v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 21,905,767 $ 10,790,850
Accounts receivable 3,321,426 32,120
Compute prepayments 11,148,981 0
Other prepaid expense and current assets 873,423 280,904
Digital assets 11,268,342 24,439,598
Digital asset receivable 7,547,221 7,226,475
Total current assets 56,065,160 42,769,947
Compute prepayments, net of current portion 22,946,761  
Digital asset receivable, net of current portion 2,745,004 8,258,681
Property and equipment, net 17,291,873 223,128
Lease right-of-use assets 1,180,560 1,487,703
Other long-term assets 146,598 148,887
Total assets 100,375,956 52,888,346
Current liabilities:    
Accounts payable 2,494,038 1,840,608
Note payable 413,611 107,951
Accrued expenses and other liabilities 1,425,113 1,520,518
Contract liabilities 33,645,987 144,076
Lease liability 708,159 653,743
Total current liabilities 38,686,908 4,266,896
Contract liabilities, net of current portion 27,108,685 0
Lease liability, net of current portion 535,168 904,495
Total liabilities 66,330,761 5,171,391
Common stock, $.01 par value, 200,000,000 shares authorized, 11,384,940 and 4,083,173 shares outstanding as of June 30, 2026, and December 31, 2025, respectively 113,849 40,832
Additional paid-in capital 472,366,853 461,196,805
Accumulated deficit (438,436,299) (413,521,474)
Total stockholders’ equity 34,045,195 47,716,955
Total liabilities and stockholders’ equity 100,375,956 52,888,346
Series B Convertible Preferred Stock [Member]    
Current liabilities:    
Series B Convertible Preferred Stock, $.01 par value, 2,300,000 shares authorized, 79,246 shares outstanding as of June 30, 2026 and December 31, 2025 $ 792 $ 792