XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Net Cash flows used from operating activities:    
Net income $ 5,528,717 $ 3,787,420
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation expense 2,990 2,318
Stock-based compensation 1,178,084 789,453
Blockchain infrastructure revenue (1,012,578) (697,261)
Builder payments (non-cash) 158,112
Change in fair value of warrant liabilities (142,500) 142,500
Realized gains on crypto assets transactions (298,014) 560,477
Change in unrealized (appreciation) depreciation on crypto assets (7,159,328) (6,648,240)
Changes in operating assets and liabilities:    
Stablecoins 6,247
Prepaid expenses and other current assets (118,458) (51,668)
Receivable for capital shares sold 291,440
Accounts payable and accrued expenses 75,792 111,417
Accrued compensation (203,603) (41,940)
Net cash used in operating activities (1,693,099) (2,045,524)
Cash flows from investing activities:    
Purchase of productive crypto assets for validating (19,212) (1,804,213)
Sale of productive crypto assets 550,361 1,719,871
Net cash provided by (used in) investing activities 531,149 (84,342)
Cash flow from financing activities:    
Net proceeds from issuance common stock/ At-the-market offering 240,305 926,501
Net cash provided by financing activities 240,305 926,501
Net (decrease)/increase in cash (921,645) (1,203,365)
Cash, beginning of period 1,458,327 2,146,783
Cash, end of period 536,682 943,418
Supplemental disclosure of non-cash financing and investing activities:    
Series V Preferred Stock Distribution $ 2,559,533