| OTHER CURRENT ASSETS, NET |
7.
OTHER CURRENT ASSETS, NET
Other
current assets were comprised of the following:
| | |
March
31,
2026 | | |
December 31,
2025 | |
| Deposits
(a) | |
$ | 3,779,816 | | |
$ | 4,098,610 | |
| Prepaid
director and officer insurance expenses | |
| 2,225 | | |
| 205,200 | |
| Prepaid
consulting service expenses | |
| 747,375 | | |
| 1,570,653 | |
| Deposit
for lease | |
| 89,476 | | |
| 38,841 | |
| Deferred
contract costs | |
| 1,813,390 | | |
| 2,190,966 | |
| Prepayment
to third parties (b) | |
| 9,311,640 | | |
| 8,824,538 | |
| Receivable
from third parties | |
| 4,439,143 | | |
| 5,408,521 | |
| Funds
held in escrow | |
| 4,000,000 | | |
| 4,000,000 | |
| Others | |
| 501,203 | | |
| 408,044 | |
| Less:
Current expected credit losses | |
| (13,789 | ) | |
| (10,389 | ) |
| Total | |
$ | 24,670,479 | | |
$ | 26,734,984 | |
| (a) | As of March 31, 2026 and December 31, 2025, the balance of deposits represented the deposits made to our service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement. |
| (b) | The balance of prepayment to third parties primarily consists of the prepayment to our GPU servers leasing partner. |
|