CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenue | ||||
| Total revenue | $ 6,712,805 | $ 3,085,439 | $ 10,132,723 | $ 4,956,691 |
| Costs and expenses | ||||
| Cost of revenue | 2,242,402 | 1,386,374 | 4,378,199 | 2,601,468 |
| General and administrative expenses | 4,342,620 | 2,454,605 | 8,250,275 | 3,263,676 |
| Sales and marketing expenses | 916,220 | 366,093 | 1,152,572 | 664,293 |
| Depreciation and amortization expense | 6,882,154 | 1,059,900 | 9,548,999 | 1,537,948 |
| Total costs and expenses | 14,383,396 | 5,266,972 | 23,330,045 | 8,067,385 |
| Operating loss | (7,670,591) | (2,181,533) | (13,197,322) | (3,110,694) |
| Other income (expenses) | ||||
| Income from equity method investments | 0 | 629,816 | 21,994 | 864,320 |
| Gain on sale of equity method investments | 0 | 0 | 12,569,661 | 0 |
| Gain on remeasurement of investment in TCM | 0 | 14,549,536 | 0 | 14,549,536 |
| Change in fair value of warrant liability | 0 | 0 | (1,585,838) | (692,103) |
| Change in fair value of digital assets | 0 | 85,756 | 0 | 37,984 |
| Change in fair value of convertible note | 2,380,000 | 0 | 2,380,000 | 0 |
| Change in fair value of additional convertible notes option | 3,850,850 | 0 | 3,850,850 | 0 |
| Gain on sale of property and equipment | 1,034 | 0 | 36,298 | 0 |
| Loss on issuance of convertible note | (19,241,000) | 0 | (73,881,850) | 0 |
| Loss on extinguishment of debt | 0 | (71,094) | 0 | (153,834) |
| Other income (expense), net | (113,905) | (7,527) | (187,750) | 26,954 |
| Interest expense, net | (2,045,748) | (601,260) | (2,584,024) | (940,946) |
| Total other income (expenses), net | (15,168,769) | 14,585,227 | (59,380,659) | 13,691,911 |
| Income (loss) before income tax expense | (22,839,360) | 12,403,694 | (72,577,981) | 10,581,217 |
| Income tax expense (benefit) | (63,154) | 285,120 | (185,064) | 285,120 |
| Net income (loss) | (22,776,206) | 12,118,574 | (72,392,917) | 10,296,097 |
| Net income (loss) in non-controlling interests | 100,128 | 0 | (150,711) | 0 |
| Net income (loss) attributable to common shareholders | $ (22,876,334) | $ 12,118,574 | $ (72,242,206) | $ 10,296,097 |
| Net income (loss) per share, basic (in dollars per share) | $ (0.72) | $ 0.71 | $ (2.28) | $ 0.66 |
| Net income (loss) per share, diluted (in dollars per share) | $ (0.72) | $ 0.46 | $ (2.28) | $ 0.43 |
| Weighted-average common stock outstanding, basic (in shares) | 31,740,634 | 16,983,356 | 31,680,098 | 15,500,358 |
| Weighted-average common stock outstanding, diluted (in shares) | 31,740,634 | 26,486,792 | 31,680,098 | 24,239,377 |
| Revenue from cryptocurrency mining | ||||
| Revenue | ||||
| Total revenue | $ 410,081 | $ 148,038 | $ 779,060 | $ 295,839 |
| Revenue from mining hosting services | ||||
| Revenue | ||||
| Total revenue | 693,778 | 1,625,701 | 1,642,205 | 3,349,152 |
| Revenue from compute power | ||||
| Revenue | ||||
| Total revenue | $ 5,608,946 | $ 1,311,700 | $ 7,711,458 | $ 1,311,700 |
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- Definition Fair Value Adjustment of Convertible Debt No definition available.
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- Definition Fair Value Adjustment of Convertible Debt Option No definition available.
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- Definition Gain (Loss) on Issuance of Convertible Debt No definition available.
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- Definition Gain (Loss) on Remeasurement of Equity Method Investments No definition available.
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- Definition Other Nonoperating Income (Expense), Miscellaneous No definition available.
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of realized and unrealized gain (loss) from remeasurement of crypto asset, classified as nonoperating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of an equity method investment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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