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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Blockchain infrastructure revenues (net of fees) $ 561,192 $ 385,753 $ 1,012,578 $ 697,261
Total revenues 561,192 385,753 1,012,578 697,261
Cost of revenues        
Blockchain infrastructure costs 168,848 113,612 329,473 195,626
Gross profit 392,344 272,141 683,105 501,635
Operating expenses:        
General and administrative 538,956 617,569 1,026,555 1,227,398
Research and development 163,777 180,903 310,326 382,528
Compensation and related expenses 875,491 578,496 1,331,270 1,040,586
Marketing 28,477 2,723 86,079 8,966
Realized (gains) losses on crypto asset transactions (287,327) 568,031 (298,014) 560,477
Total operating expenses 1,319,374 1,947,722 2,456,216 3,219,955
Other income (expenses):        
Change in unrealized appreciation (depreciation) on crypto assets (5,943,339) 355,033 7,159,328 6,648,240
Change in fair value of warrant liabilities 142,500 142,500 142,500 (142,500)
Total other income (expenses) (5,800,839) 497,533 7,301,828 6,505,740
Net income (loss) $ (6,727,869) $ (1,178,048) $ 5,528,717 $ 3,787,420
Basic net income (loss) per share attributable to common stockholders $ (0.43) $ (0.08) $ 0.35 $ 0.27
Diluted net income (loss) per share attributable to common stockholders $ (0.43) $ (0.08) $ 0.28 $ 0.22
Basic weighted average number of common shares outstanding 15,758,157 13,873,331 15,724,917 13,773,782
Diluted weighted average number of common shares outstanding, basic and diluted 15,758,157 13,873,331 19,447,348 17,263,427