v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
REVENUE $ 2,511 $ 273
OPERATING EXPENSES    
Cost of revenue, excluding depreciation 1,198 221
Bitcoin operating costs 42
Selling, general and administrative 2,266 1,345
Repairs and maintenance 80 86
Share-based compensation 253 127
Depreciation and amortization 253 260
Loss on disposal of operating assets 259
Impairment of liquid staking tokens 1,127
Realized loss on digital asset transactions 5,297
Unrealized loss on market valuation of digital assets 36,302 36
Total operating expenses 47,077 2,075
Operating loss (44,566) (1,802)
OTHER (EXPENSE) INCOME    
Accretion of interest on debentures (1,818) (971)
Change in fair value of derivative liabilities 2,977
Foreign exchange loss (57)
Gain on conversion of convertible debt 87
Loss on debt extinguishment (115)
Other expense (7) (7)
Total other (expenses) income, net (1,825) 1,914
Net (loss) income from continuing operations (46,391) 112
Loss from operations of discontinued operations (257)
Net loss from discontinued operations (257)
Net loss (46,391) (145)
Other comprehensive loss    
Foreign currency translation 37
Comprehensive loss attributable to common shareholders $ (46,391) $ (108)
Earnings per share:    
Basic net loss per common share for continuing operations $ (0.48) $ 0.61
Basic net loss per common share for discontinued operations (1.39)
Basic net loss per common share, total (0.48) (0.78)
Diluted net loss per common share for continuing operations (0.48) (10.17)
Diluted net loss per common share for discontinued operations (0.40)
Diluted net loss per common share, total $ (0.48) $ (10.57)
Weighted average number of common shares outstanding – basic and diluted*    
Basic [1] 97,525 185
Diluted [1] 97,525 643
[1] reflects the 1:9 reverse stock split effected on July 28, 2025.