v3.26.1
Leases
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Leases    
Leases

Note 14. Leases

 

The Company leases GPU and associated computer and networking equipment under non-cancelable finance lease agreements. Lease terms generally range from 3 to 5 years and may include options to extend or terminate the lease. Lease agreements may contain both lease and non-lease components, which the Company accounts for as a single lease component for all asset classes under a practical expedient election. The Company also elected the short-term lease exemption for all leases with original terms of 12 months or less, whereby such leases are not recognized on the consolidated balance sheet.

 

Lease cost

 

The components of lease cost were as follows:

 

       
   For the Three Months Ended 
   March 31, 
   2026   2025 
Description          
Finance lease – interest  $102,788   $19,755 
Finance lease – amortization   269,462    134,973 
Total Lease Cost  $372,250   $154,728 

 

Maturity analysis of lease liabilities

 

Future minimum lease payments at March 31, 2026 and December 31, 2025 are as follows:

 

   March 31,   December 31, 
   2026   2025 
Description          
2026   1,019,783    1,324,782 
2027   1,359,710    1,324,782 
2028   1,359,710    1,324,782 
2029   1,232,808    1,201,139 
2030   389,086    379,091 
Total   5,361,097    5,554,576 
Less: Imputed interest   458,333    563,675 
Present value of lease liabilities  $4,902,764   $4,990,901 

 

 

Other information

 

   March 31,   December 31, 
   2026   2025 
Weighted-average remaining lease term (years)   3.6    3.9 
Weighted-average discount rate:   5.72%   5.72%
ROU assets obtained in exchange for ROU Liability  $-   $- 
Operating cash impact of finance leases  $(282,459)  $(288,927)

 

Note 15. Leases

 

The Company leases GPU and associated computer and networking equipment under non-cancelable finance lease agreements. Lease terms generally range from 3 to 5 years and may include options to extend or terminate the lease. Lease agreements may contain both lease and non-lease components, which the Company accounts for as a single lease component for all asset classes under a practical expedient election. The Company also elected the short-term lease exemption for all leases with original terms of 12 months or less, whereby such leases are not recognized on the consolidated balance sheet.

 

Lease cost

 

The components of lease cost were as follows:

 

   2025   2024 
   For the Years Ended 
   December 31, 
   2025   2024 
Description        
Finance lease - interest  $319,944   $25,275 
Finance lease - amortization   3,211,697    89,748 
Total Lease Cost  $3,531,641   $115,023 

 

Maturity analysis of lease liabilities

 

Future minimum lease payments as of December 31, 2025 are as follows:

 

   December 31,   December 31, 
   2025   2024 
Description          
2025  $-   $230,044 
2026   1,324,782    230,044 
2027   1,324,782    230,044 
2028   1,324,782    230,044 
2029   1,201,139    115,022 
2030   379,091    - 
Total   5,554,576    1,035,198 
Less: Imputed interest   563,675    88,492 
Present value of lease liabilities  $4,990,901   $946,706 

 

 

Other information

 

   December 31,   December 31, 
   2025   2024 
Weighted-average remaining lease term (years)   3.9    4.5 
Weighted-average discount rate:   5.72%   5.19%
ROU assets obtained in exchange for ROU Liability  $8,236,478   $1,057,779 
Operating cash impact of finance leases  $3,463,635   $26,847