| Components of Fixed Assets |
The components of fixed assets as of March 31, 2026 and December 31, 2025 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Mining machines |
|
9 months - 4 years |
|
$ |
|
22,518,772 |
|
|
$ |
|
22,388,471 |
|
Mining site equipment |
|
6-10 years |
|
|
|
4,984,547 |
|
|
|
|
4,827,888 |
|
Building |
|
30 years |
|
|
|
467,707 |
|
|
|
|
569,480 |
|
Real estate assets owned |
|
30 years |
|
|
|
80,056 |
|
|
|
|
80,056 |
|
Furniture, computer and office equipment |
|
3-5 years |
|
|
|
463,048 |
|
|
|
|
440,313 |
|
Land |
|
|
|
|
|
525,000 |
|
|
|
|
525,000 |
|
Gross fixed assets |
|
|
|
|
|
29,039,130 |
|
|
|
|
28,831,208 |
|
Less: accumulated depreciation |
|
|
|
|
|
(19,676,353 |
) |
|
|
|
(18,913,858 |
) |
Fixed assets, net |
|
|
|
$ |
|
9,362,777 |
|
|
$ |
|
9,917,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Intangible Assets |
Intangible assets as of March 31, 2026 and December 31, 2025 consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life (Years) |
March 31, 2026 |
|
|
December 31, 2025 |
|
Power and interconnection rights |
|
25 |
$ |
|
6,578,600 |
|
|
$ |
|
6,578,600 |
|
Gross intangible assets |
|
|
|
|
6,578,600 |
|
|
|
|
6,578,600 |
|
Less: accumulated amortization |
|
|
|
|
(316,620 |
) |
|
|
|
(250,831 |
) |
Total intangible assets, net |
|
|
$ |
|
6,261,980 |
|
|
$ |
|
6,327,769 |
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Expected Amortization Expense of Intangible Assets |
The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows:
|
|
|
|
|
Fiscal year ended December 31, |
|
Estimated Amortization Expense |
|
2026 (9 months remaining) |
$ |
|
197,355 |
|
2027 |
|
|
263,144 |
|
2028 |
|
|
263,144 |
|
2029 |
|
|
263,144 |
|
2030 |
|
|
263,144 |
|
Thereafter |
|
|
5,012,049 |
|
Total |
$ |
|
6,261,980 |
|
|