HYPERSCALE DATA, INC., 10-Q filed on 18 May 26
 | XBRL Documents
v3.26.1
Cover - shares
 3 Months Ended
Mar. 31, 2026
May 15, 2026
Document Type 10-Q  
Amendment Flag false  
Document Quarterly Report true  
Document Transition Report false  
Document Period End Date Mar. 31, 2026  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2026  
Current Fiscal Year End Date --12-31  
Entity File Number 1-12711  
Entity Registrant Name HYPERSCALE DATA, INC.  
Entity Central Index Key 0000896493  
Entity Tax Identification Number 94-1721931  
Entity Incorporation, State or Country Code DE  
Entity Address, Address Line One 11411 Southern Highlands Parkway  
Entity Address, Address Line Two Suite 190  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 89141  
City Area Code 949  
Local Phone Number 444-5464  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Class A Common Stock, $0.001 par value    
Title of 12(b) Security Class A Common Stock, $0.001 par value  
Trading Symbol GPUS  
Security Exchange Name NYSEAMER  
13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share    
Title of 12(b) Security 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share  
Trading Symbol GPUS PD  
Security Exchange Name NYSEAMER  
Common Class A [Member]    
Entity Common Stock, Shares Outstanding   461,457,281
Common Class B [Member]    
Entity Common Stock, Shares Outstanding   23,959,244
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 10,548,000 $ 13,076,000
Restricted cash 25,749,000 36,150,000
Accounts receivable, net 17,034,000 14,548,000
Inventories 5,158,000 4,812,000
Loans receivable, current 2,282,000 187,000
Crypto assets 26,251,000 46,197,000
Prepaid expenses and other current assets 16,277,000 14,732,000
TOTAL CURRENT ASSETS 103,299,000 129,702,000
Crypto assets, restricted 16,666,000
Intangible assets, net 13,417,000 13,673,000
Goodwill 10,108,000 10,326,000
Property and equipment, net 147,050,000 141,988,000
Right-of-use assets 7,677,000 6,651,000
Investments in common stock and equity securities, related party 9,000 15,000
Investments in other equity securities 14,275,000 4,108,000
Other assets 7,059,000 7,244,000
TOTAL ASSETS 319,560,000 313,707,000
CURRENT LIABILITIES    
Accounts payable and accrued expenses 60,602,000 39,207,000
Operating lease liability, current 1,974,000 1,776,000
Notes payable, current 88,772,000 82,055,000
Notes payable, related party, current 901,000 1,686,000
Convertible notes payable 4,899,000 6,750,000
Guarantee liability 38,900,000 38,900,000
TOTAL CURRENT LIABILITIES 196,048,000 170,374,000
LONG-TERM LIABILITIES    
Operating lease liability, non-current 6,081,000 5,198,000
Notes payable, non-current 2,366,000 1,066,000
Convertible notes payable, non-current 8,471,000 7,843,000
Other long-term liabilities 3,687,000 3,369,000
TOTAL LIABILITIES 216,653,000 187,850,000
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.001 par value - 25,000,000 shares authorized; 2,301,686 and 2,299,188 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively (liquidation preference of $90,088,000 as of March 31, 2026) 2,000 2,000
Additional paid-in capital 863,607,000 853,156,000
Accumulated deficit (767,016,000) (734,560,000)
Accumulated other comprehensive income 6,000 812,000
TOTAL HYPERSCALE DATA STOCKHOLDERS’ EQUITY 96,993,000 119,757,000
Non-controlling interest 5,914,000 6,100,000
TOTAL STOCKHOLDERS’ EQUITY 102,907,000 125,857,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 319,560,000 313,707,000
Common Class A [Member]    
STOCKHOLDERS’ EQUITY    
Common Stock, value 370,000 323,000
Common Class B [Member]    
STOCKHOLDERS’ EQUITY    
Common Stock, value $ 24,000 $ 24,000
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Preferred stock, par or stated value per share $ 0.001 $ 0.001
Preferred stock, shares authorized 25,000,000 25,000,000
Preferred stock, shares issued 2,301,686 2,299,188
Preferred stock, shares outstanding 2,301,686 2,299,188
Preferred stock, liquidation preference, value $ 90,088,000 $ 90,025,000
Common Class A [Member]    
Common stock, par or stated value per share $ 0.001 $ 0.001
Common stock, shares authorized 500,000,000 500,000,000
Common stock, shares issued 370,193,806 323,405,790
Common stock, shares outstanding 370,193,806 323,405,790
Common Class B [Member]    
Common stock, par or stated value per share $ 0.001 $ 0.001
Common stock, shares authorized 25,000,000 25,000,000
Common stock, shares issued 24,153,493 24,386,850
Common stock, shares outstanding 24,153,493 24,386,850
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Total revenue $ 44,079,000 $ 25,021,000
Total cost of revenue 29,010,000 19,738,000
Gross profit 15,069,000 5,283,000
Operating expenses    
General and administrative 18,526,000 9,195,000
Selling and marketing 5,612,000 2,334,000
Research and development 4,800,000 129,000
Change in fair value of crypto assets 7,405,000 9,000
Total operating expenses 36,343,000 11,667,000
Loss from operations (21,274,000) (6,384,000)
Other (expense) income:    
Interest and other income 769,000 240,000
Interest expense (6,546,000) (3,839,000)
Change in fair value of crypto assets, restricted (4,682,000)
Gain (loss) on extinguishment of debt 489,000 (4,569,000)
Change in fair value of embedded derivative liabilities 1,324,000
Gain on deconsolidation of subsidiary 10,049,000
Loss on the sale of fixed assets (161,000)
Total other (expense) income, net (8,646,000) 1,720,000
Loss before income taxes (29,920,000) (4,664,000)
Income tax provision 216,000 59,000
Net loss (30,136,000) (4,723,000)
Net income attributable to non-controlling interest 186,000 518,000
Net loss attributable to Hyperscale Data (29,950,000) (4,205,000)
Preferred dividends (2,506,000) (1,966,000)
Net loss attributable to common stockholders $ (32,456,000) $ (6,171,000)
Basic net loss per common share $ (0.09) $ (0.98)
Diluted net loss per common share $ (0.09) $ (0.98)
Weighted average basic common shares outstanding 380,730,000 6,284,000
Weighted average diluted common shares outstanding 380,730,000 6,284,000
Comprehensive (loss) income    
Foreign currency translation adjustment $ (806,000) $ 6,000
Other comprehensive (loss) income (806,000) 6,000
Total comprehensive loss (33,262,000) (6,165,000)
Crane Operations [Member]    
Total revenue 11,001,000 13,769,000
Total cost of revenue 7,180,000 8,247,000
Revenue Defense Solutions [Member]    
Total revenue 10,182,000
Revenue Crypto Assets Mining [Member]    
Total revenue 5,077,000 5,198,000
Hotel and real estate operations [Member]    
Total revenue 3,856,000 3,665,000
Total cost of revenue 2,990,000 2,844,000
Lending and Trading Activities [Member]    
Total revenue 11,521,000 (28,000)
Total cost of revenue 1,944,000
Other [Member]    
Total revenue 2,442,000 2,417,000
Total cost of revenue 2,250,000 1,616,000
Costof Revenue Defense Solutions [Member]    
Total cost of revenue 7,036,000
Cost of Revenue Crypto Assets Mining [Member]    
Total cost of revenue $ 7,610,000 $ 7,031,000
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
Preferred Stock Series A [Member]
Preferred Stock Series B [Member]
Preferred Stock Series C [Member]
Preferred Stock Series D [Member]
Preferred Stock Series E [Member]
Preferred Stock Series F [Member]
Preferred Stock Series G [Member]
Preferred Stock Series H [Member]
Class A Common Stock [Member]
Class B Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Noncontrolling Interest [Member]
Treasury Stocks [Member]
Total
Beginning balance, value at Dec. 31, 2024   $ 1,000 $ 1,000   $ 1,000 $ 5,000 $ 668,817,000 $ (628,950,000) $ (668,000) $ (6,546,000) $ (30,571,000) $ 2,090,000
Beginning balance, shares at Dec. 31, 2024 7,040   50,000 323,835 649,998 998,577   1,259,893 4,998,597            
Issuance of Series G preferred stock, related party     544,000 544,000
Issuance of Series G preferred stock, related party, shares             860                  
Fair value of warrants issued in connection with Series G preferred stock, related party     316,000 316,000
Issuance of Series D preferred stock for cash     1,922,000 1,922,000
Issuance of Series D preferred stock for cash, shares       129,957                        
Class B common stock dividend    
Class B common stock dividend, shares                 2,873 (2,873)            
Stock-based compensation                     66,000 66,000
Issuance of Class A common stock for conversion of debt     417,000 417,000
Issuance of Class A common stock for conversion of debt, shares                 167,229              
Net loss attributable to Hyperscale Data     (4,205,000) (4,205,000)
Series A preferred dividends ($0.62 per share)     (4,000) (4,000)
Series C preferred dividends ($23.57 per share)     (1,179,000) (1,179,000)
Series D preferred dividends ($1.06 per share)     (413,000) (413,000)
Series E preferred dividends ($0.57 per share)     (370,000) (370,000)
Retirement of treasury stock     (30,571,000) 30,571,000
Foreign currency translation adjustments     6,000 6,000
Net loss attributable to non-controlling interest     (518,000) (518,000)
Deconsolidation of subsidiary     574,000 7,544,000 8,118,000
Ending balance, value at Mar. 31, 2025   $ 1,000 $ 1,000   $ 1,000 5,000 672,082,000 (665,692,000) (88,000) 480,000 6,790,000
Ending balance, shares at Mar. 31, 2025 7,040   50,000 453,792 649,998 998,577 860 1,429,995 4,995,724              
Beginning balance, value at Dec. 31, 2025 $ 1,000 $ 1,000 $ 323,000 $ 24,000 853,156,000 (734,560,000) 812,000 6,100,000 125,857,000
Beginning balance, shares at Dec. 31, 2025 7,040 3,000 50,000 585,613 649,998 998,577 960 4,000 323,405,790 24,386,850            
Issuance of Series D preferred stock for cash 53,000   53,000
Issuance of Series D preferred stock for cash, shares       2,498                        
Class B common stock converted into Class A common stock  
Class B common stock converted into Class A common stock, shares                 233,357 (233,357)            
Stock-based compensation 66,000   66,000
Issuance of Class A common stock for cash $ 47,000 10,598,000   10,645,000
Issuance of Class A common stock for cash, shares                 46,554,659              
Financing cost in connection with sales of Class A common stock (266,000)   (266,000)
Net loss attributable to Hyperscale Data (29,950,000)   (29,950,000)
Series A preferred dividends ($0.62 per share) (4,000)   (4,000)
Series B preferred dividends ($84.42 per share) (253,000)   (253,000)
Series C preferred dividends ($24.00 per share) (1,198,000)   (1,198,000)
Series D preferred dividends ($0.81 per share) (504,000)   (504,000)
Series E preferred dividends ($0.62 per share) (406,000)   (406,000)
Series G preferred dividends ($47.48 per share) (46,000)   (46,000)
Series H preferred dividends ($23.75 per share) (95,000)   (95,000)
Foreign currency translation adjustments (806,000)   (806,000)
Net loss attributable to non-controlling interest (186,000) (186,000)
Ending balance, value at Mar. 31, 2026 $ 1,000 $ 1,000 $ 370,000 $ 24,000 $ 863,607,000 $ (767,016,000) $ 6,000 $ 5,914,000 $ 102,907,000
Ending balance, shares at Mar. 31, 2026 7,040 3,000.00 50,000 588,111 649,998 998,577 960 4,000 370,193,806 24,153,493            
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (30,136,000) $ (4,723,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,375,000 5,201,000
Amortization of debt discount 1,595,000 1,105,000
Amortization of right-of-use assets 408,000 374,000
Stock-based compensation 67,000 67,000
Loss on the sale of fixed assets 161,000
Revenue, crypto assets mining (5,077,000) (5,198,000)
Proceeds from the sale of crypto assets 5,227,000
Change in fair value of crypto assets and crypto assets, restricted 12,087,000 9,000
Realized gains on non-marketable equity securities (1,422,000)
Change in fair value of embedded derivatives (1,324,000)
(Gain) loss on extinguishment of debt (489,000) 4,569,000
Gain on deconsolidation of subsidiary (10,049,000)
Other operating activities 355,000 (521,000)
Changes in operating assets and liabilities:    
Marketable equity securities 1,383,000 (5,000)
Accounts receivable (2,486,000) (3,021,000)
Inventories (346,000) 359,000
Prepaid expenses and other current assets (2,797,000) 665,000
Other assets 504,000 (31,000)
Accounts payable and accrued expenses 21,621,000 2,204,000
Lease liabilities (511,000) (352,000)
Net cash used in operating activities (193,000) (3,959,000)
Cash flows from investing activities:    
Purchase of property and equipment (10,566,000) (2,880,000)
Purchase of crypto assets (3,760,000)
Investments in loans receivable (2,871,000)
Collections on loans receivable 1,100,000
Investments in non-marketable equity securities (7,749,000)
Proceeds from the sale of property and equipment 1,008,000 158,000
Investment in notes receivable, related party (380,000)
Collections on notes receivable, related party 1,945,000
Other investing activities 2,000 (14,000)
Net cash used in investing activities (22,836,000) (1,171,000)
Cash flows from financing activities:    
Gross proceeds from sales of Class A common stock 10,645,000
Offering costs related to issuance of Class A common stock (266,000)
Proceeds from sales of Series D preferred stock 53,000 1,922,000
Proceeds from sales of Series G preferred stock and warrants, related party 860,000
Proceeds from notes payable 18,281,000 17,906,000
Payments on notes payable (14,270,000) (13,794,000)
Repayments of related party notes payable (1,685,000)
Proceeds from related party notes payable 900,000 36,000
Payments of preferred dividends (2,506,000) (1,966,000)
Proceeds from issuance of convertible notes 800,000
Payments on convertible notes (1,350,000) (250,000)
Net cash provided by financing activities 10,602,000 4,714,000
Effect of exchange rate changes on cash and cash equivalents (502,000) 6,000
Net decrease in cash and cash equivalents and restricted cash (12,929,000) (410,000)
Cash, cash equivalents and restricted cash at beginning of period 49,226,000 25,022,000
Cash, cash equivalents and restricted cash at end of period 36,297,000 24,612,000
Non-cash investing and financing activities:    
Settlement of accounts payable with crypto assets 29,000 8,000
Conversion of convertible notes payable into shares of Class A common stock 417,000
Conversion of debt and equity securities to marketable securities 2,774,000
Exchange of related party advances for investment in other equity securities, related party 1,800,000
Recognition of new operating lease right-of-use assets and lease liabilities $ 1,593,000 $ 935,000
Notes payable exchanged for convertible notes payable 9,103,000
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Insider Trading Arrangements [Line Items]  
Rule 10b5-1 Arrangement Adopted [Flag] false
Non-Rule 10b5-1 Arrangement Adopted [Flag] false
Rule 10b5-1 Arrangement Terminated [Flag] false
Non-Rule 10b5-1 Arrangement Terminated [Flag] false
v3.26.1
DESCRIPTION OF BUSINESS
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
DESCRIPTION OF BUSINESS

1. DESCRIPTION OF BUSINESS

 

Hyperscale Data, Inc. (“Hyperscale Data” or the “Company”) is a Delaware corporation whose principal operations consist of owning and operating data center infrastructure supporting digital asset mining operations. While the Company has completed initial deployments supporting high-density computing workloads for third-party customers, its current operations are primarily focused on Bitcoin mining and the accumulation of digital assets, primarily through its wholly owned subsidiary, Sentinum, Inc. (“Sentinum”), which operates facilities providing power and related infrastructure.

 

Through another of its wholly owned subsidiaries, Ault Capital Group, Inc. (“Ault Capital”), the Company holds a portfolio of diversified businesses and strategic investments spanning commercial lending and trading, hotel operations, crane rental, software platforms and commercial electronics. The Company anticipates completing the planned divestiture of Ault Capital in 2027, at which time it expects to operate as a more focused data center infrastructure-oriented business.

 

The Company has the following reportable segments:

 

·Sentinum – crypto asset mining operations, colocation and hosting services for emerging artificial intelligence (“AI”) ecosystems and other industries, and the Company’s digital asset treasury activities;

 

·Energy and Infrastructure (“Energy”) – crane operations;

 

·Gresham Worldwide, Inc. (“Gresham”) – defense solutions;

 

·Ault Global Real Estate Equities, Inc. (“AGREE”) – hotel operations and other commercial real estate holdings:

 

·TurnOnGreen, Inc. (“TurnOnGreen”) – commercial electronics;

 

·Technology and Finance (“Fintech”) – commercial lending, activist investing, and stock trading; and

 

·askROI, Inc. and RiskOn International, Inc. (“ROI”) – AI software platform.

 
v3.26.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Regulation S-X and do not include all the information and disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). The Company has made estimates and judgments affecting the amounts reported in the Company’s condensed consolidated financial statements and the accompanying notes. The actual results experienced by the Company may differ materially from the Company’s estimates. The condensed consolidated financial information is unaudited but reflects all normal adjustments that are, in the opinion of management, necessary to provide a fair statement of results for the interim periods presented.

 

These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2026. The condensed consolidated balance sheet as of December 31, 2025 was derived from the Company’s audited 2025 financial statements contained in the above referenced 2025 Annual Report. Results of operations for the three months ended March 31, 2026 are not necessarily indicative of results to be expected for future interim periods or the full year ending December 31, 2026.

 

Significant Accounting Policies

 

There have been no material changes to the Company’s significant accounting policies disclosed in the 2025 Annual Report.

 

Reclassifications

 

Certain prior period amounts have been reclassified for comparative purposes to conform to the current-period financial statement presentation.

 

Recent Accounting Pronouncements

 

The Company continually assesses any new accounting pronouncements to determine their applicability. When management determines that a new accounting pronouncement may affect the Company’s financial reporting, the Company undertakes an analysis to determine whether any required changes should be made to its condensed consolidated financial statements.

 

Recently Issued Standards

 

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 requires additional disclosures of certain expenses in the notes of the financial statements, to provide enhanced transparency into the expense captions presented on the consolidated statements of operations. The new standard is effective for the Company for its annual periods beginning January 1, 2027 and for interim periods beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard.

 

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 provides a practical expedient to assume current economic conditions will not change for the remaining life of an asset when preparing forecasts as part of estimating credit losses. The new standard is effective for the Company for its annual periods beginning January 1, 2026 and interim period within those annual periods, with early adoption permitted and should be applied on a prospective basis. The Company adopted ASC 2025-05 during the three months ended March 31, 2026, which did not have a material impact on its consolidated financial position, results of operations, or cash flows.

 

In January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2025-01”), to clarify the effective date of ASU 2024-03. The new standard is effective for the Company for its annual periods beginning January 1, 2027 and for interim periods beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-01; however, because the standard primarily affects disclosure requirements, the Company does not expect adoption to have a material impact on its consolidated financial position, results of operations, or cash flows.

 
v3.26.1
BUSINESS COMBINATION – GRESHAM
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
BUSINESS COMBINATION – GRESHAM

3. BUSINESS COMBINATION – GRESHAM

 

As disclosed in the 2025 Annual Report, the Company completed the acquisition and reconsolidation of Gresham on November 28, 2025. The preliminary allocation of purchase consideration to the acquired assets and assumed liabilities remains subject to finalization of certain valuation analyses, including inventory, property and equipment, intangible assets, income taxes, and other working capital items.

 

During the three months ended March 31, 2026, the Company recorded no material measurement period adjustments related to the acquisition. The Company does not currently expect material changes to the preliminary allocation; however, final amounts may differ from the preliminary estimates.

 
v3.26.1
REVENUE DISAGGREGATION
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE DISAGGREGATION

4. REVENUE DISAGGREGATION

 

The following tables summarize disaggregated customer contract revenues and the source of the revenue for the three months ended March 31, 2026 and 2025. Revenues from lending and trading activities included in consolidated revenues were primarily interest, dividend and other investment income, which are not considered to be revenues from contracts with customers under GAAP. Revenue is presented by reportable segment. The “Holding Co.” column includes revenue generated at the parent company level that is not allocated to a specific reportable segment. Although Holding Co. is not a separate reportable segment, it is presented below to reconcile segment revenues to total consolidated revenue.

 

The Company’s disaggregated revenues consisted of the following for the three months ended March 31, 2026:

                                             
   Gresham   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Primary Geographical Markets                                             
North America  $1,752,000   $1,524,000   $-   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $23,916,000 
Europe   1,630,000    -    -    -    -    -    -    -    1,630,000 
Middle East and other   6,800,000    212,000    -    -    -    -    -    -    7,012,000 
Revenue from contracts with customers   10,182,000    1,736,000    -    5,330,000    3,603,000    11,001,000    1,000    705,000    32,558,000 
Revenue, lending and trading activities (North America)   -    -    11,521,000    -    -    -    -    -    11,521,000 
Total revenue  $10,182,000   $1,736,000   $11,521,000   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $44,079,000 
                                              
Major Goods or Services                                             
Crane rental  $-   $-   $-   $-   $-   $11,001,000   $-   $-   $11,001,000 

Revenue from mined crypto assets at Sentinum

owned and operated facilities

   -    -    -    5,077,000    -    -    -    -    5,077,000 
Hotel and real estate operations   -    -    -    253,000    3,603,000    -    -    -    3,856,000 
Power supply units and systems   3,342,000    1,736,000    -    -    -    -    -    -    5,078,000 
Defense systems   6,065,000    -    -    -    -    -    -    -    6,065,000 
Other   775,000    -    -    -    -    -    1,000    705,000    1,481,000 
Revenue from contracts with customers   10,182,000    1,736,000    -    5,330,000    3,603,000    11,001,000    1,000    705,000    32,558,000 
Revenue, lending and trading activities   -    -    11,521,000    -    -    -    -    -    11,521,000 
Total revenue  $10,182,000   $1,736,000   $11,521,000   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $44,079,000 
                                              
Timing of Revenue Recognition                                             
Goods and services transferred at a point in time  $10,182,000   $1,714,000   $-   $5,330,000   $3,603,000   $-   $1,000   $705,000   $21,535,000 
Services transferred over time   -    22,000    -    -    -    11,001,000    -    -    11,023,000 
Revenue from contracts with customers  $10,182,000   $1,736,000   $-   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $32,558,000 

 

The Company’s disaggregated revenues consisted of the following for the three months ended March 31, 2025:

 

   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Primary Geographical Markets                                        
North America  $1,528,000   $-   $5,714,000   $3,149,000   $13,769,000   $(1,000)  $797,000   $24,956,000 
Europe   6,000    -    -    -    29,000    -    -    35,000 
Middle East and other   58,000    -    -    -    -    -    -    58,000 
Revenue from contracts with customers   1,592,000    -    5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,049,000 
Revenue, lending and trading activities (North America)   -    (28,000)   -    -    -    -    -    (28,000)
Total revenue  $1,592,000   $(28,000)  $5,714,000   $3,149,000   $13,798,000   $(1,000)  $797,000   $25,021,000 
                                         
Major Goods or Services                                        
Power supply units and systems  $1,592,000   $-   $-   $-   $-   $-   $-   $1,592,000 

Revenue from mined crypto assets at Sentinum

owned and operated facilities

   -    -    5,198,000    -    -    -    -    5,198,000 
Hotel and real estate operations   -    -    516,000    3,149,000    -    -    -    3,665,000 
Crane rental   -    -    -    -    13,769,000    -    -    13,769,000 
Other   -    -    -    -    29,000    (1,000)   797,000    825,000 
Revenue from contracts with customers   1,592,000    -    5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,049,000 
Revenue, lending and trading activities   -    (28,000)   -    -    -    -    -    (28,000)
Total revenue  $1,592,000   $(28,000)  $5,714,000   $3,149,000   $13,798,000   $(1,000)  $797,000   $25,021,000 
                                         
Timing of Revenue Recognition                                        
Goods and services transferred at a point in time  $1,592,000   $-   $5,714,000   $3,149,000   $29,000   $(1,000)  $797,000   $11,280,000 
Services transferred over time   -    -    -    -    13,769,000    -    -    13,769,000 
Revenue from contracts with customers  $1,592,000   $-   $5,714,000   $3,149,000   $13,798,000   $(1,000)  $797,000   $25,049,000 

 

 
v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS

5. FAIR VALUE OF FINANCIAL INSTRUMENTS

 

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy at March 31, 2026 and December 31, 2025:

                
   Fair Value Measurement at March 31, 2026 
   Total   Level 1   Level 2   Level 3 
Investments in other equity securities - embedded conversion feature  $

2,913,000

   $-   $-   $

2,913,000

 
Investments in other equity securities - warrants  $

285,000

   $-   $-   $

285,000

 
Embedded conversion feature liabilities  $252,000   $-   $-   $252,000 

 

   Fair Value Measurement at December 31, 2025 
   Total   Level 1   Level 2   Level 3 
Embedded conversion feature liabilities  $1,576,000   $-   $-   $1,576,000 

 

The Company assesses the inputs used to measure fair value using the three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market. For investments where little or no public market exists, management’s determination of fair value is based on the best available information, which may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration various factors including earnings history, financial condition, recent sales prices of the Company’s securities and liquidity risks. There were no transfers into or out of Level 3 during the three months ended March 31, 2026 or during the year ended December 31, 2025.

 

The changes in Level 3 fair value hierarchy during the three months ended March 31, 2026 and 2025 were as follows:

                     
   Level 3 Balance
at Beginning of
Period		   Fair Value
Adjustments		    Grants   Level 3 Balance
at End of Period		 
Three months ended March 31, 2026                          
Investments in other equity securities - embedded conversion feature  $-   $

1,300,000

    $

1,613,000

   $

2,913,000

 
Investments in other equity securities - warrants  $-   $

(800,000

)   $

1,085,000

   $

285,000

 
Embedded conversion feature liabilities  $1,576,000   $(1,324,000)   $-   $252,000 

 

   Level 3 Balance
at Beginning of
Period		   Fair Value
Adjustments		    Grants   Level 3 Balance
at End of Period		 
Three months ended March 31, 2025                                            
Embedded conversion feature liabilities  $-   $-    $2,269,000   $2,269,000 

 
v3.26.1
CRYPTO ASSETS
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
CRYPTO ASSETS

6. CRYPTO ASSETS

 

The Company measures its crypto assets at fair value using quoted market prices in active markets for identical assets, which are classified within Level 1 of the fair value hierarchy.

 

The following table presents the Company’s significant digital asset holdings as of March 31, 2026 and December 31, 2025:

 

  March 31,   December 31, 
   2026   2025 
Crypto assets  $26,251,000   $46,197,000 
Crypto assets, restricted(1)   16,666,000    - 
Total crypto assets holdings  $42,917,000   $46,197,000 

 

(1) The Company’s crypto assets, restricted includes Bitcoin pledged as collateral for the convertible promissory notes issued to JGB entities. See Note 12.

 

 

The following table presents the activities of the crypto assets for the three months ended March 31, 2026 and 2025:

          
   For the Three Months Ended March 31, 
   2026   2025 
Balance at January 1  $46,197,000   $182,000 
Additions of mined crypto assets   5,077,000    5,198,000 
Purchases of crypto assets   3,760,000    - 
Sale of crypto assets   -    (5,227,000)
Transferred to crypto assets, restricted   

(21,360,000

)   - 
Unrealized loss on crypto assets   (7,405,000)   (8,000)
Other   (18,000)   (43,000)
Balance at March 31  $26,251,000   $102,000 

 

The following table presents the activities of the crypto assets, restricted for the three months ended March 31, 2026:

 

    2026 
Balance at January 1  $- 
Transferred to crypto assets, restricted   21,360,000 
Unrealized loss on crypto assets, restricted   (4,682,000)
Other   (11,000)
Balance at March 31  $16,666,000 

 
v3.26.1
PROPERTY AND EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

7. PROPERTY AND EQUIPMENT, NET

 

At March 31, 2026 and December 31, 2025, property and equipment consisted of:

          
   March 31, 2026   December 31, 2025 
 Building, land and improvements  $89,954,000   $85,355,000 
 Crypto assets mining equipment   28,637,000    27,245,000 
 Crane rental equipment   35,657,000    33,368,000 
 Computer, software and related equipment   14,489,000    13,807,000 
 Aircraft   15,983,000    15,983,000 
 Other property and equipment   10,570,000    8,563,000 
    195,290,000    184,321,000 
 Accumulated depreciation and amortization   (48,240,000)   (42,333,000)
 Property and equipment, net  $147,050,000   $141,988,000 

 

Summary of depreciation expense:

        
   For the Three Months Ended March 31, 
   2026   2025 
 Depreciation expense  $6,001,000   $5,075,000 

 
v3.26.1
INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

8. INTANGIBLE ASSETS, NET

 

At March 31, 2026 and December 31, 2025, intangible assets consisted of:

             
   Useful Life  March 31, 2026   December 31, 2025 
Definite lived intangible assets:           
 Developed technology  5-10 years  $5,756,000   $5,684,000 
 Customer list  8-12 years   6,380,000    6,358,000 
 Trade names  10-15 years   2,547,000    2,529,000 
       14,683,000    14,571,000 
 Accumulated amortization      (1,266,000)   (898,000)
 Total definite-lived intangible assets     $13,417,000   $13,673,000 

 

Certain of the Company’s trade names and trademarks were determined to have an indefinite life. The remaining definite-lived intangible assets are primarily being amortized on a straight-line basis over their estimated useful lives.

 

Summary of amortization expense:

        
   For the Three Months Ended March 31, 
   2026   2025 
Amortization expense  $374,000   $126,000 

 

 

As of March 31, 2026, intangible assets subject to amortization have an average remaining useful life of 6.6 years. The following table presents estimated amortization expense for each of the succeeding five calendar years and thereafter.

     
2026 (remainder)   $1,099,000 
2027    1,465,000 
2028    1,465,000 
2029    1,465,000 
2030    1,448,000 
Thereafter    6,475,000 
    $13,417,000 

 
v3.26.1
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
 3 Months Ended
Mar. 31, 2026
Payables and Accruals [Abstract]  
ACCOUNTS PAYABLE AND ACCRUED EXPENSES

9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

Other current liabilities at March 31, 2026 and December 31, 2025 consisted of:

          
   March 31,   December 31, 
   2026   2025 
Accounts payable  $32,549,000   $19,076,000 
Accrued participation profits payable to investors   6,065,000    - 
Accrued payroll and payroll taxes   3,318,000    4,520,000 
Interest payable   2,477,000    2,752,000 
Accrued legal   1,066,000    1,139,000 
Other accrued expenses   15,127,000    11,720,000 
Total  $60,602,000   $39,207,000 

 
v3.26.1
NOTES PAYABLE
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
NOTES PAYABLE

10. NOTES PAYABLE

 

Notes payable at March 31, 2026 and December 31, 2025, were comprised of the following:

                             
   Collateral  Guarantors  Interest
rate		   Effective
rate(1)		   Due date  March 31,
2026		   December 31,
2025		 
AGREE secured construction loans, in default  AGREE hotels  -   10%   12%  January 1, 2027  $68,750,000   $68,750,000 
Circle 8 revolving credit facility  Circle 8 cranes with a book value of $27.1 million  -   9%   9%  June 16, 2026   6,801,000    7,205,000 
Circle 8 equipment financing notes  Circle 8 equipment with a book value of $3.0 million  -   6%   6%  Various dates through March 5, 2031   3,345,000    2,171,000 
Term note  -  Ault & Company, Inc. (“Ault & Company”) and Milton C. Ault, III   12%   77%  April 27, 2026   6,634,000    - 
Other  -  -   6%       Various   5,686,000    4,995,000 
Total notes payable                     $91,216,000   $83,121,000 
Less:                             
Unamortized debt discounts                      (78,000)   - 
Total notes payable, net                     $91,138,000   $83,121,000 
Less: current portion                      (88,772,000)   (82,055,000)
Notes payable – long-term portion                     $2,366,000   $1,066,000 

 

(1)Includes forbearance and extension fees and original issue discount (“OID”) costs that are amortized to interest expense over the life of the notes.

 

 

Second Amendment to AGREE Construction Loans 

 

In January 2026, the Company’s subsidiary AGREE amended the terms of its construction loans related to the AGREE properties. The amendment extended the maturity dates of the loans to January 1, 2027, subject to a potential one-year extension to January 1, 2028 upon satisfaction of certain conditions. The agreement also modifies the interest rate to Term SOFR plus 5.75%, with required monthly interest payments based on Term SOFR plus 4.75%, with the difference accruing and payable at maturity or earlier repayment. On April 1, 2026, the borrowers were required to make a principal payment of $3.0 million followed by monthly principal payments of $1.0 million through maturity. As of the date of this filing, AGREE and its subsidiaries have not made the required principal payments. While such non-payment constitutes an event of default under the loan agreements, the lenders have not provided a notice of default. The modification also requires the borrowers to fund interest reserves totaling approximately $2.0 million and provides temporary waivers of certain financial covenants through the scheduled maturity date. The interest reserves have not been funded as of the date of this filing. In connection with the modification, the borrowers paid an extension fee of approximately $0.3 million.

 

Circle 8 Financing

 

In March 2026, Circle 8 entered into a secured promissory note in the principal amount of $1.5 million for the purchase of a crane. The secured promissory note accrues interest at 5.9% per annum and will mature in March 2031.

Term Notes

 

In January and February 2026, the Company issued two short-term term notes to an institutional investor for aggregate gross proceeds of $10.0 million. The notes were originally scheduled to mature in March and April 2026, respectively, and require periodic principal repayments prior to maturity. The Company amended the note that was scheduled to mature in March 2026 to extend its maturity date to April 7, 2026. In connection with the extension, the Company agreed to pay an extension fee of approximately $0.1 million, which was added to the outstanding principal balance. The notes have been repaid in full.

 

Notes Payable Maturities

 

Principal maturities of the Company’s notes payable, assuming the exercise of all extensions that are exercisable solely at the Company’s option, as of March 31, 2026 were:

     
Year    
2026 (remainder)  $88,850,000 
2027   757,000 
2028   640,000 
2029   526,000 
2030   

320,000

 
Thereafter   

123,000

 
   $91,216,000 

 

Interest Expense

          
   For the Three Months Ended 
   March 31, 
   2026   2025 
Contractual interest expense  $4,877,000   $3,775,000 
Forbearance fees   74,000    12,000 
Amortization of debt discount   1,595,000    52,000 
Total interest expense  $6,546,000   $3,839,000 

 
v3.26.1
NOTES PAYABLE, RELATED PARTY
 3 Months Ended
Mar. 31, 2026
Notes Payable Related Party  
NOTES PAYABLE, RELATED PARTY

11. NOTES PAYABLE, RELATED PARTY

 

Notes payable, related party at March 31, 2026 and December 31, 2025, were comprised of the following:

                   
   Interest rate  Effective rate  Due date  March 31, 2026   December 31, 2025 
Ault & Company demand promissory note  10%  9.5%  Upon demand  $850,000   $1,635,000 
Notes from officers - TurnOnGreen, in default  14%  14.0%  Past due   51,000    51,000 
Total notes payable           $901,000   $1,686,000 

 

 

Summary of interest expense, related party, recorded within interest expense on the condensed consolidated statement of operations:

        
   For the Three Months Ended March 31, 
   2026   2025 
Interest expense, related party  $28,000   $2,000 

 
v3.26.1
CONVERTIBLE NOTES
 3 Months Ended
Mar. 31, 2026
Convertible Notes  
CONVERTIBLE NOTES

12. CONVERTIBLE NOTES

 

Convertible notes payable at March 31, 2026 and December 31, 2025, were comprised of the following:

                      
   Conversion price
per share		  Interest
rate		  Effective
rate(1)		  Due date  March 31, 2026   December 31,
2025		 
Convertible promissory notes issued to JGB entities  85% of 3-day VWAP  13%  32%  December 30, 2027  $12,768,000   $12,768,000 
SJC Lending, LLC (“SJC”) convertible promissory note  75% of 5-day VWAP  15%  15%  June 30, 2026   2,786,000    2,786,000 
ROI senior secured convertible note, in default  $0.11 (ROI stock)  OID Only  15%  April 27, 2024   631,000    1,981,000 
TurnOnGreen convertible promissory note  80% of 10-day
VWAP
(TurnOnGreen stock)		  12%  21%  Various dates through March 27, 2027   1,320,000    440,000 
Fair value of embedded conversion options               252,000    1,576,000 
Total convertible notes payable               17,757,000    19,551,000 
Less: unamortized debt discounts               (4,387,000)   (4,958,000)
Total convertible notes payable, net of financing cost, long-term              $13,370,000   $14,593,000 
Less: current portion               (4,899,000)   (6,750,000)
Convertible notes payable, net of financing cost – long-term portion              $8,471,000   $7,843,000 

 

(1)Includes forbearance and extension fees and OID costs that are amortized to interest expense over the life of the notes.

 

SJC Convertible Promissory Note Amendment

 

In January 2026, the Company entered into an amendment with SJC pursuant to which the maturity date of the convertible promissory note was extended to June 30, 2026.

 

Embedded Derivatives

 

The Company identified embedded derivative features within certain convertible promissory notes that required bifurcation and separate accounting as derivative liabilities under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging. These features primarily relate to conversion options with variable pricing mechanisms.

 

The fair value of the embedded derivative liabilities was estimated using a Monte Carlo simulation model. The model incorporates key assumptions including the Company’s stock price, risk-free interest rate, expected volatility, credit-risk adjusted discount rate, and the specific terms of each conversion feature (including floor price, cap, and pricing based on the Volume-Weighted Average Price, or VWAP). Due to the significant use of unobservable inputs, these derivative liabilities are classified within Level 3 of the fair value hierarchy. See Note 5 for additional information, including the initial recognition and rollforward of embedded derivative liabilities.

 

The following table summarizes the key inputs used in the valuation of the embedded derivatives at inception and as of March 31, 2026:

      
Assumption  Weighted Average at
Inception		  Weighted Average at
March 31, 2026
Valuation technique  Monte Carlo Simulation  Monte Carlo Simulation
Risk-free interest rate  3.6%  3.7%
Expected volatility  108%  130%
Credit-risk adjusted rate  27%  41%
Time to maturity (years)  1.7  1.0
Stock price at valuation date  $0.81  $0.15
Dividend yield  0%  0%

 

 

The Monte Carlo simulation utilized 100,000 iterations and incorporated conversion mechanics, including the floor price and the VWAP-based conversion price as defined in each agreement. The incremental value attributable to the conversion feature was isolated to determine its impact on the overall fair value of the embedded option.

Gain (Loss) on Extinguishment of Convertible Notes

 

During the three months ended March 31, 2026, the Company did not recognize any gains or losses on extinguishment of convertible notes.

 

During the three months ended March 31, 2025, the Company recognized a net loss on extinguishment of convertible notes of $4.6 million, consisting primarily of losses recognized on certain exchange or refinancing transactions where newly issued instruments were determined to be substantially different from the original debt instruments under applicable accounting guidance.

 

Contractual Maturities

 

Principal maturities of the Company’s convertible notes payable, assuming the exercise of all extensions that are exercisable solely at the Company’s option, as of March 31, 2026, were:

     
Year  Principal 
2026 (remainder)  $4,737,000 
2027   12,768,000 
   $17,505,000 

 
v3.26.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

13. COMMITMENTS AND CONTINGENCIES

 

Contingencies

 

Litigation Matters

 

The Company is involved in litigation arising from matters in the ordinary course of business. The Company is regularly subject to claims, suits, regulatory and government investigations, and other proceedings involving labor and employment, commercial disputes, and other matters. Such claims, suits, regulatory and government investigations, and other proceedings could result in fines, civil penalties or other adverse consequences.

 

Certain of these outstanding matters include speculative, substantial or indeterminate monetary amounts. The Company records a liability when it believes that it is probable that a loss has been incurred and the amount can be reasonably estimated. If the Company determines that a loss is reasonably possible and the loss or range of loss can be estimated, the Company discloses the reasonably possible loss. The Company evaluates developments in its legal matters that could affect the amount of liability that has been previously accrued, and the matters and related reasonably possible losses disclosed, and makes adjustments as appropriate. Significant judgment is required to determine both likelihood of there being a loss and the estimated amount of a loss related to such matters.

 

Based on the Company’s current knowledge, the Company believes that the amount or range of reasonably possible loss will not, either individually or in aggregate, have a material adverse effect on the Company’s business, consolidated financial position, results of operations, or cash flows. However, the outcome of such matters is inherently unpredictable and subject to significant uncertainties.

 
v3.26.1
STOCKHOLDERS’ EQUITY
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

14. STOCKHOLDERS’ EQUITY

 

Class A Common Stock

 

Class A common stock confers upon the holders the rights to receive notice to participate and vote at any meeting of stockholders of the Company, to receive dividends, if and when declared, and to participate in a distribution of surplus of assets upon liquidation of the Company.

 

 

On December 19, 2025, the Company entered into an at-the-market issuance sales agreement providing for the sale of up to $50.0 million of additional shares of Class A common stock under its effective shelf registration statement (the “ATM Offering”). During the period between January 1, 2026 through March 31, 2026, the Company sold an aggregate of 46.6 million shares of Class A common stock pursuant to the ATM Offering for gross proceeds of $10.6 million.

Class B Common Stock

 

The Class B common stock is identical to the Class A common stock, with the exception that each share thereof carries 10 times the voting power of a share of Class A common stock. The Class B common stock is convertible at any time into Class A common stock on a one-for-one basis at the option of the holder of the Class B common stock.

 

Series D Preferred ATM Offering Activity

 

On February 13, 2026, the Company entered into an at-the-market issuance sales agreement to sell shares of the Company’s 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share (the “Series D Preferred”), having an aggregate offering price of up to $35.4 million from time to time, through an “at the market offering” (the “Series Preferred D ATM Offering”). During the period between January 1, 2026 through March 31, 2026, the Company sold an aggregate of 2,498 shares of Series D Preferred Stock pursuant to its Series Preferred D ATM offering for net proceeds of $53,000.

 

Preferred Stock

 

Preferred stock as of March 31, 2026 consisted of the following:

                         
   Par Value
Per Share		   Stated Value
Per Share		   Shares
Authorized		   Liquidation
Preference		   Shares Issued and
Outstanding at
March 31, 2026		 
Series A Convertible Preferred Stock  $0.001   $25    1,000,000   $176,000    7,040 
Series B Convertible Preferred Stock  $0.001   $1,000    60,000    3,000,000    3,000 
Series C Convertible Preferred Stock  $0.001   $1,000    75,000    50,000,000    50,000 
Series D Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,000,000    14,703,000    588,111 
Series E Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,500,000    16,250,000    649,998 
Series F Exchangeable Preferred Stock  $0.001   $1,000    1,000,000    999,000    998,577 
Series G Convertible Preferred Stock  $0.001   $1,000    25,000    960,000    960 
Series H Convertible Preferred Stock  $0.001   $1,000    100,000    4,000,000    4,000 
Unallocated             18,240,000    -    - 
Total             25,000,000   $90,088,000    2,301,686 

 

Preferred stock as of December 31, 2025 consisted of the following:

 

   Par Value
Per Share		   Stated Value
Per Share		   Shares
Authorized		   Liquidation
Preference		   Shares Issued and
Outstanding at
December 31, 2025		 
Series A Convertible Preferred Stock  $0.001   $25    1,000,000   $176,000    7,040 
Series B Convertible Preferred Stock  $0.001   $1,000    60,000    3,000,000    3,000 
Series C Convertible Preferred Stock  $0.001   $1,000    75,000    50,000,000    50,000 
Series D Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,000,000    14,640,000    585,613 
Series E Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,500,000    16,250,000    649,998 
Series F Exchangeable Preferred Stock  $0.001   $1,000    1,000,000    999,000    998,577 
Series G Convertible Preferred Stock  $0.001   $1,000    25,000    960,000    960 
Series H Convertible Preferred Stock  $0.001   $1,000    100,000    4,000,000    4,000 
Unallocated             18,240,000    -    - 
Total             25,000,000   $90,025,000    2,299,188 

 

 

The Company is authorized to issue 25.0 million shares of preferred stock, $0.001 par value. As of March 31, 2026, the rights, preferences, privileges and restrictions on the remaining authorized 18.2 million shares of preferred stock had not been determined. The Board is authorized to designate a new series of preferred shares and determine the number of shares, as well as the rights, preferences, privileges and restrictions granted to or imposed upon any series of preferred shares.
v3.26.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES

15. INCOME TAXES

 

The Company calculates its interim income tax provision in accordance with ASC Topic 270, Interim Reporting, and Topic 740, Income Taxes. The difference between the effective tax rate and the federal statutory rate of 21% is primarily due to items recognized for financial reporting purposes that are permanently disallowed for U.S. federal income tax purposes, as well as changes in the valuation allowance.

 
v3.26.1
NET LOSS PER SHARE
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
NET LOSS PER SHARE

16. NET LOSS PER SHARE

 

Net loss per share is computed by dividing the net loss to common stockholders by the weighted average number of shares of Class A and Class B common stock outstanding. The calculation of the basic and diluted earnings per share is the same for all periods presented as the effect of the potential common stock equivalents is anti-dilutive due to the Company’s net loss position for all periods presented. Anti-dilutive securities, which are convertible into or exercisable for the Company’s Class A common stock, consisted of the following at March 31, 2026 and 2025:

          
   March 31, 2026   March 31, 2025 
Convertible preferred stock   373,900,000    30,071,000 
Convertible notes   51,179,000    7,403,000 
Stock options   

6,200,000

    - 
Warrants   639,000    622,000 
Total   431,918,000    38,096,000 

 
v3.26.1
SEGMENT AND CUSTOMERS INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT AND CUSTOMERS INFORMATION

17. SEGMENT AND CUSTOMERS INFORMATION

 

The Company had the following reportable segments as of March 31, 2026 and 2025; see Note 1 for a brief description of the Company’s business.

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended March 31, 2026:

                                             
   Gresham   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $-   $11,001,000   $-   $-   $11,001,000 
Revenue, defense solutions   10,182,000    -    -    -    -    -    -    -    10,182,000 
Revenue, crypto assets mining   -    -    -    5,077,000    -    -    -    -    5,077,000 
Revenue, hotel and real estate operations   -    -    -    253,000    3,603,000    -    -    -    3,856,000 
Revenue, lending and trading activities   -    -    11,521,000    -    -    -    -    -    11,521,000 
Revenue, other        1,736,000    -    -    -    -    1,000    705,000    2,442,000 
Total revenue   10,182,000    1,736,000    11,521,000    5,330,000    3,603,000    11,001,000    1,000    705,000    44,079,000 
Cost of revenue   7,036,000    923,000    1,944,000    7,610,000    2,990,000    7,180,000    -    1,327,000    29,010,000 
Gross profit (loss)   3,146,000    813,000    9,577,000    (2,280,000)   613,000    3,821,000    1,000    (622,000)   15,069,000 
Operating expenses                                             
General and administrative   2,563,000    993,000    9,000    957,000    1,357,000    2,192,000    1,643,000    8,812,000    18,526,000 
Selling and marketing   454,000    308,000    -    -    -    -    89,000    4,761,000    5,612,000 
Research and development   400,000    133,000    -    -    -    -    1,550,000    2,717,000    4,800,000 
Change in fair value of crypto assets   -    -    -    11,437,000    -    -    -    650,000    12,087,000 
Total operating expenses   3,417,000    1,434,000    9,000    12,394,000    1,357,000    2,192,000    3,282,000    16,940,000    41,025,000 
(Loss) income from operations  $(271,000)  $(621,000)  $9,568,000   $(14,674,000)  $(744,000)  $1,629,000   $(3,281,000)  $(17,562,000)   (25,956,000)
Other income (expense):                                             
Interest and other income                                           769,000 
Interest expense                                           (6,546,000)
Gain on extinguishment of debt                                           489,000 
Change in fair value of embedded derivative liabilities                                           1,324,000 
Total other expense, net                                           (3,964,000)
Loss before income taxes                                          $(29,920,000)
                                              
Depreciation and amortization expense  $537,000   $8,000   $-   $3,542,000   $708,000   $1,021,000   $23,000   $536,000   $6,375,000 
                                              
Interest expense  $(376,000)  $(226,000)  $-   $(1,000)  $(3,410,000)  $(271,000)  $(319,000)  $(1,943,000)  $(6,546,000)
                                              
Capital expenditures for the three months
ended March 31, 2026		  $65,000   $-   $-   $6,523,000   $120,000   $1,482,000   $14,000   $2,362,000   $10,566,000 
                                              
Segment identifiable assets as of March 31, 2026  $39,365,000   $4,961,000   $18,145,000   $85,992,000   $65,719,000   $42,683,000   $680,000   $51,907,000   $309,452,000 

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended March 31, 2025:

 

   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $13,769,000   $-   $-   $13,769,000 
Revenue, crypto assets mining   -    -    5,198,000    -    -    -    -    5,198,000 
Revenue, hotel and real estate operations   -    -    516,000    3,149,000    -    -    -    3,665,000 
Revenue, lending and trading activities   -    (28,000)   -    -    -    -    -    (28,000)
Revenue, other   1,592,000    -    -    -    29,000    (1,000)   797,000    2,417,000 
Total revenue   1,592,000    (28,000)   5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,021,000 
Cost of revenue   861,000    -    7,031,000    2,844,000    8,364,000    206,000    432,000    19,738,000 
Gross profit (loss)   731,000    (28,000)   (1,317,000)   305,000    5,434,000    (207,000)   365,000    5,283,000 
Operating expenses                                        
Research and development   125,000    -    -    -    -    4,000    -    129,000 
Selling and marketing   246,000    -    -    -    -    2,088,000    -    2,334,000 
General and administrative   1,138,000    120,000    (51,000)   1,363,000    2,337,000    -    4,297,000    9,204,000 
Total operating expenses   1,509,000    120,000    (51,000)   1,363,000    2,337,000    2,092,000    4,297,000    11,667,000 
(Loss) income from operations  $(778,000)  $(148,000)  $(1,266,000)  $(1,058,000)  $3,097,000   $(2,299,000)  $(3,932,000)   (6,384,000)
Other income (expense):                                        
Interest and other income                                      240,000 
Interest expense                                      (3,839,000)
Loss on extinguishment of debt                                      (4,569,000)
Gain on deconsolidation of subsidiary                                      10,049,000 
Loss on the sale of fixed assets                                      (161,000)
Total other expense, net                                      1,720,000 
Loss before income taxes                                     $(4,664,000)
                                         
Depreciation and amortization expense  $19,000   $-   $2,584,000   $972,000   $1,128,000   $19,000   $479,000   $5,201,000 
                                         
Interest expense  $(7,000)  $-   $(1,000)  $(1,839,000)  $(903,000)  $(225,000)  $(864,000)  $(3,839,000)
                                         
Capital expenditures for the year ended March 31, 2025  $-   $-   $1,621,000   $95,000   $1,138,000   $23,000   $3,000   $2,880,000 
                                         
Segment identifiable assets as of March 31, 2025  $2,855,000   $20,271,000   $33,851,000   $68,116,000   $46,399,000   $1,001,000   $45,761,000   $218,254,000 

 

 
v3.26.1
CONCENTRATIONS OF CREDIT AND REVENUE RISK
 3 Months Ended
Mar. 31, 2026
Concentrations Of Credit And Revenue Risk  
CONCENTRATIONS OF CREDIT AND REVENUE RISK

18. CONCENTRATIONS OF CREDIT AND REVENUE RISK

 

Significant customers are those that represent more than 10% of the Company’s total revenue or accounts receivable balances for the periods and as of each balance sheet date presented. For each significant customer, revenue as a percentage of total revenue and gross accounts receivable as a percentage of total gross accounts receivable as of the periods presented were as follows:

                    
   Accounts Receivable   Revenue 
   March 31,   December 31,   For the Three Months Ended March 31, 
   2026   2025   2026   2025 
Customer A   *    *    12%   21%
Customer B   12%   13%   *    * 
Customer C   *    *    23%   * 
Customer D   30%   25%   12%   * 

 

*less than 10%

 
v3.26.1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

19. SUBSEQUENT EVENTS

 

Class A Common Stock ATM Offering Activity

 

During the period between April 1, 2026 through May 15, 2026, the Company sold an aggregate of 91.1 million shares of Class A common stock pursuant to the ATM Offering for gross proceeds of $14.0 million.

 

Series D Preferred ATM Offering Activity

 

During the period between April 1, 2026 through May 15, 2026, the Company issued an aggregate of 20,245 shares of Series D Preferred Stock pursuant to its Series Preferred D ATM Offering for gross proceeds of $0.4 million.

 

Term Note

 

In April 2026, the Company entered into a short-term term note with an institutional investor for gross proceeds of $10.0 million. The note was issued with an OID of $0.8 million and has a principal face amount of $10.8 million. The note bears interest at 12% per annum and matures on June 29, 2026. Beginning May 8, 2026, the Company is required to make weekly principal payments of $0.7 million through June 26, 2026, with the remaining outstanding principal balance and accrued interest due at maturity. The note may be prepaid at any time without penalty. Repayment obligations under the note are guaranteed by Ault & Company and Milton C. Ault, III, the Company’s Executive Chairman.

 

Receipt of Litigation-Related Proceeds

 

On April 1, 2026, the Company received cash proceeds of approximately $16.6 million in connection with the resolution of litigation involving a former subsidiary. The Company is currently evaluating the appropriate accounting and treatment of these proceeds, including the extent to which amounts may be retained, distributed, or otherwise allocated.

 

Circle 8 Financing Agreement

 

In April 2026, Circle 8 finalized a financing arrangement and received $10.0 million in equipment financing. In connection with the financing, Circle 8 issued a promissory note with a five-year term requiring monthly payments of approximately $0.2 million. The note bears interest at a variable rate based on the five-year U.S. Treasury rate plus 2%, with an initial rate of approximately 5.7%.

 

The financing is secured by first-priority liens on certain cranes and related equipment owned by Circle 8. Proceeds from the financing were used to fully repay amounts outstanding under the Circle 8 revolving credit facility and for general operating purposes.

 

Authorized Shares Increase

 

On April 16, 2026, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to increase the number of authorized shares of its Class A common stock from 500,000,000 shares to 2,500,000,000 shares.
v3.26.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Reclassifications

Reclassifications

 

Certain prior period amounts have been reclassified for comparative purposes to conform to the current-period financial statement presentation.

 
Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

The Company continually assesses any new accounting pronouncements to determine their applicability. When management determines that a new accounting pronouncement may affect the Company’s financial reporting, the Company undertakes an analysis to determine whether any required changes should be made to its condensed consolidated financial statements.

 

Recently Issued Standards

 

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 requires additional disclosures of certain expenses in the notes of the financial statements, to provide enhanced transparency into the expense captions presented on the consolidated statements of operations. The new standard is effective for the Company for its annual periods beginning January 1, 2027 and for interim periods beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard.

 

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 provides a practical expedient to assume current economic conditions will not change for the remaining life of an asset when preparing forecasts as part of estimating credit losses. The new standard is effective for the Company for its annual periods beginning January 1, 2026 and interim period within those annual periods, with early adoption permitted and should be applied on a prospective basis. The Company adopted ASC 2025-05 during the three months ended March 31, 2026, which did not have a material impact on its consolidated financial position, results of operations, or cash flows.

 

In January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2025-01”), to clarify the effective date of ASU 2024-03. The new standard is effective for the Company for its annual periods beginning January 1, 2027 and for interim periods beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-01; however, because the standard primarily affects disclosure requirements, the Company does not expect adoption to have a material impact on its consolidated financial position, results of operations, or cash flows.

 
v3.26.1
REVENUE DISAGGREGATION (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregated revenues
                                             
   Gresham   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Primary Geographical Markets                                             
North America  $1,752,000   $1,524,000   $-   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $23,916,000 
Europe   1,630,000    -    -    -    -    -    -    -    1,630,000 
Middle East and other   6,800,000    212,000    -    -    -    -    -    -    7,012,000 
Revenue from contracts with customers   10,182,000    1,736,000    -    5,330,000    3,603,000    11,001,000    1,000    705,000    32,558,000 
Revenue, lending and trading activities (North America)   -    -    11,521,000    -    -    -    -    -    11,521,000 
Total revenue  $10,182,000   $1,736,000   $11,521,000   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $44,079,000 
                                              
Major Goods or Services                                             
Crane rental  $-   $-   $-   $-   $-   $11,001,000   $-   $-   $11,001,000 

Revenue from mined crypto assets at Sentinum

owned and operated facilities

   -    -    -    5,077,000    -    -    -    -    5,077,000 
Hotel and real estate operations   -    -    -    253,000    3,603,000    -    -    -    3,856,000 
Power supply units and systems   3,342,000    1,736,000    -    -    -    -    -    -    5,078,000 
Defense systems   6,065,000    -    -    -    -    -    -    -    6,065,000 
Other   775,000    -    -    -    -    -    1,000    705,000    1,481,000 
Revenue from contracts with customers   10,182,000    1,736,000    -    5,330,000    3,603,000    11,001,000    1,000    705,000    32,558,000 
Revenue, lending and trading activities   -    -    11,521,000    -    -    -    -    -    11,521,000 
Total revenue  $10,182,000   $1,736,000   $11,521,000   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $44,079,000 
                                              
Timing of Revenue Recognition                                             
Goods and services transferred at a point in time  $10,182,000   $1,714,000   $-   $5,330,000   $3,603,000   $-   $1,000   $705,000   $21,535,000 
Services transferred over time   -    22,000    -    -    -    11,001,000    -    -    11,023,000 
Revenue from contracts with customers  $10,182,000   $1,736,000   $-   $5,330,000   $3,603,000   $11,001,000   $1,000   $705,000   $32,558,000 

 

The Company’s disaggregated revenues consisted of the following for the three months ended March 31, 2025:

 

   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Primary Geographical Markets                                        
North America  $1,528,000   $-   $5,714,000   $3,149,000   $13,769,000   $(1,000)  $797,000   $24,956,000 
Europe   6,000    -    -    -    29,000    -    -    35,000 
Middle East and other   58,000    -    -    -    -    -    -    58,000 
Revenue from contracts with customers   1,592,000    -    5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,049,000 
Revenue, lending and trading activities (North America)   -    (28,000)   -    -    -    -    -    (28,000)
Total revenue  $1,592,000   $(28,000)  $5,714,000   $3,149,000   $13,798,000   $(1,000)  $797,000   $25,021,000 
                                         
Major Goods or Services                                        
Power supply units and systems  $1,592,000   $-   $-   $-   $-   $-   $-   $1,592,000 

Revenue from mined crypto assets at Sentinum

owned and operated facilities

   -    -    5,198,000    -    -    -    -    5,198,000 
Hotel and real estate operations   -    -    516,000    3,149,000    -    -    -    3,665,000 
Crane rental   -    -    -    -    13,769,000    -    -    13,769,000 
Other   -    -    -    -    29,000    (1,000)   797,000    825,000 
Revenue from contracts with customers   1,592,000    -    5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,049,000 
Revenue, lending and trading activities   -    (28,000)   -    -    -    -    -    (28,000)
Total revenue  $1,592,000   $(28,000)  $5,714,000   $3,149,000   $13,798,000   $(1,000)  $797,000   $25,021,000 
                                         
Timing of Revenue Recognition                                        
Goods and services transferred at a point in time  $1,592,000   $-   $5,714,000   $3,149,000   $29,000   $(1,000)  $797,000   $11,280,000 
Services transferred over time   -    -    -    -    13,769,000    -    -    13,769,000 
Revenue from contracts with customers  $1,592,000   $-   $5,714,000   $3,149,000   $13,798,000   $(1,000)  $797,000   $25,049,000 
v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair value, assets measured on recurring basis
                
   Fair Value Measurement at March 31, 2026 
   Total   Level 1   Level 2   Level 3 
Investments in other equity securities - embedded conversion feature  $

2,913,000

   $-   $-   $

2,913,000

 
Investments in other equity securities - warrants  $

285,000

   $-   $-   $

285,000

 
Embedded conversion feature liabilities  $252,000   $-   $-   $252,000 

 

   Fair Value Measurement at December 31, 2025 
   Total   Level 1   Level 2   Level 3 
Embedded conversion feature liabilities  $1,576,000   $-   $-   $1,576,000 
Schedule of changes in fair value hierarchy
                     
   Level 3 Balance
at Beginning of
Period		   Fair Value
Adjustments		    Grants   Level 3 Balance
at End of Period		 
Three months ended March 31, 2026                          
Investments in other equity securities - embedded conversion feature  $-   $

1,300,000

    $

1,613,000

   $

2,913,000

 
Investments in other equity securities - warrants  $-   $

(800,000

)   $

1,085,000

   $

285,000

 
Embedded conversion feature liabilities  $1,576,000   $(1,324,000)   $-   $252,000 

 

   Level 3 Balance
at Beginning of
Period		   Fair Value
Adjustments		    Grants   Level 3 Balance
at End of Period		 
Three months ended March 31, 2025                                            
Embedded conversion feature liabilities  $-   $-    $2,269,000   $2,269,000 
v3.26.1
CRYPTO ASSETS (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of digital asset holdings
  March 31,   December 31, 
   2026   2025 
Crypto assets  $26,251,000   $46,197,000 
Crypto assets, restricted(1)   16,666,000    - 
Total crypto assets holdings  $42,917,000   $46,197,000 

 

(1) The Company’s crypto assets, restricted includes Bitcoin pledged as collateral for the convertible promissory notes issued to JGB entities. See Note 12.
Schedule of activities of the crypto assets
          
   For the Three Months Ended March 31, 
   2026   2025 
Balance at January 1  $46,197,000   $182,000 
Additions of mined crypto assets   5,077,000    5,198,000 
Purchases of crypto assets   3,760,000    - 
Sale of crypto assets   -    (5,227,000)
Transferred to crypto assets, restricted   

(21,360,000

)   - 
Unrealized loss on crypto assets   (7,405,000)   (8,000)
Other   (18,000)   (43,000)
Balance at March 31  $26,251,000   $102,000 
Schedule of activities of the crypto assets, restricted
    2026 
Balance at January 1  $- 
Transferred to crypto assets, restricted   21,360,000 
Unrealized loss on crypto assets, restricted   (4,682,000)
Other   (11,000)
Balance at March 31  $16,666,000 
v3.26.1
PROPERTY AND EQUIPMENT, NET (Tables)
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Schedule of property and equipment
          
   March 31, 2026   December 31, 2025 
 Building, land and improvements  $89,954,000   $85,355,000 
 Crypto assets mining equipment   28,637,000    27,245,000 
 Crane rental equipment   35,657,000    33,368,000 
 Computer, software and related equipment   14,489,000    13,807,000 
 Aircraft   15,983,000    15,983,000 
 Other property and equipment   10,570,000    8,563,000 
    195,290,000    184,321,000 
 Accumulated depreciation and amortization   (48,240,000)   (42,333,000)
 Property and equipment, net  $147,050,000   $141,988,000 
Schedule of depreciation
        
   For the Three Months Ended March 31, 
   2026   2025 
 Depreciation expense  $6,001,000   $5,075,000 
v3.26.1
INTANGIBLE ASSETS, NET (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible asset
             
   Useful Life  March 31, 2026   December 31, 2025 
Definite lived intangible assets:           
 Developed technology  5-10 years  $5,756,000   $5,684,000 
 Customer list  8-12 years   6,380,000    6,358,000 
 Trade names  10-15 years   2,547,000    2,529,000 
       14,683,000    14,571,000 
 Accumulated amortization      (1,266,000)   (898,000)
 Total definite-lived intangible assets     $13,417,000   $13,673,000 
Schedule of amortization expense
        
   For the Three Months Ended March 31, 
   2026   2025 
Amortization expense  $374,000   $126,000 
Schedule of estimated amortization expense
     
2026 (remainder)   $1,099,000 
2027    1,465,000 
2028    1,465,000 
2029    1,465,000 
2030    1,448,000 
Thereafter    6,475,000 
    $13,417,000 
v3.26.1
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)
 3 Months Ended
Mar. 31, 2026
Payables and Accruals [Abstract]  
Schedule of other current liabilities
          
   March 31,   December 31, 
   2026   2025 
Accounts payable  $32,549,000   $19,076,000 
Accrued participation profits payable to investors   6,065,000    - 
Accrued payroll and payroll taxes   3,318,000    4,520,000 
Interest payable   2,477,000    2,752,000 
Accrued legal   1,066,000    1,139,000 
Other accrued expenses   15,127,000    11,720,000 
Total  $60,602,000   $39,207,000 
v3.26.1
NOTES PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of notes payable
                             
   Collateral  Guarantors  Interest
rate		   Effective
rate(1)		   Due date  March 31,
2026		   December 31,
2025		 
AGREE secured construction loans, in default  AGREE hotels  -   10%   12%  January 1, 2027  $68,750,000   $68,750,000 
Circle 8 revolving credit facility  Circle 8 cranes with a book value of $27.1 million  -   9%   9%  June 16, 2026   6,801,000    7,205,000 
Circle 8 equipment financing notes  Circle 8 equipment with a book value of $3.0 million  -   6%   6%  Various dates through March 5, 2031   3,345,000    2,171,000 
Term note  -  Ault & Company, Inc. (“Ault & Company”) and Milton C. Ault, III   12%   77%  April 27, 2026   6,634,000    - 
Other  -  -   6%       Various   5,686,000    4,995,000 
Total notes payable                     $91,216,000   $83,121,000 
Less:                             
Unamortized debt discounts                      (78,000)   - 
Total notes payable, net                     $91,138,000   $83,121,000 
Less: current portion                      (88,772,000)   (82,055,000)
Notes payable – long-term portion                     $2,366,000   $1,066,000 

 

(1)Includes forbearance and extension fees and original issue discount (“OID”) costs that are amortized to interest expense over the life of the notes.
Schedule of maturities
     
Year    
2026 (remainder)  $88,850,000 
2027   757,000 
2028   640,000 
2029   526,000 
2030   

320,000

 
Thereafter   

123,000

 
   $91,216,000 
Schedule of interest expense
          
   For the Three Months Ended 
   March 31, 
   2026   2025 
Contractual interest expense  $4,877,000   $3,775,000 
Forbearance fees   74,000    12,000 
Amortization of debt discount   1,595,000    52,000 
Total interest expense  $6,546,000   $3,839,000 
v3.26.1
NOTES PAYABLE, RELATED PARTY (Tables)
 3 Months Ended
Mar. 31, 2026
Notes Payable Related Party  
Schedule of notes payable, related party
                   
   Interest rate  Effective rate  Due date  March 31, 2026   December 31, 2025 
Ault & Company demand promissory note  10%  9.5%  Upon demand  $850,000   $1,635,000 
Notes from officers - TurnOnGreen, in default  14%  14.0%  Past due   51,000    51,000 
Total notes payable           $901,000   $1,686,000 
Schedule of interest expense, related party
        
   For the Three Months Ended March 31, 
   2026   2025 
Interest expense, related party  $28,000   $2,000 
v3.26.1
CONVERTIBLE NOTES (Tables)
 3 Months Ended
Mar. 31, 2026
Convertible Notes  
Schedule of convertible notes payable
                      
   Conversion price
per share		  Interest
rate		  Effective
rate(1)		  Due date  March 31, 2026   December 31,
2025		 
Convertible promissory notes issued to JGB entities  85% of 3-day VWAP  13%  32%  December 30, 2027  $12,768,000   $12,768,000 
SJC Lending, LLC (“SJC”) convertible promissory note  75% of 5-day VWAP  15%  15%  June 30, 2026   2,786,000    2,786,000 
ROI senior secured convertible note, in default  $0.11 (ROI stock)  OID Only  15%  April 27, 2024   631,000    1,981,000 
TurnOnGreen convertible promissory note  80% of 10-day
VWAP
(TurnOnGreen stock)		  12%  21%  Various dates through March 27, 2027   1,320,000    440,000 
Fair value of embedded conversion options               252,000    1,576,000 
Total convertible notes payable               17,757,000    19,551,000 
Less: unamortized debt discounts               (4,387,000)   (4,958,000)
Total convertible notes payable, net of financing cost, long-term              $13,370,000   $14,593,000 
Less: current portion               (4,899,000)   (6,750,000)
Convertible notes payable, net of financing cost – long-term portion              $8,471,000   $7,843,000 

 

(1)Includes forbearance and extension fees and OID costs that are amortized to interest expense over the life of the notes.
Schedule of valuation of the embedded derivatives
      
Assumption  Weighted Average at
Inception		  Weighted Average at
March 31, 2026
Valuation technique  Monte Carlo Simulation  Monte Carlo Simulation
Risk-free interest rate  3.6%  3.7%
Expected volatility  108%  130%
Credit-risk adjusted rate  27%  41%
Time to maturity (years)  1.7  1.0
Stock price at valuation date  $0.81  $0.15
Dividend yield  0%  0%
Schedule of contractual maturities
     
Year  Principal 
2026 (remainder)  $4,737,000 
2027   12,768,000 
   $17,505,000 
v3.26.1
STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders’ equity
                         
   Par Value
Per Share		   Stated Value
Per Share		   Shares
Authorized		   Liquidation
Preference		   Shares Issued and
Outstanding at
March 31, 2026		 
Series A Convertible Preferred Stock  $0.001   $25    1,000,000   $176,000    7,040 
Series B Convertible Preferred Stock  $0.001   $1,000    60,000    3,000,000    3,000 
Series C Convertible Preferred Stock  $0.001   $1,000    75,000    50,000,000    50,000 
Series D Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,000,000    14,703,000    588,111 
Series E Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,500,000    16,250,000    649,998 
Series F Exchangeable Preferred Stock  $0.001   $1,000    1,000,000    999,000    998,577 
Series G Convertible Preferred Stock  $0.001   $1,000    25,000    960,000    960 
Series H Convertible Preferred Stock  $0.001   $1,000    100,000    4,000,000    4,000 
Unallocated             18,240,000    -    - 
Total             25,000,000   $90,088,000    2,301,686 

 

Preferred stock as of December 31, 2025 consisted of the following:

 

   Par Value
Per Share		   Stated Value
Per Share		   Shares
Authorized		   Liquidation
Preference		   Shares Issued and
Outstanding at
December 31, 2025		 
Series A Convertible Preferred Stock  $0.001   $25    1,000,000   $176,000    7,040 
Series B Convertible Preferred Stock  $0.001   $1,000    60,000    3,000,000    3,000 
Series C Convertible Preferred Stock  $0.001   $1,000    75,000    50,000,000    50,000 
Series D Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,000,000    14,640,000    585,613 
Series E Cumulative Redeemable Perpetual Preferred Stock  $0.001   $25    2,500,000    16,250,000    649,998 
Series F Exchangeable Preferred Stock  $0.001   $1,000    1,000,000    999,000    998,577 
Series G Convertible Preferred Stock  $0.001   $1,000    25,000    960,000    960 
Series H Convertible Preferred Stock  $0.001   $1,000    100,000    4,000,000    4,000 
Unallocated             18,240,000    -    - 
Total             25,000,000   $90,025,000    2,299,188 
v3.26.1
NET LOSS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of net loss per share
          
   March 31, 2026   March 31, 2025 
Convertible preferred stock   373,900,000    30,071,000 
Convertible notes   51,179,000    7,403,000 
Stock options   

6,200,000

    - 
Warrants   639,000    622,000 
Total   431,918,000    38,096,000 
v3.26.1
SEGMENT AND CUSTOMERS INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of operating segments
                                             
   Gresham   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $-   $11,001,000   $-   $-   $11,001,000 
Revenue, defense solutions   10,182,000    -    -    -    -    -    -    -    10,182,000 
Revenue, crypto assets mining   -    -    -    5,077,000    -    -    -    -    5,077,000 
Revenue, hotel and real estate operations   -    -    -    253,000    3,603,000    -    -    -    3,856,000 
Revenue, lending and trading activities   -    -    11,521,000    -    -    -    -    -    11,521,000 
Revenue, other        1,736,000    -    -    -    -    1,000    705,000    2,442,000 
Total revenue   10,182,000    1,736,000    11,521,000    5,330,000    3,603,000    11,001,000    1,000    705,000    44,079,000 
Cost of revenue   7,036,000    923,000    1,944,000    7,610,000    2,990,000    7,180,000    -    1,327,000    29,010,000 
Gross profit (loss)   3,146,000    813,000    9,577,000    (2,280,000)   613,000    3,821,000    1,000    (622,000)   15,069,000 
Operating expenses                                             
General and administrative   2,563,000    993,000    9,000    957,000    1,357,000    2,192,000    1,643,000    8,812,000    18,526,000 
Selling and marketing   454,000    308,000    -    -    -    -    89,000    4,761,000    5,612,000 
Research and development   400,000    133,000    -    -    -    -    1,550,000    2,717,000    4,800,000 
Change in fair value of crypto assets   -    -    -    11,437,000    -    -    -    650,000    12,087,000 
Total operating expenses   3,417,000    1,434,000    9,000    12,394,000    1,357,000    2,192,000    3,282,000    16,940,000    41,025,000 
(Loss) income from operations  $(271,000)  $(621,000)  $9,568,000   $(14,674,000)  $(744,000)  $1,629,000   $(3,281,000)  $(17,562,000)   (25,956,000)
Other income (expense):                                             
Interest and other income                                           769,000 
Interest expense                                           (6,546,000)
Gain on extinguishment of debt                                           489,000 
Change in fair value of embedded derivative liabilities                                           1,324,000 
Total other expense, net                                           (3,964,000)
Loss before income taxes                                          $(29,920,000)
                                              
Depreciation and amortization expense  $537,000   $8,000   $-   $3,542,000   $708,000   $1,021,000   $23,000   $536,000   $6,375,000 
                                              
Interest expense  $(376,000)  $(226,000)  $-   $(1,000)  $(3,410,000)  $(271,000)  $(319,000)  $(1,943,000)  $(6,546,000)
                                              
Capital expenditures for the three months
ended March 31, 2026		  $65,000   $-   $-   $6,523,000   $120,000   $1,482,000   $14,000   $2,362,000   $10,566,000 
                                              
Segment identifiable assets as of March 31, 2026  $39,365,000   $4,961,000   $18,145,000   $85,992,000   $65,719,000   $42,683,000   $680,000   $51,907,000   $309,452,000 

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended March 31, 2025:

 

   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $13,769,000   $-   $-   $13,769,000 
Revenue, crypto assets mining   -    -    5,198,000    -    -    -    -    5,198,000 
Revenue, hotel and real estate operations   -    -    516,000    3,149,000    -    -    -    3,665,000 
Revenue, lending and trading activities   -    (28,000)   -    -    -    -    -    (28,000)
Revenue, other   1,592,000    -    -    -    29,000    (1,000)   797,000    2,417,000 
Total revenue   1,592,000    (28,000)   5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,021,000 
Cost of revenue   861,000    -    7,031,000    2,844,000    8,364,000    206,000    432,000    19,738,000 
Gross profit (loss)   731,000    (28,000)   (1,317,000)   305,000    5,434,000    (207,000)   365,000    5,283,000 
Operating expenses                                        
Research and development   125,000    -    -    -    -    4,000    -    129,000 
Selling and marketing   246,000    -    -    -    -    2,088,000    -    2,334,000 
General and administrative   1,138,000    120,000    (51,000)   1,363,000    2,337,000    -    4,297,000    9,204,000 
Total operating expenses   1,509,000    120,000    (51,000)   1,363,000    2,337,000    2,092,000    4,297,000    11,667,000 
(Loss) income from operations  $(778,000)  $(148,000)  $(1,266,000)  $(1,058,000)  $3,097,000   $(2,299,000)  $(3,932,000)   (6,384,000)
Other income (expense):                                        
Interest and other income                                      240,000 
Interest expense                                      (3,839,000)
Loss on extinguishment of debt                                      (4,569,000)
Gain on deconsolidation of subsidiary                                      10,049,000 
Loss on the sale of fixed assets                                      (161,000)
Total other expense, net                                      1,720,000 
Loss before income taxes                                     $(4,664,000)
                                         
Depreciation and amortization expense  $19,000   $-   $2,584,000   $972,000   $1,128,000   $19,000   $479,000   $5,201,000 
                                         
Interest expense  $(7,000)  $-   $(1,000)  $(1,839,000)  $(903,000)  $(225,000)  $(864,000)  $(3,839,000)
                                         
Capital expenditures for the year ended March 31, 2025  $-   $-   $1,621,000   $95,000   $1,138,000   $23,000   $3,000   $2,880,000 
                                         
Segment identifiable assets as of March 31, 2025  $2,855,000   $20,271,000   $33,851,000   $68,116,000   $46,399,000   $1,001,000   $45,761,000   $218,254,000 
v3.26.1
CONCENTRATIONS OF CREDIT AND REVENUE RISK (Tables)
 3 Months Ended
Mar. 31, 2026
Concentrations Of Credit And Revenue Risk  
Schedule of concentrations of credit and revenue risk
                    
   Accounts Receivable   Revenue 
   March 31,   December 31,   For the Three Months Ended March 31, 
   2026   2025   2026   2025 
Customer A   *    *    12%   21%
Customer B   12%   13%   *    * 
Customer C   *    *    23%   * 
Customer D   30%   25%   12%   * 

 

*less than 10%
v3.26.1
REVENUE DISAGGREGATION (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Total revenue $ 44,079,000 $ 25,021,000
Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 44,079,000  
Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   11,280,000
Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,023,000  
Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000 13,769,000
Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,077,000 5,198,000
Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,856,000 3,665,000
Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,078,000 1,592,000
Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 6,065,000  
Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,481,000 825,000
Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 32,558,000 25,049,000
Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,521,000 (28,000)
Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 21,535,000  
Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 32,558,000  
Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   25,021,000
Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   13,769,000
Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 32,558,000 25,049,000
North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 23,916,000 24,956,000
North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,521,000 (28,000)
Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,630,000 35,000
Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 7,012,000 58,000
Gresham [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 10,182,000  
Gresham [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 10,182,000  
Gresham [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 10,182,000  
Gresham [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Gresham [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   1,592,000
Gresham [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Gresham [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Gresham [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Gresham [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,342,000  
Gresham [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 6,065,000  
Gresham [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 775,000  
Gresham [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 10,182,000  
Gresham [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Gresham [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 10,182,000  
Gresham [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 10,182,000  
Gresham [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,752,000  
Gresham [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Gresham [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,630,000  
Gresham [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 6,800,000  
Turn On Green [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,736,000 1,592,000
Turn On Green [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,736,000  
Turn On Green [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,714,000 1,592,000
Turn On Green [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 22,000
Turn On Green [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Turn On Green [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Turn On Green [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Turn On Green [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Turn On Green [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,736,000 1,592,000
Turn On Green [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Turn On Green [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Turn On Green [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,736,000 1,592,000
Turn On Green [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Turn On Green [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,736,000  
Turn On Green [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   1,592,000
Turn On Green [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,736,000 1,592,000
Turn On Green [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,524,000 1,528,000
Turn On Green [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Turn On Green [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 6,000
Turn On Green [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 212,000 58,000
Fintech [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,521,000 (28,000)
Fintech [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,521,000  
Fintech [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   5,714,000
Fintech [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Fintech [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,521,000 (28,000)
Fintech [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Fintech [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   (28,000)
Fintech [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,521,000 (28,000)
Fintech [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Fintech [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000 5,714,000
Sentinum [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000  
Sentinum [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   5,714,000
Sentinum [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Sentinum [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   3,149,000
Sentinum [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,077,000 5,198,000
Sentinum [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 253,000 516,000
Sentinum [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Sentinum [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000 5,714,000
Sentinum [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000  
Sentinum [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000  
Sentinum [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   5,714,000
Sentinum [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Sentinum [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000 5,714,000
Sentinum [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 5,330,000 5,714,000
Sentinum [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Sentinum [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000 3,149,000
AGREE [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000  
AGREE [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   3,149,000
AGREE [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
AGREE [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   13,798,000
AGREE [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000 3,149,000
AGREE [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
AGREE [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000 3,149,000
AGREE [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000  
AGREE [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000  
AGREE [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   3,149,000
AGREE [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
AGREE [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000 3,149,000
AGREE [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 3,603,000 3,149,000
AGREE [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
AGREE [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Energy [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000 13,798,000
Energy [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000  
Energy [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   29,000
Energy [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000  
Energy [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   (1,000)
Energy [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000 13,769,000
Energy [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Energy [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Energy [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Energy [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Energy [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 29,000
Energy [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000 13,798,000
Energy [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Energy [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Energy [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000  
Energy [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   13,798,000
Energy [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   13,769,000
Energy [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000 13,798,000
Energy [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 11,001,000 13,769,000
Energy [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Energy [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 29,000
Energy [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000 (1,000)
ROI [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000  
ROI [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   (1,000)
ROI [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
ROI [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   797,000
ROI [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
ROI [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000 (1,000)
ROI [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000 (1,000)
ROI [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000  
ROI [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000  
ROI [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   (1,000)
ROI [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
ROI [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000 (1,000)
ROI [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 1,000 (1,000)
ROI [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
ROI [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000 797,000
Holding Company [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000  
Holding Company [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   797,000
Holding Company [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Holding Company [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   25,049,000
Holding Company [Member] | Crane Rental [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Revenue from mined crypto assets at Sentinum owned and operated facilities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Hotel and real estate operations [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Power supply units and systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Defense Systems [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Holding Company [Member] | Other [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000 797,000
Holding Company [Member] | Revenues from contract with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000 797,000
Holding Company [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Transferred at Point in Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000  
Holding Company [Member] | Revenue from contracts with customer [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000  
Holding Company [Member] | Total [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue   797,000
Holding Company [Member] | Transferred over Time [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue  
Holding Company [Member] | Revenue from Contract with Customer Benchmark [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000 797,000
Holding Company [Member] | North America [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue 705,000 797,000
Holding Company [Member] | North America [Member] | Revenue lending and trading activities [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Europe [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
Holding Company [Member] | Middle East [Member]    
Disaggregation of Revenue [Line Items]    
Total revenue
v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - Fair Value, Recurring [Member] - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments in other equity securities - embedded conversion feature $ 2,913,000  
Investments in other equity securities - warrants 285,000  
Total liabilities measured at fair value 252,000 $ 1,576,000
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments in other equity securities - embedded conversion feature  
Investments in other equity securities - warrants  
Total liabilities measured at fair value
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments in other equity securities - embedded conversion feature  
Investments in other equity securities - warrants  
Total liabilities measured at fair value
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments in other equity securities - embedded conversion feature 2,913,000  
Investments in other equity securities - warrants 285,000  
Total liabilities measured at fair value $ 252,000 $ 1,576,000
v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) - Fair Value, Inputs, Level 3 [Member] - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investments in other equity securities - embedded conversion feature [Member]    
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]    
Balance at beginning of period  
Fair Value Adjustments 1,300,000  
Grants 1,613,000  
Balance at end of period 2,913,000  
Investments in other equity securities - warrants [Member]    
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]    
Balance at beginning of period  
Fair Value Adjustments (800,000)  
Grants 1,085,000  
Balance at end of period 285,000  
Warrant and embedded conversion feature liabilities [Member]    
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]    
Balance at beginning of period 1,576,000
Fair Value Adjustments (1,324,000)
Grants 2,269,000
Balance at end of period $ 252,000 $ 2,269,000
v3.26.1
CRYPTO ASSETS (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Crypto assets $ 26,251,000 $ 46,197,000
Crypto assets, restricted [1] 16,666,000
Total crypto assets holdings $ 42,917,000 $ 46,197,000
[1] The Company’s crypto assets, restricted includes Bitcoin pledged as collateral for the convertible promissory notes issued to JGB entities. See Note 12.
v3.26.1
CRYPTO ASSETS (Details 1) - Crypto Assets [Member] - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Property, Plant and Equipment [Line Items]    
Beginning balance $ 46,197,000 $ 182,000
Additions of mined crypto assets 5,077,000 5,198,000
Purchases of crypto assets 3,760,000
Sale of crypto assets (5,227,000)
Transferred to crypto assets, restricted (21,360,000)
Unrealized (loss) gain on crypto assets (7,405,000) (8,000)
Other (18,000) (43,000)
Ending balance $ 26,251,000 $ 102,000
v3.26.1
CRYPTO ASSETS (Details 2)
 3 Months Ended
Mar. 31, 2026
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Balance at January 1
Transferred to crypto assets, restricted 21,360,000
Unrealized loss on crypto assets, restricted (4,682,000)
Other (11,000)
Balance at March 31 $ 16,666,000
v3.26.1
PROPERTY AND EQUIPMENT, NET (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 195,290,000 $ 184,321,000
Accumulated depreciation and amortization (48,240,000) (42,333,000)
Property and equipment, net 147,050,000 141,988,000
Building and Building Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 89,954,000 85,355,000
Crypto Assets Mining Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 28,637,000 27,245,000
Crane Rental Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 35,657,000 33,368,000
Computer software and related equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 14,489,000 13,807,000
Aircraft [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 15,983,000 15,983,000
Other property and equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 10,570,000 $ 8,563,000
v3.26.1
PROPERTY AND EQUIPMENT, NET (Details 1) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Property, Plant and Equipment [Abstract]    
Depreciation expense $ 6,001,000 $ 5,075,000
v3.26.1
INTANGIBLE ASSETS, NET (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Indefinite-Lived Intangible Assets [Line Items]    
Intangible assets, gross $ 14,683,000 $ 14,571,000
Accumulated amortization (1,266,000) (898,000)
Total definite-lived intangible assets 13,417,000 13,673,000
Developed Technology [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Intangible assets, gross $ 5,756,000 5,684,000
Developed Technology [Member] | Minimum [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Useful Life 5 years  
Developed Technology [Member] | Maximum [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Useful Life 10 years  
Customer Lists [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Intangible assets, gross $ 6,380,000 6,358,000
Customer Lists [Member] | Minimum [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Useful Life 8 years  
Customer Lists [Member] | Maximum [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Useful Life 12 years  
Trade Names [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Intangible assets, gross $ 2,547,000 $ 2,529,000
Trade Names [Member] | Minimum [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Useful Life 10 years  
Trade Names [Member] | Maximum [Member]    
Indefinite-Lived Intangible Assets [Line Items]    
Useful Life 15 years  
v3.26.1
INTANGIBLE ASSETS, NET (Details 1) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization expense $ 374,000 $ 126,000
v3.26.1
INTANGIBLE ASSETS, NET (Details 2)
Mar. 31, 2026
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 (remainder) $ 1,099,000
2027 1,465,000
2028 1,465,000
2029 1,465,000
2030 1,448,000
Thereafter 6,475,000
Finite-Lived Intangible Assets, Net $ 13,417,000
v3.26.1
INTANGIBLE ASSETS, NET (Details Narrative)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Estimated useful lives description intangible assets subject to amortization have an average remaining useful life of 6.6 years.
v3.26.1
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Payables and Accruals [Abstract]    
Accounts payable $ 32,549,000 $ 19,076,000
Accrued participation profits payable to investors 6,065,000
Accrued payroll and payroll taxes 3,318,000 4,520,000
Interest payable 2,477,000 2,752,000
Accrued legal 1,066,000 1,139,000
Other accrued expenses 15,127,000 11,720,000
Total $ 60,602,000 $ 39,207,000
v3.26.1
NOTES PAYABLE (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Short-Term Debt [Line Items]    
Total notes payable $ 91,216,000 $ 83,121,000
Unamortized debt discounts (78,000)
Total notes payable, net 91,138,000 83,121,000
Less: current portion (88,772,000) (82,055,000)
Notes payable - long-term portion $ 2,366,000 1,066,000
AGREE Secured Construction Loans [Member]    
Short-Term Debt [Line Items]    
Collateral AGREE hotels  
Interest rate 10.00%  
Effective rate [1] 12.00%  
Due date Jan. 01, 2027  
Total notes payable $ 68,750,000 68,750,000
Circle 8 Revolving Credit Facility [Member]    
Short-Term Debt [Line Items]    
Collateral Circle 8 cranes with a book value of $27.1 million  
Interest rate 9.00%  
Effective rate [1] 9.00%  
Due date Jun. 16, 2026  
Total notes payable $ 6,801,000 7,205,000
Circle 8 equipment financing notes [Member]    
Short-Term Debt [Line Items]    
Collateral Circle 8 equipment with a book value of $3.0 million  
Interest rate 6.00%  
Effective rate [1] 6.00%  
Due date Mar. 05, 2031  
Total notes payable $ 3,345,000 2,171,000
Term Note [Member]    
Short-Term Debt [Line Items]    
Interest rate 12.00%  
Effective rate [1] 77.00%  
Due date Apr. 27, 2026  
Total notes payable $ 6,634,000
Other [Member]    
Short-Term Debt [Line Items]    
Interest rate 6.00%  
Total notes payable $ 5,686,000 $ 4,995,000
[1] Includes forbearance and extension fees and original issue discount (“OID”) costs that are amortized to interest expense over the life of the notes.
v3.26.1
NOTES PAYABLE (Details 1)
Mar. 31, 2026
USD ($)
Debt Disclosure [Abstract]  
2026 (remainder) $ 88,850,000
2027 757,000
2028 640,000
2029 526,000
2030 320,000
Thereafter 123,000
Total $ 91,216,000
v3.26.1
NOTES PAYABLE (Details 2) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Debt Disclosure [Abstract]    
Contractual interest expense $ 4,877,000 $ 3,775,000
Forbearance fees 74,000 12,000
Amortization of debt discount 1,595,000 52,000
Total interest expense $ 6,546,000 $ 3,839,000
v3.26.1
NOTES PAYABLE (Details Narrative) - USD ($)
$ in Thousands
 1 Months Ended 2 Months Ended
Mar. 31, 2026
Jan. 31, 2026
Feb. 28, 2026
AGREE Construction Loans [Member]      
Debt Instrument [Line Items]      
Interest rate, description   Term SOFR plus 5.75%  
Principal payment   $ 3,000  
Monthly principal payments   2,000  
Extension fee   $ 300  
Circle 8 Financing [Member]      
Debt Instrument [Line Items]      
Principal amount $ 1,500    
Interest rate 5.90%    
Term Notes [Member]      
Debt Instrument [Line Items]      
Monthly principal payments     $ 10,000
Proceeds from loans     $ 100
v3.26.1
NOTES PAYABLE, RELATED PARTY (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]    
Notes payable, related party $ 901,000 $ 1,686,000
Ault and company demand promissory note [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Interest rate 10.00%  
Effective rate 9.50%  
Notes payable, related party $ 850,000 1,635,000
Notes from officers turn on green in default [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Interest rate 14.00%  
Effective rate 14.00%  
Notes payable, related party $ 51,000 $ 51,000
v3.26.1
NOTES PAYABLE, RELATED PARTY (Details 1) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Notes Payable Related Party    
Interest expense, related party $ 28,000 $ 2,000
v3.26.1
CONVERTIBLE NOTES (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Total convertible notes payable $ 17,757,000 $ 19,551,000
Fair value of embedded options and derivatives 252,000 1,576,000
Less: unamortized debt discounts (4,387,000) (4,958,000)
Total convertible notes payable, net of financing cost, long term 13,370,000 14,593,000
Less: current portion (4,899,000) (6,750,000)
Convertible notes payable, net of financing cost long-term portion $ 8,471,000 7,843,000
Convertible promissory notes issued to JGB entities [Member]    
Debt Instrument [Line Items]    
Interest rate 13.00%  
Effective rate [1] 32.00%  
Total convertible notes payable $ 12,768,000 12,768,000
Convertible Promissory Note [Member]    
Debt Instrument [Line Items]    
Due date Dec. 30, 2027  
SJC convertible promissory note [Member]    
Debt Instrument [Line Items]    
Interest rate 15.00%  
Effective rate [1] 15.00%  
Due date Jun. 30, 2026  
Total convertible notes payable $ 2,786,000 2,786,000
ROI Senior Secured Convertible Note [Member]    
Debt Instrument [Line Items]    
Effective rate [1] 15.00%  
Due date Apr. 27, 2024  
Total convertible notes payable $ 631,000 1,981,000
Turn On Green Convertible Promissory Note [Member]    
Debt Instrument [Line Items]    
Interest rate 12.00%  
Effective rate [1] 21.00%  
Due date Mar. 27, 2027  
Total convertible notes payable $ 1,320,000 $ 440,000
[1] Includes forbearance and extension fees and OID costs that are amortized to interest expense over the life of the notes.
v3.26.1
CONVERTIBLE NOTES PAYABLE (Details 1) - Embedded Derivatives [Member] - $ / shares
 3 Months Ended
Apr. 15, 2025
Mar. 31, 2026
Debt Instrument [Line Items]    
Risk-free interest rate 3.60% 3.70%
Expected volatility 108.00% 130.00%
Credit-risk adjusted rate 27.00% 41.00%
Time to maturity (years) 1 year 8 months 12 days 1 year
Stock price at valuation date $ 0.81 $ 0.15
Dividend yield 0.00% 0.00%
v3.26.1
CONVERTIBLE NOTES PAYABLE (Details 2)
Mar. 31, 2026
USD ($)
Debt Instrument [Line Items]  
Convertible notes payable $ 91,216,000
Convertible Debt [Member]  
Debt Instrument [Line Items]  
2026 (remainder) 4,737,000
2027 12,768,000
Convertible notes payable $ 17,505,000
v3.26.1
CONVERTIBLE NOTES (Details Narrative) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Debt Instrument [Line Items]    
Loss on extinguishment of convertible notes $ 489,000 $ (4,569,000)
Convertible Debt [Member]    
Debt Instrument [Line Items]    
Loss on extinguishment of convertible notes $ 4,600,000  
v3.26.1
STOCKHOLDERS' EQUITY (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, shares authorized 25,000,000 25,000,000
Liquidation preference $ 90,088,000 $ 90,025,000
Preferred stock, shares issued 2,301,686 2,299,188
Preferred stock, shares outstanding 2,301,686 2,299,188
Series A Convertible Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 25 $ 25
Preferred stock, shares authorized 1,000,000 1,000,000
Liquidation preference $ 176,000 $ 176,000
Preferred stock, shares issued 7,040 7,040
Preferred stock, shares outstanding 7,040 7,040
Series B Convertible Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 1,000 $ 1,000
Preferred stock, shares authorized 60,000 60,000
Liquidation preference $ 3,000,000 $ 3,000,000
Preferred stock, shares issued 3,000 3,000
Preferred stock, shares outstanding 3,000 3,000
Series C Convertible Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 1,000 $ 1,000
Preferred stock, shares authorized 75,000 75,000
Liquidation preference $ 50,000,000 $ 50,000,000
Preferred stock, shares issued 50,000 50,000
Preferred stock, shares outstanding 50,000 50,000
Series D Cumulative Redeemable Perpetual Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 25 $ 25
Preferred stock, shares authorized 2,000,000 2,000,000
Liquidation preference $ 14,703,000 $ 14,640,000
Preferred stock, shares issued 588,111 585,613
Preferred stock, shares outstanding 588,111 585,613
Series E Redeemable Perpetual Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 25 $ 25
Preferred stock, shares authorized 2,500,000 2,500,000
Liquidation preference $ 16,250,000 $ 16,250,000
Preferred stock, shares issued 649,998 649,998
Preferred stock, shares outstanding 649,998 649,998
Series F Exchangeable Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 1,000 $ 1,000
Preferred stock, shares authorized 1,000,000 1,000,000
Liquidation preference $ 999,000 $ 999,000
Preferred stock, shares issued 998,577 998,577
Preferred stock, shares outstanding 998,577 998,577
Series G Convertible Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 1,000 $ 1,000
Preferred stock, shares authorized 25,000 25,000
Liquidation preference $ 960,000 $ 960,000
Preferred stock, shares issued 960 960
Preferred stock, shares outstanding 960 960
Series H Convertible Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, stated value per share $ 1,000 $ 1,000
Preferred stock, shares authorized 100,000 100,000
Liquidation preference $ 4,000,000 $ 4,000,000
Preferred stock, shares issued 4,000 4,000
Preferred stock, shares outstanding 4,000 4,000
Unallocated Shares [Member]    
Class of Stock [Line Items]    
Preferred stock, shares authorized 18,240,000 18,240,000
Liquidation preference
Preferred stock, shares issued
Preferred stock, shares outstanding
v3.26.1
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)
 1 Months Ended 3 Months Ended
Feb. 13, 2026
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Class of Stock [Line Items]        
Proceeds from sale of stock   $ 10,645,000  
Preferred stock, par value   $ 0.001   $ 0.001
Preferred stock, shares authorized   25,000,000   25,000,000
Class A Common Stock [Member]        
Class of Stock [Line Items]        
Number of shares issued   $ 46,600,000    
Proceeds from sale of stock   10,600,000    
Series D Convertible Preferred Stock [Member]        
Class of Stock [Line Items]        
Number of shares issued   2,498    
Preferred stock, par value $ 0.001      
Aggregate offering price $ 35,400,000      
Proceeds from preferred stock   $ 53,000    
v3.26.1
INCOME TAXES (Details Narrative)
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
U.S. Federal statutory income tax rates 21.00%
v3.26.1
NET LOSS PER SHARE (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 431,918,000 38,096,000
Convertible Preferred Stock [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 373,900,000 30,071,000
Convertible Notes [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 51,179,000 7,403,000
Stock Options [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 6,200,000
Warrant [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 639,000 622,000
v3.26.1
SEGMENT AND CUSTOMERS INFORMATION (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting Information [Line Items]    
Cost of revenue $ 29,010,000 $ 19,738,000
Gross profit (loss) 15,069,000 5,283,000
Operating expenses    
Selling and marketing 5,612,000 2,334,000
Research and development 4,800,000 129,000
Change in fair value of crypto assets 7,405,000 9,000
Total operating expenses 36,343,000 11,667,000
(Loss) income from operations (21,274,000) (6,384,000)
Other income (expense):    
Interest expense 6,546,000 3,839,000
Loss on extinguishment of debt 489,000 (4,569,000)
Gain on deconsolidation of subsidiary 10,049,000
Change in fair value of embedded derivative liabilities 1,324,000
Total other expense, net (8,646,000) 1,720,000
Loss before income taxes (29,920,000) (4,664,000)
Operating Segments [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations 11,001,000 13,769,000
Revenue, defense solutions 10,182,000  
Revenue, crypto assets mining 5,077,000 5,198,000
Revenue, hotel and real estate operations 3,856,000 3,665,000
Revenue, lending and trading activities 11,521,000 (28,000)
Revenue, other 2,442,000 2,417,000
Total revenue 44,079,000 25,021,000
Cost of revenue 29,010,000 19,738,000
Gross profit (loss) 15,069,000 5,283,000
Operating expenses    
General and administrative 18,526,000 9,204,000
Selling and marketing 5,612,000 2,334,000
Research and development 4,800,000 129,000
Change in fair value of crypto assets 12,087,000  
Total operating expenses 41,025,000 11,667,000
(Loss) income from operations (25,956,000) (6,384,000)
Other income (expense):    
Interest and other income 769,000 240,000
Interest expense (6,546,000) (3,839,000)
Loss on extinguishment of debt 489,000 (4,569,000)
Gain on deconsolidation of subsidiary   10,049,000
Loss on the sale of fixed assets   (161,000)
Change in fair value of embedded derivative liabilities 1,324,000  
Total other expense, net (3,964,000) 1,720,000
Loss before income taxes (29,920,000) (4,664,000)
Depreciation and amortization expense 6,375,000 5,201,000
Interest expense (6,546,000) (3,839,000)
Capital expenditures for the year ended March 31, 2025 10,566,000 2,880,000
Segment identifiable assets as of March 31, 2025 309,452,000 218,254,000
Operating Segments [Member] | Gresham [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations  
Revenue, defense solutions 10,182,000  
Revenue, crypto assets mining  
Revenue, hotel and real estate operations  
Revenue, lending and trading activities  
Total revenue 10,182,000  
Cost of revenue 7,036,000  
Gross profit (loss) 3,146,000  
Operating expenses    
General and administrative 2,563,000  
Selling and marketing 454,000  
Research and development 400,000  
Change in fair value of crypto assets  
Total operating expenses 3,417,000  
(Loss) income from operations (271,000)  
Other income (expense):    
Depreciation and amortization expense 537,000  
Interest expense (376,000)  
Capital expenditures for the year ended March 31, 2025 65,000  
Segment identifiable assets as of March 31, 2025 39,365,000  
Operating Segments [Member] | Turn On Green [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations
Revenue, defense solutions  
Revenue, crypto assets mining
Revenue, hotel and real estate operations
Revenue, lending and trading activities
Revenue, other 1,736,000 1,592,000
Total revenue 1,736,000 1,592,000
Cost of revenue 923,000 861,000
Gross profit (loss) 813,000 731,000
Operating expenses    
General and administrative 993,000 1,138,000
Selling and marketing 308,000 246,000
Research and development 133,000 125,000
Change in fair value of crypto assets  
Total operating expenses 1,434,000 1,509,000
(Loss) income from operations (621,000) (778,000)
Other income (expense):    
Depreciation and amortization expense 8,000 19,000
Interest expense (226,000) (7,000)
Capital expenditures for the year ended March 31, 2025
Segment identifiable assets as of March 31, 2025 4,961,000 2,855,000
Operating Segments [Member] | Fintech [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations
Revenue, defense solutions  
Revenue, crypto assets mining
Revenue, hotel and real estate operations
Revenue, lending and trading activities 11,521,000 (28,000)
Revenue, other
Total revenue 11,521,000 (28,000)
Cost of revenue 1,944,000
Gross profit (loss) 9,577,000 (28,000)
Operating expenses    
General and administrative 9,000 120,000
Selling and marketing
Research and development
Change in fair value of crypto assets  
Total operating expenses 9,000 120,000
(Loss) income from operations 9,568,000 (148,000)
Other income (expense):    
Depreciation and amortization expense
Interest expense
Capital expenditures for the year ended March 31, 2025
Segment identifiable assets as of March 31, 2025 18,145,000 20,271,000
Operating Segments [Member] | Sentinum [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations
Revenue, defense solutions  
Revenue, crypto assets mining 5,077,000 5,198,000
Revenue, hotel and real estate operations 253,000 516,000
Revenue, lending and trading activities
Revenue, other
Total revenue 5,330,000 5,714,000
Cost of revenue 7,610,000 7,031,000
Gross profit (loss) (2,280,000) (1,317,000)
Operating expenses    
General and administrative 957,000 (51,000)
Selling and marketing
Research and development
Change in fair value of crypto assets 11,437,000  
Total operating expenses 12,394,000 (51,000)
(Loss) income from operations (14,674,000) (1,266,000)
Other income (expense):    
Depreciation and amortization expense 3,542,000 2,584,000
Interest expense (1,000) (1,000)
Capital expenditures for the year ended March 31, 2025 6,523,000 1,621,000
Segment identifiable assets as of March 31, 2025 85,992,000 33,851,000
Operating Segments [Member] | AGREE [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations
Revenue, defense solutions  
Revenue, crypto assets mining
Revenue, hotel and real estate operations 3,603,000 3,149,000
Revenue, lending and trading activities
Revenue, other
Total revenue 3,603,000 3,149,000
Cost of revenue 2,990,000 2,844,000
Gross profit (loss) 613,000 305,000
Operating expenses    
General and administrative 1,357,000 1,363,000
Selling and marketing
Research and development
Change in fair value of crypto assets  
Total operating expenses 1,357,000 1,363,000
(Loss) income from operations (744,000) (1,058,000)
Other income (expense):    
Depreciation and amortization expense 708,000 972,000
Interest expense (3,410,000) (1,839,000)
Capital expenditures for the year ended March 31, 2025 120,000 95,000
Segment identifiable assets as of March 31, 2025 65,719,000 68,116,000
Operating Segments [Member] | Energy [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations 11,001,000 13,769,000
Revenue, defense solutions  
Revenue, crypto assets mining
Revenue, hotel and real estate operations
Revenue, lending and trading activities
Revenue, other 29,000
Total revenue 11,001,000 13,798,000
Cost of revenue 7,180,000 8,364,000
Gross profit (loss) 3,821,000 5,434,000
Operating expenses    
General and administrative 2,192,000 2,337,000
Selling and marketing
Research and development
Change in fair value of crypto assets  
Total operating expenses 2,192,000 2,337,000
(Loss) income from operations 1,629,000 3,097,000
Other income (expense):    
Depreciation and amortization expense 1,021,000 1,128,000
Interest expense (271,000) (903,000)
Capital expenditures for the year ended March 31, 2025 1,482,000 1,138,000
Segment identifiable assets as of March 31, 2025 42,683,000 46,399,000
Operating Segments [Member] | ROI [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations
Revenue, defense solutions  
Revenue, crypto assets mining
Revenue, hotel and real estate operations
Revenue, lending and trading activities
Revenue, other 1,000 (1,000)
Total revenue 1,000 (1,000)
Cost of revenue 206,000
Gross profit (loss) 1,000 (207,000)
Operating expenses    
General and administrative 1,643,000
Selling and marketing 89,000 2,088,000
Research and development 1,550,000 4,000
Change in fair value of crypto assets  
Total operating expenses 3,282,000 2,092,000
(Loss) income from operations (3,281,000) (2,299,000)
Other income (expense):    
Depreciation and amortization expense 23,000 19,000
Interest expense (319,000) (225,000)
Capital expenditures for the year ended March 31, 2025 14,000 23,000
Segment identifiable assets as of March 31, 2025 680,000 1,001,000
Operating Segments [Member] | Holding Company [Member]    
Segment Reporting Information [Line Items]    
Revenue, crane operations
Revenue, defense solutions  
Revenue, crypto assets mining
Revenue, hotel and real estate operations
Revenue, lending and trading activities
Revenue, other 705,000 797,000
Total revenue 705,000 797,000
Cost of revenue 1,327,000 432,000
Gross profit (loss) (622,000) 365,000
Operating expenses    
General and administrative 8,812,000 4,297,000
Selling and marketing 4,761,000
Research and development 2,717,000
Change in fair value of crypto assets 650,000  
Total operating expenses 16,940,000 4,297,000
(Loss) income from operations (17,562,000) (3,932,000)
Other income (expense):    
Depreciation and amortization expense 536,000 479,000
Interest expense (1,943,000) (864,000)
Capital expenditures for the year ended March 31, 2025 2,362,000 3,000
Segment identifiable assets as of March 31, 2025 $ 51,907,000 $ 45,761,000
v3.26.1
CONCENTRATIONS OF CREDIT AND REVENUE RISK (Details) - Customer Concentration Risk [Member]
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Accounts Receivable [Member] | Customer A [Member]    
Product Information [Line Items]    
Concentration risk, percentage 12.00% 21.00%
Accounts Receivable [Member] | Customer C [Member]    
Product Information [Line Items]    
Concentration risk, percentage 23.00%  
Accounts Receivable [Member] | Customer D [Member]    
Product Information [Line Items]    
Concentration risk, percentage 12.00%  
Revenue Benchmark [Member] | Customer B [Member]    
Product Information [Line Items]    
Concentration risk, percentage 12.00% 13.00%
Revenue Benchmark [Member] | Customer D [Member]    
Product Information [Line Items]    
Concentration risk, percentage 30.00% 25.00%
v3.26.1
SUBSEQUENT EVENTS (Details Narrative) - USD ($)
 1 Months Ended 3 Months Ended
Apr. 02, 2026
May 15, 2026
Apr. 30, 2026
Mar. 31, 2026
Mar. 31, 2026
Apr. 16, 2026
Apr. 15, 2026
Circle 8 Financing [Member]              
Subsequent Event [Line Items]              
Principal amount       $ 1,500,000 $ 1,500,000    
Interest rate       5.90%      
Class A Common Stock [Member]              
Subsequent Event [Line Items]              
Gross proceeds from sale of shares         46,600,000    
Series D Convertible Preferred Stock [Member]              
Subsequent Event [Line Items]              
Gross proceeds from sale of shares         $ 2,498    
Subsequent Event [Member]              
Subsequent Event [Line Items]              
Common stock, shares authorized           2,500,000,000 500,000,000
Subsequent Event [Member] | Term Note [Member]              
Subsequent Event [Line Items]              
Proceeds from short term debt     $ 10,000,000.0        
Original issue discount     800,000        
Principal amount     $ 10,800,000        
Interest rate     12.00%        
Periodic payments     $ 700,000        
Received cash proceeds from litigation $ 16,600,000            
Subsequent Event [Member] | Circle 8 Financing [Member]              
Subsequent Event [Line Items]              
Principal amount     10,000,000.0        
Periodic payments     $ 200,000        
Interest rate, description     The note bears interest at a variable rate based on the five-year U.S. Treasury rate plus 2%, with an initial rate of approximately 5.7%.        
Subsequent Event [Member] | Class A Common Stock [Member]              
Subsequent Event [Line Items]              
Number of shares issued   91,100,000          
Gross proceeds from sale of shares   $ 14,000,000.0          
Subsequent Event [Member] | Series D Convertible Preferred Stock [Member]              
Subsequent Event [Line Items]              
Number of shares issued   20,245          
Gross proceeds from sale of shares   $ 400,000