v3.26.3
Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Net Loss From Discontinued Operation

The major line items constituting the net (loss) income from discontinued operations during the three and nine months ended September 30, 2026 and September 30, 2025 are as follows (in thousands):

 

   Digital Assets   Reinsurance   Total 
   Three Months Ended September 30, 2026 
   Digital Assets   Reinsurance   Total 
Staking rewards  $-   $-   $- 
                
General and administrative expenses   (29)   -    (29)
Loss on ETH digital assets   (108)   -    (108)
Total expenses   (137)   -    (137)
Loss from operations   (137)   -    (137)
Other expense   -    -    - 
Loss from discontinued operations before taxes   (137)   -    (137)
Income tax expense   -    -    - 
Net loss from discontinued operations  $(137)  $-   $(137)

 

 

   Digital Assets   Managed Services   Reinsurance   Total 
   Three Months Ended September 30, 2025     
   Digital Assets   Managed Services   Reinsurance   Total 
Net product and services revenue  $641   $3,941   $-   $4,582 
Net premiums earned   -    -    2,017    2,017 
Total revenue   641    3,941    2,017    6,599 
Cost of products and services revenues   -    (3,233)   -    (3,233)
Net losses and loss adjustment expenses   -    -    (1,691)   (1,691)
Amortization of deferred policy acquisition costs   -    -    (551)   (551)
Realized loss on cryptocurrency assets   (21)   -    -    (21)
Unrealized gain on ETH digital assets   14,078    -    -    14,078 
Selling and administrative expenses   (454)   (380)   (339)   (1,173)
Total expenses   13,603    (3,613)   (2,581)   7,409 
Income (loss) from operations   14,244    328    (564)   14,008 
Other expense   -    (7)   (11)   (18)
Income (loss) from discontinued operations before taxes   14,244    321    (575)   13,990 
Income tax expense   -    -    -    - 
Net income (loss) from discontinued operations  $14,244   $321   $(575)  $13,990 

 

   Digital Assets   Reinsurance   Total 
   Nine Months Ended September 30, 2026 
   Digital Assets   Reinsurance   Total 
Staking rewards  $144   $-   $144 
                
General and administrative expenses   (1,815)   -    (1,815)
Loss on ETH digital assets   (41,276)   -    (41,276)
Gain on digital intangible assets   398    -    398 
Impairment of digital intangible assets   (2,793)   -    (2,793)
Gain on sale of reinsurance business   -    1,625    1,625 
Total expenses   (45,486)   1,625    (43,861)
(Loss) income from operations   (45,342)   1,625    (43,717)
Other expense   -    -    - 
(Loss) income from discontinued operations before taxes   (45,342)   1,625    (43,717)
Income tax expense   -    -    - 
Net (loss) income from discontinued operations  $(45,342)  $1,625   $(43,717)

 

   Digital Assets   Managed Services   Reinsurance   Total 
   Nine Months Ended September 30, 2025     
   Digital Assets   Managed Services   Reinsurance   Total 
Net product and services revenue  $641   $19,387   $-   $20,028 
Net premiums earned   -    -    12,214    12,214 
Total revenue   641    19,387    12,214    32,242 
Cost of products and services revenues   -    (16,020)   -    (16,020)
Net losses and loss adjustment expenses   -    -    (7,022)   (7,022)
Amortization of deferred policy acquisition costs   -    -    (3,308)   (3,308)
Realized loss on cryptocurrency assets   (21)   -    -    (21)
Unrealized gain on ETH digital assets   14,078    -    -    14,078 
Selling and administrative expenses   (454)   (2,550)   (1,523)   (4,527)
Impairment of assets   -    -    (1,478)   (1,478)
Total expenses   13,603    (18,570)   (13,331)   (18,298)
Income (loss) from operations   14,244    817    (1,117)   13,944 
Other income   -    1    8    9 
Income (loss) from discontinued operations before taxes   14,244    818    (1,109)   13,953 
Income tax expense   -    -    -    - 
Net income (loss) from discontinued operations  $14,244   $818   $(1,109)  $13,953 
Summary of Discontinued Operations Constituting The Asset And Liabilities

 

  

Digital

Assets

   Reinsurance   Total 
   December 31, 2025 
  

Digital

Assets

   Reinsurance   Total 
ETH digital assets  $119,384   $-   $119,384 
Reinsurance balance receivable   -    11,218    11,218 
Funds deposited with reinsured companies   -    2,665    2,665 
Total assets of discontinued operations  $119,384   $13,883   $133,267 
                
Accounts payable and accrued liabilities  $

707

   $169   $876 
Loss and loss adjustment expense reserves   -    5,380    5,380 
Present value of future profits   -    3,878    3,878 
Total liabilities of discontinued operations  $707   $9,427   $10,134