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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes [Abstract]

Schedule of Expense or (Benefit) for Income Taxes

The income tax (benefit)/expense attributable to loss consisted of the following, for the year ended December 31,:

		2024			2023
Current provision for income taxes:
Federal		$	—		$	(176,000	)
State			—			—
Total current income tax			—			(176,000	)
Deferred tax expense:
Federal			—			—
State			—			—
Total deferred tax			—			—
Total income tax		$	—		$	(176,000	)

Schedule of Statutory Federal Income Tax Rate to Actual Expense Based on Loss Before Income Taxes

A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

		2024			2023
Taxes calculated at federal rate		21.0	%		21.0	%
Permanent differences		(0.5	)		—
State tax, net of federal impact		3.9			3.2
Return to provision		—			(0.7	)
Other		(2.9	)		—
Change in valuation allowance		(21.5	)		(23.0	)
Provision for income taxes		0.0	%		0.5	%

Shedule of Deferred Income Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets at December 31, are presented below:

		2024				2023
Deferred tax assets
Net operating loss carryforwards		$	9,436,000			$	10,002,000
Stock based compensation			4,203,000				4,019,000
Accrued Expenses			252,000				208,000
Mining equipment			1,825,000				251,000
Digital asset Impairment			335,000				842,000
Total deferred tax assets			16,051,000				15,322,000
Deferred tax liability
Mining equipment			—
Change in FV of Derivative			—				(3,546,000	)
Total deferred tax liability			—				(3,546,000	)
Net deferred tax assets			16,051,000				11,776,000
Valuation allowance			(16,051,000	)			(11,776,000	)
Net deferred tax		$	—			$	—

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-Topic 740
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-Section 50
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