v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities:    
Net income (loss) $ (50,990,660) $ (10,664,509)
Adjustments to reconcile net loss to net cash used in operating activities:    
Credit losses on accounts receivable 1,272,889  
Credit losses on R&D activity 500,000  
Amortization of debt discount   82,878
Non-cash operating lease expense 206,987 271,065
Gain on debt extinguishment   (50,000)
Depreciation and amortization expense 576,712 589,723
Stock-based compensation 2,367,523 3,222,167
Write down equipment deposits   1,355,174
Change in fair value of accrued issuable equity   (319,276)
Change in fair value of digital assets 31,359,380 (7,619,060)
Digital assets received as downtime credits (18,701) (320,526)
Mining of digital assets (1,268,293) (1,368,323)
Subtotal 34,996,497 (4,156,178)
Changes in operating assets and liabilities:    
Accounts receivable 1,139,445 (1,492,777)
Auto-Vibe assets 25,000  
Inventory (930,157) (226,656)
Inventory deposits 399,609 (198,604)
Prepaid expenses and other current assets (1,445,242) (4,236,870)
Security deposit (67,550)  
Accounts payable (1,616,188) (248,566)
Accrued expenses and other current liabilities 761,936 19,356
Operating lease liabilities (214,549) (246,446)
Deferred revenue 251,078 (9,127)
Subtotal (1,696,618) (6,639,690)
Net Cash Used In Operating Activities (17,690,781) (21,460,377)
Cash Flows From Investing Activities:    
Equity investments   (3,325,045)
Equipment deposits (1,134,319) (77,340)
Payment of holdback amount related to Caban asset acquisition (594,860)  
Purchases of property and equipment (397,561) (334,648)
Purchases of digital assets   (69,900,009)
Net Cash Used In Investing Activities (2,126,740) (73,637,042)
Cash Flows from Financing Activities:    
Proceeds from loan payable 20,000,000  
Proceeds from ATM equity financing   89,484,074
Issuance costs on ATM equity financing [1]   (2,239,735)
Proceeds from exercise of stock options   7,565
Payments for deferred financing costs   (577,000)
Repayments of notes payable   (577,674)
Repayment of finance lease liability   (1,221)
Payment of employee tax withholdings from shares withheld (414,684) (260,340)
Net Cash Provided By Financing Activities 19,585,316 85,835,669
Net Decrease In Cash (232,205) (9,261,750)
Cash and Restricted Cash - Beginning of Period 13,300,188 29,831,858
Cash and Restricted Cash - End of Period 13,067,983 20,570,108
Cash paid during the period for:    
Interest 113,980 30,221
Non-cash investing and financing activities:    
Digital assets, pledged as collateral 33,083,010  
Deposits applied to purchases of property and equipment 1,923,200  
Right-of-use asset for operating lease liability 1,536,777 691,852
Accounts payable and accrued expenses for property and equipment purchases 22,014 26,891
Deferred financing costs charged to additional paid-in capital   351,400
Common stock issued in satisfaction of accrued issuable equity   69,500
Shares returned to treasury for employee payroll tax obligations   97,522
Preferred shares issued for no consideration   27
Common shares issued for restricted stock units vested $ 35 $ 13
[1] Excludes $351,400 of deferred financing costs paid in prior periods.