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Income Tax Expenses | 3 Months Ended
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Mar. 31, 2026
Income Tax Expenses [Abstract] |
INCOME TAX EXPENSES | NOTE 12 – INCOME TAX EXPENSES Next Technology Holding Inc. in Wyoming is subject to U.S. federal income tax at 21% and a state income tax rate of nil. The Company owns a subsidiary incorporated in Hong Kong and are subject to Hong Kong profits tax at a tax rate of 16.5%. The Company owns another subsidiary incorporated in the British Virgin Islands (BVI). Under the current tax laws of BVI, the subsidiary’s income tax rate is nil. The current and deferred portions of income tax expense included in the consolidated statements of comprehensive loss are as follows:
|  | For the Three Months ended March 31, |
|  | 2026 |  |  | 2025 |
Current income tax expense |  | $ | - |  |  | $ | - |
Deferred income tax (benefit) expense |  |  | (27,294,512 | ) |  |  | 51,420,873 |
Total |  | $ | (27,294,512 | ) |  | $ | 51,420,873 |
The (loss) income before income tax for domestic and foreign component’s were as follows:
|  | For the Three Months ended March 31, |
|  | 2026 |  |  | 2025 |
US |  | $ | (133,146,243 | ) |  | $ | 244,861,298 |
Hongkong and BVI |  |  | - |  |  |  | - |
Total |  | $ | (133,146,243 | ) |  | $ | 244,861,298 |
For the three months ended March 31, 2026 and 2025, the Company paid nil for income expense. The following table reconciles the statutory rate to the Company’s effective tax rate. The effective tax rate reconciliation is based on the U.S. federal statutory rate of 21% and State income tax rate of nil.
|  | For the Three Months ended March 31, |
|  | 2026 |  |  | 2025 |
US Statutory income tax rates |  |  | 21.0 | % |  |  | 21.0 | %
Share-based compensation expense |  |  | (0.5 | )% |  |  | - | %
Effective income tax rate |  |  | 20.5 | % |  |  | 21.0 | %
The principal components of deferred tax assets and deferred tax liabilities are as follows:
|  | As of March 31, 2026 |  |  | As of December 31, 2025 |
Deferred tax liabilities |  |  |  |  |  |
Fair value gain of Bitcoin |  | $ | 43,379,426 |  |  | $ | 69,946,762 |
Less: Net operating loss carry forward |  |  | (6,057,596 | ) |  |  | (5,330,420 | )
Total deferred tax liabilities |  | $ | 37,321,830 |  |  | $ | 64,616,342 |
As of March 31, 2026 and December 31, 2025, the Company had net operating loss carry forwards (“NOLs”) of $28.8 million and $25.4 million for U.S. federal income tax purposes. The federal NOLs do not expire but are subject to an annual deduction limit of 80% of taxable income.

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