026 | | |
2025 | |
| Miners | |
| 70 | | |
| 166 | |
| Mining electrical components | |
| 1,134 | | |
| 3,198 | |
| Assets of disposal group classified as held for sale: | |
| | | |
| | |
| Other assets | |
| 1,431 | | |
| 1,404 | |
| Inventories - electronic and networking components | |
| 426 | | |
| 426 | |
| Property, plant and equipment | |
| 4,503 | | |
| 17,168 | |
| Long-term deposits and equipment prepayments | |
| 1,333 | | |
| 1,145 | |
| Refundable deposits - security deposits for energy | |
| 5,157 | | |
| 5,157 | |
| | |
| 14,054 | | |
| 28,664 | |
|
| Schedule of Argentina’s and Paraguay’s Operations |
The
combined results of the Company’s Argentina and Paraguay operations for the three months ended March 31, 2026 and 2025 are presented
below:
| | |
Three months ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
| Argentina | | |
| Paraguay | | |
| Total | | |
| Argentina | | |
| Paraguay | | |
| Total | |
| Revenues* | |
| — | | |
| 6,082 | | |
| 6,082 | | |
| 6,955 | | |
| 12,014 | | |
| 18,969 | |
| Cost of revenues | |
| — | | |
| (5,862 | ) | |
| (5,862 | ) | |
| (8,053 | ) | |
| (11,654 | ) | |
| (19,707 | ) |
| Gross profit (loss) | |
| — | | |
| 220 | | |
| 220 | | |
| (1,098 | ) | |
| 360 | | |
| (738 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| General and administrative expenses | |
| (3,848 | ) | |
| (959 | ) | |
| (4,807 | ) | |
| (1,563 | ) | |
| (879 | ) | |
| (2,442 | ) |
| Gain (loss) on disposition of property, plant and equipment and deposits | |
| 324 | | |
| (5 | ) | |
| 319 | | |
| (196 | ) | |
| — | | |
| (196 | ) |
| Impairment of long-lived assets | |
| (811 | ) | |
| (12,806 | ) | |
| (13,617 | ) | |
| (18,824 | ) | |
| — | | |
| (18,824 | ) |
| Operating (loss) | |
| (4,335 | ) | |
| (13,550 | ) | |
| (17,885 | ) | |
| (21,681 | ) | |
| (519 | ) | |
| (22,200 | ) |
| Interest income | |
| — | | |
| — | | |
| — | | |
| — | | |
| 74 | | |
| 74 | |
| Interest expense | |
| — | | |
| — | | |
| — | | |
| — | | |
| (33 | ) | |
| (33 | ) |
| Other (expense) income | |
| 79 | | |
| 27 | | |
| 106 | | |
| 364 | | |
| (70 | ) | |
| 294 | |
| Total other (expense) income | |
| 79 | | |
| 27 | | |
| 106 | | |
| 364 | | |
| (29 | ) | |
| 335 | |
| Loss before income taxes | |
| (4,256 | ) | |
| (13,523 | ) | |
| (17,779 | ) | |
| (21,317 | ) | |
| (548 | ) | |
| (21,865 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income tax (expense) recovery | |
| — | | |
| — | | |
| — | | |
| (458 | ) | |
| (82 | ) | |
| (540 | ) |
| Loss after income tax | |
| (4,256 | ) | |
| (13,523 | ) | |
| (17,779 | ) | |
| (21,775 | ) | |
| (630 | ) | |
| (22,405 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Gain on disposition of Yguazu Bitcoin data center | |
| — | | |
| — | | |
| — | | |
| — | | |
| 5,225 | | |
| 5,225 | |
| Loss from discontinued operations | |
| (4,256 | ) | |
| (13,523 | ) | |
| (17,779 | ) | |
| (21,775 | ) | |
| 4,595 | | |
| (17,180 | ) |
| * | Revenues
are presented based on the geographical contribution of computational power used for hashing calculations (measured by hashrate) or sales
to external customers. |
|
| Schedule of Net cash Flows incurred by Argentina’s and Paraguay’s Operations |
The
net cash flows incurred by Argentina’s and Paraguay’s operations are, as follows:
| | |
Three months ended March 31, | |
| | |
2026 | | |
2025 | |
| Net change in cash related to operating activities | |
| (1,060 | ) | |
| 1,189 | |
| Net change in cash related to investing activities | |
| 1,696 | | |
| (2,881 | ) |
| Net change in cash related to financing activities | |
| (15 | ) | |
| (172 | ) |
| Net change in cash generated by the discontinued operations | |
| 621 | | |
| (1,864 | ) |
|
| Schedule of Subsidiary’s Assets and Liabilities Transaction |
The transaction details are as follows:
| | |
As of March 17 | |
| | |
2025 | |
| | |
| |
| Consideration | |
| |
| Advance received in January 2025 upon signing the LOI | |
| 20,000 | |
| Cash received upon closing | |
| 12,038 | |
| Receivable over 6 equal monthly payments following the closing date* | |
| 31,000 | |
| Other costs assumed by HIVE | |
| 222 | |
| Total consideration received | |
| 63,260 | |
| Net assets transferred | |
| | |
| Current assets | |
| 2,590 | |
| Property, plant and equipment | |
| 34,006 | |
| Intangible asset | |
| 309 | |
| Long-term deposits and equipment prepayments | |
| 18,321 | |
| Security deposit for energy | |
| 2,809 | |
| Total net assets transferred | |
| 58,035 | |
| Gain on disposal of subsidiary | |
| 5,225 | |
| * | The
$31,000 interest-free receivable was fully collected by the end of the third quarter of 2025. |
|