Stock-Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Stock-Based Compensation [Abstract] |
|
| Schedule of Stock-Based Compensation Expense |
The stock-based compensation expense related to Stock Options
(“Options”), Restricted Share Units (“RSUs”), and Performance Share Units (“PSUs”) for employees, directors,
consultants and former employees and share awards for a former executive of Stronghold were as follows:
| | |
Three months ended March 31, | |
| | |
2026 | | |
2025 | |
| Options | |
1,614 | | |
2,063 | |
| RSUs | |
591 | | |
1,905 | |
| PSUs | |
501 | | |
— | |
| Share awards | |
— | | |
158 | |
| | |
2,706 | | |
4,126 | |
|
| Schedule of Outstanding Options |
Details of the outstanding Options are as follows:
| | |
Three months ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
Number of
Options | | |
Weighted
Average
Exercise Price
($CAD) | | |
Number of
Options | | |
Weighted
Average
Exercise Price
($CAD) | |
| Outstanding, January 1, | |
| 16,696,665 | | |
| 2.67 | | |
| 26,865,764 | | |
| 2.64 | |
| Granted | |
| 1,440,000 | | |
| 3.71 | | |
| 540,302 | | |
| 2.27 | |
| Exercised | |
| (338,863 | ) | |
| 1.83 | | |
| — | | |
| — | |
| Forfeited | |
| (28,125 | ) | |
| 2.00 | | |
| (57,500 | ) | |
| 3.10 | |
| Expired | |
| (86,200 | ) | |
| 3.17 | | |
| (12,500 | ) | |
| 3.03 | |
| Outstanding, March 31, | |
| 17,683,477 | | |
| 2.77 | | |
| 27,336,066 | | |
| 2.63 | |
| Exercisable, March 31, | |
| 6,624,689 | | |
| 1.92 | | |
| 2,113,900 | | |
| 0.54 | |
|
| Schedule of Options Grants Using the Black-Scholes Model |
The weighted-average
inputs used to value the Options grants using the Black-Scholes model are as follows:
| | | Three months ended March 31, | | | | | 2026 | | | 2025 | | | Dividend yield (%) | | — | | | — | | | Expected share price volatility (%)* | | 75 | % | | 80 | % | | Risk-free interest rate (%) | | 3.66 | % | | 4.46 | % | | Expected life of Options (years) | | 3.0 years | | | 3.0 years | |
| * | Expected share price volatility is estimated based on a combination
of the Company’s stock price and Bitcoin price data. |
|
| Schedule of RSU |
Details of the RSUs are as follows:
| | |
Three months ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
Number of
RSUs | | |
Weighted
Average
Grant Price
($CAD) | | |
Number of
RSUs | | |
Weighted
Average
Grant Price
($CAD) | |
| Outstanding, January 1, | |
4,847,575 | | |
1.56 | | |
897,666 | | |
3.61 | |
| Granted | |
— | | |
— | | |
1,890,000 | | |
1.59 | |
| Settled | |
(932,275 | ) | |
1.11 | | |
— | | |
— | |
| Forfeited | |
(27,688 | ) | |
1.11 | | |
— | | |
— | |
| Outstanding, March 31, | |
3,887,612 | | |
1.67 | | |
2,787,666 | | |
2.24 | |
|
| Schedule of PSU |
Details of the PSUs are as follows:
| | |
Three months ended March 31, | |
| | |
2026 | |
| | |
Number of
PSUs | | |
Weighted
Average
Grant Price
($CAD) | |
| Outstanding, January 1, | |
3,508,275 | | |
1.41 | |
| Outstanding, March 31, | |
3,508,275 | | |
1.41 | |
|