The Corporation leases computing hardware to customers under a bare-metal rental arrangement with a non-cancellable term of 24 months. The arrangement has been classified as an operating lease. The agreements do not contain any options to extend or terminate the lease. The consideration for the lease is entirely variable based on actual usage and are not dependent on an index or rate. Accordingly, there are no material future fixed minimum lease payments to be received.

The Corporation received a non-refundable upfront payment under its bare-metal GPU rental arrangement, which represents a prepayment of lease consideration. The upfront payment is recorded as deferred lease income and recognized as lease income on a straight-line basis over the 24-month non-cancellable lease term at $114,232 per month. As at June 30, 2026, deferred lease income was $2,513,111 (as compared to $0 at December 31, 2025), of which $1,370,788 is expected to be recognized within twelve months and is classified as current, and $1,142,323 is classified as noncurrent.