| Schedule of Consolidated Financial Statements |
The consolidated financial
statements include the financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its
subsidiaries have been eliminated upon consolidation.
| | | Principal activities | | Percentage of
ownership | | | Date of
incorporation | | Place of
incorporation | BGIN BLOCKCHAIN LIMITED
(the “Company”) | | Investment holding | | | Parent | | | March 23, 2022 | | Cayman Islands | Bgin Rig Limited
(“BRL”) | | Investment holding | | | 100 | % | | June 7, 2022 | | British Virgin Islands (“BVI”) | | Bgin Field Limited (“BFL”) | | Investment holding | | | 100 | % | | June 7, 2022 | | BVI | Bgin Tech Limited
(“BTL HK”) | | Mining of cryptocurrencies | | | 100 | % | | March 18, 2019 | | Hong Kong | Bgin Infrastructure, LLC
(“BILC”) | | Mining of cryptocurrencies and hosting services | | | 100 | % | | September 10, 2021 | | U.S. | Bgin Management, LLC
(“BMLC”) | | Mining of cryptocurrencies and hosting services | | | 80 | % | | September 10, 2021 | | U.S. | Bgin Tech Pte. Ltd.
(“BTPS”) | | Development of Mining Machine | | | 100 | % | | December 27, 2021 | | Singapore | | Bgin US Limited (“BUL”) | | Investment holding | | | 100 | % | | June 17, 2022 | | BVI | | Bgin CA Limited (“BCL US”)** | | Investment holding | | | 100 | % | | June 17, 2022 | | BVI | | Gestion Bgin INC (“GBI”)** | | Mining of cryptocurrencies | | | 100 | % | | October 12, 2021 | | Canada | | Infrastructure Bgin INC (“IBI”)** | | Mining of cryptocurrencies | | | 100 | % | | October 12, 2021 | | Canada | | | | | | | | | | | | | | Subsidiaries incorporated after reorganization | | | | | | | | | | | Bgin Chip Limited
(“BCL”) | | Development of computer chips | | | 100 | % | | June 24, 2022 | | Hong Kong | Bgin Mining INC
(“BMI”) | | Mining of cryptocurrencies | | | 100 | % | | December 5, 2022 | | U.S. | Bgin Trading Limited
(“BTL”) | | Sales of Mining Machine | | | 100 | % | | December 8, 2022 | | Hong Kong | | Bgin Technologies Pte. Ltd. (“BTPL”) | | Sales of Mining Machine | | | 100 | % | | May 27, 2024 | | Singapore | Bgin Trade HK Limited
(“BTH”) | | Sales of Mining Machine | | | 100 | % | | August 20, 2024 | | Hong Kong | | Bgin EU Limited (“BEU”) | | Global mining machine after-sale services | | | 100 | % | | November 14, 2024 | | Ireland | | Bgin Construction INC (“BCI”) | | Mining of cryptocurrencies and hosting services | | | 100 | % | | July 7, 2025 | | U.S. |
| ** | All these entities were dissolved on January 9, 2025 |
|
| Schedule of Revenues Disaggregated by Revenues from Contracts with Customers |
The following table presents
the Company’s revenues disaggregated by revenues from contracts with customers and other sources:
| | |
December 31,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
US$ | | |
US$ | | |
US$ | |
| Revenues from contracts with customers | |
| | |
| | |
| |
| Transaction fees from cryptocurrency mining | |
| 193,222 | | |
| 4,539,214 | | |
| — | |
| Cryptocurrency mining in third-party mining pools | |
| 10,753,859 | | |
| 568,427 | | |
| 509,940 | |
| Sale of mining machines | |
| 15,254,872 | | |
| 192,162,144 | | |
| 219,782,989 | |
| Hosting services | |
| 3,339,426 | | |
| 6,247,292 | | |
| 482,186 | |
| Total revenues from contracts with customers | |
| 29,541,379 | | |
| 203,517,077 | | |
| 220,775,115 | |
| Other sources: block rewards | |
| 37,854,524 | | |
| 98,760,504 | | |
| 36,493,256 | |
| Total revenues | |
| 67,395,903 | | |
| 302,277,581 | | |
| 257,268,371 | |
|