v3.26.1
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss)/income $ (55,493) $ 30,327
Adjustments to reconcile net (loss)/income to net cash used in operating activities:    
Net income received or to be received by digital assets (19,454) (92,314)
Credit loss provision for receivables 165
Loss on disposal of mining equipment 168
Changes in fair value of digital asset receivables or payables 3,003 (5,170)
Changes in fair value of digital assets 49,494 (17,500)
Depreciation of property and equipment 5,798 13,277
Amortization of right of use asset 122
Share based compensation 1,163 299
Earnings from equity method investments (31) (71)
Deferred income tax (5,407) 1,876
Changes in operating assets and liabilities:    
Accounts receivable 27 106
Prepayments (3,071) (5,371)
Operating lease liabilities (126)
Amount (due to)/due from related parties (4,150) 4,565
Other current assets 634 2,276
Deposit receivables
Accounts payable (938) 10,826
Taxes credit (1,444) (156)
Accrued expenses and other payables (1,062) 2,563
Net cash used in operating activities (30,770) (54,299)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of digital assets 33,302 76,833
Purchase of financial assets held for trading (769)
Purchases of equity investment (363)
Purchase of digital assets (4,000) (10,500)
Acquisition of subsidiaries, net of cash acquired (9,880)
Return of capital to non-controlling shareholder (980)
Purchases of equipment (2,037) (7,610)
Net cash provided by investing activities 25,153 48,843
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of ordinary shares 76 431
Net cash provided by financing activities 76 431
Net change in cash and cash equivalents (5,541) (5,025)
Cash and cash equivalents at beginning of the periods 27,761 45,111
Cash and cash equivalents at end of the periods 22,220 40,086
SUPPLEMENTAL INFORMATION    
Cash paid for interest 96
Cash paid for income tax 606 482
Supplemental non-cash operating activities    
Net digital assets (used in)/provided by operating activities (25,513) 93,509
Supplemental non-cash investing activities    
Net digital assets used in investing activities (15,853) (57,089)
Supplemental non-cash financing activities    
Repayment of long-term loans in digital assets (13,000)
Proceeds from long-term loans in digital assets 3,400 5,000
Repayment of long-term payables in digital assets $ (1,000)