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Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES

NOTE 5 – LEASES

 

The Company’s operating leases are for digital asset mining sites and its finance leases are primarily for related plant and equipment.

  

The Company’s lease costs recognized in the consolidated condensed statements of operations consist of the following:

 

   For the three-months ended
June 30,		   For the six-months ended
June 30,		 
   2025   2024   2025   2024 
Operating lease charges (1)  $418,457   $393,314   $863,892   $791,208 
Finance lease charges:                    
Amortization of right-of-use assets  $102,797   $39,695   $205,594   $47,838 
Interest on lease obligations  $15,201   $10,191   $33,275   $11,698 

 

(1)Included in selling, general, and administrative expenses.

 

The following is a schedule of the Company’s lease liabilities by contractual maturity as of June 30, 2025:

 

   Operating
leases		   Finance
leases		 
         
2025  $774,161   $206,588 
2026   1,586,044    216,266 
2027   1,270,570    
-
 
Total undiscounted lease obligations   3,630,775    422,854 
Less: imputed interest   (530,101)   (29,694)
Total present value of lease liabilities   3,100,674    393,160 
Less: current portion of lease liabilities   1,281,944    388,447 
Non-current lease liabilities  $1,818,730   $4,713 

 

Other lease information as of and for the period ended June 30, 2025:

 

   Operating
leases		   Finance
leases		 
         
Operating cash out flows from leases  $904,399   $206,589 
Weighted-average remaining lease term (years)   2.18    0.85 
Weighted-average discount rate (%)   13.80%   13.50%