v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flow from continuing operating activities:    
Net loss $ (24,914,825) $ (4,513,335)
Less: (loss) from discontinued operations 0 (249,024)
Net loss from continuing operations (24,914,825) (4,264,311)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 54,650 65,222
Amortization of operating lease right-of-use assets 307,143 271,099
Non-cash write off of accounts payable and related accrued expenses 0 (676,678)
Share-based compensation 682,942 0
Issuance of shares to non-employees 0 66,667
Cost of booking compute using digital assets 942,567 0
Losses on digital assets 17,421,620 0
Changes in assets and liabilities:    
Accounts receivable (3,289,306) 11,197
Inventories 0 3,054
Other prepaid expense and other assets (592,519) (297,818)
Compute prepayments (34,095,742) 0
Accounts payable 653,430 511,791
Accrued expenses and other liabilities (95,406) 371,361
Contract liabilities 60,610,596 (75,000)
Operating lease liability (314,911) (267,216)
Net cash provided by (used in) continuing operating activities: 17,370,239 (4,280,632)
Cash flow from continuing investing activities:    
Purchase of property and equipment (17,121,106) 0
Net cash (used in) continuing investing activities: (17,121,106) 0
Cash flow from continuing financing activities:    
Proceeds from issuance of common stock and warrants 10,844,932 3,165,365
Costs to issue common stock and warrants (210,687) (202,820)
Payments for taxes related to net share settlement of restricted stock units (74,121) 0
Proceeds from issuance of financing note payable 413,611 264,048
Repayment of note payable (107,951) 0
Net cash provided by continuing financing activities 10,865,784 3,226,593
Discontinued operations:    
Net cash provided by operating activities 0 200,444
Net cash provided by investing activities 0 625,000
Net cash provided by (used in) financing activities 0 0
Net cash provided by (used in) discontinued operations 0 825,444
Net increase (decrease) in cash 11,114,917 (228,595)
Cash and cash equivalents from continuing operations at beginning of period 10,790,850 611,822
Cash and cash equivalents from discontinued operations at beginning of period 0 122,851
Less: Cash from discontinued operations at end of period 0 0
Cash and cash equivalents from continuing operations at end of period 21,905,767 506,078
Supplemental disclosure for cash flow information:    
Cash payments for interest 2,982 1,797
Non-cash transactions:    
Common stock issued as prepayment for services 0 33,333
Non-cash transfer from prepaid to property and equipment (10,500) 0
Shares issued for vested RSUs, net of shares withheld for taxes 396 0
Realized loss on digital assets $ 1,329,854 $ 0