For the Year Ended December 31,

2025

2024

2023

Segment revenue:

Total Revenue

477,532

463,330

284,106

Less:

Cost of Revenue (including depreciation and amortization)

(448,599

)

(433,608

)

(271,393

)

Segment gross profit

28,933

29,722

12,713

Reconciliation to net (loss)/income:

Reconciling items:

Other segment items:

Sales and marketing expenses

(3,727

)

(7,462

)

(1,863

)

General and administrative expenses

(9,125

)

(25,271

)

(3,682

)

Research and development expenses

(2,543

)

(5,600

)

(1,741

)

Credit loss provision for receivables

(981

)

-

(100

)

Gain on sale of recovery rights on assets held by FTX

-

7,270

-

Impairment loss on digital assets

-

(6,987

)

Impairment loss on mining equipment

(25,400

)

(8,076

)

-

Changes in fair value of digital asset receivables or payables

1,172

(1,320

)

-

Changes in fair value of digital assets

(8,693

)

76,933

18,231

Loss on disposal of mining equipment

(3,395

)

-

Investment income

462

416

-

Interest expense

(8,562

)

(6,328

)

(5,535

)

Interest income

2,284

1,624

1,055

Other income/(expense), net

311

(277

)

587

Income tax expense

(1,878

)

(7,668

)

(2,183

)

Net (loss)/profit

(31,142

)

53,963

10,495