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 shares	2,677
Issuance of replacement awards and warrants	96
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
Bitcoin	7
Accounts receivable	400
Property and equipment	5,046
Operating lease right-of-use asset	1,342
Identifiable intangible assets - customer related	525
Other assets	3,223
Total identifiable assets acquired	10,993
Accounts payable and accrued liabilities	2,532
Deferred tax liabilities	760
Operating lease liabilities	1,333
Other liabilities	2,307
Total identifiable liabilities assumed	6,932
Net identifiable assets acquired	4,061
Goodwill	3,282
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,
	2026		2025		2026		2025
Revenue	$	3,591	$	6,727	$	7,250	$	14,041
Net (loss) income from continuing operations	$	(12,540)	$	545	$	(17,548)	$	(12,245)