Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Segment Revenue and Segment Gross Profit Reviewed by the CODM

The following tables present segment revenue and segment gross profit reviewed by the CODM:

Three Months Ended June 30, 2026

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	2,371			$	23,806			$	4,726			$	903			$	31,806
Intersegment revenue			-				-				26				-				26
Segment revenue			2,371				23,806				4,752				903				31,832

Reconciliation of revenue
Other revenue (a)											307								307
Elimination of intersegment revenue																			(26	)
Total consolidated revenue																			32,113

Less:
Electricity costs			1,140				739				758				-				2,637
Profit sharing fees			422				-				-				-				422
Datacenter lease expense			-				1,578				70				-				1,648
GPU lease expense			-				5,601				-				-				5,601
Wage expense			-				-				253				-				253
Service costs - ETH staking			-				-				-				42				42
Third-party customer support fees			-				1,250				-				-				1,250
Other segment items (b)			199				795				665				-				1,659
Intersegment cost of revenue			-				26				-				-				26
Segment cost of revenue			1,761				9,989				1,746				42				13,538

Reconciliation of cost of revenue
Elimination of intersegment cost of revenue																			(26	)
Total consolidated cost of revenue																			13,512

Segment gross profit		$	610			$	13,817			$	3,006			$	861			$	18,294

(a)

Other revenue is primarily attributable to equipment leasing revenue and is therefore not included in the total for segment gross profit.

(b)

All amounts included within other segment items are individually insignificant.

Three Months Ended June 30, 2025

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	6,632			$	16,595			$	1,729			$	365			$	25,321

Reconciliation of revenue
Other revenue (a)											338								338
Total consolidated revenue																			25,659

Less:
Electricity costs			4,334				602				270				-				5,206
Profit sharing fees			1,052				-				-				-				1,052
Datacenter lease expense			-				1,366				156				-				1,522
GPU lease expense			-				3,749				-				-				3,749
Wage expense			-				-				170				-				170
Service costs - ETH staking			-				-				-				30				30
Other segment items (b)			690				674				92				-				1,456
Segment cost of revenue			6,076				6,391				688				30				13,185

Segment gross profit		$	556			$	10,204			$	1,041			$	335			$	12,136

(a)	Other revenue is primarily attributable to equipment leasing revenue and is therefore not included in the total for segment gross profit.

(b)	All amounts included within other segment items are individually insignificant.

Six Months Ended June 30, 2026

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	6,076			$	40,573			$	9,500			$	3,200			$	59,349
Intersegment revenue			-				-				35				-				35
Segment revenue			6,076				40,573				9,535				3,200				59,384

Reconciliation of revenue
Other revenue (a)											690								690
Elimination of intersegment revenue																			(35	)
Total consolidated revenue																			60,039

Less:
Electricity costs			3,345				1,644				1,589				-				6,578
Profit sharing fees			1,039				-				-				-				1,039
Datacenter lease expense			-				2,974				537				-				3,511
GPU lease expense			-				9,316				-				-				9,316
Wage expense			-				-				458				-				458
Service costs - ETH staking			-				-				-				163				163
Third-party customer support fees			-				1,398				-				-				1,398
Other segment items (b)			628				1,410				1,115				-				3,153
Intersegment cost of revenue			-				35								-				35
Segment cost of revenue			5,012				16,777				3,699				163				25,651

Reconciliation of cost of revenue
Elimination of intersegment cost of revenue																			(35	)
Total consolidated cost of revenue																			25,616

Segment gross profit		$	1,064			$	23,796			$	5,836			$	3,037			$	33,733

(a)	Other revenue is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit.

(b)	All amounts included within Other segment items are individually insignificant.

Six Months Ended June 30, 2025

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	14,409			$	31,438			$	3,367			$	926			$	50,140

Reconciliation of revenue
Other revenue (a)											618								618
Total consolidated revenue																			50,758

Less:
Electricity costs			8,567				1,172				493				-				10,232
Profit sharing fees			2,242				-				-				-				2,242
Datacenter lease expense			-				2,640				307				-				2,947
GPU lease expense			-				7,497				-				-				7,497
Wage expense			-				-				170				-				170
Service costs - ETH staking			-				-				-				62				62
Other segment items (b)			1,390				1,170				230				-				2,790
Segment cost of revenue			12,199				12,479				1,200				62				25,940

Segment gross profit		$	2,210			$	18,959			$	2,167			$	864			$	24,200

(a)	Other revenue is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit.

(b)	All amounts included within Other segment items are individually insignificant.

The following table presents the reconciliation of segment gross profit to net (loss) income before taxes:

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2026				2025				2026				2025

Segment gross profit		$	18,294			$	12,136			$	33,733			$	24,200

Reconciling Items:
Other profit (a)			307				338				690				618
Depreciation and amortization expenses			(10,088	)			(8,224	)			(20,124	)			(15,466	)
Impairment of capitalized software assets			(5,006	)			-				(5,006	)			-
General and administrative expenses			(22,568	)			(19,667	)			(50,195	)			(27,937	)
(Losses) gains on digital assets			(28,841	)			27,155				(149,911	)			(22,051	)
Gains on digital intangible assets			11,324				-				11,324				-
Impairment of digital intangible assets			(46,035	)			-				(46,035	)			-
Net gain (loss) from disposal of property and equipment			-				-				1,822				(334	)
Other (expense) income, net			(8,484	)			4,727				(21,417	)			395
Change in fair value of derivative liability			(13,967	)			-				(4,715	)			-
Interest expense			(8,062	)			-				(13,147	)			-
Net (loss) income before taxes			(113,126	)			16,465				(262,981	)			(40,575	)

(a)	Other profit is primarily attributable to equipment leasing and is therefore not included in the total for segment gross profit.