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Share-Based Compensation Expense
9 Months Ended
Sep. 30, 2025
Share-Based Compensation Expense [Abstract]  
SHARE-BASED COMPENSATION EXPENSE

NOTE 12 –SHARE-BASED COMPENSATION EXPENSE

 

For the nine months ended September 30, 2025 and 2024, total share-based compensation expenses recognized were US$44.37 million and nil, respectively.

 

On April 24, 2025, the board of directors approved the 2025 Equity Incentive Plan, which was subsequently approved by the Company's shareholders at the annual meeting held on June 20, 2025. On July 3, 2025, the Company registered 80 million shares of common stock with the Securities and Exchange Commission for issuance under the 2025 Equity Incentive Plan. The registration statement became effective upon filing.

 

These shares are reserved for future issuance to employees, directors, consultants, and other eligible service providers under the terms of the 2025 Equity Incentive Plan. As of the date of this report, the Company has granted awards representing 70 million shares of common stock under the 2025 Equity Incentive Plan.

 

On July 8, 2025, the Company granted 18,000,000 fully vested and immediately exercisable stock awards under the 2025 Equity Incentive Plan to certain advisors in recognition of their significant contributions to the acquisition of 5,000 BTC. Consistent with the accounting policy under Accounting Standards Codification Topic 718 for awards with no future service requirements, the Company recognized the total share-based compensation expense of $42,840,000 in full upon the grant date.

 

In July 2025, the Company purchased advisory services and granted 2,000,000 fully vested and immediately exercisable shares of common stock under the 2025 Equity Incentive Plan as compensation, and in August 2025, the Company granted an additional 50,000,000 shares of common stock under the 2025 Equity Incentive Plan, which are subject to a four-year service-based vesting period. In accordance with Accounting Standards Codification Topic 718, the total share-based compensation expense is being recognized over the respective service periods. For the nine months ended September 30, 2025, the Company recognized $1,527,409 of share-based compensation expense related to these awards.

 

All the award is subject to the Company’s Clawback Policy, which allows recovery of shares in cases of financial restatements or misconduct.