v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (86,239,232) $ 1,928,834
Add: Loss from discontinued operations 698,769
Income (loss) from continuing operations (86,239,232) 2,627,603
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 22,334 55,103
Stock-based compensation 2,230,208 44,383
Accretion of debt discount 708,390
Fair market value adjustment for warrants (16,708) (4,618,889)
Digital commodities received as staking revenues, net (3,134,109)
Realized loss on digital commodities 10,789,841
Unrealized loss on digital commodities 70,846,202
Foreign exchange impact (41,295)
Changes in operating assets:    
Accounts receivable - trade & digital (192,780) 68,573
Amortization of related party prepaid 2,500,000
Prepaid expenses and other (240,922) 294,217
Inventory 187,559 196,654
Other assets (72,949) (383,253)
Accounts payable and accrued liabilities 643,434 (369,177)
Net cash used in operating activities (2,677,122) (1,417,691)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sale of digital commodities 9,288,716
Net cash provided by investing activities 9,288,716
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from offerings and warrant exercises 18,175,043
Share repurchase program (1,588,861)
Repayment of debt financing (4,222,012)
Repayment of margin loan (3,084,931)
Net cash provided by (used in) financing activities (4,673,792) 13,953,031
Effect of exchange rate changes on cash (187,915)
NET INCREASE IN CASH - CONTINUING OPERATIONS 1,937,802 12,347,425
CASH FLOWS FROM DISCONTINUED OPERATIONS    
Net cash used in operating activities - discontinued operations (1,226,124)
Net cash used in investing activities - discontinued operations (90,405)
NET DECREASE IN CASH - DISCONTINUED OPERATIONS (1,316,529)
CASH — BEGINNING OF PERIOD 10,382,745 864,042
CASH — END OF PERIOD 12,320,547 11,894,938
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for taxes
Cash paid for interest 19,229
Par value waived on warrant exercise 1,129
OID interest $ 875,000