The company operates a primary self-owned mining site in Duff, Tennessee, where it runs bitcoin mining operations and holds related property, equipment and digital assets. In January 2025, the company announced a significant expansion of its operations through a new 10MW hosting facility in Memphis. The company is pursuing capacity expansion while managing operations in a volatile crypto environment.
Cyborg Score Rationale
The stock trades at $0.99 per share (as of May 29, 2026) with a market cap of approximately $2.4M. The company has faced regulatory compliance challenges and operates at scale that limits competitive advantage in the highly capital-intensive bitcoin mining sector. Revenue growth shows traction but absolute scale remains constrained.
Top Insights
Filed Form 20-F for fiscal 2025 reporting $9.13 million revenue (+37% vs 2024) and $3.68 million gross profit (~40% margin)
Q3 2025 Duff facility revenue reached $1.61M (+27.5% YoY) with profit of $0.76M, up from $0.39M in Q3 2024
Completed $2.1M registered direct offering (February 2026) to fund general corporate purposes and working capital
Low stock price reflects valuation pressure and scale constraints in competitive mining landscape
Named Competitors
Marathon Digital — Large-scale Bitcoin mining operations
Riot Blockchain — Bitcoin mining and blockchain infrastructure
Hut 8 — Bitcoin mining and digital asset management
Recent Developments
(April 2026) Filed Annual Report on Form 20-F for fiscal year ended December 31, 2025
(February 2026) Closed $2.1 million registered direct offering of ordinary shares and pre-funded warrants
(December 2025) Announced Q3 2025 results showing continued progress at Tennessee sites
(January 2025) Announced expansion through new 10MW hosting facility in Memphis
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