v3.26.1
Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue $ 31,138 $ 8,423 $ 42,094 $ 12,563
Operating costs and expenses:        
Cost of revenue (excluding depreciation and amortization) 1,717 541 3,296 1,244
Selling, general and administrative (excluding depreciation and amortization) 13,625 793 16,283 1,567
Depreciation and amortization 18,145 2,509 22,868 3,880
Colocation lease cost 10,555 1,562 15,222 2,372
Total operating costs and expenses 44,042 5,405 57,669 9,063
(Loss) income from operations (12,904) 3,018 (15,575) 3,500
Other (expense) income:        
Loss on sale of equipment (195)
Interest expense (5,051) (454) (6,448) (663)
Loss in fair value of digital asset receivable (35) (3) (96)
Loss on extinguishment of debt (1,351) (1,351)
Other income (expense), net 1 (47) 5
Total other expenses, net (6,402) (488) (7,849) (949)
Net (loss) income before income taxes (19,306) 2,530 (23,424) 2,551
Provision for income taxes (55,741) (55,741)
Net (loss) income $ (75,047) $ 2,530 $ (79,165) $ 2,551
Common Class A [Member]        
Basic:        
Net (loss) income per share, basic $ (1.67)   $ (2.09)  
Diluted:        
Net (loss) income per share, diluted $ (1.67) $ 0.06 $ (2.09) $ 0.06
Basic:        
Weighted-average shares outstanding, basic 15,499,251 8,363,328
Diluted:        
Weighted-average shares outstanding, diluted 45,032,269 42,083,748 37,896,346 42,069,562
Common Class B [Member]        
Basic:        
Net (loss) income per share, basic $ (1.67) $ 0.09 $ (2.09) $ 0.09
Basic:        
Weighted-average shares outstanding, basic 29,533,018 29,533,018 29,533,018 29,533,018