v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (58,434,779) $ (3,718,245)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization – continuing operations 5,061 1,187,373
Impairment 5,211,824
Amortization of debt issuance costs 500,000
Amortization of prepaid share-based compensation 34,000
Share-based compensation 5,498,007 143,201
Change in fair value of digital assets 37,177,137
Allowance for credit losses 1,836,366
Gain on sale of assets (1,231,774)
Gain on disposal of short-term investments (231,501)
Changes in assets and liabilities:    
Accounts receivable (1,503,807) 504,904
Inventory 1,920,098 2,094,868
Prepaid expenses and other current assets 1,115,775 216,853
Accounts payable (1,080,351) 164,011
Accrued expenses and other current liabilities (1,211,595) 574,478
Discontinued operations (129,055)
Net cash (used in) provided by operating activities (9,697,765) 340,614
Cash flows from investing activities:    
Purchases of property and equipment – continuing operations (2,208)
Purchases of digital assets (89,286,578)
Purchases of short-term investments (363,627,127)
Purchase of other investments (110,599,952)
Proceeds from sale of short-term investments 312,930,999
Repayment of principal under loans held-for-investment 76,258 136,622
Proceeds from sale of assets of Ferguson Containers, Inc. 307,835
Purchases of property and equipment – discontinued operations (44,490)
Net cash (used in) provided by investing activities (250,506,400) 397,759
Cash flows from financing activities:    
Net proceeds from issuance of common stock 215,971,540
Prepayment for share repurchase option (1,000,000)
Net (repayments) borrowings under line of credit (2,265,000) 5,000
Repayments under convertible notes payable – related parties (286,308)
Net cash provided by (used in) financing activities 212,706,540 (281,308)
Net (decrease) increase in cash and cash equivalents (47,497,625) 457,065
Cash and cash equivalents, beginning of the period 58,501,108 239,187
Cash and cash equivalents, end of the period 11,003,483 696,252
Supplemental disclosure of cash flow information:    
Cash paid for interest 551,287 795,182
Cash paid for income taxes