v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (9,061) $ (1,989) $ (2,824)
Adjustments to reconcile net loss to net cash generated from operating activities:      
Depreciation 4,141 3,671 3,151
Realized loss/(gain) on exchange of digital assets 418 (713) (34)
Equity income on equity method investments (91) (75) (12)
Share-based compensation expenses 1,827 571 138
Loss on write-off of property and equipment 35 45
Loss on disposal of property and equipment 357
Amortization of operating lease right-of-use asset 41 10
Increase/(decrease) in accounts receivable (746) 8 3,417
Increase in right-of-use asset (394)
(Increase)/decrease in prepayments and other current assets (780) 8 3,003
Change of Digital assets (909) 64 (311)
Increase/(decrease) in accounts payable (115) (13) (3,327)
(Increase)/decrease in deferred revenue (124) (126) 250
Increase/(decrease) in accrued expenses and other payables 140 121
Increase in operating lease liability 49
Increase/(decrease) of lease liability-non-current (34) 320
Net cash flow generated from/(used in) operating activities (5,258) 1,557 3,808
Cash flows from investing activities:      
Purchases of property and equipment (8,519) (2,744) (2,501)
Payment for investment in associate (200)
Repayment of advances from related parties (475)
Purchases of digital assets (5,997)
Proceeds from disposal of property and equipment 564
Advances to related parties 37 (4,697) (2,683)
Advance to third party (300)    
Repayment of advances to related parties 441
Net cash used in investing activities (15,454) (7,000) (4,620)
Cash flows from financing activities:      
Proceeds from short term loans 7,823 810 182
Repayment of short term loans (6,141) (451) (927)
Proceeds from issuance of ordinary shares, net of issuance costs 4,480 19,941 1,552
Net cash generated from financing activities 6,162 20,300 807
Net increase/(decrease) in cash and cash equivalents (14,550) 14,857 (5)
Cash and cash equivalents at the beginning of the year 14,900 43 48
Cash and cash equivalents at the end of the year 350 14,900 43
Supplemental disclosure of cash flow information:      
Interest paid 62 21 63
Supplemental disclosure of non-cash flow information:      
Lease liability arising from obtaining right-of-use asset 394
Non-cash issuance of common shares for the purchase of equity in a joint venture 1,051
Non-cash issuance of common shares for the payment of mining facility acquisition 360
Issuance of ordinary shares for previously received cash proceeds $ 542