SEGMENT REPORTING |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Segment Reporting [Abstract] | |
| SEGMENT REPORTING | NOTE 18 – SEGMENT REPORTING
Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the “CODM”) in assessing performance and deciding how to allocate resources. The Company has identified its Chief Executive Officer as the CODM.
The Company operates as a single operating segment and a single reportable segment: Computing Infrastructure. Through this segment, the Company generates Dogecoin and Litecoin through merged mining using Scrypt-algorithm ASIC hardware across six facilities in North Carolina, South Carolina, and Iowa. Following the Merger, the Company continues to conduct residual biopharmaceutical operations through its majority-owned subsidiary, GEAR Therapeutics, Inc., which the Company does not intend to advance further, and has commenced expansion into artificial intelligence and high-density compute infrastructure, data center development, and power generation, which remained in a development stage during the period. Discrete financial information regarding these activities is not regularly reviewed by the CODM in assessing performance or allocating resources, and accordingly they do not constitute separate operating segments under ASC 280-10-50-1.
The CODM reviews financial information presented on a consolidated basis for purposes of assessing performance and allocating resources. The measure of segment profit or loss regularly reviewed by the CODM is consolidated net loss, as presented in the accompanying condensed consolidated statements of operations. The significant expense categories regularly provided to the CODM are the expense line items presented on the face of the condensed consolidated statements of operations, and no additional categories of segment expense are regularly provided to or reviewed by the CODM. Accordingly, there are no other segment items to report. Segment assets are equal to the Company’s consolidated total assets and were $134,509,962 and $1,402 as of June 30, 2026 and December 31, 2025.
The Company operated as a single operating segment and a reportable segment for each of the three and six months ended June 30, 2026 and 2025. |