v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (66,598,023) $ (4,396,857)
Net loss from discontinued operations (2,947,875) (925,187)
Net loss from continuing operations (63,650,148) (3,471,670)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash revenue from network validation and services (1,515,630)
Unrealized loss from digital assets holdings and receivables 38,749,254
Deferred tax benefit (10,892,415)
Stock based compensation 32,329,614 430,917
Increase in operating assets:    
Prepaid expenses and other current assets (764,031) (150,755)
Increase (decrease) in operating liabilities:    
Accounts payable (158,596) 329,453
Accrued expenses 477,255 (225,964)
Net cash used in operating activities – continuing operations (5,424,697) (3,088,019)
Net cash used in operating activities – discontinued operations (4,448,795) (743,512)
Net cash used in operating activities (9,873,492) (3,831,531)
Cash flows from investing activities:    
Purchase of digital assets (59,586,023)
Collateral paid on digital asset option contracts (1,000,000)
Net cash used in investing activities (60,586,023)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon registered direct public equity offerings 54,894,300
Proceeds from issuance of common stock upon private investment in public equity offerings 2,500,000
Proceeds from issuance of common stock upon at-the-market offerings 39,791,684 266,625
Proceeds from exercise of common stock warrants 186,579
Payment of deferred offering costs and other issuance costs (3,627,422) (272,246)
Proceeds from insurance premium financing liability 285,178
Repayment of insurance premium financing liability (200,638)
Repayments of note payable (64,769)
Net cash provided by financing activities 91,245,141 2,514,150
Net increase (decrease) in cash 20,785,626 (1,317,381)
Cash, beginning of period – including discontinued operations 17,032,748 3,559,361
Cash, end of period – including discontinued operations 37,818,374 2,241,980
Cash, end of period – discontinued operations 576,806
Cash, end of period –continuing operations 37,241,568 2,241,980
Supplemental disclosure of non-cash activities:    
Digital assets acquired but not yet settled in cash 77,083
Supplemental disclosure of non-cash financing activities:    
Amortization of deferred offering cost from ATM offering 24,832
Reduction of premium related to insurance premium financing 101,102
Issuance of note payable for settlement of previously incurred professional fees 314,485
Issuance of options to settle liability $ 200,212