Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

Schedule of Segment Revenue and Segment Gross Profit Reviewed by the CODM

The following tables present segment revenue and segment gross profit reviewed by the CODM:

Three Months Ended September 30, 2026

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	2,022			$	18,106			$	5,617			$	1,028			$	26,773
Intersegment revenue			-				-				29				-				29
Segment revenue			2,022				18,106				5,646				1,028				26,802

Reconciliation of revenue
Other revenue (a)																			294
Elimination of intersegment revenue																			(29	)
Total consolidated revenue																			27,067

Less:
Electricity costs			1,126				823				709				-				2,658
Profit sharing fees			128				-				-				-				128
Data center lease expense			-				1,883				357				-				2,240
GPU lease expense			-				2,861				-				-				2,861
Wage expense			-				-				359				-				359
Service costs - ETH staking			-				-				-				71				71
Third-party customer support fees			-				1,219				-				-				1,219
Other segment items (b)			220				1,121				1,013				-				2,354
Intersegment cost of revenue			-				29				-				-				29
Segment cost of revenue			1,474				7,936				2,438				71				11,919

Reconciliation of cost of revenue
Elimination of intersegment cost of revenue																			(29	)
Total consolidated cost of revenue																			11,890

Segment gross profit		$	548			$	10,170			$	3,208			$	957			$	14,883

(a)	Other revenue is primarily attributable to equipment leasing revenue and is therefore not included in the total for segment gross profit.

(b)	All amounts included within other segment items are individually insignificant.

Three Months Ended September 30, 2025

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	7,416			$	18,033			$	1,692			$	2,869			$	30,010

Reconciliation of revenue
Other revenue (a)																			455
Total consolidated revenue																			30,465

Less:
Electricity costs			3,626				631				289				-				4,546
Profit sharing fees			993				-				-				-				993
Data center lease expense			-				1,381				166				-				1,547
GPU lease expense			-				3,454				-				-				3,454
Wage expense			-				-				92				-				92
Service costs - ETH staking			-				-				-				113				113
Other segment items (b)			414				849				128				-				1,391
Segment cost of revenue			5,033				6,315				675				113				12,136

Segment gross profit		$	2,383			$	11,718			$	1,017			$	2,756			$	17,874

(a)	Other revenue is primarily attributable to equipment leasing revenue and is therefore not included in the total for segment gross profit.

(b)	All amounts included within other segment items are individually insignificant.

Nine Months Ended September 30, 2026

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	8,098			$	58,679			$	15,117			$	4,228			$	86,122
Intersegment revenue			-				-				64				-				64
Segment revenue			8,098				58,679				15,181				4,228				86,186

Reconciliation of revenue
Other revenue (a)																			984
Elimination of intersegment revenue																			(64	)
Total consolidated revenue																			87,106

Less:
Electricity costs			4,471				2,467				2,298				-				9,236
Profit sharing fees			1,167				-				-				-				1,167
Data center lease expense			-				4,857				894				-				5,751
GPU lease expense			-				12,177				-				-				12,177
Wage expense			-				-				817				-				817
Service costs - ETH staking			-				-				-				234				234
Third-party customer support fees			-				2,617				-				-				2,617
Other segment items (b)			848				2,531				2,128				-				5,507
Intersegment cost of revenue			-				64				-				-				64
Segment cost of revenue			6,486				24,713				6,137				234				37,570

Reconciliation of cost of revenue
Elimination of intersegment cost of revenue																			(64	)
Total consolidated cost of revenue																			37,506

Segment gross profit		$	1,612			$	33,966			$	9,044			$	3,994			$	48,616

(a)	Other revenue is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit.

(b)	All amounts included within Other segment items are individually insignificant.

Nine Months Ended September 30, 2025

		Digital asset mining				Cloud services				Colocation services				ETH staking				Total
Revenue from external customers		$	21,825			$	49,470			$	5,060			$	3,795			$	80,150

Reconciliation of revenue
Other revenue (a)																			1,073
Total consolidated revenue																			81,223

Less:
Electricity costs			12,193				1,803				782				-				14,778
Profit sharing fees			3,235				-				-				-				3,235
Data center lease expense			-				4,020				473				-				4,493
GPU lease expense			-				10,951				-				-				10,951
Wage expense			-				-				262				-				262
Service costs - ETH staking			-				-				-				175				175
Other segment items (b)			1,804				2,020				358				-				4,182
Segment cost of revenue			17,232				18,794				1,875				175				38,076

Segment gross profit		$	4,593			$	30,676			$	3,185			$	3,620			$	42,074

(a)	Other revenue is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit.

(b)	All amounts included within Other segment items are individually insignificant.

The following table presents the reconciliation of segment gross profit to net (loss) income before taxes:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025

Segment gross profit		$	14,883			$	17,874			$	48,616			$	42,074

Reconciling Items:
Other profit (a)			294				455				984				1,073
Depreciation and amortization expenses			(11,067	)			(9,636	)			(31,191	)			(25,102	)
Impairment of capitalized software assets			-				-				(5,006	)			-
General and administrative expenses			(25,478	)			(33,095	)			(75,673	)			(61,032	)
Gains (losses) on digital assets			84,040				168,041				(65,871	)			145,990
Gains on digital intangible assets			5,381				-				16,705				-
Impairment of digital intangible assets			(3,219	)			(1,836	)			(49,254	)			(1,836	)
Net gain (loss) from disposal of property and equipment			93				(539	)			1,915				(873	)
Induced conversion expense			(80,767	)			-				(80,767	)			-
Other income (expense), net			17,445				6,159				(3,972	)			6,554
Change in fair value of derivative liability			10,736				-				6,021				-
Interest expense			(10,397	)			-				(23,544	)			-
Net income (loss) before taxes			1,944				147,423				(261,037	)			106,848

(a)	Other profit is primarily attributable to equipment leasing and is therefore not included in the total for segment gross profit.