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Debt (Tables) | 9 Months Ended
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Sep. 30, 2025
Short-Term Debt [Line Items] |
Schedule of Total Debt Outstanding | The following table represents total debt outstanding by agreement as of September 30, 2025: Schedule of Total Debt Outstanding
(Dollars in thousands): |  | Current portion of debt |  |  | Long term debt |  |  | Total |
NYDIG financing |  | $ | - |  |  | $ | - |  |  | $ | - |
Green Cloud secured note |  |  | 3,487 |  |  |  | 4,589 |  |  |  | 8,076 |
Equipment loan |  |  | - |  |  |  | - |  |  |  | - |
Galaxy loan |  |  | 636 |  |  |  | 3,756 |  |  |  | 4,392 |
Generate credit agreement |  |  | 5,876 |  |  |  | 4,909 |  |  |  | 10,785 |
Total Debt |  | $ | 9,999 |  |  | $ | 13,254 |  |  | $ | 23,253 |
The following table represents total debt outstanding by agreement as of December 31, 2024:
(Dollars in thousands): |  | Current portion of debt |  |  | Long term debt |  |  | Total |
Convertible Notes |  | $ | - |  |  | $ | - |  |  | $ | - |
NYDIG financing |  |  | 9,183 |  |  |  | - |  |  |  | 9,183 |
Navitas term loan |  |  | 137 |  |  |  | - |  |  |  | 137 |
June 2024 secured note |  |  | 3,922 |  |  |  | 7,061 |  |  |  | 10,983 |
July 2024 additional secured note |  |  | 1,202 |  |  |  | - |  |  |  | 1,202 |
Total Debt |  | $ | 14,444 |  |  | $ | 7,061 |  |  | $ | 21,505 |
Schedule of Financing Debt | NYDIG Financing Schedule of Financing Debt
(Dollars in thousands) |  | Maturity Dates |  | Interest Rate |  | January 1, 2025- September 30, 2025 |  |  | January 1, 2024- December 31, 2024 |
NYDIG Loans #1-11 |  | April 25, 2023 thru January 25, 2027* |  | 14% thru 16% |  | $ | 9,183 |  |  | $ | 9,183 |
Less: repossession of collateralized assets |  |  |  |  |  |  | — |  |  |  | — |
Gain on settlement of debt |  |  |  |  |  |  | (9,183 | ) |  |  | — |
Total outstanding debt |  |  |  |  |  | $ | — |  |  | $ | 9,183 |
* |  | Due to an event of default- the entire NYDIG ABL LLC (“NYDIG”) financing became current, see note below.
Schedule of Secured Note Financing | Green Cloud secured note Schedule of Secured Note Financing
(Dollars in thousands) |  | Maturity Date |  | Interest Rate |  |  | January 1, 2025- September 30, 2025 |  |  | June 20, 2024- December 31, 2024 |
Term Loan and capitalized interest (excludes debt issuance cost) |  | June 20, 2027 |  |  | 9 | % |  | $ | 11,748 |  |  | $ | 12,784 |
Less: principal and capitalized interest payments |  |  |  |  |  |  |  |  | (3,252 | ) |  |  | (1,036 | )
Less: debt discount |  |  |  |  |  |  |  |  | (126 | ) |  |  | (230 | )
Less: debt issuance costs |  |  |  |  |  |  |  |  | (294 | ) |  |  | (535 | )
Total outstanding note |  |  |  |  |  |  |  |  | 8,076 |  |  |  | 10,983 |
(Less) Current note outstanding |  |  |  |  |  |  |  |  | 3,487 |  |  |  | 3,922 |
Long-term note outstanding |  |  |  |  |  |  |  | $ | 4,589 |  |  | $ | 7,061 |
Schedule of Additional Secured Note Financing | July 2024 Additional Secured Note Schedule of Additional Secured Note Financing
(Dollars in thousands) |  | Maturity Date |  | Interest Rate |  |  | January 1, 2025- September 30, 2025 |  |  | July 12, 2024- December 31, 2024 |
Term Loan and capitalized interest (excludes debt issuance cost) |  | July 12, 2027* |  |  | 9 | % |  | $ | 1,209 |  |  | $ | 1,278 |
Less: principal and capitalized interest payments |  |  |  |  |  |  |  |  | (658 | ) |  |  | (69 | )
Debt discount |  |  |  |  |  |  |  |  | - |  |  |  | (7 | )
Gain on extinguishment |  |  |  |  |  |  |  |  | (551 | ) |  |  | - |
Total outstanding debt |  |  |  |  |  |  |  | $ | - |  |  | $ | 1,202 |
* | On March 14, 2025, the Company satisfied the assignment and assumption agreement, as such a gain on extinguishment was recorded.
Schedule of Generate Credit Agreement | Generate Credit Agreement Schedule of Generate Credit Agreement
(Dollars in thousands) |  | Maturity Date |  | Interest Rate |  |  | September 12, 2025 – September 30, 2025 |
Tranche A-1 |  | September 12, 2030 |  |  | 14.24 | % |  | $ | 5,500 |
Tranche A-3 |  |  |  |  |  |  |  |  | 7,124 |
Total drawn loan |  |  |  |  |  |  |  |  | 12,624 |
Less: principal payments |  |  |  |  |  |  |  |  | - |
Less: debt discount and issuance costs |  |  |  |  |  |  |  |  | (1,839 | )
Total outstanding note |  |  |  |  |  |  |  |  | 10,785 |
(Less) Current note outstanding |  |  |  |  |  |  |  |  | 5,876 |
Long-term note outstanding |  |  |  |  |  |  |  | $ | 4,909 |
Schedule of Fair Value Assumptions used for Generate Warrants Issued or Revalued | The following table represents the significant fair value assumptions used for the Generate Warrants issued or revalued during the quarter September 30, 2025. Schedule of Fair Value Assumptions used for Generate Warrants Issued or Revalued
|  | Three and Nine Months ended September 30, 2025 |
Stock price |  | $ | 0.72-2.75 |
Exercise price |  | $ | 0.0001- 1.18 |
Expected term in years |  |  | 4.95 – 5.00 |
Expected dividend yield |  |  | 0.00 | %
Volatility |  |  | 130.00 | %
Risk-free interest rate |  |  | 3.63- 3.76 | %
Schedule of Navitas Term Loan | Navitas Term Loan Schedule of Navitas Term Loan
(Dollars in thousands) |  | Maturity Date |  | Interest Rate |  |  | January 1, 2025- September 30, 2025 |  |  | January 1, 2024- December 31, 2024 |
Term Loan and capitalized interest (excludes debt issuance cost) |  | May 9, 2025* |  |  | 15 | % |  | $ | 137 |  |  | $ | 1,707 |
Less: principal and capitalized interest payments |  |  |  |  |  |  |  |  | (137 | ) |  |  | (1,570 | )
Total outstanding debt |  |  |  |  |  |  |  | $ | - |  |  | $ | 137 |
* | May 9, 2025 was the maturity date, however, as noted below, the Navitas loan was fully paid off in the first quarter of 2025, and as such no longer remains outstanding.
Schedule of Fair value of Convertible Debt | Schedule of Fair value of Convertible Debt
(in thousands) |  |  |
Balance January 1, 2024 |  | $ | 8,474 |
Conversions of debt (January 1, 2024- June 30, 2024) |  |  | (3,712 | )
Extension fee |  |  | 325 |
Total revaluation losses and extinguishment of debt, net (January 1, 2024- June 30, 2024) |  |  | 2,765 |
Balance June 30, 2024 |  |  | 7,852 |
Conversions of debt (July 1, 2024 – September 30, 2024) |  |  | (2,166 | )
Revaluation gains and extinguishment of debt, net (July 1, 2024 – September 30, 2024) |  |  | (2,316 | )
Balance September 30, 2024 |  |  | 3,370 |
Conversions of debt (October 1, 2024- December 31, 2024) |  |  | (3,123 | )
Revaluation gains and extinguishment of debt, net (October 1, 2024- December 31, 2024) |  |  | (247 | )
Balance December 31, 2024 |  | $ | - |
Schedule of Fair Value Assumptions For Convertible Notes | The following table represents the significant and subjective fair value assumptions used for Convertible Notes during the year ended December 31, 2024. As the Convertible Notes were fully converted in fiscal year 2024, no assumptions were noted for the three and nine months ended September 30, 2025. Schedule of Fair Value Assumptions For Convertible Notes
|  |  | Year Ended December 31, 2024 |
Stock price |  | $ | 2.88 – 6.09 |
Conversion price |  | $ | 2.30 – 3.78 |
Volatility |  |  | 80.0 – 115 | %
Risk-free interest rate |  |  | 4.73- 5.46 | %
Schedule of Fair Value Assumptions For Warrants Issued | The following table represents the significant fair value assumptions used for warrants issued or repriced during the year ended December 31, 2024. No warrants were issued or repriced for the three and nine months ended September 30, 2025 in relation to the warrants issued in conjunction with convertible notes. Schedule of Fair Value Assumptions For Warrants Issued
|  | Year ended December 31, 2024 |
Stock price |  | $ | 2.43- 4.07 |
Exercise price |  | $ | 0.01- 287.50 |
Expected term in years |  |  | 0.53 – 8.77 |
Expected dividend yield |  |  | 0.00 | %
Volatility |  |  | 105.0 – 137.50 | %
Risk-free interest rate |  |  | 3.51- 4.44 | %
Galaxy Loan [Member] |
Short-Term Debt [Line Items] |
Schedule of Galaxy Loan | Galaxy Loan Schedule of Galaxy Loan
(Dollars in thousands) |  | Maturity Date |  | Interest Rate |  |  | March 12, 2025 – September 30, 2025 |
Term Loan |  | March 12, 2030 |  |  | 15 | % |  | $ | 5,000 |
Less: principal payments |  |  |  |  |  |  |  |  | (250 | )
Less: debt discount and issuance costs |  |  |  |  |  |  |  |  | (358 | )
Total outstanding note |  |  |  |  |  |  |  |  | 4,392 |
(Less) Current note outstanding |  |  |  |  |  |  |  |  | 636 |
Long-term note outstanding |  |  |  |  |  |  |  | $ | 3,756 |

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