Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

Property, plant and equipment are depreciated using the straight-line method based on the estimated useful lives of the assets as follows:

●	Buildings	15 - 20 years
●	Land	Indefinite
●	Machinery	3 – 15 years
●	Electronic equipment	3 – 15 years
●	Leasehold improvements and property improvements	3 – 15 years
●	Containerized solution	4 – 8 years
●	Graphics Processing Unit (“GPU”) equipment	4 years
●	Mining rigs	2 – 3 years
●	Others	3 – 10 years

The estimated weighted average useful lives from the date of purchases are as follows:

●	Rights to electrical capacity	Lease term of the datacenter or the access rights period
●	Technologies	3 years
●	Patents, trademarks, royalties and other rights	3 - 5 years
●	Software	3 -10 years

Details of revenues for each category are as follows:

	Six months ended June 30,
In thousands of USD	2026		2025
Net Service Revenues
Self-mining		315,226		96,538
Co-mining		34,002		-
Cloud hash rate		7,425		51
General hosting		8,226		18,960
Membership hosting		26,529		30,868
AI cloud services		17,689		2,691
Others ⁽¹⁾		2,943		2,905

Net Product Revenues
Sale of mining rigs and accessories		4,087		73,554
Others ⁽²⁾		1,587		143
Total revenues		417,714		225,710

(1)	Other service revenues primarily comprise revenue from the provision of technical and human resources services, repair services for hosted mining rigs, the leasing of property, plant and equipment, and cloud hosting arrangements.

(2)	Other product revenues primarily comprise revenue from the sale of mining rig peripherals and containerized solution products.