| Segmented reporting |
The
Corporation has four operating segments being cryptocurrency mining, sales of energy and electricity, colocation services, and Tier III
AI data centers located in the United States.
During
the year ended December 31, 2025, the Corporation added a new operating segment related to Tier III AI data center operations. The AI
data center segment is in the development phase and has not yet commenced commercial operations as of March 31, 2026. As a result, this
segment did not generate revenue during the three months ended March 31, 2026.
The
Corporation’s CODM evaluates segment performance and allocates resources based on segment revenue, net loss, and total assets.
Accordingly, the Tier III AI data center segment has been included as a reportable segment.
Three Months Ended March 31, 2026 | |
Cryptocurrency
mining | | |
Sales of
energy and
electricity | | |
Colocation
Services | | |
Tier III
AI Project | | |
Total | |
| Revenue | |
$ | 47,727 | | |
$ | 3,716,711 | | |
$ | 3,026,908 | | |
$ | - | | |
$ | 6,791,346 | |
| Cost of revenue | |
| (11,640 | ) | |
| (5,393,005 | ) | |
| (738,233 | ) | |
| - | | |
| (6,142,878 | ) |
| Depreciation and amortization | |
| (1,323,240 | ) | |
| (126,864 | ) | |
| - | | |
| - | | |
| (1,450,104 | ) |
| Net loss | |
| (1,389,237 | ) | |
| (1,803,158 | ) | |
| (1,459,950 | ) | |
| - | | |
| (4,652,345 | ) |
| EBITDA | |
| 65,997 | | |
| (1,676,294 | ) | |
| (1,459,950 | ) | |
| - | | |
| (3,202,241 | ) |
Three Months Ended March 31, 2025 | |
Cryptocurrency
mining | | |
Sales of
energy and
electricity | | |
Colocation
Services | | |
Tier III
AI Project | | |
Total | |
| Revenue | |
$ | 765,876 | | |
$ | 3,427,916 | | |
$ | 5,082,795 | | |
$ | - | | |
$ | 9,276,587 | |
| Cost of revenue | |
| (722,105 | ) | |
| (3,707,148 | ) | |
| (4,193,057 | ) | |
| - | | |
| (8,622,310 | ) |
| Depreciation and amortization | |
| (2,064,886 | ) | |
| (107,905 | ) | |
| - | | |
| - | | |
| (2,172,791 | ) |
| Net loss | |
| (2,135,862 | ) | |
| (387,137 | ) | |
| 889,738 | | |
| - | | |
| (1,633,261 | ) |
| EBITDA | |
| (70,976 | ) | |
| (279,232 | ) | |
| 889,738 | | |
| - | | |
| 539,530 | |
| As at March 31, 2026 | |
Cryptocurrency
mining | | |
Sales of
energy and
electricity | | |
Colocation
Services | | |
Tier III
AI Project | | |
Total | |
| Total assets | |
$ | 93,221,049 | | |
$ | 8,142,026 | | |
$ | - | | |
$ | 25,571,511 | | |
$ | 126,934,586 | |
| As at December 31, 2025 | |
Cryptocurrency
mining | | |
Sales of
energy and
electricity | | |
Colocation
Services | | |
Tier III
AI Project | | |
Total | |
| Total assets | |
$ | 50,707,889 | | |
$ | 10,387,735 | | |
$ | 61,994,641 | | |
$ | 11,023,314 | | |
$ | 134,113,579 | |
|