v3.26.1
Acquisition (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination
The total purchase consideration for the acquisition consisted of 2,405,300 common shares and 1,387,117 Series I preferred shares with a fair value as follows (in thousands):
Common shares$4,570 
Preferred shares2,677 
Issuance of replacement awards and warrants96 
Total purchase consideration$7,343 
The following table summarizes the preliminary purchase price allocation based on the estimated fair values of assets acquired and liabilities assumed as of June 1, 2026 (in thousands):
Cash and cash equivalents$450 
Bitcoin7 
Accounts receivable400 
Property and equipment5,046 
Operating lease right-of-use asset1,342 
Identifiable intangible assets - customer related525 
Other assets3,223 
Total identifiable assets acquired10,993 
Accounts payable and accrued liabilities2,532 
Deferred tax liabilities760 
Operating lease liabilities1,333 
Other liabilities2,307 
Total identifiable liabilities assumed6,932 
Net identifiable assets acquired4,061 
Goodwill3,282 
Total purchase consideration$7,343 
Business Combination, Pro Forma Information
The following unaudited pro forma financial information reflects the acquisition as if it had occurred on January 1, 2025, and includes pro forma adjustments to the Company’s historical financial statements for the indicated periods (in thousands):
Three Months
Ended June 30,		Six Months
Ended June 30,
2026202520262025
Revenue$3,591 $6,727 $7,250 $14,041 
Net (loss) income from continuing operations$(12,540)$545 $(17,548)$(12,245)