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Revenue
 6 Months Ended
Jun. 30, 2026
Revenue [Abstract]  
REVENUE
5. REVENUE

 

Deferred Revenue (Contract Liabilities)

 

Deferred revenue represents consideration received in advance of satisfying performance obligations. The Company recognizes such amounts as revenue when the related obligations are satisfied.

 

The following table summarizes the deferred revenue activity during the six months ended June 30, 2026 and year ended December 31, 2025:

 

    Six Months
Ended
June 30,
2026		     Year Ended
December 31,
2025		  
Balance at the beginning of the year   $ 2,330,584     $ 1,666,580  
Add: revenue deferred during the year     -       2,330,584  
Less: Revenue recognized during the year     (2,330,584 )     (1,666,580 )
Balance at the end of the year   $ -     $ 2,330,584  
                 
Current   $ -     $ 2,330,584  
Non-current   $ -     $ -  

 

As of June 30, 2026 and December 31, 2025, the Company expects to realize substantially all the deferred revenue within 12 months and accordingly, these amounts are classified as current liabilities. There were no significant changes to contract terms, refund policies, or performance obligations during the periods presented. The Company did not have contract assets as of June 30, 2026 and December 31, 2025.

 

On June 5, 2026, the Company de-energized substantially all of its bitcoin mining hosting operations following a decline in the price of bitcoin that rendered the Company’s hosting activities uneconomic at prevailing market conditions. The de-energization coincided with the Company’s strategic transition toward AI and HPC infrastructure development. As a result, management expects revenue from bitcoin mining hosting operations to decline significantly beginning in the third quarter of 2026 and remain significantly reduced until future AI/HPC capacity is placed into service and related customer contracts commence operations.