v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating Activities                  
Net loss $ (22,624) $ (17,902) $ (16,070) $ (25,787) $ (7,780) $ (7,354) $ (40,526) $ (15,134)  
Adjustments to reconcile net loss to net cash used in operating activities:                  
Depreciation expense 3,300       1,600   5,494 3,121  
Amortization expense             4,841 4,746  
Stock-based compensation             19,702 3,789  
Deferred income taxes (547)       (615)   (1,179) (1,051)  
Right of first refusal amortization gain             (135) 0  
Impairment on fixed assets and intangibles             70 12  
Amortization of operating and finance lease asset             155 30  
Loss (gain) on debt extinguishment and revaluation, net 4,197       0   4,197 (551)  
Amortization of deferred financing costs and discount on notes             2,209 338  
Fair value adjustments, including SEPA             (246) 118  
SEPA commitment cost             250 0  
Accretion of asset retirement obligation 79           79 0  
Loss on sale of fixed assets and deposit on equipment, net 585       22   553 22  
Changes in operating assets and liabilities:                  
Accounts receivable             277 44  
Prepaid expenses and other current assets             (1,847) (455)  
Other long-term assets             0 1,607  
Accounts payable             (2,528) 1,102  
Contract termination liability             0 (667)  
Deferred revenue             (249) 0  
Operating lease liabilities             123 (30)  
Other liabilities and customer deposits             914 644  
Accrued liabilities and interest payable             (3,709) 1,042  
Net cash used in operating activities             (11,555) (1,273)  
Investing Activities                  
Purchases of property, plant, and equipment             (9,483) (7,790)  
Purchases of intangible assets             (68) (83)  
Proceeds from sale of property, plant, and equipment             32 0  
Briscoe acquisition purchase, net of cash acquired             (51,415) 0  
Deposits on equipment             (4,130) (476)  
Net cash used in investing activities             (65,064) (8,349)  
Financing Activities                  
Proceeds from common stock warrant exercises             2,553 0  
Proceeds from notes             24,500 5,269  
Payments on notes and deferred financing costs             (18,026) (3,275)  
Payments on Series B dividends             (2,058) 0  
Costs on treasury stock             (131) 0  
Payments on financing lease liabilities             (113) 0  
Purchase of membership interest of Dorothy 1A and Dorothy 1B             (25,266) 0  
Contributions from non-controlling interest             10,918 11,852  
Distributions to non-controlling interest             (5,705) (3,575)  
Net cash provided by financing activities             119,065 14,322  
Increase (decrease) in cash & restricted cash             42,446 4,700  
Cash & restricted cash – beginning of period   $ 88,843   $ 15,153   $ 10,453 88,843 10,453 $ 10,453
Cash & restricted cash – end of period $ 131,289   $ 88,843   $ 15,153   131,289 15,153 $ 88,843
Supplemental Disclosure of Cash Flow Information                  
Interest paid on debt             2,248 685  
Fair value consideration for Green Cloud issuance of shares             0 810  
Construction in progress included in accounts payable and accrued liabilities             2,743 0  
Warrant consideration in relation to Generate and Yorkville Warrants             3,249 0  
Noncash membership distribution accrual             0 323  
Warrant adjustment             682 0  
Noncash activity right-of-use assets adjustment             430 0  
SEPA                  
Financing Activities                  
Proceeds from sale of common stock on SEPA             18,928 2,005  
ATM                  
Financing Activities                  
Proceeds from sale of common stock on ATM             $ 113,465 $ 2,046