v3.26.1
Accrued Expenses and Other Payables
 12 Months Ended
Dec. 31, 2025
Accrued Expenses and Other Payables [Abstract]  
ACCRUED EXPENSES AND OTHER PAYABLES
11.ACCRUED EXPENSES AND OTHER PAYABLES

 

Accrued expenses and other payables consisted of the following:

 

   As of December 31, 
   2025   2024 
         
Interest payable (1)   7,020    5,177 
Accrued expenses   3,918    2,292 
Deposits and other payables to customers (2)   2,902    1,040 
Others   2,220    264 
Total   16,060    8,773 

 

(1) The interest payable represents the accrued interest for (i) long-term payables owed to the mining equipment supplier totaling $94.36 million with a fixed interest rate of 6% per annum (see Note 12); and (ii) long-term loans totaling $15.0 million with a fixed annual interest rate of 6.5% (see Note 13). During the years ended December 31, 2025, 2024 and 2023, the Company recorded interest expense of $8.56 million, $6.33 million and $5.54 million, respectively.

 

(2) The Company recognizes refund liabilities in respect of amounts received from customers, comprising deposits for hosting services and temporary overpayments that are subject to refund.