SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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| Reconciliation of cash and restricted cash reported |
| | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | Cash | | $ | 12,783,933 | | $ | 13,300,188 | Restricted cash, current | | | 142,025 | | | — | Restricted cash, non-current | | | 142,025 | | | — | Total cash and restricted cash | | $ | 13,067,983 | | $ | 13,300,188 |
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| Schedule of concentrations of credit risk |
| | | | | | | | | | | | | | | | Energy Management Platform | | | | Revenue | | Accounts Receivable | | | | For the Three Months Ended | | For the Six Months Ended | | As of | | As of | | | | June 30, | | June 30, | | June 30, | | December 31, | | | | 2026 | | 2025 | | 2026 | | 2025 | | 2026 | | 2025 | | Customer A | | * | | * | | 29 | % | * | | * | | * | | Customer B | | 30 | % | * | | 17 | % | * | | 16 | % | * | | Customer C | | 12 | % | * | | 11 | % | * | | 22 | % | * | | Customer D | | 26 | % | * | | * | | * | | 13 | % | * | | Customer E | | * | | 26 | % | * | | 14 | % | * | | 46 | % | Customer F | | * | | * | | * | | * | | 18 | % | 17 | % | Customer G | | * | | 11 | % | * | | 13 | % | * | | 20 | % | Customer H | | * | | * | | * | | * | | 14 | % | * | | Customer I | | * | | 12 | % | * | | 13 | % | * | | * | | Customer J | | * | | * | | * | | 11 | % | * | | * | | Customer K | | * | | * | | * | | 11 | % | * | | * | | Total | | 68 | % | 49 | % | 57 | % | 62 | % | 83 | % | 83 | % |
| | | | | | | | | | | | | | | | Mining of Digital Assets | | | | Revenue | | Accounts Receivable | | | | For the Three Months Ended | | For the Six Months Ended | | As of | | As of | | | | June 30, | | June 30, | | June 30, | | December 31, | | | | 2026 | | 2025 | | 2026 | | 2025 | | 2026 | | 2025 | | Customer L | | 100 | % | 100 | % | 100 | % | 100 | % | N/A | | N/A | | Total | | 100 | % | 100 | % | 100 | % | 100 | % | N/A | | N/A | |
| | | | | | | | | | | | Energy Management Platform | | | | For the Three Months Ended | | For the Six Months Ended | | | | June 30, | | June 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | Vendor A | | 21 | % | * | | 20 | % | * | | Vendor B | | * | | * | | 12 | % | * | | Vendor C | | 10 | % | 10 | % | 10 | % | 13 | % | | | 31 | % | 10 | % | 42 | % | 13 | % |
| | | | | | | | | | | | Mining of Digital Assets | | | | For the Three Months Ended | | For the Six Months Ended | | | | June 30, | | June 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | Vendor A | | 63 | % | * | | 63 | % | * | | Vendor B | | 37 | % | * | | 37 | % | * | | Vendor C | | * | | 100 | % | * | | 100 | % | | | 100 | % | 100 | % | 100 | % | 100 | % |
*Less than 10%
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| Schedule of inventory |
| | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | Raw materials | | $ | 1,184,910 | | $ | 237,661 | Finished goods | | | 326,403 | | | 343,495 | Total inventory | | $ | 1,511,313 | | $ | 581,156 |
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| Schedule of revenue recognized |
| | | | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Revenue Recognized at a Point in Time: | | | | | | | | | | | | | Product sales | | $ | 650,163 | | $ | 1,978,066 | | $ | 2,783,401 | | $ | 3,138,625 | Contract services | | | 159,500 | | | 555,836 | | | 792,608 | | | 1,420,997 | Grant revenue | | | 468,952 | | | — | | | 937,188 | | | — | Total | | | 1,278,615 | | | 2,533,902 | | | 4,513,197 | | | 4,559,622 | Revenue Recognized Over Time: | | | | | | | | | | | | | Mining of digital assets | | | 605,982 | | | 1,118,569 | | | 1,268,293 | | | 1,368,323 | Contract services | | | 195,580 | | | — | | | 245,117 | | | 173,132 | Total Revenue | | $ | 2,080,177 | | $ | 3,652,471 | | $ | 6,026,607 | | $ | 6,101,077 |
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| Schedule of of basic and diluted net loss per share of common stock |
| | | | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Numerator: | | | | | | | | | | | | | Net Income (Loss) | | $ | (21,970,816) | | $ | 8,142,149 | | $ | (50,990,660) | | $ | (10,664,509) | | | | | | | | | | | | | | Denominator (weighted average quantities): | | | | | | | | | | | | | Common shares issued | | | 46,282,051 | | | 37,195,027 | | | 46,243,264 | | | 36,025,871 | Less: Treasury shares purchased | | | (21,922) | | | (21,922) | | | (21,922) | | | (21,019) | Less: Unvested restricted stock awards | | | (3,348) | | | (8,035) | | | (4,014) | | | (8,701) | Add: Accrued issuable equity | | | — | | | 14,946 | | | — | | | 13,874 | Add: Vested unissued restricted stock units | | | 46,875 | | | 93,750 | | | 57,752 | | | 93,750 | Denominator for basic net income (loss) per share | | | 46,303,656 | | | 37,273,766 | | | 46,275,080 | | | 36,103,775 | Denominator for diluted net income (loss) per share | | | 46,303,656 | | | 37,590,336 | | | 46,275,080 | | | 36,103,775 | | | | | | | | | | | | | | Net Income (Loss) Per Share | | | | | | | | | | | | | Basic | | $ | (0.47) | | $ | 0.22 | | $ | (1.10) | | $ | (0.30) | Diluted | | $ | (0.47) | | $ | 0.22 | | $ | (1.10) | | $ | (0.30) |
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| Schedule of shares were excluded from the calculation of weighted average dilutive shares of common stock because their inclusion would have been anti-dilutive |
| | | | | | | For the Three and Six | | For the Six | | | Months Ended | | Months Ended | | | June 30, 2026 | | June 30, 2025 | Unvested restricted stock awards | | 3,125 | | 7,812 | Unvested restricted stock units | | 1,339,959 | | 1,170,065 | Options | | 25,000 | | 33,937 | Warrants | | — | | 88,905 | Total | | 1,368,084 | | 1,300,719 |
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