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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Blockchain infrastructure revenues $ 2,772,198 $ 561,192 $ 4,461,133 $ 1,012,578
Total revenues 2,772,198 561,192 4,461,133 1,012,578
Cost of revenues        
Blockchain infrastructure costs 2,853,133 168,848 4,421,792 329,473
Gross profit (80,935) 392,344 39,341 683,105
Operating expenses:        
General and administrative 659,645 538,956 1,218,033 1,026,555
Compensation and related expenses 793,400 875,491 1,481,602 1,331,270
Research and development 193,543 163,777 402,794 310,326
Marketing 22,861 28,477 268,033 86,079
Realized (gains) losses on crypto asset transactions 2,777,620 (287,327) 4,159,908 (298,014)
Total operating expenses 4,447,069 1,319,374 7,530,370 2,456,216
Other income (expenses):        
Interest income 3,569 3,569
Interest expense (221,894) (221,894)
Change in unrealized appreciation (depreciation) of crypto assets 8,793,161 (5,943,339) (5,737,661) 7,159,328
Change in fair value of warrant liabilities (165,300) 142,500 59,850 142,500
Total other income (expenses) 8,409,536 (5,800,839) (5,896,136) 7,301,828
Net income (loss) $ 3,881,532 $ (6,727,869) $ (13,387,165) $ 5,528,717
Net income (loss) per share attributable to common stockholders        
Basic $ 0.18 $ (0.43) $ (0.65) $ 0.35
Diluted $ 0.14 $ (0.43) $ (0.65) $ 0.28
Weighted-average shares of common stock used to compute net income per share:        
Basic 21,259,682 15,758,157 20,616,935 15,724,917
Diluted 27,938,660 15,758,157 20,616,935 19,447,348