v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,115,542) $ (5,406,999)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 829,828 2,037,578
Noncash lease expense 57,561 50,592
Amortization of debt issue costs and debt discount 286,045 21,264
Stock option expense 331,149 110,805
Accrued interest expense on finance lease 12,957 14,710
Loss on fair value of Bitcoin, net 3,784,418 1,862,680
Loss on fair value of digital assets receivable 3,178,440 0
Unrealized loss on marketable securities 2,380 8,710
Gain on Galaxy loan derivative (22,374) 0
Change in credit loss reserve on digital assets receivable (5,794) 0
Unrealized loss (gain) on investment and equity securities (14,024) 25,984
Loss on disposal of fixed assets 0 186,781
Write-off of income tax receivable 31,187 0
Change in operating assets and liabilities:    
Prepaid expenses and other assets 111,323 96,526
Advances to related party 16,538 21,368
Accounts payable and accrued expenses 229,851 370,328
Mining of digital assets (1,978,180) (2,273,940)
Lease liability payments (24,296) (25,395)
Net cash used in operating activities (3,288,533) (2,899,008)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (207,869) (170,073)
Collection of note receivable 0 200,000
Investment in digital assets - Tether (3,198) (31,420)
Proceeds from sale of Bitcoin 3,100,216 1,204,680
Proceeds from the sale of Tether 3,174 27,964
Change in deposits for mining equipment 0 (480,176)
Distribution to members 0 (1,015)
Net cash provided by investing activities 2,895,836 749,101
CASH FLOWS FROM FINANCING ACTIVITIES:    
Insurance financing repayments (230,700) (193,090)
Proceeds from warrant exercise, net of issuance costs 172 0
Issuance costs 0 (6,285)
Net cash used in financing activities (230,528) (199,375)
NET DECREASE IN CASH (623,225) (2,349,282)
CASH - BEGINNING OF PERIOD 1,424,426 3,378,152
CASH - END OF PERIOD 801,201 1,028,870
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES    
Insurance financing 0 168,324
Recognition of Galaxy loan derivative 237,487 0
Digital assets transferred to digital assets receivable, net 2,375,176 0
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION    
Cash paid for taxes 0 0
Cash paid for interest 210,029 184,932
Original Product [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables 4,602 458
Special Product [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables $ (1,089) $ (1,317)

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