v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current    
Cash and cash equivalents $ 11,368 $ 22,135
Restricted cash 5,440
Escrow receivable 4,345 5,430
Liquid staking tokens 4,726
Staking rewards receivable 1,839
Other receivables 244 17
Deposit receivable 58 58
Prepaid expenses and other current assets 4,168 5,863
Total current assets 32,188 33,503
Non-current    
Property and equipment, net 5,973 4,246
Digital assets, non-current 81,609 153,670
Intangible assets, net 294 409
Intangible asset held for sale 1,550 1,550
Goodwill 1,535 1,535
Lease deposit, non-current 50 50
Total assets 123,199 194,963
Current    
Accounts payable and accrued liabilities 1,683 1,278
Debentures, net of discount 12,985 6,439
Loan payable 206 220
Other current liabilities 50 50
Total liabilities 14,924 7,987
Commitments and contingencies - See Note 15
Shareholders’ equity    
Common shares, no par value per share - unlimited shares authorized, 7,713,231 and 7,760,179 shares issued and 7,363,270 and 7,744,900 outstanding at June 30, 2026 and December 31, 2025, respectively [1] 282,147 283,554
Treasury shares (2,898) (258)
Additional paid-in-capital 22,206 22,968
Subscriptions receivable - digital assets (16,606) (24,234)
Obligation to issue shares 44 44
Accumulated deficit (175,497) (93,977)
Accumulated other comprehensive loss (1,121) (1,121)
Total shareholders’ equity 108,275 186,976
Total liabilities and shareholders’ equity $ 123,199 $ 194,963
[1] reflects the 1:12 reverse stock split effected on June 15, 2026.