v3.26.3
Condensed Consolidated Statements of Cashflows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (14,228,666) $ (3,368,737)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 9,849,946 4,529,134
Stock based compensation 2,675,700
Digital asset mining revenue (5,829,668) (4,537,694)
Net unrealized and realized loss (gain) on digital assets 278,713 (306,453)
Impairment of capitalized software 60,092
(Gain) loss on sale of equipment 395
Net change in fair value of derivative 314,100
Amortization of original issue discount 75,586
Changes in operating assets and liabilities:    
Prepaid expense 14,611 (130,673)
Other assets (793,665)
Other receivables (10,643)
Accounts payable and accrued expenses (640,706) 50,717
Net cash used in operating activities (7,516,521) (4,481,390)
Cash flows from investing activities:    
Purchase of equipment (23,803,630)
Payments for deposits on equipment (6,063,982)
Proceeds from sale of equipment 29,990
Investment in ELNG Equity LLC (30,000,000)
Proceeds from sale of digital assets 8,244,361 4,701,834
Net cash used in investing activities (21,755,639) (25,135,788)
Cash flows from financing activities:    
Proceeds from public offering, net of issuance cost 17,899,700
Proceeds long term debt, net of discount 8,400,000
Prepayments of long term debt (4,650,000)
Proceeds from issuance of Class A-1 Units 17,945,000
Proceeds from issuance of Class A-2 Units 10,422,402
Net cash provided by financing activities 17,899,700 32,117,402
Net (decrease) increase in cash (11,372,460) 2,500,224
Cash, beginning of period 38,919,486
Cash, end of period 27,547,026 2,500,224
Supplemental disclosures of cash flow information:    
Cash paid during period for interest 220,050 220,774
Cash paid for taxes
Supplemental disclosures of non-cash financing activities:    
Preferred Series A shares issued for dividends 9
Preferred Series A dividends declared but not issued 3
Preferred Series A shares converted for common stock 1
Preferred Series D shares converted for common stock 7
Common stock issued for services 1,942
Exercise of prefunded warrants for common stock $ 3,495

Source

10-Q XBRL Zip