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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE:        
Total revenue $ 12,861,000 $ 13,057,000 $ 32,103,000 $ 32,390,000
OPERATING COSTS AND EXPENSES:        
Selling, general and administrative 3,106,000 4,240,000 5,882,000 9,633,000
Depreciation 3,179,000 3,285,000 6,310,000 6,519,000
Impairment of long-lived assets 0 0 0 169,000
Loss (gain) on digital assets (2,098,000) 11,000 (1,110,000) (48,000)
Loss (gain) on sale of assets 218,000 (32,000) 355,000 (32,000)
Gain on insurance proceeds 0 0 (399,000) 0
Total operating costs and expenses 16,256,000 16,820,000 37,887,000 37,875,000
Operating loss (3,395,000) (3,763,000) (5,784,000) (5,485,000)
OTHER INCOME (EXPENSE), NET:        
Interest expense, net (758,000) (1,805,000) (3,613,000) (3,607,000)
Change in fair value of warrant asset 0 0 0 (420,000)
Loss on liquidation of subsidiary 0 0 (348,000) 0
Other income, net 1,000 0 19,000 0
Total other expense, net (757,000) (1,805,000) (3,942,000) (4,027,000)
Loss from operations before income taxes (4,152,000) (5,568,000) (9,726,000) (9,512,000)
Benefit from income taxes (34,000) 0 (44,000) 0
Net loss (4,118,000) (5,568,000) (9,682,000) (9,512,000)
Comprehensive Loss        
Net loss (4,118,000) (5,568,000) (9,682,000) (9,512,000)
Foreign currency translation adjustment 0 0 0 (3,000)
Reclassification of foreign currency translation adjustment realized upon liquidation of foreign subsidiary 0 0 348,000 0
Comprehensive loss $ (4,118,000) $ (5,568,000) $ (9,334,000) $ (9,515,000)
Net loss per share, basic and diluted:        
Net loss per share, basic (in dollars per share) $ (0.27) $ (0.56) $ (0.66) $ (0.98)
Net loss per share, diluted (in dollars per share) $ (0.27) $ (0.56) $ (0.66) $ (0.98)
Weighted average shares outstanding, basic (in shares) 15,246,000 9,966,000 14,596,000 9,730,000
Weighted average shares outstanding, diluted (in shares) 15,246,000 9,966,000 14,596,000 9,730,000
Datacenter hosting        
REVENUE:        
Total revenue $ 6,036,000 $ 6,795,000 $ 11,865,000 $ 16,092,000
OPERATING COSTS AND EXPENSES:        
Cost of revenue 6,577,000 4,785,000 12,768,000 11,886,000
Cryptocurrency mining        
REVENUE:        
Total revenue 4,235,000 4,775,000 8,461,000 11,774,000
OPERATING COSTS AND EXPENSES:        
Cost of revenue 2,963,000 3,234,000 6,045,000 6,905,000
Power and capacity        
REVENUE:        
Total revenue 2,590,000 1,487,000 11,777,000 4,524,000
OPERATING COSTS AND EXPENSES:        
Cost of revenue $ 2,311,000 $ 1,297,000 $ 8,036,000 $ 2,843,000