LM Funding America (LMFA) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 12, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Title of 12(b) Security	Common Stock par value $0.001 per share
Security Exchange Name	NASDAQ
Trading Symbol	LMFA
Entity Registrant Name	LM FUNDING AMERICA, INC.
Entity Central Index Key	0001640384
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,528,857
Entity File Number	001-37605
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3844457
Entity Address, Address Line One	1200 West Platt Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33606
City Area Code	813
Local Phone Number	222-8996
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash	$ 145,648	$ 2,401,831
Digital assets (Note 2)	10,032,104	3,416,256
Finance receivables	34,295	19,221
Marketable securities (Note 5)	22,140	17,860
Receivable from sale of Symbiont assets (Note 5)	200,000	200,000
Prepaid expenses and other assets	848,423	4,067,212
Income tax receivable	31,187	31,187
Current assets	11,488,326	10,153,567
Fixed assets, net (Note 3)	19,671,511	24,519,610
Deposits on mining equipment (Note 4)	20,847	20,837
Long-term investments - equity securities (Note 5)	11,155	156,992
Investment in Seastar Medical Holding Corporation (Note 5)	$ 785,565	$ 1,145,486
Investment, Issuer Affiliation [Extensible Enumeration]	us-gaap:InvestmentAffiliatedIssuerMember	us-gaap:InvestmentAffiliatedIssuerMember
Operating lease - right of use assets (Note 7)	$ 136,430	$ 189,009
Other assets	86,798	86,798
Long-term assets	22,648,825	27,559,230
Total assets	34,137,151	37,712,797
Liabilities and stockholders' equity
Accounts payable and accrued expenses	1,346,352	2,064,909
Note payable - short-term (Note 6)	1,583,753	567,586
Due to related parties (Note 10)	$ 53,575	$ 22,845
Other Liability, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Current portion of lease liability (Note 7)	$ 117,153	$ 110,384
Total current liabilities	3,100,833	2,765,724
Lease liability - net of current portion (Note 7)	25,962	85,775
Long-term liabilities	25,962	85,775
Total liabilities	3,126,795	2,851,499
Stockholders' equity (Note 9)
Preferred stock, par value $.001; 150,000,000 shares authorized; no shares issued and outstanding as of June 30, 2024 and December 31, 2023
Common stock, par value $.001; 350,000,000 shares authorized; 2,492,964 shares issued and outstanding as of June 30, 2024 and 2,492,964 as of December 31, 2023	2,493	2,493
Additional paid-in capital	95,443,307	95,145,376
Accumulated deficit	(62,930,465)	(58,961,461)
Total LM Funding America stockholders' equity	32,515,335	36,186,408
Non-controlling interest	(1,504,979)	(1,325,110)
Total stockholders’ equity	31,010,356	34,861,298
Total liabilities and stockholders’ equity	34,137,151	37,712,797
Seastar Medical [Member]
ASSETS
Notes receivable net of current portion		$ 1,440,498
Tech Infrastructure JV I LLC [Member]
ASSETS
Current portion of notes receivable	174,529
Notes receivable net of current portion	$ 1,936,519

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	150,000,000	150,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	2,492,964	2,492,964
Common stock, shares outstanding	2,492,964	2,492,964

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Digital mining revenues	$ 2,893,073	$ 2,968,322	$ 7,490,981	$ 5,059,173
Specialty finance revenue	89,036	190,173	205,664	373,009
Rental revenue	29,238	37,155	62,306	76,986
Total revenues	3,011,347	3,195,650	7,758,951	5,509,168
Operating costs and expenses:
Digital mining cost of revenues (exclusive of depreciation and amortization shown below)	2,357,111	2,361,825	5,012,057	4,029,498
Depreciation and amortization	2,339,702	1,169,120	4,765,770	1,970,993
Loss (gain) on fair value of Bitcoin, net	1,265,485		(2,992,030)
Impairment loss on mining equipment	0		1,188,058
Impairment loss on mined digital assets		239,599		439,153
Realized gain on sale of mined digital assets		(646,458)		(1,070,791)
Professional fees	484,335	236,974	994,228	809,330
Selling, general and administrative	195,681	242,559	373,587	482,023
Real estate management and disposal	31,097	69,355	58,286	101,158
Collection costs	20,416	(373)	21,342	9,435
Settlement costs with associations		10,000		10,000
Other operating costs	223,112	205,943	437,617	457,854
Total operating costs and expenses	7,754,827	6,351,984	11,939,829	10,634,928
Operating loss	(4,743,480)	(3,156,334)	(4,180,878)	(5,125,760)
Unrealized gain (loss) on marketable securities	6,440	(1,412)	4,280	4,378
Impairment loss on prepaid machine deposits				(36,691)
Unrealized loss on investment and equity securities	(1,856,737)	(3,716,681)	(505,758)	(9,539,535)
Gain on fair value of purchased Bitcoin, net			57,926
Realized gain on sale of purchased digital assets				1,917
Gain on adjustment of note receivable allowance		1,052,543		1,052,543
Loss on disposal of assets	(33,887)		(42,057)
Other income - coupon sales		25,721	4,490	629,312
Other income - financing revenue		37,660		37,660
Interest expense	(36,893)		(107,719)
Interest income	17,228	116,147	26,353	171,224
Loss before income taxes	(6,647,329)	(5,642,356)	(4,743,363)	(12,804,952)
Income tax expense	0	0	0	0
Net Loss	(6,647,329)	(5,642,356)	(4,743,363)	(12,804,952)
Less: loss attributable to non-controlling interest	574,474	1,093,177	160,253	2,869,441
Net loss attributable to LM Funding America Inc.	$ (6,072,855)	$ (4,549,179)	$ (4,583,110)	$ (9,935,511)
Basic loss per common share	$ (2.44)	$ (2.08)	$ (1.87)	$ (4.55)
Diluted loss per common share	$ (2.44)	$ (2.08)	$ (1.87)	$ (4.55)
Weighted average number of common shares outstanding:
Basic	2,485,822	2,189,123	2,457,012	2,185,572
Diluted	2,485,822	2,189,123	2,457,012	2,185,572
Service [Member]
Operating costs and expenses:
Staff costs and payroll	$ 837,888	$ 2,463,440	$ 2,080,914	$ 3,396,275

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,743,363)	$ (12,804,952)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	4,765,770	1,970,993
Noncash lease expense	52,579	47,874
Stock compensation	76,322	564,930
Stock option expense	221,609	1,342,095
Accrued investment income	(25,265)	(91,864)
Digital assets other income	(4,490)
Gain on fair value of Bitcoin, net	(3,049,956)
Impairment loss on mining machines	1,188,058
Impairment loss on digital assets		439,153
Impairment loss on hosting deposits		36,691
Unrealized gain on marketable securities	(4,280)	(4,378)
Unrealized loss on investment and equity securities	505,758	9,539,535
Loss on disposal of fixed assets	42,057
Realized gain on sale of digital assets		(1,072,708)
Reversal of allowance loss on debt security		(1,052,543)
Change in operating assets and liabilities:
Prepaid expenses and other assets	3,218,789	(85,713)
Hosting deposits		(193,897)
Advances (repayments) to related party	30,730	(7,271)
Accounts payable and accrued expenses	(718,557)	434,241
Mining of digital assets	(7,490,981)	(5,059,173)
Proceeds from sale of digital assets		4,579,676
Lease liability payments	(53,044)	(45,913)
Net cash used in operating activities	(5,988,264)	(1,463,224)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,226,602)	(1,744,609)
Proceeds from sale of fixed assets	78,806
Investment in Tech Infrastructure JV I LLC note receivable	(2,094,351)
Collection of notes receivable	1,449,066	1,661,171
Investment in digital assets		(35,157)
Proceeds from sale of digital assets	4,543,685	43,678
Symbiont asset acquisition		(402,359)
Distribution to members	(19,616)
Net cash from (used in) investing activities	2,715,914	(464,571)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	1,500,000
Insurance financing repayments	(483,833)	(357,649)
Insurance financing		1,227
Issue costs from the issuance of common stock		(106,550)
Net cash from (used in) financing activities	1,016,167	(462,972)
NET DECREASE IN CASH	(2,256,183)	(2,390,767)
CASH - BEGINNING OF PERIOD	2,401,831	4,238,006
CASH - END OF PERIOD	145,648	1,847,239
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
ROU assets and operating lease obligation recognized		21,887
Reclassification of mining equipment deposit to fixed assets, net		1,172,888
Change in accounting principle (see Note 1)	614,106
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION
Cash paid for interest	134,751
Original Product [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Net collections of finance receivables	(14,443)	(1,824)
Special Product [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Net collections of finance receivables	$ (631)	$ 14,529

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Non-Controlling Interest [Member]
Balance at Dec. 31, 2022	$ 50,797,229		$ 2,233	$ 92,206,200	$ (43,017,207)		$ 1,606,003
Balance, shares at Dec. 31, 2022			2,232,964
Stock option expense	194,356			194,356
Net income (loss)	(7,162,596)				(5,386,332)		(1,776,264)
Balance at Mar. 31, 2023	43,828,989		$ 2,233	92,400,556	(48,403,539)		(170,261)
Balance, shares at Mar. 31, 2023			2,232,964
Balance at Dec. 31, 2022	50,797,229		$ 2,233	92,206,200	(43,017,207)		1,606,003
Balance, shares at Dec. 31, 2022			2,232,964
Net income (loss)	(12,804,952)
Balance at Jun. 30, 2023	39,899,302		$ 2,493	94,112,965	(52,952,718)		(1,263,438)
Balance, shares at Jun. 30, 2023			2,492,964
Balance at Mar. 31, 2023	43,828,989		$ 2,233	92,400,556	(48,403,539)		(170,261)
Balance, shares at Mar. 31, 2023			2,232,964
Stock option expense	1,147,739			1,147,739
Issuance of restricted stock	564,930		$ 260	564,670
Issuance of restricted stock, Shares			260,000
Net income (loss)	(5,642,356)				(4,549,179)		(1,093,177)
Balance at Jun. 30, 2023	39,899,302		$ 2,493	94,112,965	(52,952,718)		(1,263,438)
Balance, shares at Jun. 30, 2023			2,492,964
Balance at Dec. 31, 2023	34,861,298		$ 2,493	95,145,376	(58,961,461)		(1,325,110)
Balance, shares at Dec. 31, 2023			2,492,964
Stock option expense	110,804			110,804
Stock compensation	71,047			71,047
Net income (loss)	1,903,966				1,489,745		414,221
Balance at Mar. 31, 2024	37,561,221	$ 614,106	$ 2,493	95,327,227	(56,857,610)	$ 614,106	(910,889)
Balance, shares at Mar. 31, 2024			2,492,964
Balance at Dec. 31, 2023	34,861,298		$ 2,493	95,145,376	(58,961,461)		(1,325,110)
Balance, shares at Dec. 31, 2023			2,492,964
Net income (loss)	(4,743,363)
Balance at Jun. 30, 2024	31,010,356		$ 2,493	95,443,307	(62,930,465)		(1,504,979)
Balance, shares at Jun. 30, 2024			2,492,964
Balance at Mar. 31, 2024	37,561,221	$ 614,106	$ 2,493	95,327,227	(56,857,610)	$ 614,106	(910,889)
Balance, shares at Mar. 31, 2024			2,492,964
Stock option expense	110,805			110,805
Stock compensation	5,275			5,275
Member distributions	(19,616)						(19,616)
Net income (loss)	(6,647,329)				(6,072,855)		(574,474)
Balance at Jun. 30, 2024	$ 31,010,356		$ 2,493	$ 95,443,307	$ (62,930,465)		$ (1,504,979)
Balance, shares at Jun. 30, 2024			2,492,964

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (6,072,855)	$ (4,549,179)	$ (4,583,110)	$ (9,935,511)

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations LM Funding America, Inc. (“we”, “our”, “LMFA” or the “Company”) was formed as a Delaware corporation on April 20, 2015. LMFA is the sole member of several entities including LM Funding, LLC, which was organized in January 2008, US Digital Mining and Hosting Co., LLC, which was formed on September 10, 2021 (“US Digital”); LMFA Financing LLC, formed on November 23, 2020, and LMFAO Sponsor LLC, formed on October 29, 2020 (LMFA is a majority member of LMFAO Sponsor LLC). Additionally, US Digital has formed various 100 % owned subsidiaries to engage in business in various states in connection with its Bitcoin mining business. LMFAO Sponsor LLC formed a majority owned subsidiary LMF Acquisition Opportunities Inc. (“LMAO”) on October 29, 2020 which was organized as a special purpose acquisition company that that completed an initial public offering in January 2021, whereupon the Company ceased to be majority owned by LMFA. LMF Acquisition Opportunities Inc. was subsequently merged with Seastar Medical Holding Corporation on October 28, 2022. The Company also from time to time organizes other subsidiaries to serve a specific purpose or hold a specific asset. Lines of Business The Company currently operates two lines of business: our cryptocurrency mining business and our specialty finance business. The Bitcoin mining operation deploys our computing power to mine Bitcoin on the Bitcoin network. We conduct this business through our wholly owned subsidiary, US Digital, a Florida limited liability company, which we formed in 2021 to develop and operate our cryptocurrency mining business. With respect to our specialty finance business, the Company has historically engaged in the business of providing funding to nonprofit community associations primarily located in the state of Florida. We offer incorporated nonprofit community associations, which we refer to as “Associations,” a variety of financial products customized to each Association’s financial needs. Bitcoin Mining Business We obtain Bitcoin as a result of our mining operations, and we sell Bitcoin from time to time, to support our operations and strategic growth. We plan to convert our Bitcoin to U.S. dollars. We may engage in regular trading of Bitcoin or engage in hedging activities related to our holding of Bitcoin. However, our decisions to hold or sell Bitcoin at any given time may be impacted by the Bitcoin market, which has been historically characterized by significant volatility. Currently, we do not use a formula or specific methodology to determine whether or when we will sell Bitcoin that we hold, or the number of Bitcoins we will sell. Rather, decisions to hold or sell Bitcoins are currently determined by management based on working cash needs and by monitoring the market in real time. As of June 30, 2024 and December 31, 2023 , the Company had approximately 5,900 machines, which amounted to operating units capable of producing over 639 petahash and 615 petahash, respectively, per second (“EH/s”) of computing power. Specialty Finance Company In our specialty finance business, we purchase an Association’s right to receive a portion of the Association’s collected proceeds from owners that are not paying their assessments. After taking assignment of an Association’s right to receive a portion of the Association’s proceeds from the collection of delinquent assessments, we engage law firms to perform collection work on a deferred billing basis wherein the law firms receive payment upon collection from the account debtors or a predetermined contracted amount if payment from account debtors is less than legal fees and costs owed. Principles of Consolidation The consolidated financial statements include the accounts of LMFA and its wholly-owned subsidiaries: LM Funding, LLC; LMF October 2010 Fund, LLC; REO Management Holdings, LLC (including all 100 % owned subsidiary limited liability companies); LM Funding of Colorado, LLC; LM Funding of Washington, LLC; LM Funding of Illinois, LLC; US Digital (includes all 100 % owned subsidiary limited liability companies) and LMF SPE #2, LLC and various single purpose limited liability corporations owned by REO Management Holdings, LLC which own various properties. It also includes LMFA Sponsor, LLC (a 69.5 % owned subsidiary). All significant intercompany balances have been eliminated in consolidation. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim consolidated financial statements as of June 30, 2024 and for the three and six months ended June 30, 2024 and June 30, 2023, respectively, are unaudited. In the opinion of management, the interim consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the interim periods. The accompanying consolidated balance sheet as of December 31, 2023, is derived from the audited consolidated financial statements presented in the Company’s Annual Report on Form 10-K for fiscal the year ended December 31, 2023. Recently adopted accounting pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-08, Intangible - Goodwill and Other -Crypto Assets (Subtopic 350-60) (“ASC 350-60”). ASC 350-60 requires entities with certain crypto assets to subsequently measure such assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. Crypto assets that meet all the following criteria are within the scope of the ASC 350-60: (1) meet the definition of intangible assets as defined in the Codification (2) do not provide the asset holder with enforceable rights to or claims on underlying goods, services, or other assets (3) are created or reside on a distributed ledger based on blockchain or similar technology (4) are secured through cryptography (5) are fungible, and (6) are not created or issued by the reporting entity or its related parties. Bitcoin, which is the sole crypto asset mined by the Company, meets each of these criteria. For all entities, the ASC 350-60 amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance). If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. The Company has elected to early adopt the new guidance effective January 1, 2024 resulting in a $ 614 thousand cumulative-effect change to adjust the Company's Bitcoin held on January 1, 2024 with the corresponding entry to beginning accumulated deficit. Segment and Reporting Unit Information Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Chief Executive Officer and Chief Financial Officer of the Company comprise the CODM, as a group. The Company has two operating segments as of June 30, 2024, which we refer to as Specialty Finance and Mining Operations. Our corporate oversight function and other components that may earn revenues that are only incidental to the activities of the Company are aggregated and included in the “All Other” category. Refer to Note 9 - Segment Information. Reclassification Certain prior period immaterial amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on the reported results of operations. Liquidity The accompanying consolidated financial statements of the Company have been prepared assuming the Company will continue as a going concern. The going concern basis of presentation assumes that the Company will continue in operation one year after the date these financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. The evaluation of going concern under the accounting guidance requires significant judgment which involves the Company to consider that it has historically incurred losses in recent years as it has prepared to grow its business through expansion and acquisition opportunities. The Company must also consider its current liquidity as well as future market and economic conditions that may be deemed outside the control of the Company as it relates to obtaining financing and generating future profits. As of June 30, 2024, the Company had $ 0.1 million available cash on-hand and Bitcoin with a fair market value of $ 10.0 million. After considering its current liquidity and future market and economic conditions, the Company has concluded there is no substantial doubt about the Company’s ability to continue as a going concern. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates include the evaluation of probable losses on balances due from a related party, the realization of deferred tax assets, the evaluation of contingent losses related to litigation and reserves on notes receivables. We consider our critical accounting estimates to be those related to long-lived asset impairment assessments. Our estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the consolidated financial statements. Cash The Company maintains cash balances at several financial institutions that are insured under the Federal Deposit Insurance Corporation’s (“FDIC”) Transition Account Guarantee Program. Balances with the financial institutions may exceed federally insured limits. As of June 30, 2024 and December 31, 2023 we have approximately nil and $ 2.2 million of cash in various institutions that exceed the FDIC or SIPC insurance coverage limit of $ 250,000 . Digital Assets Bitcoin are included in current assets in the consolidated balance sheets due to the Company’s ability to sell Bitcoin in a highly liquid marketplace and such Bitcoin holdings are expected to be realized in cash or sold or consumed during the normal operating cycle of the Company. As a result of adopting ASC 350-60 on January 1, 2024, Bitcoin is measured at fair value as of each reporting period (see Recently Issued Accounting Pronouncements). The fair value of Bitcoin is measured using the period-end closing Bitcoin price from its principal market in accordance with ASC 820, Fair Value Measurement. Since Bitcoin is traded on a 24-hour period, the Company utilizes the price as of midnight UTC time, which aligns with the Company's revenue recognition cut-off. The increase and decrease in fair value from each reporting period is reflected on the consolidated statements of operation as "Gain on fair value of Bitcoin, net". The Company sells Bitcoin and such gains and losses from such transactions are measured as the difference between the cash proceeds and the carrying basis of Bitcoin as determined on a First In-First Out ("FIFO") basis and are recorded within "Gain on fair value of Bitcoin, net". Prior to issuance of the ASU 2023-08 and adoption of ASC 350-60, Bitcoin were recorded at cost less impairment and were classified as indefinite-lived intangible assets in accordance with ASC 350, Intangibles — Goodwill and Other. An intangible asset with an indefinite useful life was not amortized but was assessed for impairment annually, or more frequently, when events or changes in circumstances occurred indicating that it was more likely than not that the carrying amount of the indefinite-lived asset exceeded its fair value. The Company determined the fair value of Bitcoin in accordance with ASC 820, Fair Value Measurement, based on lowest intraday quoted prices from our principal market for such assets (Level 1 inputs). We performed an analysis each month to identify whether events or changes in circumstances indicate that it is more likely than not that our digital assets were impaired. If the carrying value of a digital asset exceeded the fair value so determined, an impairment loss had occurred with respect to those digital assets in the amount equal to the difference between their carrying values and the fair value. To the extent an impairment loss was recognized, the loss established the new cost basis of the asset and subsequent reversal of impairment losses was not permitted under ASC 350, Intangibles – Goodwill and Other. Additionally, in the previous guidance, subsequent increases in Bitcoin prices are not allowed to be recorded (unrealized gains) unless the Bitcoin is sold, at which point the gain is recognized. Accordingly, gains (losses) recognized on fair value of Bitcoin in fiscal year 2024 are not comparable to fiscal year 2023. Bitcoin, which is non-cash consideration earned by the Company through its mining activities, are included as a reconciling item as a cash outflow within operating activities on the accompanying consolidated statements of cash flows. The cash proceeds from the sales of Bitcoin are classified based on the holding period in which the Bitcoin are held. ASC 350-60 specifies that Bitcoin converted nearly immediately into cash would qualify as cash flows from operating activities and all oth er sales would qualify as investing activities. In prior fiscal periods, the Company did not hold its Bitcoin for extended periods of time and such sales proceeds prior to the adoption of ASC 350-60 were reported as cash flows from operating activities. Upon adoption of ASC 350-60, the Company evaluates its sales of Bitcoin and will record Bitcoin sold nearly immediately as operating cash flows and the remainder will be recorded as investing activities. During the six months ended June 30, 2024, all proceeds from Bitcoin sales were classified as investing activities. Investment in Securities Investment in Securities includes investments in common stocks and convertible notes receivables. Investments in securities are reported at fair value with changes in unrecognized gains or losses included in other income on the income statement. Investments in Unconsolidated Entities We account for investments in less than 50 % owned and more than 20 % owned entities using the equity method of accounting. Because we have elected the fair value option for these securities, unrealized holding gains and losses during the period are included in other income within the Consolidated Statements of Operation. Fair Value of Financial Instruments FASB ASC 825-10, Financial Instruments , requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet. Fixed Assets The Company capitalizes all acquisitions of fixed assets in excess of $ 500 . Fixed assets are stated at cost, net of accumulated depreciation. State and local use tax for equipment shipped from overseas is generally accrued on a quarterly basis at the time equipment is placed in service and is paid to the state in which the equipment is being utilized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets and commences once the assets are ready for their intended use. Fixed assets are comprised of furniture, computer, office equipment, buildings and mining machines with assigned useful lives of 3 to 30 years. The Company classifies mining machine deposit payments within "Deposits on mining equipment" in the consolidated balance sheets. As mining machines are received, the respective cost of the mining machines plus the related shipping and customs fees are reclassified from "Deposits on mining equipment" to "Fixed assets, net" in the consolidated balance sheets. Refer to Note 4 - Deposits on Mining Equipment and Hosting Services. In addition, as part of its periodic review of its fixed asset groups during the fourth quarter of 2023, the Company changed the estimated useful life for its mining machines from 5 years to 4 years . The change was accounted for on a prospective basis. The Company operates in an emerging industry for which limited data is available to make estimates of the useful economic lives of mining machines. To the extent that any of the assumptions underlying management’s estimate of useful life of its mining machines are subject to revision in a future reporting period, either as a result of changes in circumstances or through the availability of greater quantities of data, then the estimated useful life could change and have a prospective impact on depreciation expense and the carrying amounts of these assets. Equipment Purchases We ordered 300 S21 Bitmain machines in January 2024 for an aggregate purchase price of approximately $ 1.1 million which were delivered in two shipments during March 2024 and April 2024. Right to Use Assets The Company capitalizes all leased assets pursuant to ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. As of June 30, 2024 and December 31, 2023 right to use assets, net of accumulated amortization, was $ 136 thousand and $ 189 thousand. Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment amount is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was nil and $ 1.2 million impairment loss recorded on fixed assets during the three and six months ended June 30, 2024, respectively, and nil impairment loss recorded on fixed assets during the three and six months ended June 30, 2023, respectively. Refer to Note 3 - Fixed Assets. Hosting Contracts The Company currently uses three companies to host its miners: Core Scientific Inc. ("Core"), Giga Energy Inc ("GIGA") and Tech Infrastructure JV I LLC ("Tech Infrastructure"). On September 5, 2022, the Company, through its wholly-owned subsidiary US Digital, entered into a hosting agreement (the “Core Hosting Agreement”) with Core pursuant to which Core, under various additional orders, agreed to host approximately 3,000 of the Company's Bitcoin miner machines at a secure location and provide power, maintenance and other services specified in the contract with a term of one year, with automatic renewals unless either party notifies the other party in writing not less than ninety ( 90 ) calendar days before such renewal of its desire for the order not to renew unless terminated sooner pursuant to the terms of the Core Hosting Agreement. The Company entered into a number of amendments in 2023 and 2024 that resulted in Core hosting a total of approximately 4,870 miners. The amended Hosting Agreement results in the terms of the hosting arrangement expiring with respect to approximately 4,000 miners on May 31, 2024 while allowing the terms of the hosting arrangement to continue with respect to approximately 800 miners through December 31, 2024. As required under the Core Hosting Agreement, the Company paid a $ 2.2 million deposit as of December 31, 2023. Under the terms of the amended Hosting Agreement, the deposit related to the 4,000 miners that were removed was applied to our invoices. As of June 30, 2024 and December 31, 2023, the Company had nil and $ 2.1 million of the prepaid deposit remaining with Core, respectively. In December 2022, Core filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. Core's bankruptcy filing has not negatively impacted our mining ability at their sites as of the date of this filing. On May 5, 2023, the Company entered into a hosting agreement (the “GIGA Hosting Agreement”) with GIGA pursuant to which GIGA agreed to host 1,080 of the Company's Bitcoin Miner S19J Pro machines at a secure location and provide power, maintenance and other services specified in the contract with a term of one year. On April 12, 2024, the Company amended the contract to allow for an extension of the contract with a 60 day termination notice. As required under the GIGA Hosting Agreemen t, the Company paid $ 173 thousand as a pre-payment in May 20 23 and paid a refundable deposit of $ 173 thousand in August 2023. As of June 30, 2024 and December 31, 2023, respectively, t he Company had approximately $ 88 thousand and $ 117 thousand of prepaid deposits remaining with GIGA, respectively. Since June 30, 2024, all of the machines hosted by Giga have been moved to a third-party warehouse and are awaiting a new hosting site. On May 6, 2024, the Company entered into a hosting agreement (the “Arthur Hosting Agreement”) with Tech Infrastructure pursuant to which Tech Infrastructure agreed to host approximately 3,000 of the Company's Bitcoin Miner S19J Pro machines at a secure location and provide power, maintenance and other services specified in the contract with a term of nine months. On July 17, 2024, the Company amended the contract to allow for an extension of the contract of one month. Revenue Recognition – Bitcoin Mining We recognize revenue in accordance with generally accepted accounting principles as outlined in ASC 606, Revenue From Contracts with Customers, which requires that five steps be followed in evaluating revenue recognition: (i) identify the contract with the customer; (ii) identity the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price; and (v) recognize revenue when or as the entity satisfied a performance obligation. Our accounting policy on revenue recognition for our Bitcoin mining segment is provided below. Step 1: The Company enters into a contract with a Bitcoin mining pool operator (i.e., the customer) to provide computing power to the mining pools. The contract is terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company starts providing computing power to the mining pool operator (which occurs daily at midnight Universal Time Coordinated (UTC)). When participating in ratable share pools, in exchange for providing computing power the Company is entitled to a fractional share of the Bitcoin award the mining pool operator receives for successfully adding a block to the blockchain, plus a fractional share of the transaction fees attached to that blockchain. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. When participating in a Full Pay Per Share (“FPPS”) mining pool, in exchange for providing computing power to the pool the Company is entitled to compensation, calculated on a daily basis, at an amount that approximates the total Bitcoin that could have been mined using the Company’s computing power, calculated on a look-back basis across previous blocks using the pools hash rate index. Applying the criteria per ASC 606-10-25-1, the contract arises at the point that the Company provides computing power to the mining pool operator, which is beginning contract day at midnight UTC (contract inception), because customer consumption is in tandem with daily earnings of delivery of the computing power. Step 2: In order to identify the performance obligations in a contract with a customer, the Company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: • The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct); and • The entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). Based on these criteria, the Company has a single performance obligation in providing computing power services (i.e., hashrate) to the mining pool operator (i.e., customer). The performance obligation of computing power services is fulfilled daily over-time, as opposed to a point in time, because the Company provides the hashrate throughout the day and the customer simultaneously obtains control of it and uses the asset to produce Bitcoin. The Company has full control of the mining equipment utilized in the mining pool and if the Company determines it will increase or decrease the processing power of its machines and/or fleet (i.e., for repairs or when power costs are excessive) the computing power provided to the customer will be reduced. Step 3: The transaction consideration the Company earns is non-cash digital consideration in the form of Bitcoin, which the Company measures at fair value on the date earned at the daily closing price, which is not materially different from the fair value at contract inception. The transaction consideration the Company earns is all variable since it is dependent on the daily computing power provided by the Company under the FPPS model and total Bitcoin earned by the under the ratable share model. The Company’s Bitcoins earned through the contractual payout formula is not known until the Company’s computational hashrate contributed over the daily measurement period is fulfilled over-time daily between midnight-to-midnight UTC time. The Company’s proportionate amount of the global network transaction fee rewards earned are calculated at the end of each transactional day (midnight to midnight). There are no other forms of variable considerations, such as discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties, or other similar items. The Company does not constrain this variable consideration because it is probable that a significant reversal in the amount of revenue recognized from the contract will not occur when the uncertainty is subsequently resolved and recognizes the noncash consideration on the same day that control is transferred, which is the same day as contract inception. Step 4: The transaction price is allocated to the single performance obligation upon verification for the provision of computing power to the mining pool operator, and total Bitcoin rewards earned by the pool, when applicable under a ratable share model. There is a single performance obligation (i.e., computing power or (hashrate) for the contract; therefore, all consideration from the mining pool operator is allocated to this single performance obligation. Step 5: The Company’s performance is complete in transferring the hashrate service over-time (midnight to midnight) to the customer and the customer obtains control of that asset. In exchange for providing computing power, the Company is entitled to a pro-rata share of the fixed Bitcoin awards earned over the measurement period, plus a pro-rata fractional share of the global transaction fee rewards for the respective measurement period, less net digital asset fees due to the mining pool operator over the measurement period, as applicable. The transaction consideration the Company receives is non-cash consideration, in the form of Bitcoin. The Company measures the Bitcoin at fair value on the date earned using the closing price of Bitcoin on the date earned (midnight UTC), which is not materially different from the fair value at contract inception. There are no deferred revenues or other liability obligations recorded by the Company since there are no payments in advance of the performance. At the end of the 24 hour “midnight-to-midnight” period, there are no remaining performance obligations. Bitcoin earned by the Company through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. Cost of Revenues The Company includes energy costs and external co-location mining hosting fees in cost of revenues. Depreciation of mining machines is included within "Depreciation and amortization" in the Consolidated Statements of Operations. Revenue Recognition - Specialty Finance Accounting Standards Codification (“ASC”) 606 of the Financial Accounting Standards Board (“FASB”) states an entity needs to conclude at the inception of the contract that collectability of the consideration to which it will be entitled in exchange for the goods and services that will be transferred to the customer is probable. That is, in some circumstances, an entity may not need to assess its ability to collect all of the consideration in the contract. The Company provides funding to Associations by purchasing their rights under delinquent accounts from unpaid assessments due from property owners. Collections on the Accounts may vary greatly in both the timing and amount ultimately recovered compared with the total revenues earned on the Accounts because of a variety of economic and social factors affecting the real estate environment in general . The Company’s contracts with its specialty finance customers have very specific performance obligations. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities cannot be reasonably estimate and as such, classifies its finance receivables as nonaccrual and recognizes revenues in the accompanying statements of income on the cash basis or cost recovery method in accordance with ASC 310-10, Receivables . The Company’s operations also consist of rental revenue earned from tenants under leasing arrangements which provide for rent income. The leases have been accounted for as operating leases. For operating leases, revenue is recorded based on cash rental payments was collected during the period. The Company analyzed its remaining revenue streams and concluded there were no changes in revenue recognition with the adoption of the new standard. Under ASC 606, the Company applies the cash basis method to its original product and the cost recovery method to its special product as follows: Finance Receivables—Original Product : Under the Company’s original product, delinquent assessments are funded only up to the Super Lien Amount as discussed above. Recoverability of funded amounts is generally assured because of the protection of the Super Lien Amount. As such, payments by unit owners on the Company’s original product are recorded to income when received in accordance with the provisions of the Florida Statute (718.116(3)) and the provisions of the purchase agreements entered into between the Company and Associations. Those provisions require that all payments be applied in the following order: first to interest, then to late fees, then to costs of collection, then to legal fees expended by the Company and then to assessments owed. In accordance with the cash basis method of recognizing revenue and the provisions of the statute, the Comp

Digital Asset

Digital Asset	6 Months Ended
	Jun. 30, 2024
Digital Assets [Abstract]
Digital Asset	Note 2. Digital Asset Digital assets consisted of the following: June 30, 2024 December 31, 2023 June 30, 2023 Bitcoin $ 10,020,457 $ 3,406,096 $ 1,992,557 Tether 11,647 10,160 - Total digital assets $ 10,032,104 $ 3,416,256 $ 1,992,557 Bitcoin June 30, 2024 December 31, 2023 June 30, 2023 Number of Bitcoin held 160.4 95.1 79.1 Carrying basis - per Bitcoin $ 54,479 $ 35,816 $ 25,190 Fair value - per Bitcoin $ 62,668 $ 42,273 $ 30,469 Carrying basis of Bitcoin $ 8,738,376 $ 3,406,096 $ 1,992,557 Fair value of Bitcoin $ 10,020,457 $ 4,020,202 $ 2,410,098 The carrying basis represents the valuation of Bitcoin at the time the Company earns the Bitcoin through mining activities. The carrying basis for Bitcoin held prior to the adoption of ASU 2023-08 was determined on the "cost less impairment" basis. Fair value of Bitcoin was determined using Level 1 inputs. The following table presents a roll-forward of Bitcoin for the six months ended June 30, 2024, based on the fair value model under ASU 2023-08: June 30, 2024 Bitcoin as of December 31, 2023 $ 3,406,096 Cumulative effect of the adoption of ASU 2023-08 (See Note 1) 614,106 Beginning balance: Bitcoin as of January 1, 2024 4,020,202 Addition of Bitcoin from mining activities 7,490,981 Disposition of Bitcoin from sales ( 4,540,682 ) Gain on fair value of Bitcoin, net 3,049,956 End of period $ 10,020,457 During the three and six months ended June 30, 2024, the Company realized total gains on Bitcoin of nil and $ 521 thousand, respectively and realized total losses on Bitcoin of $ 127 thousand and $ 127 thousand, respectively. The following table presents a roll-forward of Bitcoin for the six months ended June 30, 2023, prior to the adoption of ASU 2023-08, based on the cost less impairment model under ASC 350: June 30, 2023 Beginning of year $ 888,026 Purchase of Bitcoin 35,157 Production of Bitcoin 5,059,173 Impairment loss on mined Bitcoin ( 439,153 ) Carrying amount of Bitcoin sold ( 3,550,646 ) End of period 1,992,557

Fixed Assets, net

Fixed Assets, net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Fixed Assets, net	Note 3. Fixed Assets, net The components of fixed assets as of June 30, 2024 and December 31, 2023 are as follows: Useful Life (Years) June 30, 2024 December 31, 2023 Mining machines 4 $ 29,249,432 $ 29,799,782 Real estate assets owned 30 80,057 80,057 Furniture, computer and office equipment 3 - 5 230,062 230,063 Gross fixed assets 29,559,551 30,109,902 Less: accumulated depreciation ( 9,888,040 ) ( 5,590,292 ) Fixed assets, net $ 19,671,511 $ 24,519,610 As of June 30, 2024 and December 31, 2023, there were approximately 5,900 miners located at various hosting sites. The Company’s depreciation expense recognized for the three and six months ended June 30, 2024 and 2023 was $ 2.3 million and $ 4.8 million, respectively for 2024 and was $ 1.2 million and $ 2.0 million, respectively for 2023. In order to accommodate an expected incoming shipment of S 21 mining machines in April 2024, management identified 365 mining machines at a Core hosting facility that would require relocation. As part of its impairment testing management considered the possible cashflows and probabilities associated with the relocation and continued use of 365 mining machines at a separate hosting facility location and the potential sale of such assets to a third-party. Based on the assessment performed, management concluded a sale was probable and an impairment of $ 1.2 million on the mining machines was recorded during the first quarter, which was calculated as the net carrying value of the 365 mining machines of $ 1.3 million less the expected sales price of $ 79 thousand. The loss was recorded on our Consolidated Statements of Operations as "Impairment loss on mining equipment" for the three and six months ended June 30, 2024 as nil and $ 1.2 million respectively. On April 16, 2024, the 365 mining machines were sold to a third-party for $ 79 thousand. There was no additional loss recognized upon the asset sale. There was no impairment loss recorded on fixed assets during the three and six months ended June 30, 2023.

Deposits On Mining Equipment an

Deposits On Mining Equipment and Hosting Services	6 Months Ended
	Jun. 30, 2024
Deposits on Mining Equipment and Hosting Services [Abstract]
Deposits on Mining Equipment and Hosting Services	Note 4. Deposits on Mining Equipment and Hosting Services As further described in Note 1, the Company has entered into a series of mining machine purchase agreements, hosting and colocation service agreements in connection with our cryptocurrency mining operations which required deposits to be paid in advance of the respective asset or service being received. As of June 30, 2024 and December 31, 2023, the Company had a total of $ 21 thousand classified as "Deposits on mining equipment". As of June 30, 2024 and December 31, 2023, the Company had a total of $ 0.4 million and $ 3.1 million in prepaid hosting services and hosting deposits, respectively, classified as "Prepaid expenses and Other assets".

Investments

Investments	6 Months Ended
	Jun. 30, 2024
Investments [Abstract]
Investments	Note 5. Investments Marketable Securities Our marketable equity securities are publicly traded stocks measured at fair value using quoted prices for identical assets in active markets and classified as Level 1 within the fair value hierarchy. Marketable equity securities as of June 30, 2024 and December 31, 2023, and activity for the six months ended June 30, 2024 and year ended December 31, 2023, are as follows: Cost Cost of Shares Sold Gross Unrealized Gain (Loss) Fair Value Marketable equity securities, June 30, 2024 $ 17,860 $ - $ 4,280 $ 22,140 Marketable equity securities, December 31, 2023 $ 743,906 $ ( 739,616 ) $ 13,570 $ 17,860 No marketable securities were sold during the three and six months ended June 30, 2024 and 2023. Notes receivable from Sale of Symbiont assets The Company entered into a secured promissory note and loan agreement with Symbiont.IO, Inc. (“Symbiont”) on December 1, 2021 under which the Company loaned Symbiont an aggregate principal amount of $ 2 million bearing interest at a rate of 16 % per annum. The outstanding principal, plus any accrued and unpaid interest, became due and payable on December 1, 2022 but was not paid. The Symbiont note was secured by a first priority perfected security interest in the assets of Symbiont. Symbiont filed for bankruptcy on December 1, 2022. On June 5, 2023, the Company purchased substantially all of the assets of Symbiont (the “Symbiont Assets”) by means of a credit bid of the full amount of the note payable owed by Symbiont to the Company. The Symbiont Assets were comprised principally of intellectual property and software code relating to Symbiont’s financial services blockchain enterprise platform. The assets were recorded as intangible assets at an amount equal to the total consideration of $ 2.8 million. On December 26, 2023, the Company entered into an asset purchase agreement with Platonic Holdings, Inc. (“Platonic”) pursuant to which we agreed to sell to Platonic the Symbiont Assets. The sale of the Symbiont Assets closed on December 27, 2023. The sales proceeds were $ 2.0 million, of which $ 0.2 million is being held in a customary indemnity escrow until December 26, 2024. Amounts held in escrow are recorded as "Receivable from the sale of Symbiont assets" in the consolidated balance sheets as of June 30, 2024 and December 31, 2023. Notes receivable from Seastar Medical Holding Corporation As of June 30, 2024, there was no outstanding principal and accrued interest and as of December 31, 2023, there was $ 1,127 thousand of principal and $ 13 thousand of accrued interest on the Amended Sponsor Note included in "Note receivable from Seastar Medical Holding Corporation" on the consolidated balance sheets. As of June 30, 2024, there was no outstanding principal and accrued interest and as of December 31, 2023, there was $ 296 thousand of principal and $ 3 thousand of accrued interest on the amended LMFA Note in "Notes receivable from Seastar Medical Holding Corporation" on the consolidated balance sheets. On January 29, 2024 Seastar fully repaid the remaining balance of principal and accrued interest on the Notes which totaled approximately $ 1.4 million as of the payoff date. June 30, 2024 December 31, 2023 June 30, 2023 Notes receivable from Seastar Medical Holding Corporation $ - $ 1,440,498 $ 2,238,442 End of period $ - $ 1,440,498 $ 2,238,442 June 30, 2024 June 30, 2023 Beginning of year $ 1,440,498 $ 3,807,749 Repayment of Seastar Medical Holding Corporation notes receivable ( 1,449,066 ) ( 1,661,171 ) Accrued interest income 8,568 91,864 End of period $ - $ 2,238,442 Long-term Investments On June 6, 2024, we, through our wholly-owned subsidiary LMFA Financing, LLC (“LMFAF”), entered into a Loan Agreement (the “Loan Agreement”) with Tech Infrastructure JV I LLC (“Tech Infrastructure”), pursuant to which LMFAF agreed to extend to Tech Infrastructure a non-revolving c redit line of up to $ 2.5 million (the “Loan”) to fund the completion and build out of a 15 MW hosting facility in Calumet, Oklahoma (the “Calumet Hosting Facility”) . Concurrent with entering into the Loan Agreement, US Digital Mining and Hosting Oklahoma, LLC, a subsidiary of the Company, entered into a hosting services agreement with Arthur Digital Assets, Inc. (“Arthur”) under which 3,000 of the Company’s Bitmain Antminer S19j Pro machines will be hosted at the Calumet Hosting Facility upon completion of the buildout. The Loan Agreement provides that Tech Infrastructure has the right to draw down advances of the Loan to fund specifically identified expenditures relating to the build-out of the Calumet Hosting Facility. The Loan bears interest at a rate equal to 14 % per annum, simple interest, through the date on which Arthur begins charging market pricing to US Digital Mining at the Hosting Facility (the “Change Date”), and 18 % per annum, simple interest, thereafter. Interest will accrue through the Change Date and be paid monthly after the Change Date, and payment of principal will be amortized over a period of 24 months following the Change Date. All unpaid principal and accrued but unpaid interest will be due and payable on the date that is 24 months after the Change Date. The Loan is secured by all of the personal property assets of Tech Infrastructure and a pledge of Arthur Group Inc.’s equity interest in Tech Infrastructure. As of June 30, 2024, $ 2.1 million has been loaned to Tech Infrastructure. On July 16, 2024 the Loan was amended to increase the credit line to $ 2.9 million and the site became active as of July 28, 2024. The amount of principal due within the next twelve months is included in "Current portion of notes receivable from Tech Infrastructure JV I LLC" on the consolidated balance sheets. I nvestments for the Loan consist of the following: June 30, 2024 December 31, 2023 June 30, 2023 Current portion of notes receivable from Tech Infrastructure JV I LLC $ 174,529 $ - $ - Notes receivable from Tech Infrastructure JV I LLC - net of current portion 1,936,519 End of period $ 2,111,048 $ - $ - June 30, 2024 June 30, 2023 Beginning of year $ - $ - Borrowings 2,094,351 - Accrued interest income 16,697 - End of period $ 2,111,048 $ - The Tech Infrastructure loan is considered a variable interest in a VIE for which we are not the primary beneficiary as the Company does not have the power to direct the activities that most significantly impact Tech Infrastructure’s economic performance, and accordingly, we do not consolidate. Other than the Loan, no additional financial support has been provided or is expected to be provided as it relates to Tech Infrastructure’s operations. Information regarding our involvement in the VIE as of June 30, 2024 is as follows: (in millions) Financial Statement Maximum Carrying Amount exposure to loss Tech Infrastructure JV I LLC $ 2.1 $ 2.1 The financial statement carrying amount consists of the loan principal and accrued interest accounted for at fair value. The maximum exposure to loss as of June 30, 2024 is limited to the financial statement carrying amount of our loan investment. Long-term investments held to maturity in equity securities consist of the following: LMF Acquisition Opportunities Inc. and SeaStar Medical - Warrants The Company, through its affiliate LMFA Sponsor LLC ("Sponsor"), owns an aggregate 5,738,000 private placement warrants in SeaStar Medical Holding Corporation, a Delaware corporation (“SeaStar Medical”). Effective June 7, 2024 Seastar Medical effected a 25-for-1 reverse stock split (the "Seastar Reverse Split"), and, after adjustment, the private placement warrants are exercisable into 229,520 shares of common stock. For the three and six months ended June 30, 2024 and 2023, our re-measurement of the fair value of the private placement warrants resulted in an unrealized loss of approximately $ 742 thousand and $ 146 thousand, respectively, for 2024 and an unrealized loss of approximately $ 0.2 million and $ 0.3 million, respectively, for 2023. The unrealized loss is included within "Unrealized loss on investment and equity securities" within the consolidated statements of operations. Long-term investments in Seastar Medical private placement warrants consist of the following: June 30, 2024 December 31, 2023 June 30, 2023 Seastar Medical Holding Corporation (formerly LMAO) warrants $ 11,155 $ 156,992 $ 188,493 End of period $ 11,155 $ 156,992 $ 188,493 June 30, 2024 June 30, 2023 Beginning of year $ 156,992 $ 464,778 Unrealized loss on equity securities ( 145,837 ) ( 276,285 ) End of period $ 11,155 $ 188,493 SeaStar Medical Holding Corporation - Common Stock As of June 30, 2024 and December 31, 2023, Sponsor holds 103,500 shares, as adjusted to reflect the Seastar Reverse Split, or approximately 3.5 % of the total outstanding common shares of SeaStar Medical. Tak ing into consideration the approximately 30 % minority interest in Sponsor, the percentage of ownership in the total outstanding common shares of SeaStar Medical that is attributable to the Compa ny is approximately 2.4 %. Our investment in SeaStar Medical common stock qualifies for equity-method accounting, for which we have elected the fair value option which requires the Company to remeasure our retained interest in SeaStar Medical at fair value and include any resulting adjustments as part of a gain or loss on investment. The fair value calculation related to our retained interest in SeaStar Medical is based upon the observable trading price of SeaStar Medicals Class A common stock. The Company determined that our investment in SeaStar Medical meets the criteria for the equity method of accounting, for which we have elected the fair value option. We remeasure our retained interest in SeaStar Medical's common stock at fair value and include any resulting adjustments as part of our gain or loss on investments. The fair value of our retained interest in SeaStar Medical's common stock is classified as Level 1 in the fair value hierarchy as the fair value is based upon the observable trading price of ICU common stock. The trading price of ICU common stock as of June 30, 2024 and 2023 was $ 7.59 and $ 13.00 pe r share, respectively. Changes in fair value are recorded in the income statement during the period of change. For the three and six months ended June 30, 2024 and 2023 , our re-measurement of the fair value of ICU common stock resulted in an unrealized loss of $ 1.1 million and $ 0.4 million, respectively, for 2024 and an unrealized loss of $ 3.5 million and $ 9.3 million, respectively, for 2023. The unrealized gain (loss) is included within "Unrealized loss on investment and equity securities" within the consolidated statements of operations. Long-term investments for the SeaStar Medical common stock consist of the following: June 30, 2024 December 31, 2023 June 30, 2023 Seastar Medical Holding Corporation common stock $ 785,565 $ 1,145,486 $ 1,345,500 End of period $ 785,565 $ 1,145,486 $ 1,345,500 June 30, 2024 June 30, 2023 Beginning of year $ 1,145,486 $ 10,608,750 Unrealized loss on equity investment ( 359,921 ) ( 9,263,250 ) End of period $ 785,565 $ 1,345,500 The net unrealized loss on securities from the Company’s investment in SeaStar Medical's common stock and warrants for the three and six months ended June 30, 2024 and 2023 totaled $ 1.9 million and $ 0.5 million, respectively, for 2024 and $ 3.7 million and $ 9.5 million, respectively, for 2023.

Debt and Other Financing Arrang

Debt and Other Financing Arrangements	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt and Other Financing Arrangements	Note 6. Debt and Other Financing Arrangements On May 13, 2024, the Company entered into a $ 1.5 million secured loan ("Secured Note") with Brown Family Enterprises LLC which pays ten percent ( 10 %) interest per annum, simple interest on a monthly basis until the Secured Note is paid in full. The note matures on May 14, 2025 . T he Company granted to the holders of the Secured Note a secured interest in substantially all of the Company's assets and interests. Debt of the Company consisted of the following at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Financing agreement with Imperial PFS that is unsecured. Down payment of $ 3,438 was required upfront and equal installment payments of $ 3,658 to be made over a 11 month period. The note matures on July 1, 2024 . Annualized interest is 12.05 %. - 21,945 Financing agreement with Imperial PFS that is unsecured. Down payment of $ 36,544 was required upfront and equal installment payments of $ 41,879 to be made over an 10 month period. The note matures on August 1, 2024 . Annualized interest is 9.6 %. 83,753 335,022 Financing agreement with Imperial PFS that is unsecured. Down payment of $ 30,000 was required upfront and equal installment payments of $ 35,103 to be made over a 6 month period. The note matured on June 1, 2024 . Annualized interest is 12.05 %. - 210,619 Secured loan with Brown Family Enterprises LLC. The note matures on May 14, 2025 . Interest is 10 % per annum. 1,500,000 - $ 1,583,753 $ 567,586 Minimum required principal payments on the Company's debt as of June 30, 2024 are as follows: Maturity Amount 2024 $ 83,753 2025 1,500,000 $ 1,583,753

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7. Commitments and Contingencies Leases The Company leases certain office space and office equipment under non-cancelable operating leases. Leases with an initial term of one year or less are not recorded on the balance sheet, and the Company generally recognizes lease expense for these leases on a straight-line basis over the lease term. As of June 30, 2024, the Company’s long term operating leases have remaining lease terms of 14 - 23 months and include options to renew the lease. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants. The Company does not have any material financing leases. The Company determines if an arrangement is a lease at inception. Operating lease right-of-use ("ROU") assets and current and long-term operating lease liabilities are separately stated on the consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The present value of future lease payments is discounted using either the implicit rate in the lease, if known, or the Company’s incremental borrowing rate for the specific lease as of the lease commencement date. The ROU asset is also adjusted for any prepayments made or incentives received. The lease terms include options to extend or terminate the lease only to the extent it is reasonably certain any of those options will be exercised. Lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease components (e.g., fixed payments) separate from the non-lease components (e.g., common-area maintenance costs) for its building lease. For office equipment, the company does not separate lease components (e.g., fixed payments) from the non-lease components (e.g., service costs). The Company’s office lease began July 15, 2019 and is due to expire on July 31, 2025 . This office space is in a building owned by a board member. The Company shares this space and the related costs associated with this operating lease with a related party (see Note 10 - Related Party Transactions) that also performs legal services associated with the collection of delinquent assessments. The related party has a sub-lease for approximately $ 2,500 per month plus operating expenses. On February 27, 2023, the Company executed a lease for office equipment which has been classified as an operating lease. The lease term is 39 months. As of the effective date of the lease, the Company recorded an adjustment to the right-of-use asset and lease liability in the amount of $ 22 thousand based on the net present value of lease payments discounted using an estimated incremental borrowing rate of 7.35 %. Lease expense recognized for the three and six months ended June 30, 2024 and 2023 was approximately $ 40 thousand and $ 79 t housand, respectively for 2024 and approximately $ 28 thousand and $ 57 t housand, respectively for 2023. Sub-lease income for the three and six months ended June 30, 2024 and 2023 was approximately $ 7 thousand and $ 15 thousand, respectively for 2024 and approximately $ 15 thousand and $ 29 thousand, respectively for 2023. The following table presents supplemental balance sheet information related to operating leases as of June 30, 2024 and December 31, 2023: Balance Sheet Line Item June 30, 2024 December 31, 2023 Assets ROU assets Right of use asset, net $ 136,430 $ 189,009 Total lease assets $ 136,430 $ 189,009 Liabilities Current lease liabilities Lease liability $ 117,153 $ 110,384 Long-term lease liabilities Lease liability 25,962 85,775 Total lease liabilities $ 143,115 $ 196,159 Weighted-average remaining lease term (in years) 1.2 1.7 Weighted-average discount rate 7.49 % 7.49 % The following table presents supplemental cash flow information and non-cash activity related to operating leases for the three and six months ended June 30, 2024 and 2023: June 30, 2024 2023 Operating cash flow information Cash paid for amounts included in the measurement of lease liabilities $ ( 53,044 ) $ ( 45,913 ) Non-cashflow information ROU assets and operating lease obligation recognized $ - $ 21,887 The following table presents maturities of operating lease liabilities on an undiscounted basis as of June 30, 2024: Lease Maturity Table Operating Leases 2024 61,812 2025 85,324 2026 3,163 (less: imputed interest) ( 7,184 ) $ 143,115 Legal Proceedings Except as described below, we are not currently a party to material pending or known threatened litigation proceedings. However, we frequently become party to litigation in the ordinary course of business, including either the prosecution or defense of claims arising from contracts by and between us and client Associations. Regardless of the outcome, litigation can have an adverse impact on us because of prosecution, defense, and settlement costs, diversion of management resources and other factors. The Company accrues for contingent obligations, including estimated legal costs, when the obligation is probable and the amount is reasonably estimable. As facts concerning contingencies become known, the Company reassesses its position and makes appropriate adjustments to the consolidated financial statements. Estimates that are particularly sensitive to future changes include those related to tax, legal, and other regulatory matters. In October 2021, we entered into a sale and purchase agreement (the “Uptime Purchase Agreement”) with Uptime Armory LLC (“Uptime”) pursuant to which US Digital agreed to purchase, and Uptime agreed to supply to US Digital, an aggregate of 18 modified 40-foot cargo containers (“POD5ive containers”) that will be designed to hold and operate 280 S19 Pro Antminers manufactured by Bitmain. The purchase price of the POD5ive containers totals $ 3.15 million, of which $ 2.4 million or 75 % was paid in 2021 as a non-refundable down payment and the remaining 25 % was paid after Uptime delivered a “notice of completion” of the equipment in 2022. However, no containers have been delivered as of June 30, 2024. On November 8, 2022, LMFA filed an action in Florida circuit court against Uptime Armory, LLC and Bit5ive, LLC in a case styled US Digital Mining and Hosting Co. LLC v. Uptime Amory, LLC and Bit5ive, LLC (Fla. 11thCir. Ct., November 8, 2022). In that action, we alleged breach of contract and violation of the Florida Deceptive and Unfair Trade Practices Act and are seeking, among other things, damages of $ 3.15 million for non-delivery of the 18 POD5ive containers. The Defendants in this action filed a motion to compel confidential arbitration action. The court has now stayed the action in the Florida Circuit Court, and ordered the parties to confidential arbitration governed by the American Arbitration Association and the case is proceeding to arbitration. We recorded an impairment charge of $ 3.15 million on our mining machine deposit in the fourth quarter of 2022 and is reported on our Consolidated Statements of Operations as Impairment loss on prepaid mining machine deposits. The arbitrator has ruled in favor of US Digital’s dispositive motions against Uptime Armory and Bit5ive. Entities Uptime Armory, LLC, Uptime Hosting, LLC, and Bit5ive, LLC have filed for Assignment for the Benefit of Creditors. LMFA US Digital’s Proof of Claim against entities was filed in the Circuit Court of the eleventh Judicial Circuit, in and for Miami-Dade County, Florida in the amount of Arbitrator’s award of $ 3.2 million (owed joint and several with Bit5ive, LLC). In October 2021, US Digital also entered into a hosting agreement with Uptime Hosting LLC (the “Hosting Agreement”) to host the Company’s 18 POD5ive containers at a secure location and provide power, maintenance and other services specified in the contract for 6 cents per kilowatt with a term of one year. Under the Hosting Agreement we paid a deposit of $ 0.8 million in 2021 and were required to pay an additional deposit for each container three and six months prior to delivery at the hosting site of $ 44 thousand and a final deposit for each container one month prior to arrival at the hosting site of $ 44 thousand. The deposits paid for hosting services under the Hosting Agreement are refundable. On June 29, 2022, the Company and Uptime Hosting LLC entered into a Release and Termination Agreement in which the Hosting Agreement was terminated and Uptime Hosting LLC agreed to pay the $ 0.8 million. We recorded an impairment charge of $ 0.8 million on our prepaid hosting deposit in the fourth quarter of 2022. On September 2, 2022 , LMFA filed in Florida circuit court a legal action against Uptime Hosting LLC in an action styled US Digital Mining and Hosting Co, LLC v. Uptime Hosting, LLC (Fla. 13thCir. Ct. Sept. 2, 2022) for the return of the deposit and other damages, alleging breach of contract and violation of the Florida Deceptive and Unfair Trade Practices Act. LMFA has amended its complaint. This is now an action for (i) breach of contract against Uptime and Bit5ive, (ii) violation of Florida’s Uniform Fraudulent Transfer Act against Uptime; (iii) violation of Florida’s Uniform Fraudulent Transfer Act against Bit5ive; (iv) violation of Florida’s Uniform Fraudulent Transfer Act against Block Consulting and Robert Collazo (v) violation of Florida Fraudulent Asset Conversion against Block Consulting Services, 6301 Southwest Ranches, LLC, Robert D Collazo, Jr. and Elyam Moral-Collazo; (vi) violation of Florida Deceptive and Unfair Trade Practices Act against all Defendants, (vii) equitable lien against Robert D Collazo, Jr., Elyam Moral-Collazo and 6301 Southwest Ranches, LLC., and (viii) equitable lien against Defendants Robert D Collazo, Jr., Elyam Moral-Collazo and 6301 Southwest Ranches, LLC. Currently the proceedings have been stayed by the court while defendants seek new counsel.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	Note 8. Stockholders’ Equity Reverse Stock Split On February 23, 2024, the Board approved a one-for-six ( 1:6 ) reverse split of the Company’s issued and outstanding common stock, par value $ 0.001 per share, pursuant to which every six outstanding shares of common stock was converted into one share of common stock (the “Reverse Stock Split”). The Reverse Stock Split was effected by the filing of an amendment to our Certificate of Incorporation on March 7, 2024 which provided that the Reverse Stock Split become effective at 12:01 a.m. eastern time on March 12, 2024. The amendment provided that no fractional shares shall be issued and, in lieu thereof, any person who would otherwise be entitled to a fractional share of common stock as a result of the Reverse Stock Split would be entitled to receive one share of common stock. The Company’s common stock began trading on The Nasdaq Capital Market on a split-adjusted basis on March 12, 2024. The Company has retroactively adjusted all share amounts and per share data herein to give effect to the Reverse Stock Split. Stock Options The following is a summary of the stock option plan activity during the six months ended June 30, 2024 and 2023: 2024 2023 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Options outstanding at beginning of the year 599,597 $ 9.00 186,877 $ 19.56 Granted - - 414,417 4.50 Forfeited - - ( 1,697 ) 72.18 Exercised - - - - Options outstanding at June 30, 599,597 $ 9.01 599,597 $ 9.01 Options exercisable at June 30, 387,110 $ 11.06 307,574 $ 11.34 Stock compensation expense recognized for t he three and six months ended June 30, 2024 and 2023 related to stock options was approximately $ 0.1 million and $ 0.2 million, respectively for 2024 and approximately $ 1.1 million and $ 1.3 million, respectively for 2023. There was $ 0.4 million of unrecognized compensation cost associated with unvested stock options remaining as of June 30, 2024. The aggregate intrinsic value of the outstanding common stock options as of June 30, 2024 and December 31, 2023 was nil . The remaining weighted average life of the options as of June 30, 2024 was approximately 8.6 years. Stock Issuance The following is a summary of the restricted share activity during the six months ended June 30, 2024 and 2023: 2024 2023 Number of Weighted Average Number of Weighted Average Restricted Shares Award Price Restricted Shares Award Price Restricted Shares outstanding at beginning of the year 86,667 $ 4.51 - $ - Granted - - 260,000 $ 4.51 Vested ( 86,667 ) $ 4.51 ( 43,333 ) $ 4.51 Restricted Shares outstanding at June 30, - $ - 216,667 $ 4.51 Stock compensation expense for restricted stock for the three and six months ended June 30, 2024 and 2023 was approximately $ 5 thousand and $ 76 thousand, respectively, for 2024 and $ 565 thousand and $ 565 thousand, respectively, for 2023. There was nil unrecognized compensation cost associated with unvested restricted stock remaining as of June 30, 2024. Warrants The following is a summary of the warrant activity during the six months ended June 30, 2024 and 2023: 2024 2023 Number of Warrants Weighted Average Exercise Price Number of Warrants Weighted Average Exercise Price Warrants outstanding at beginning of the year 1,274,807 $ 30.04 1,279,573 $ 30.00 Granted - - - - Exercised - - - - Forfeited - - - - Warrants outstanding and exercisable at June 30, 1,274,807 $ 30.04 1,279,573 $ 30.00 The aggregate intrinsic value of the outstanding common stock warrants as of June 30, 2024 and 2023 was nil . The remaining weighted average life of the warrants as of June 30, 2024 was 2.25 years. At the Market Program On June 26, 2023, the Company entered into an Equity Distribution Agreement (the “Distribution Agreement”) with Maxim Group LLC (the “Agent”), pursuant to which the Company may, from time to time, at the Company's discretion, offer and sell shares of the Company’s common stock, having an aggregate offering price of up to $ 4.7 million (the “Shares”), through the Agent, acting as sales agent. The Shares to be sold under the Distribution Agreement, if any, will be issued and sold pursuant to the Company’s shelf registration statement which was filed with the Securities and Exchange Commission (“SEC”) on July 30, 2021 (the “Registration Statement”) and was declared effective on August 16, 2021. A prospectus supplement related to the Company’s at the market offering ("ATM") program with the Agent under the Distribution Agreement was filed with the SEC on June 26, 2023 . The ATM program was expected to remain into effect until August 15, 2024. As of June 30, 2024, no sales have been made under the ATM program, and an aggregate gross sales limit of $ 4.2 million remains available for issuance under the ATM program. Approximately $ 119 thousand of legal and professional fees incurred related to the establishment of the ATM program were deferred and recorded within "Prepaid expenses and other assets" on the Consolidated Balance Sheets. These deferred costs were expensed in June 2024 due to the nonuse of the ATM.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Note 9. Segment Information The Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has two reportable segments: Specialty Finance and Mining Operations. The guidance requires that segment disclosures present the measure(s) used by the CODM to decide how to allocate resources and for purposes of assessing such segments’ performance. The Company’s CODM uses revenue, income from operations and income before taxes of our reporting segments to assess the performance of the business of our reportable operating segments. No operating segments have been aggregated to form the reportable segments. The corporate oversight function, and other components that may earn revenues that are only incidental to the activities of the Company are aggregated and included in the “All Other” category. The Specialty Finance segment generates revenue from providing funding to nonprofit community associations. The Mining Operations segment generates revenue from the Bitcoin the Company earns through its mining activities. Three Months Ended June 30, 2024 Specialty Finance Mining Operations All Other Total Revenue, net $ 89,037 $ 2,893,073 $ 29,237 $ 3,011,347 Depreciation and amortization 1,306 2,336,795 1,601 2,339,702 Operating loss ( 232,247 ) ( 3,276,910 ) ( 1,234,323 ) ( 4,743,480 ) Unrealized loss on investment and equity securities - - ( 1,856,737 ) ( 1,856,737 ) Unrealized gain on marketable securities - - 6,440 6,440 Loss on disposal of assets - ( 33,887 ) - ( 33,887 ) Interest income - - 17,228 17,228 Interest expense - ( 18,400 ) ( 18,493 ) ( 36,893 ) Loss before income taxes ( 232,247 ) ( 3,329,197 ) ( 3,085,885 ) ( 6,647,329 ) Fixed Asset Additions - 1,226,602 - 1,226,602 Six Months Ended June 30, 2024 Specialty Finance Mining Operations All Other Total Revenue, net $ 267,970 $ 7,490,981 $ - $ 7,758,951 Depreciation and amortization 2,672 4,759,857 3,241 4,765,770 Operating loss ( 539,331 ) ( 1,004,073 ) ( 2,637,474 ) ( 4,180,878 ) Unrealized gain on marketable securities - - 4,280 4,280 Unrealized loss on investment and equity securities - - ( 505,758 ) ( 505,758 ) Gain on fair value of purchased Bitcoin, net - - 57,926 57,926 Loss on disposal of assets - ( 42,057 ) - ( 42,057 ) Other income - coupon sales - 4,490 - 4,490 Interest income, net - - 26,353 26,353 Interest expense - ( 89,226 ) ( 18,493 ) ( 107,719 ) Loss before income taxes ( 539,331 ) ( 1,130,866 ) ( 3,073,166 ) ( 4,743,363 ) Fixed Asset Additions - 1,226,602 - 1,226,602 Three Months Ended June 30, 2023 Specialty Finance Mining Operations All Other Total Revenue, net $ 227,328 $ 2,968,322 $ - $ 3,195,650 Depreciation and amortization ( 441 ) 1,168,242 1,319 1,169,120 Operating loss ( 196,900 ) ( 429,493 ) ( 2,529,941 ) ( 3,156,334 ) Unrealized loss on investment and equity securities - - ( 3,716,681 ) ( 3,716,681 ) Unrealized loss on marketable securities - - ( 1,412 ) ( 1,412 ) Symbiont credit reserve reversal - - 1,052,543 1,052,543 Other income - coupon sales - 25,721 - 25,721 Other income - financing revenue - - 37,660 37,660 Interest income - - 116,147 116,147 Loss before income taxes ( 196,900 ) ( 403,772 ) ( 5,041,684 ) ( 5,642,356 ) Fixed Asset Additions 1,228 1,662,218 5,741 1,669,187 Six Months Ended June 30, 2023 Specialty Finance Mining Operations All Other Total Revenue, net $ 449,995 5,059,173 $ - $ 5,509,168 Depreciation and amortization 2,525 1,966,111 2,357 1,970,993 Operating loss ( 408,569 ) ( 886,295 ) ( 3,830,896 ) ( 5,125,760 ) Unrealized loss on marketable securities - - 4,378 4,378 Impairment loss on prepaid machine deposits - ( 36,691 ) - ( 36,691 ) Symbiont credit reserve reversal - - 1,052,543 1,052,543 Unrealized gain on investment and equity securities - - ( 9,539,535 ) ( 9,539,535 ) Realized gain on sale of purchased digital assets - - 1,917 1,917 Other income - coupon sales - 629,312 - 629,312 Other income - financing revenue - - 37,660 37,660 Interest income, net - - 171,224 171,224 Income (loss) before income taxes ( 408,569 ) ( 293,674 ) ( 12,102,709 ) ( 12,804,952 ) Fixed Asset Additions 1,228 1,731,374 12,008 1,744,610

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 10. Related Party Transactions Legal services for the Company associated with the collection of delinquent assessments from property owners was performed by a law firm (Business Law Group “BLG”) which was owned solely by Bruce M. Rodgers, the chairman and CEO of the Company, until and through the date of its initial public offering in 2015. Following the initial public offering, Mr. Rodgers transferred his interest in BLG to other attorneys at the firm through a redemption of his interest in the firm. The law firm has historically performed collection work primarily on a deferred billing basis wherein the law firm receives payment for services rendered upon collection from the property owners or at amounts ultimately subject to negotiations with the Company. On February 1, 2022, the Company consented to the assignment by BLG to the law firm BLG Association Law, PLLC (“BLGAL”) of the Services Agreement, dated April 15, 2015, previously entered into by the Company and Business Law Group, P.A. (the “Services Agreement”). The Services Agreement had set forth the terms under which Business Law Group, P.A. would act as the primary law firm used by the Company and its association clients for the servicing and collection of association accounts. Bruce M. Rodgers is a 50 % owner of BLGAL. Under the agreement, the Company paid BLG a fixed monthly fee of $ 53 thousand per month for services rendered during the three and six months ended June 30, 2023. The Company pays BLG a minimum per unit fee of $ 700 in any case where there is a collection event and BLG received no payment from the property owner, including any unit where the Company has taken title to the unit or where the Association has terminated its contract with either BLG or the Company. On March 28, 2024, BLGAL and the Company reduced the monthly compensation payable to the law firm from $ 53 thousand to $ 43 thousand effective January 1, 2024. The Company had originally engaged BLG on behalf of many of its Association clients to service and collect the Accounts and to distribute the proceeds as required by Florida law and the provisions of the purchase agreements between LMF and the Associations. This engagement was subsequently assigned to BLGAL as described above. Ms. Gould, who is a Director of the Company, worked as the General Manager of BLG and works as the General Manager of BLGAL. Amounts paid to BLGAL for the three and six months ended June 30, 2024 and 2023 were approximately $ 129 thousand and $ 258 thousand, respectively, for 2024 and approximately $ 159 thousand and $ 318 thousand, respectively, for 2023. Under the Services Agreement in effect during the three and six months ended June 30, 2024 and 2023, the Company pays all costs (lien filing fees, process and serve costs) incurred in connection with the collection of amounts due from property owners. Any recovery of these collection costs is accounted for as a reduction in expense incurred. The Company incurred expenses related to collection costs for the three and six months ended June 30, 2024 and 2023 in the amounts of approximately $ 25 thousand and $ 40 thousand, respectively for 2024 and approximately $ 17 thousand and $ 30 thousand, respectively for 2023. Recoveries during the three and six months ended June 30, 2024 and 2023 were approximately $ 5 thousand and $ 19 thousand, respectively for 2024 and approximately $ 17 thousand and $ 21 thousand, respectively for 2023. The Company also shares office space, personnel and related common expenses with BLGAL. All shared expenses, including rent, are charged to BLGAL based on an estimate of actual usage. Any expenses of BLGAL paid by the Company that have not been reimbursed or settled against other amounts are reflected as due from related parties in the accompanying consoli dated balance sheet. BLGAL was charged for office sub-lease for three and six months ended June 30, 2024 and 2023 for a total of approximately $ 7 thousand and $ 15 thousand, respectively for 2024 and approximately $ 15 thousand and $ 30 thousand, respectively for 2023. Amounts payable to BLGAL as of June 30, 2024 and December 31, 2023 were approximately $ 54 thousand and $ 24 thousand, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events On August 6, 2024, the Company entered into a $ 5 million secured loan with SE & AJ Liebel Limited Partnership, a Nevada limited partnership, which accrues twelve percent ( 12 %) interest per annum. Payments of $ 50 thousand per month are required to be made until the loan is paid in full, beginning on September 6, 2024. The note matures on August 6, 2026 . The loan is secured by $ 5 M of Bitcoin and other assets.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations LM Funding America, Inc. (“we”, “our”, “LMFA” or the “Company”) was formed as a Delaware corporation on April 20, 2015. LMFA is the sole member of several entities including LM Funding, LLC, which was organized in January 2008, US Digital Mining and Hosting Co., LLC, which was formed on September 10, 2021 (“US Digital”); LMFA Financing LLC, formed on November 23, 2020, and LMFAO Sponsor LLC, formed on October 29, 2020 (LMFA is a majority member of LMFAO Sponsor LLC). Additionally, US Digital has formed various 100 % owned subsidiaries to engage in business in various states in connection with its Bitcoin mining business. LMFAO Sponsor LLC formed a majority owned subsidiary LMF Acquisition Opportunities Inc. (“LMAO”) on October 29, 2020 which was organized as a special purpose acquisition company that that completed an initial public offering in January 2021, whereupon the Company ceased to be majority owned by LMFA. LMF Acquisition Opportunities Inc. was subsequently merged with Seastar Medical Holding Corporation on October 28, 2022. The Company also from time to time organizes other subsidiaries to serve a specific purpose or hold a specific asset. Lines of Business The Company currently operates two lines of business: our cryptocurrency mining business and our specialty finance business. The Bitcoin mining operation deploys our computing power to mine Bitcoin on the Bitcoin network. We conduct this business through our wholly owned subsidiary, US Digital, a Florida limited liability company, which we formed in 2021 to develop and operate our cryptocurrency mining business. With respect to our specialty finance business, the Company has historically engaged in the business of providing funding to nonprofit community associations primarily located in the state of Florida. We offer incorporated nonprofit community associations, which we refer to as “Associations,” a variety of financial products customized to each Association’s financial needs. Bitcoin Mining Business We obtain Bitcoin as a result of our mining operations, and we sell Bitcoin from time to time, to support our operations and strategic growth. We plan to convert our Bitcoin to U.S. dollars. We may engage in regular trading of Bitcoin or engage in hedging activities related to our holding of Bitcoin. However, our decisions to hold or sell Bitcoin at any given time may be impacted by the Bitcoin market, which has been historically characterized by significant volatility. Currently, we do not use a formula or specific methodology to determine whether or when we will sell Bitcoin that we hold, or the number of Bitcoins we will sell. Rather, decisions to hold or sell Bitcoins are currently determined by management based on working cash needs and by monitoring the market in real time. As of June 30, 2024 and December 31, 2023 , the Company had approximately 5,900 machines, which amounted to operating units capable of producing over 639 petahash and 615 petahash, respectively, per second (“EH/s”) of computing power. Specialty Finance Company In our specialty finance business, we purchase an Association’s right to receive a portion of the Association’s collected proceeds from owners that are not paying their assessments. After taking assignment of an Association’s right to receive a portion of the Association’s proceeds from the collection of delinquent assessments, we engage law firms to perform collection work on a deferred billing basis wherein the law firms receive payment upon collection from the account debtors or a predetermined contracted amount if payment from account debtors is less than legal fees and costs owed.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of LMFA and its wholly-owned subsidiaries: LM Funding, LLC; LMF October 2010 Fund, LLC; REO Management Holdings, LLC (including all 100 % owned subsidiary limited liability companies); LM Funding of Colorado, LLC; LM Funding of Washington, LLC; LM Funding of Illinois, LLC; US Digital (includes all 100 % owned subsidiary limited liability companies) and LMF SPE #2, LLC and various single purpose limited liability corporations owned by REO Management Holdings, LLC which own various properties. It also includes LMFA Sponsor, LLC (a 69.5 % owned subsidiary). All significant intercompany balances have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim consolidated financial statements as of June 30, 2024 and for the three and six months ended June 30, 2024 and June 30, 2023, respectively, are unaudited. In the opinion of management, the interim consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the interim periods. The accompanying consolidated balance sheet as of December 31, 2023, is derived from the audited consolidated financial statements presented in the Company’s Annual Report on Form 10-K for fiscal the year ended December 31, 2023.
Recently adopted/issued accounting pronouncements	Recently adopted accounting pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-08, Intangible - Goodwill and Other -Crypto Assets (Subtopic 350-60) (“ASC 350-60”). ASC 350-60 requires entities with certain crypto assets to subsequently measure such assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. Crypto assets that meet all the following criteria are within the scope of the ASC 350-60: (1) meet the definition of intangible assets as defined in the Codification (2) do not provide the asset holder with enforceable rights to or claims on underlying goods, services, or other assets (3) are created or reside on a distributed ledger based on blockchain or similar technology (4) are secured through cryptography (5) are fungible, and (6) are not created or issued by the reporting entity or its related parties. Bitcoin, which is the sole crypto asset mined by the Company, meets each of these criteria. For all entities, the ASC 350-60 amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance). If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. The Company has elected to early adopt the new guidance effective January 1, 2024 resulting in a $ 614 thousand cumulative-effect change to adjust the Company's Bitcoin held on January 1, 2024 with the corresponding entry to beginning accumulated deficit.
Segment and Reporting Unit Information	Segment and Reporting Unit Information Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Chief Executive Officer and Chief Financial Officer of the Company comprise the CODM, as a group. The Company has two operating segments as of June 30, 2024, which we refer to as Specialty Finance and Mining Operations. Our corporate oversight function and other components that may earn revenues that are only incidental to the activities of the Company are aggregated and included in the “All Other” category. Refer to Note 9 - Segment Information.
Reclassifications	Reclassification Certain prior period immaterial amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on the reported results of operations.
Liquidity	Liquidity The accompanying consolidated financial statements of the Company have been prepared assuming the Company will continue as a going concern. The going concern basis of presentation assumes that the Company will continue in operation one year after the date these financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. The evaluation of going concern under the accounting guidance requires significant judgment which involves the Company to consider that it has historically incurred losses in recent years as it has prepared to grow its business through expansion and acquisition opportunities. The Company must also consider its current liquidity as well as future market and economic conditions that may be deemed outside the control of the Company as it relates to obtaining financing and generating future profits. As of June 30, 2024, the Company had $ 0.1 million available cash on-hand and Bitcoin with a fair market value of $ 10.0 million. After considering its current liquidity and future market and economic conditions, the Company has concluded there is no substantial doubt about the Company’s ability to continue as a going concern.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates include the evaluation of probable losses on balances due from a related party, the realization of deferred tax assets, the evaluation of contingent losses related to litigation and reserves on notes receivables. We consider our critical accounting estimates to be those related to long-lived asset impairment assessments. Our estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the consolidated financial statements.
Cash	Cash The Company maintains cash balances at several financial institutions that are insured under the Federal Deposit Insurance Corporation’s (“FDIC”) Transition Account Guarantee Program. Balances with the financial institutions may exceed federally insured limits. As of June 30, 2024 and December 31, 2023 we have approximately nil and $ 2.2 million of cash in various institutions that exceed the FDIC or SIPC insurance coverage limit of $ 250,000 .
Digital Assets	Digital Assets Bitcoin are included in current assets in the consolidated balance sheets due to the Company’s ability to sell Bitcoin in a highly liquid marketplace and such Bitcoin holdings are expected to be realized in cash or sold or consumed during the normal operating cycle of the Company. As a result of adopting ASC 350-60 on January 1, 2024, Bitcoin is measured at fair value as of each reporting period (see Recently Issued Accounting Pronouncements). The fair value of Bitcoin is measured using the period-end closing Bitcoin price from its principal market in accordance with ASC 820, Fair Value Measurement. Since Bitcoin is traded on a 24-hour period, the Company utilizes the price as of midnight UTC time, which aligns with the Company's revenue recognition cut-off. The increase and decrease in fair value from each reporting period is reflected on the consolidated statements of operation as "Gain on fair value of Bitcoin, net". The Company sells Bitcoin and such gains and losses from such transactions are measured as the difference between the cash proceeds and the carrying basis of Bitcoin as determined on a First In-First Out ("FIFO") basis and are recorded within "Gain on fair value of Bitcoin, net". Prior to issuance of the ASU 2023-08 and adoption of ASC 350-60, Bitcoin were recorded at cost less impairment and were classified as indefinite-lived intangible assets in accordance with ASC 350, Intangibles — Goodwill and Other. An intangible asset with an indefinite useful life was not amortized but was assessed for impairment annually, or more frequently, when events or changes in circumstances occurred indicating that it was more likely than not that the carrying amount of the indefinite-lived asset exceeded its fair value. The Company determined the fair value of Bitcoin in accordance with ASC 820, Fair Value Measurement, based on lowest intraday quoted prices from our principal market for such assets (Level 1 inputs). We performed an analysis each month to identify whether events or changes in circumstances indicate that it is more likely than not that our digital assets were impaired. If the carrying value of a digital asset exceeded the fair value so determined, an impairment loss had occurred with respect to those digital assets in the amount equal to the difference between their carrying values and the fair value. To the extent an impairment loss was recognized, the loss established the new cost basis of the asset and subsequent reversal of impairment losses was not permitted under ASC 350, Intangibles – Goodwill and Other. Additionally, in the previous guidance, subsequent increases in Bitcoin prices are not allowed to be recorded (unrealized gains) unless the Bitcoin is sold, at which point the gain is recognized. Accordingly, gains (losses) recognized on fair value of Bitcoin in fiscal year 2024 are not comparable to fiscal year 2023. Bitcoin, which is non-cash consideration earned by the Company through its mining activities, are included as a reconciling item as a cash outflow within operating activities on the accompanying consolidated statements of cash flows. The cash proceeds from the sales of Bitcoin are classified based on the holding period in which the Bitcoin are held. ASC 350-60 specifies that Bitcoin converted nearly immediately into cash would qualify as cash flows from operating activities and all oth er sales would qualify as investing activities. In prior fiscal periods, the Company did not hold its Bitcoin for extended periods of time and such sales proceeds prior to the adoption of ASC 350-60 were reported as cash flows from operating activities. Upon adoption of ASC 350-60, the Company evaluates its sales of Bitcoin and will record Bitcoin sold nearly immediately as operating cash flows and the remainder will be recorded as investing activities. During the six months ended June 30, 2024, all proceeds from Bitcoin sales were classified as investing activities.
Investment in Securities	Investment in Securities Investment in Securities includes investments in common stocks and convertible notes receivables. Investments in securities are reported at fair value with changes in unrecognized gains or losses included in other income on the income statement.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities We account for investments in less than 50 % owned and more than 20 % owned entities using the equity method of accounting. Because we have elected the fair value option for these securities, unrealized holding gains and losses during the period are included in other income within the Consolidated Statements of Operation.
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 825-10, Financial Instruments , requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet.
Fixed Assets	Fixed Assets The Company capitalizes all acquisitions of fixed assets in excess of $ 500 . Fixed assets are stated at cost, net of accumulated depreciation. State and local use tax for equipment shipped from overseas is generally accrued on a quarterly basis at the time equipment is placed in service and is paid to the state in which the equipment is being utilized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets and commences once the assets are ready for their intended use. Fixed assets are comprised of furniture, computer, office equipment, buildings and mining machines with assigned useful lives of 3 to 30 years. The Company classifies mining machine deposit payments within "Deposits on mining equipment" in the consolidated balance sheets. As mining machines are received, the respective cost of the mining machines plus the related shipping and customs fees are reclassified from "Deposits on mining equipment" to "Fixed assets, net" in the consolidated balance sheets. Refer to Note 4 - Deposits on Mining Equipment and Hosting Services. In addition, as part of its periodic review of its fixed asset groups during the fourth quarter of 2023, the Company changed the estimated useful life for its mining machines from 5 years to 4 years . The change was accounted for on a prospective basis. The Company operates in an emerging industry for which limited data is available to make estimates of the useful economic lives of mining machines. To the extent that any of the assumptions underlying management’s estimate of useful life of its mining machines are subject to revision in a future reporting period, either as a result of changes in circumstances or through the availability of greater quantities of data, then the estimated useful life could change and have a prospective impact on depreciation expense and the carrying amounts of these assets.
Equipment Purchases	Equipment Purchases We ordered 300 S21 Bitmain machines in January 2024 for an aggregate purchase price of approximately $ 1.1 million which were delivered in two shipments during March 2024 and April 2024.
Right to Use Assets	Right to Use Assets The Company capitalizes all leased assets pursuant to ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. As of June 30, 2024 and December 31, 2023 right to use assets, net of accumulated amortization, was $ 136 thousand and $ 189 thousand.
Impairment of Long-Lived Assets	Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment amount is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was nil and $ 1.2 million impairment loss recorded on fixed assets during the three and six months ended June 30, 2024, respectively, and nil impairment loss recorded on fixed assets during the three and six months ended June 30, 2023, respectively. Refer to Note 3 - Fixed Assets.
Hosting Contracts	Hosting Contracts The Company currently uses three companies to host its miners: Core Scientific Inc. ("Core"), Giga Energy Inc ("GIGA") and Tech Infrastructure JV I LLC ("Tech Infrastructure"). On September 5, 2022, the Company, through its wholly-owned subsidiary US Digital, entered into a hosting agreement (the “Core Hosting Agreement”) with Core pursuant to which Core, under various additional orders, agreed to host approximately 3,000 of the Company's Bitcoin miner machines at a secure location and provide power, maintenance and other services specified in the contract with a term of one year, with automatic renewals unless either party notifies the other party in writing not less than ninety ( 90 ) calendar days before such renewal of its desire for the order not to renew unless terminated sooner pursuant to the terms of the Core Hosting Agreement. The Company entered into a number of amendments in 2023 and 2024 that resulted in Core hosting a total of approximately 4,870 miners. The amended Hosting Agreement results in the terms of the hosting arrangement expiring with respect to approximately 4,000 miners on May 31, 2024 while allowing the terms of the hosting arrangement to continue with respect to approximately 800 miners through December 31, 2024. As required under the Core Hosting Agreement, the Company paid a $ 2.2 million deposit as of December 31, 2023. Under the terms of the amended Hosting Agreement, the deposit related to the 4,000 miners that were removed was applied to our invoices. As of June 30, 2024 and December 31, 2023, the Company had nil and $ 2.1 million of the prepaid deposit remaining with Core, respectively. In December 2022, Core filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. Core's bankruptcy filing has not negatively impacted our mining ability at their sites as of the date of this filing. On May 5, 2023, the Company entered into a hosting agreement (the “GIGA Hosting Agreement”) with GIGA pursuant to which GIGA agreed to host 1,080 of the Company's Bitcoin Miner S19J Pro machines at a secure location and provide power, maintenance and other services specified in the contract with a term of one year. On April 12, 2024, the Company amended the contract to allow for an extension of the contract with a 60 day termination notice. As required under the GIGA Hosting Agreemen t, the Company paid $ 173 thousand as a pre-payment in May 20 23 and paid a refundable deposit of $ 173 thousand in August 2023. As of June 30, 2024 and December 31, 2023, respectively, t he Company had approximately $ 88 thousand and $ 117 thousand of prepaid deposits remaining with GIGA, respectively. Since June 30, 2024, all of the machines hosted by Giga have been moved to a third-party warehouse and are awaiting a new hosting site. On May 6, 2024, the Company entered into a hosting agreement (the “Arthur Hosting Agreement”) with Tech Infrastructure pursuant to which Tech Infrastructure agreed to host approximately 3,000 of the Company's Bitcoin Miner S19J Pro machines at a secure location and provide power, maintenance and other services specified in the contract with a term of nine months. On July 17, 2024, the Company amended the contract to allow for an extension of the contract of one month.
Revenue recognition - Bitcoin Mining	Revenue Recognition – Bitcoin Mining We recognize revenue in accordance with generally accepted accounting principles as outlined in ASC 606, Revenue From Contracts with Customers, which requires that five steps be followed in evaluating revenue recognition: (i) identify the contract with the customer; (ii) identity the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price; and (v) recognize revenue when or as the entity satisfied a performance obligation. Our accounting policy on revenue recognition for our Bitcoin mining segment is provided below. Step 1: The Company enters into a contract with a Bitcoin mining pool operator (i.e., the customer) to provide computing power to the mining pools. The contract is terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company starts providing computing power to the mining pool operator (which occurs daily at midnight Universal Time Coordinated (UTC)). When participating in ratable share pools, in exchange for providing computing power the Company is entitled to a fractional share of the Bitcoin award the mining pool operator receives for successfully adding a block to the blockchain, plus a fractional share of the transaction fees attached to that blockchain. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. When participating in a Full Pay Per Share (“FPPS”) mining pool, in exchange for providing computing power to the pool the Company is entitled to compensation, calculated on a daily basis, at an amount that approximates the total Bitcoin that could have been mined using the Company’s computing power, calculated on a look-back basis across previous blocks using the pools hash rate index. Applying the criteria per ASC 606-10-25-1, the contract arises at the point that the Company provides computing power to the mining pool operator, which is beginning contract day at midnight UTC (contract inception), because customer consumption is in tandem with daily earnings of delivery of the computing power. Step 2: In order to identify the performance obligations in a contract with a customer, the Company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: • The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct); and • The entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). Based on these criteria, the Company has a single performance obligation in providing computing power services (i.e., hashrate) to the mining pool operator (i.e., customer). The performance obligation of computing power services is fulfilled daily over-time, as opposed to a point in time, because the Company provides the hashrate throughout the day and the customer simultaneously obtains control of it and uses the asset to produce Bitcoin. The Company has full control of the mining equipment utilized in the mining pool and if the Company determines it will increase or decrease the processing power of its machines and/or fleet (i.e., for repairs or when power costs are excessive) the computing power provided to the customer will be reduced. Step 3: The transaction consideration the Company earns is non-cash digital consideration in the form of Bitcoin, which the Company measures at fair value on the date earned at the daily closing price, which is not materially different from the fair value at contract inception. The transaction consideration the Company earns is all variable since it is dependent on the daily computing power provided by the Company under the FPPS model and total Bitcoin earned by the under the ratable share model. The Company’s Bitcoins earned through the contractual payout formula is not known until the Company’s computational hashrate contributed over the daily measurement period is fulfilled over-time daily between midnight-to-midnight UTC time. The Company’s proportionate amount of the global network transaction fee rewards earned are calculated at the end of each transactional day (midnight to midnight). There are no other forms of variable considerations, such as discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties, or other similar items. The Company does not constrain this variable consideration because it is probable that a significant reversal in the amount of revenue recognized from the contract will not occur when the uncertainty is subsequently resolved and recognizes the noncash consideration on the same day that control is transferred, which is the same day as contract inception. Step 4: The transaction price is allocated to the single performance obligation upon verification for the provision of computing power to the mining pool operator, and total Bitcoin rewards earned by the pool, when applicable under a ratable share model. There is a single performance obligation (i.e., computing power or (hashrate) for the contract; therefore, all consideration from the mining pool operator is allocated to this single performance obligation. Step 5: The Company’s performance is complete in transferring the hashrate service over-time (midnight to midnight) to the customer and the customer obtains control of that asset. In exchange for providing computing power, the Company is entitled to a pro-rata share of the fixed Bitcoin awards earned over the measurement period, plus a pro-rata fractional share of the global transaction fee rewards for the respective measurement period, less net digital asset fees due to the mining pool operator over the measurement period, as applicable. The transaction consideration the Company receives is non-cash consideration, in the form of Bitcoin. The Company measures the Bitcoin at fair value on the date earned using the closing price of Bitcoin on the date earned (midnight UTC), which is not materially different from the fair value at contract inception. There are no deferred revenues or other liability obligations recorded by the Company since there are no payments in advance of the performance. At the end of the 24 hour “midnight-to-midnight” period, there are no remaining performance obligations. Bitcoin earned by the Company through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. Revenue Recognition - Specialty Finance Accounting Standards Codification (“ASC”) 606 of the Financial Accounting Standards Board (“FASB”) states an entity needs to conclude at the inception of the contract that collectability of the consideration to which it will be entitled in exchange for the goods and services that will be transferred to the customer is probable. That is, in some circumstances, an entity may not need to assess its ability to collect all of the consideration in the contract. The Company provides funding to Associations by purchasing their rights under delinquent accounts from unpaid assessments due from property owners. Collections on the Accounts may vary greatly in both the timing and amount ultimately recovered compared with the total revenues earned on the Accounts because of a variety of economic and social factors affecting the real estate environment in general . The Company’s contracts with its specialty finance customers have very specific performance obligations. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities cannot be reasonably estimate and as such, classifies its finance receivables as nonaccrual and recognizes revenues in the accompanying statements of income on the cash basis or cost recovery method in accordance with ASC 310-10, Receivables . The Company’s operations also consist of rental revenue earned from tenants under leasing arrangements which provide for rent income. The leases have been accounted for as operating leases. For operating leases, revenue is recorded based on cash rental payments was collected during the period. The Company analyzed its remaining revenue streams and concluded there were no changes in revenue recognition with the adoption of the new standard. Under ASC 606, the Company applies the cash basis method to its original product and the cost recovery method to its special product as follows: Finance Receivables—Original Product : Under the Company’s original product, delinquent assessments are funded only up to the Super Lien Amount as discussed above. Recoverability of funded amounts is generally assured because of the protection of the Super Lien Amount. As such, payments by unit owners on the Company’s original product are recorded to income when received in accordance with the provisions of the Florida Statute (718.116(3)) and the provisions of the purchase agreements entered into between the Company and Associations. Those provisions require that all payments be applied in the following order: first to interest, then to late fees, then to costs of collection, then to legal fees expended by the Company and then to assessments owed. In accordance with the cash basis method of recognizing revenue and the provisions of the statute, the Company records revenues for interest and late fees when cash is received. In the event the Company determines the ultimate collectability of amounts funded under its original product are in doubt, payments are applied to first reduce the funded or principal amount. Finance Receivables—Special Product (New Neighbor Guaranty program) : During 2012, the Company began offering associations an alternative product under the New Neighbor Guaranty program whereby the Company will fund amounts in excess of the Super Lien Amount. Under this special product, the Company purchases substantially all of the delinquent assessments owed to the association, in addition to all accrued interest and late fees, in exchange for payment by the Company of (i) a negotiated amount or (ii) on a going forward basis, all monthly assessments due for a period up to 48 months. Under these arrangements, the Company considers the collection of amounts funded is not assured and under the cost recovery method, cash collected is applied to first reduce the carrying value of the funded or principal amount with any remaining proceeds applied next to interest, late fees, legal fees, collection costs and any amounts due to the Association. Any excess proceeds still remaining are recognized as revenues. If the future proceeds collected are lower than the Company’s funded or principal amount, then a loss is recognized. Net Commission Revenue: The Company acts as an agent in providing health travel insurance policies. As a result, the Company revenue is recorded at net. The Company has determined that the known amount of cash to be realized or realizable on its revenue generating activities can be reasonably estimated and as such, classifies its receivables as accrual and recognizes revenues in the accompanying statements of income on the accrual basis. If a policy is not effective as of the end of a period, then the associated revenue and underwriting costs are deferred until the effective date. The majority of the commission revenue is underwritten by two policy underwriters who pays the Company commissions.
Cost of Revenues	Cost of Revenues The Company includes energy costs and external co-location mining hosting fees in cost of revenues. Depreciation of mining machines is included within "Depreciation and amortization" in the Consolidated Statements of Operations.
Coupon Sales	Coupon Sales From time to time the Company receives coupons from Bitmain to incentivize purchases of equipment. Coupons have a stated face value in dollars and can be applied against future invoices for purchased machines. Coupons are transferable and there are not restrictions on the sale to third parties. Occasionally, the Company sells coupons to third parties in exchange for cash consideration or digital assets. As there is currently no active market for the buying and selling of Bitmain coupons, the Company has determined that the fair value of coupons received is nil at the time of receipt therefore revenue associated with the sale of such coupons is not recognized until the sale transaction has been completed and consideration has been received from the third party. During the three and six months ended June 30, 2024, the Company sold Bitmain coupons for nil and $ 4 thousand, which was recognized as other income within "Other income - coupon sales" in the Consolidated Statements of Operations. During the three and six months ended June 30, 2023, the Company sold Bitmain coupons for approximately $ 26 thousand and $ 629 thousand respectively.
Income Taxes	Income Taxes The Company’s calculation of its tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in various taxing jurisdictions. The Company recognizes tax liabilities for uncertain tax positions based on management’s estimate of whether it is more likely than not that additional taxes will be required. The Company had no uncertain tax positions as of June 30, 2024 and December 31, 2023. Deferred income taxes are recognized in the consolidated financial statements for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates. Temporary differences arise from net operating losses, differences in depreciation methods of archived images, and property and equipment, stock-based and other compensation, and other accrued expenses. A valuation allowance is established when it is determined that it is more likely than not that some or all of the deferred tax assets will not be realized. The application of tax laws and regulations is subject to legal and factual interpretation, judgment and uncertainty. Tax laws and regulations themselves are subject to change as a result of changes in fiscal policy, changes in legislation, the evolution of regulations and court rulings. Therefore, the actual liability for U.S., or the various state jurisdictions, may be materially different from managements estimates, which could result in the need to record additional tax liabilities or potentially reverse previously recorded tax liabilities. Interest and penalties are included in tax expense. Income tax expense/(benefit) from operations for the three and six months ended June 30, 2024 and 2023 was nil in each period, which resulted primarily from maintaining a full valuation allowance against the Company's deferred tax assets.
Income (Loss) Per Share	Income (Loss) Per Share Basic income (loss) per share is calculated as net income (loss) to common stockholders divided by the weighted average number of common shares outstanding during the period. The weighted average shares used in calculating income per share for the three and six months ended June 30, 2024 includes 22 thousand and 87 thousand restricted shares that were legally issued during the year ended December 31, 2023 and vested during the three and six months ended June 30, 2024 based on their respective vesting date. The Company issued approximately 260 thousand restricted shares during the three and six months ended June 30, 2023. The weighted average shares used in calculating loss per share for the three and six months ended June 30, 2023 includes 43 thousand of restricted shares that were fully vested as of June 30, 2023 based on their respective vesting date and excludes 217 thousand restricted shares that were legally issued but not vested as of June 30, 2023. Diluted income (loss) per share for the periods equal to basic income (loss) per share as the effect of any convertible notes, stock-based compensation awards or stock warrants would be anti-dilutive. The anti-dilutive stock-based compensation awards consisted of:     June 30, 2024  December 31, 2023 Stock Options  599,597  599,597 Stock Warrants  1,274,807  1,274,807 Restricted Shares  - 86,667
Contingencies	Contingencies The Company accrues for contingent obligations, including estimated legal costs, when the obligation is probable and the amount is reasonably estimable. As facts concerning contingencies become known, the Company reassesses its position and makes appropriate adjustments to the consolidated financial statements. Estimates that are particularly sensitive to future changes include those related to tax, legal and other regulatory matters.
Stock-Based Compensation	Stock-Based Compensation The Company records all equity-ba sed incentive grants to employees and non-employee members of the Company’s Board of Directors in operating expenses in the Company’s Consolidated Statements of Operations based on their fair values determined on the date of grant. Stock-based compensation expense, reduced for estimated forfeitures, is recognized over the requisite service period of the award, which is generally the vesting term of the outstanding equity awards. The expense attribution method is straight-line or accelerated graded-vesting depending on the nature of the award.
Non-cash Activities	Non-cash Activities ROU assets and operating lease obligation recognized - Due to the execution of its office equipment operating lease during the six months ended June 30, 2024 and 2023, the Company recognized a lease liability and ROU asset associated with the lease in the amount of nil and $ 22 thousand, respectively. Reclassification of mining equipment deposit to fixed assets, net - During the six months ended June 30, 2024 and 2023 as mining machines were received, the Company reclassified nil and $ 1.2 million of mining machine costs plus related shipping and customs fees from "Deposits on mining equipment" to "Fixed assets, net" in the consolidated balance sheets, respectively. Change in equity due to change in accounting principal ASC 350-60 - The Company has elected to early adopt the new guidance effective January 1, 2024 resulting in a $ 614 thousand cumulative-effect change to adjust the Company's Bitcoin held on January 1, 2024 with the corresponding entry to beginning accumulated deficit.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of Anti-dilutive Stock Based Compensation Awards and Convertible Notes	The anti-dilutive stock-based compensation awards consisted of:     June 30, 2024  December 31, 2023 Stock Options  599,597  599,597 Stock Warrants  1,274,807  1,274,807 Restricted Shares  - 86,667

Digital Asset (Tables)

Digital Asset (Tables)	6 Months Ended
	Jun. 30, 2024
Digital Assets [Abstract]
Schedule of Digital assets (Bitcoin and Tether)	Digital assets consisted of the following: June 30, 2024 December 31, 2023 June 30, 2023 Bitcoin $ 10,020,457 $ 3,406,096 $ 1,992,557 Tether 11,647 10,160 - Total digital assets $ 10,032,104 $ 3,416,256 $ 1,992,557 Bitcoin June 30, 2024 December 31, 2023 June 30, 2023 Number of Bitcoin held 160.4 95.1 79.1 Carrying basis - per Bitcoin $ 54,479 $ 35,816 $ 25,190 Fair value - per Bitcoin $ 62,668 $ 42,273 $ 30,469 Carrying basis of Bitcoin $ 8,738,376 $ 3,406,096 $ 1,992,557 Fair value of Bitcoin $ 10,020,457 $ 4,020,202 $ 2,410,098
Schedule of Rollforward of Bitcoin	The following table presents a roll-forward of Bitcoin for the six months ended June 30, 2024, based on the fair value model under ASU 2023-08: June 30, 2024 Bitcoin as of December 31, 2023 $ 3,406,096 Cumulative effect of the adoption of ASU 2023-08 (See Note 1) 614,106 Beginning balance: Bitcoin as of January 1, 2024 4,020,202 Addition of Bitcoin from mining activities 7,490,981 Disposition of Bitcoin from sales ( 4,540,682 ) Gain on fair value of Bitcoin, net 3,049,956 End of period $ 10,020,457 The following table presents a roll-forward of Bitcoin for the six months ended June 30, 2023, prior to the adoption of ASU 2023-08, based on the cost less impairment model under ASC 350: June 30, 2023 Beginning of year $ 888,026 Purchase of Bitcoin 35,157 Production of Bitcoin 5,059,173 Impairment loss on mined Bitcoin ( 439,153 ) Carrying amount of Bitcoin sold ( 3,550,646 ) End of period 1,992,557

Fixed Assets, net (Tables)

Fixed Assets, net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Components of Fixed Assets	The components of fixed assets as of June 30, 2024 and December 31, 2023 are as follows: Useful Life (Years) June 30, 2024 December 31, 2023 Mining machines 4 $ 29,249,432 $ 29,799,782 Real estate assets owned 30 80,057 80,057 Furniture, computer and office equipment 3 - 5 230,062 230,063 Gross fixed assets 29,559,551 30,109,902 Less: accumulated depreciation ( 9,888,040 ) ( 5,590,292 ) Fixed assets, net $ 19,671,511 $ 24,519,610

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Summary of Marketable Equity Securities	Marketable equity securities as of June 30, 2024 and December 31, 2023, and activity for the six months ended June 30, 2024 and year ended December 31, 2023, are as follows: Cost Cost of Shares Sold Gross Unrealized Gain (Loss) Fair Value Marketable equity securities, June 30, 2024 $ 17,860 $ - $ 4,280 $ 22,140 Marketable equity securities, December 31, 2023 $ 743,906 $ ( 739,616 ) $ 13,570 $ 17,860
Schedule of Notes Receivable	June 30, 2024 December 31, 2023 June 30, 2023 Notes receivable from Seastar Medical Holding Corporation $ - $ 1,440,498 $ 2,238,442 End of period $ - $ 1,440,498 $ 2,238,442 June 30, 2024 June 30, 2023 Beginning of year $ 1,440,498 $ 3,807,749 Repayment of Seastar Medical Holding Corporation notes receivable ( 1,449,066 ) ( 1,661,171 ) Accrued interest income 8,568 91,864 End of period $ - $ 2,238,442
Schedule of Investments for the Loan	nvestments for the Loan consist of the following: June 30, 2024 December 31, 2023 June 30, 2023 Current portion of notes receivable from Tech Infrastructure JV I LLC $ 174,529 $ - $ - Notes receivable from Tech Infrastructure JV I LLC - net of current portion 1,936,519 End of period $ 2,111,048 $ - $ - June 30, 2024 June 30, 2023 Beginning of year $ - $ - Borrowings 2,094,351 - Accrued interest income 16,697 - End of period $ 2,111,048 $ -
Information Regarding our Involvement in the VIE	Information regarding our involvement in the VIE as of June 30, 2024 is as follows: (in millions) Financial Statement Maximum Carrying Amount exposure to loss Tech Infrastructure JV I LLC $ 2.1 $ 2.1
Schedule of Long-term Investment - Equity Securities	Long-term investments in Seastar Medical private placement warrants consist of the following: June 30, 2024 December 31, 2023 June 30, 2023 Seastar Medical Holding Corporation (formerly LMAO) warrants $ 11,155 $ 156,992 $ 188,493 End of period $ 11,155 $ 156,992 $ 188,493 June 30, 2024 June 30, 2023 Beginning of year $ 156,992 $ 464,778 Unrealized loss on equity securities ( 145,837 ) ( 276,285 ) End of period $ 11,155 $ 188,493
Summary of Investment in Unconsolidated Affiliates	Long-term investments for the SeaStar Medical common stock consist of the following: June 30, 2024 December 31, 2023 June 30, 2023 Seastar Medical Holding Corporation common stock $ 785,565 $ 1,145,486 $ 1,345,500 End of period $ 785,565 $ 1,145,486 $ 1,345,500 June 30, 2024 June 30, 2023 Beginning of year $ 1,145,486 $ 10,608,750 Unrealized loss on equity investment ( 359,921 ) ( 9,263,250 ) End of period $ 785,565 $ 1,345,500

Debt and Other Financing Arra_2

Debt and Other Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt of the Company consisted of the following at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Financing agreement with Imperial PFS that is unsecured. Down payment of $ 3,438 was required upfront and equal installment payments of $ 3,658 to be made over a 11 month period. The note matures on July 1, 2024 . Annualized interest is 12.05 %. - 21,945 Financing agreement with Imperial PFS that is unsecured. Down payment of $ 36,544 was required upfront and equal installment payments of $ 41,879 to be made over an 10 month period. The note matures on August 1, 2024 . Annualized interest is 9.6 %. 83,753 335,022 Financing agreement with Imperial PFS that is unsecured. Down payment of $ 30,000 was required upfront and equal installment payments of $ 35,103 to be made over a 6 month period. The note matured on June 1, 2024 . Annualized interest is 12.05 %. - 210,619 Secured loan with Brown Family Enterprises LLC. The note matures on May 14, 2025 . Interest is 10 % per annum. 1,500,000 - $ 1,583,753 $ 567,586
Schedule of Principal Payments of Debt	Minimum required principal payments on the Company's debt as of June 30, 2024 are as follows: Maturity Amount 2024 $ 83,753 2025 1,500,000 $ 1,583,753

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Supplemental Balance Sheet Information Related to Operating Leases	The following table presents supplemental balance sheet information related to operating leases as of June 30, 2024 and December 31, 2023: Balance Sheet Line Item June 30, 2024 December 31, 2023 Assets ROU assets Right of use asset, net $ 136,430 $ 189,009 Total lease assets $ 136,430 $ 189,009 Liabilities Current lease liabilities Lease liability $ 117,153 $ 110,384 Long-term lease liabilities Lease liability 25,962 85,775 Total lease liabilities $ 143,115 $ 196,159 Weighted-average remaining lease term (in years) 1.2 1.7 Weighted-average discount rate 7.49 % 7.49 %
Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases	The following table presents supplemental cash flow information and non-cash activity related to operating leases for the three and six months ended June 30, 2024 and 2023: June 30, 2024 2023 Operating cash flow information Cash paid for amounts included in the measurement of lease liabilities $ ( 53,044 ) $ ( 45,913 ) Non-cashflow information ROU assets and operating lease obligation recognized $ - $ 21,887
Schedule of Future Minimum Lease Payment Due	The following table presents maturities of operating lease liabilities on an undiscounted basis as of June 30, 2024: Lease Maturity Table Operating Leases 2024 61,812 2025 85,324 2026 3,163 (less: imputed interest) ( 7,184 ) $ 143,115

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Stock Option Plan Activity	The following is a summary of the stock option plan activity during the six months ended June 30, 2024 and 2023: 2024 2023 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Options outstanding at beginning of the year 599,597 $ 9.00 186,877 $ 19.56 Granted - - 414,417 4.50 Forfeited - - ( 1,697 ) 72.18 Exercised - - - - Options outstanding at June 30, 599,597 $ 9.01 599,597 $ 9.01 Options exercisable at June 30, 387,110 $ 11.06 307,574 $ 11.34
Summary of Restricted Share Activity	The following is a summary of the restricted share activity during the six months ended June 30, 2024 and 2023: 2024 2023 Number of Weighted Average Number of Weighted Average Restricted Shares Award Price Restricted Shares Award Price Restricted Shares outstanding at beginning of the year 86,667 $ 4.51 - $ - Granted - - 260,000 $ 4.51 Vested ( 86,667 ) $ 4.51 ( 43,333 ) $ 4.51 Restricted Shares outstanding at June 30, - $ - 216,667 $ 4.51
Summary of Stock Warrants	The following is a summary of the warrant activity during the six months ended June 30, 2024 and 2023: 2024 2023 Number of Warrants Weighted Average Exercise Price Number of Warrants Weighted Average Exercise Price Warrants outstanding at beginning of the year 1,274,807 $ 30.04 1,279,573 $ 30.00 Granted - - - - Exercised - - - - Forfeited - - - - Warrants outstanding and exercisable at June 30, 1,274,807 $ 30.04 1,279,573 $ 30.00

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended June 30, 2024 Specialty Finance Mining Operations All Other Total Revenue, net $ 89,037 $ 2,893,073 $ 29,237 $ 3,011,347 Depreciation and amortization 1,306 2,336,795 1,601 2,339,702 Operating loss ( 232,247 ) ( 3,276,910 ) ( 1,234,323 ) ( 4,743,480 ) Unrealized loss on investment and equity securities - - ( 1,856,737 ) ( 1,856,737 ) Unrealized gain on marketable securities - - 6,440 6,440 Loss on disposal of assets - ( 33,887 ) - ( 33,887 ) Interest income - - 17,228 17,228 Interest expense - ( 18,400 ) ( 18,493 ) ( 36,893 ) Loss before income taxes ( 232,247 ) ( 3,329,197 ) ( 3,085,885 ) ( 6,647,329 ) Fixed Asset Additions - 1,226,602 - 1,226,602 Six Months Ended June 30, 2024 Specialty Finance Mining Operations All Other Total Revenue, net $ 267,970 $ 7,490,981 $ - $ 7,758,951 Depreciation and amortization 2,672 4,759,857 3,241 4,765,770 Operating loss ( 539,331 ) ( 1,004,073 ) ( 2,637,474 ) ( 4,180,878 ) Unrealized gain on marketable securities - - 4,280 4,280 Unrealized loss on investment and equity securities - - ( 505,758 ) ( 505,758 ) Gain on fair value of purchased Bitcoin, net - - 57,926 57,926 Loss on disposal of assets - ( 42,057 ) - ( 42,057 ) Other income - coupon sales - 4,490 - 4,490 Interest income, net - - 26,353 26,353 Interest expense - ( 89,226 ) ( 18,493 ) ( 107,719 ) Loss before income taxes ( 539,331 ) ( 1,130,866 ) ( 3,073,166 ) ( 4,743,363 ) Fixed Asset Additions - 1,226,602 - 1,226,602 Three Months Ended June 30, 2023 Specialty Finance Mining Operations All Other Total Revenue, net $ 227,328 $ 2,968,322 $ - $ 3,195,650 Depreciation and amortization ( 441 ) 1,168,242 1,319 1,169,120 Operating loss ( 196,900 ) ( 429,493 ) ( 2,529,941 ) ( 3,156,334 ) Unrealized loss on investment and equity securities - - ( 3,716,681 ) ( 3,716,681 ) Unrealized loss on marketable securities - - ( 1,412 ) ( 1,412 ) Symbiont credit reserve reversal - - 1,052,543 1,052,543 Other income - coupon sales - 25,721 - 25,721 Other income - financing revenue - - 37,660 37,660 Interest income - - 116,147 116,147 Loss before income taxes ( 196,900 ) ( 403,772 ) ( 5,041,684 ) ( 5,642,356 ) Fixed Asset Additions 1,228 1,662,218 5,741 1,669,187 Six Months Ended June 30, 2023 Specialty Finance Mining Operations All Other Total Revenue, net $ 449,995 5,059,173 $ - $ 5,509,168 Depreciation and amortization 2,525 1,966,111 2,357 1,970,993 Operating loss ( 408,569 ) ( 886,295 ) ( 3,830,896 ) ( 5,125,760 ) Unrealized loss on marketable securities - - 4,378 4,378 Impairment loss on prepaid machine deposits - ( 36,691 ) - ( 36,691 ) Symbiont credit reserve reversal - - 1,052,543 1,052,543 Unrealized gain on investment and equity securities - - ( 9,539,535 ) ( 9,539,535 ) Realized gain on sale of purchased digital assets - - 1,917 1,917 Other income - coupon sales - 629,312 - 629,312 Other income - financing revenue - - 37,660 37,660 Interest income, net - - 171,224 171,224 Income (loss) before income taxes ( 408,569 ) ( 293,674 ) ( 12,102,709 ) ( 12,804,952 ) Fixed Asset Additions 1,228 1,731,374 12,008 1,744,610

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional information (Detail)					1 Months Ended					3 Months Ended		6 Months Ended		12 Months Ended
	May 06, 2024 Machine	Apr. 12, 2024	May 05, 2023 Machine	Sep. 05, 2022 Machine	May 31, 2024 Miner	Apr. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	May 31, 2023 USD ($)	Jun. 30, 2024 USD ($) Petahash Machine shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 USD ($) Petahash Miner Segment Machine shares	Jun. 30, 2023 USD ($) shares	Dec. 31, 2024 Miner	Dec. 31, 2023 USD ($) Petahash Machine Miner
Summary Of Significant Accounting Policies [Line Items]
Operating segments | Segment												2
Available cash on-hand										$ 145,648		$ 145,648			$ 2,401,831
Bitcoin fair market value amount										10,000,000		10,000,000
Cash institutions exceed the FDIC										0		0			$ 2,200,000
SIPC insurance coverage limit amount										$ 250,000		$ 250,000
Hosting contracts termination notice period		60 days
Number of bitcoin mining operations | Petahash										639		639			615
Uncertain tax positions										$ 0		$ 0			$ 0
Income tax expense/(benefit)										0	$ 0	0	$ 0
Fixed assets										19,671,511		19,671,511			24,519,610
Right to use assets, net of accumulated amortization										136,430		136,430			$ 189,009
Impairment loss										0	0	1,200,000	0
Adjustment to right-of-use asset and lease liability												0	22,000
Reclassification of mining equipment deposits to fixed assets, net												0	1,200,000
Other income - coupon sales										$ 0	$ 26,000	$ 4,000	$ 629,000
Special Product [Member]
Summary Of Significant Accounting Policies [Line Items]
Delinquent assessments maximum due period purchases basis												48 months
Subsidiary Limited Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiary limited liability companies												100%
Symbiont [Member]
Summary Of Significant Accounting Policies [Line Items]
Aggregate purchase price of asset												$ 2,800,000
ASU 2023-08 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative-effect change to adjust bitcoin												$ 614,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Furniture, computer, office equipment, buildings and mining machines, useful lives										30 years		30 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Furniture, computer, office equipment, buildings and mining machines, useful lives										3 years		3 years
Mining Machine [Member]
Summary Of Significant Accounting Policies [Line Items]
Installation of machines | Machine										5,900		5,900			5,900
Estimated useful lives										4 years		4 years			5 years
Other Capitalized Property Plant and Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Fixed assets										$ 500		$ 500
Purchase Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Aggregate purchase price of asset						$ 1,100,000	$ 1,100,000
Core Hosting Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Payment for deposit															$ 2,200,000
Deposit prepayment															$ 2,100,000
Number of hosting agreement contract machine | Machine				3,000
Number of hosting agreement contract miners | Miner					4,000							4,870			4,000
Renewal initial term				90 days
GIGA Hosting Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Deposit prepayment									$ 173,000			$ 88,000			$ 117,000
Refundable deposit amount paid								$ 173,000
Number of hosting agreement contract machine | Machine			1,080
Arthur Hosting Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of hosting agreement contract machine | Machine	3,000
Forecast [Member] | Core Hosting Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of hosting agreement contract miners | Miner														800
REO Management Holdings, LLC [Member] | Maximum [Member] | Subsidiary Limited Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiary limited liability companies												100%
US Digital Mining and Hosting Co., LLC [Member] | Subsidiary Limited Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiary limited liability companies												100%
LMF Acquisition Opportunities Inc [Member] | Subsidiary Limited Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiary limited liability companies												69.50%
Restricted Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of restricted shares, vested | shares										22,000	43,000	86,667	43,333
Number of non vested stock | shares											217,000		217,000
Number of warrants, granted | shares											260,000	0	260,000
Unconsolidated Entities [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage										50%		50%
Unconsolidated Entities [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage										20%		20%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Anti-dilutive Stock Based Compensation Awards and Convertible Notes (Detail) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Restricted shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards		86,667
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards	599,597	599,597
Stock Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards	1,274,807	1,274,807

Digital Asset - Schedule of Dig

Digital Asset - Schedule of Digital Assets (Details) - USD ($)	Jun. 30, 2024	Jan. 01, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Digital Assets [Line Items]
Carrying value of digital assets	$ 10,032,104		$ 3,416,256	$ 1,992,557
Bitcoin [Member]
Digital Assets [Line Items]
Carrying value of digital assets	10,020,457	$ 3,406,096	3,406,096	$ 1,992,557	$ 888,026
Tether [Member]
Digital Assets [Line Items]
Carrying value of digital assets	$ 11,647		$ 10,160

Digital Asset - Schedule of Bit

Digital Asset - Schedule of Bitcoin (Details) - Bitcoin [Member]	6 Months Ended		12 Months Ended
	Jun. 30, 2024 Bitcoin $ / shares	Jun. 30, 2023 Bitcoin $ / shares	Dec. 31, 2023 Bitcoin $ / shares
Digital Assets [Line Items]
Number of Bitcoin held | Bitcoin	160.4	79.1	95.1
Carrying basis - per Bitcoin	$ 54,479	$ 25,190	$ 35,816
Fair value - per Bitcoin	62,668	30,469	42,273
Carrying basis of Bitcoin	8,738,376	1,992,557	3,406,096
Fair value of Bitcoin	$ 10,020,457	$ 2,410,098	$ 4,020,202

Digital Asset - Additional Info

Digital Asset - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Digital Assets [Line Items]
Realized gains on bitcoin	$ 521,000	$ 0
Realized losses on bitcoin			$ 127,000	$ 127,000

Digital Asset - Schedule of Rol

Digital Asset - Schedule of Roll Forward of Bitcoin (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Digital Assets [Line Items]
End of period	$ 10,032,104	$ 1,992,557
Bitcoin [Member]
Digital Assets [Line Items]
Beginning of Year	3,406,096	888,026
Purchase of digital assets		35,157
Production of digital assets		5,059,173
Addition of Bitcoin from mining activities	7,490,981
Impairment loss on mined digital assets		(439,153)
Disposition of digital assets	(4,540,682)
Gain on fair value of Bitcoin, net	3,049,956
Carrying amount of Bitcoin sold		(3,550,646)
End of period	10,020,457	$ 1,992,557
Accounting Standards Update 2023-08 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Bitcoin [Member]
Digital Assets [Line Items]
Beginning of Year	614,106
Accounting Standards Update 2023-08 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Bitcoin [Member]
Digital Assets [Line Items]
Beginning of Year	$ 4,020,202

Fixed Assets, net - Components

Fixed Assets, net - Components of Fixed Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Gross fixed assets	$ 29,559,551	$ 30,109,902
Less: accumulated depreciation	(9,888,040)	(5,590,292)
Fixed assets, net	$ 19,671,511	$ 24,519,610
Mining Machine [Member]
Property Plant And Equipment [Line Items]
Useful Life (Years)	4 years	5 years
Gross fixed assets	$ 29,249,432	$ 29,799,782
Real Estate Assets Owned [Member]
Property Plant And Equipment [Line Items]
Useful Life (Years)	30 years
Gross fixed assets	$ 80,057	80,057
Furniture, Computer and Office Equipment [Member]
Property Plant And Equipment [Line Items]
Gross fixed assets	$ 230,062	$ 230,063
Furniture, Computer and Office Equipment [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Useful Life (Years)	3 years
Furniture, Computer and Office Equipment [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Useful Life (Years)	5 years

Fixed Assets, net - Additional

Fixed Assets, net - Additional Information (Details)		3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 16, 2024 USD ($) Machine	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Machine	Jun. 30, 2023 USD ($)	Dec. 31, 2023 Machine
Property, Plant and Equipment [Line Items]
Sale of impairment		$ 1,200,000
Expected price				$ 1,300,000
Less than the expected price				79,000
Machines sold to third party	$ 79,000
Additional loss recognized upon the asset sale	$ 0
Impairment loss			$ 0		$ 0
Impairment loss on mining machines		0		$ 1,188,058
Mining Machine [Member]
Property, Plant and Equipment [Line Items]
Expected incoming shipment of machines | Machine				21
Number of machines relocation | Machine				365
Number of machines in storage | Machine				365
Sold of machine | Machine	365
Furniture, Computer and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation		$ 2,300,000	$ 1,200,000	$ 4,800,000	$ 2,000,000
Miners
Property, Plant and Equipment [Line Items]
Number of machines into service | Machine				5,900		5,900

Deposits on Mining Equipment _2

Deposits on Mining Equipment and Hosting Services - Additional information (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Deposit [Line Items]
Deposit on mining equipment	$ 20,847	$ 20,837
Mining Machine [Member]
Deposit [Line Items]
Deposit on mining equipment	21,000	21,000
Hosting Agreement [Member] | Prepaid Expenses and Other Current Assets [Member]
Deposit [Line Items]
Hosting fee deposits	$ 400,000	$ 3,100,000

Investments - Additional Inform

Investments - Additional Information (Details)				6 Months Ended
	Dec. 26, 2024 USD ($)	Jun. 06, 2024 USD ($) Machine	Dec. 26, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jan. 29, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Schedule of Investments [Line Items]
Marketable equity securities, Cost of Shares Sold				$ 0		$ (739,616)	$ 0
Note payable - short-term (Note 6)				1,583,753		567,586
Symbiont IO [Member]
Schedule of Investments [Line Items]
Asset acquired for total consideration				$ 2,800,000
Symbiont Assets [Member] | ROFR Agreement {Member] | Notes Receivable
Schedule of Investments [Line Items]
Annual interest rate				16%
Investment maturity date				Dec. 01, 2021
Asset Purchase Agreement [Member]
Schedule of Investments [Line Items]
Sale proceeds of asset			$ 2,000,000
Asset Purchase Agreement [Member] | Forecast [Member]
Schedule of Investments [Line Items]
Amount held in customary indemnity escrow	$ 200,000
Maximum [Member] | Symbiont Assets [Member] | ROFR Agreement {Member] | Notes Receivable
Schedule of Investments [Line Items]
Note payable - short-term (Note 6)				$ 2,000,000
Long Term Investments [Member]
Schedule of Investments [Line Items]
Accrued interest income on debt securities				8,568			$ 91,864
Long Term Investments [Member] | LMFA Financing L L C [Member]
Schedule of Investments [Line Items]
Annual interest rate		18%
MW hosting facility | Machine		15
Loan bears interest at a rate		14%
Principal amortized period		24 months
Unpaid interest will be due and payable period		24 months
Loaned to Tech Infrastructure				2,100,000
Increase credit line				2,900,000
Long Term Investments [Member] | Maximum [Member] | LMFA Financing L L C [Member]
Schedule of Investments [Line Items]
Non-revolving credit line		$ 2,500,000
Seastar Medical [Member] | Credit Agreement [Member]
Schedule of Investments [Line Items]
Accrued interest income on debt securities				0		13,000
Seastar Medical [Member] | Credit Agreement [Member] | LMF Acquisition Opportunities Inc [Member]
Schedule of Investments [Line Items]
Accrued interest income on debt securities				0	$ 1,400,000	3,000
Seastar Medical [Member] | Credit Agreement [Member] | Related Party [Member]
Schedule of Investments [Line Items]
Amount loaned under credit agreement				0		1,127,000
Seastar Medical [Member] | Credit Agreement [Member] | Related Party [Member] | LMF Acquisition Opportunities Inc [Member]
Schedule of Investments [Line Items]
Amount loaned under credit agreement				$ 0	$ 1,400,000	$ 296,000

Investments - Summary of Market

Investments - Summary of Marketable Equity Securities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Investments [Abstract]
Marketable equity securities, Cost	$ 17,860	$ 743,906
Marketable equity securities, Cost of Shares Sold	0	(739,616)	$ 0
Marketable equity securities, Gross Unrealized Gain (Loss)	4,280	13,570
Marketable equity securities, Fair Value	$ 22,140	$ 17,860

Investments - Schedule of Notes

Investments - Schedule of Notes Receivable (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Seastar Medical [Member]
Notes receivable from Seastar Medical Holding Corporation			$ 1,440,498
Long Term Investments
Beginning of year	$ 1,440,498	$ 3,807,749
Accrued interest income on debt securities	8,568	91,864
End of period		2,238,442
Long Term Investments | Seastar Medical [Member]
Notes receivable from Seastar Medical Holding Corporation		2,238,442	$ 1,440,498
Repayment of Seastar Medical Holding Corporation notes receivable	$ (1,449,066)	$ (1,661,171)

Investments - LMFAO and SM Warr

Investments - LMFAO and SM Warrants and SMHC Common Stock - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 07, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Investments [Line Items]
Unrealized gain (loss) on investment and equity securities		$ (1,856,737)	$ (3,716,681)	$ (505,758)	$ (9,539,535)
LMFA Sponsor LLC [Member]
Schedule of Investments [Line Items]
Purchased aggregate of private placement warrants				5,738,000
Investment warrants exercise price	$ 229,520
Seastar Medical Corporation [Member]
Schedule of Investments [Line Items]
Percentage of ownership in outstanding common shares		2.40%		2.40%
Class A Common Stock [Member] | Seastar Medical Corporation [Member]
Schedule of Investments [Line Items]
Shares holds by sponsor				103,500		103,500
Percentage of outstanding common stock held by sponsors				3.50%		3.50%
Seastar Medical [Member]
Schedule of Investments [Line Items]
Share Price		$ 7.59	$ 13	$ 7.59	$ 13
Gain or loss on equity investment in unconsolidated subsidiary		$ 1,100,000	$ 3,500,000	$ 400,000	$ 9,300,000
LMF Acquisition Opportunities Inc [Member] | Seastar Medical Corporation [Member]
Schedule of Investments [Line Items]
Minority interest		30%		30%
Private Placement Warrants [Member] | LMFA Sponsor LLC [Member]
Schedule of Investments [Line Items]
Unrealized loss on equity securities		$ 742,000	200,000	$ 146,000	300,000
Common Stock And Warrants [Member]
Schedule of Investments [Line Items]
Unrealized gain (loss) on investment and equity securities		$ 1,900,000	$ 3,700,000	$ 500,000	$ 9,500,000

Investments - Schedule of Inves

Investments - Schedule of Investments for Loan (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Beginning of year	$ 1,145,486
End of period	785,565
Tech Infrastructure JV I LLC [Member]
Current portion of notes receivable	174,529
Notes receivable net of current portion	1,936,519
Beginning of year	0
Borrowings	2,094,351
Accrued interest income	16,697
End of period	$ 2,111,048

Investments - Information regar

Investments - Information regarding our involvement in the VIE (Details) - Tech Infrastructure JV I LLC [Member] $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Variable Interest Entity [Line Items]
Financial Statement Carrying Amount	$ 2.1
Maximum exposure to loss	$ 2.1

Investments - Schedule of Long

Investments - Schedule of Long Term Investment - Equity Securities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Beginning of year	$ 1,145,486
End of period	785,565
Stock Warrants [Member]
Beginning of year	156,992
End of period	11,155	$ 188,493
Long Term Investments
Beginning of year	156,992	464,778
Unrealized loss on equity securities	(145,837)	(276,285)
End of period	$ 11,155	$ 188,493

Investments - Summary of Invest

Investments - Summary of Investment in Unconsolidated Affiliates (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Beginning of year			$ 1,145,486
Unrealized gain (loss) on investment and equity securities	$ (1,856,737)	$ (3,716,681)	(505,758)	$ (9,539,535)
End of period	785,565		785,565
Seastar Medical Holding Corporation. [Member]
Beginning of year			1,145,486	10,608,750
Unrealized gain (loss) on investment and equity securities			(359,921)	(9,263,250)
End of period	$ 785,565	$ 1,345,500	$ 785,565	$ 1,345,500

Debt and Other Financing Arra_3

Debt and Other Financing Arrangements - Additional Information (Details) $ in Millions	May 13, 2024 USD ($)
Debt Instruments [Abstract]
Secured loan	$ 1.5
Interest on a monthly basis	10%
Maturity Date	May 14, 2025

Debt and Other Financing Arra_4

Debt and Other Financing Arrangements - Schedule of Debt (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable	$ 1,583,753	$ 567,586
Financing agreement with Imperial PFS capital maturing in July 1, 2024 [Member]
Debt Instrument [Line Items]
Notes payable		21,945
Financing agreement with Imperial PFS capital maturing in August 1, 2024 [Member]
Debt Instrument [Line Items]
Notes payable	83,753	335,022
Financing agreement with Imperial PFS capital maturing in June 1, 2024 [Member]
Debt Instrument [Line Items]
Notes payable		$ 210,619
Secured loan with Brown Family Enterprises LLC capital maturing May 14, 2025 [Member]
Debt Instrument [Line Items]
Notes payable	$ 1,500,000

Debt and Other Financing Arra_5

Debt and Other Financing Arrangements - Schedule of Debt (Parenthetical) (Detail) - USD ($)		6 Months Ended
	May 13, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Debt instrument, maturity date	May 14, 2025
Financing agreement with Imperial PFS capital maturing in July 1, 2024 [Member]
Debt Instrument [Line Items]
Down payment for note payable		$ 3,438
Debt instrument, maturity date		Jul. 01, 2024
Annual interest rate		12.05%
Debt instrument, periodic payment		$ 3,658
Debt instrument due period		11 months
Financing agreement with Imperial PFS capital maturing in August 1, 2024 [Member]
Debt Instrument [Line Items]
Down payment for note payable		$ 36,544
Debt instrument, maturity date		Aug. 01, 2024
Annual interest rate		9.60%
Debt instrument, periodic payment		$ 41,879
Debt instrument due period		10 months
Financing agreement with Imperial PFS capital maturing in June 1, 2024 [Member]
Debt Instrument [Line Items]
Down payment for note payable		$ 30,000
Debt instrument, maturity date		Jun. 01, 2024
Annual interest rate		12.05%
Debt instrument, periodic payment		$ 35,103
Debt instrument due period		6 months
Secured loan with Brown Family Enterprises LLC capital maturing May 14, 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		May 14, 2025
Annual interest rate		10%

Debt and Other Financing Arra_6

Debt and Other Financing Arrangements - Schedule of Principal Payments of Debt (Details)	Jun. 30, 2024 USD ($)
Debt Instruments [Abstract]
2024	$ 83,753
2025	1,500,000
Principal amount	$ 1,583,753

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)					3 Months Ended			6 Months Ended
	Feb. 27, 2023 USD ($)	Nov. 08, 2022 USD ($) Container	Sep. 02, 2022	Oct. 31, 2021 USD ($) Container BitcoinMachine	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 29, 2022 USD ($)
Loss Contingencies [Line Items]
Adjustments to right of use of assets and lease liabilities	$ 22,000
Operating lease discount rate	7.35%
Sublease Income					$ 7,000	$ 15,000		$ 15,000	$ 29,000
Lease expense					$ 40,000	$ 28,000		79,000	$ 57,000
Lessee operating lease term of contract	39 months
Impairment charge							$ 3,150,000
Amount of Arbitrator's award		$ 3,200,000
Hosting Agreement [Member]
Loss Contingencies [Line Items]
Number of manufacturing specialty containers | BitcoinMachine				18
Impairment charge							$ 800,000
Payment for deposit				$ 800,000
Additional deposit for each container three months prior to delivery at the hosting site				44,000
Final deposit for each container one month prior to arrival at the hosting site				$ 44,000
Lawsuit filing date			Sep. 02, 2022
Name of defendant			Uptime Hosting LLC
Release and Termination Agreement [Member]
Loss Contingencies [Line Items]
Deposit receivable on termination										$ 800,000
Business Law Group [Member]
Loss Contingencies [Line Items]
Sublease Income								$ 2,500
New Office Lease [Member]
Loss Contingencies [Line Items]
Operating lease beginning date								Jul. 15, 2019
Operating lease expire date								Jul. 31, 2025
Pod5ive Containers [Member] | Uptime Purchase Agreement [Member]
Loss Contingencies [Line Items]
Pod5ive cargo containers | Container				18
Aggregate purchase price of asset				$ 3,150,000
Payment require to payable to acquire assets				$ 2,400,000
Percentage of first payment require payable to acquire assets				75%
Percentage of second payment require payable to acquire assets				25%
Number of manufacturing specialty containers | Container		18
Legal action instituted, value		$ 3,150,000
Minimum [Member]
Loss Contingencies [Line Items]
Operating lease remaining lease term								14 months
Maximum [Member]
Loss Contingencies [Line Items]
Operating lease remaining lease term								23 months

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Supplemental Balance Sheet Information Related to Operating Leases (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Assets and Liabilities, Lessee [Abstract]
ROU assets	$ 136,430	$ 189,009
Current lease liabilities	117,153	110,384
Long-term lease liabilities	25,962	85,775
Total lease liabilities	$ 143,115	$ 196,159
Weighted-average remaining lease term (in years)	1 year 2 months 12 days	1 year 8 months 12 days
Weighted-average discount rate	7.49%	7.49%

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating cash flow information
Lease liability payments	$ (53,044)	$ (45,913)
ROU assets and operating lease obligation recognized		$ 21,887

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Future Minimum Lease Payment Due (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2024	$ 61,812
2025	85,324
2026	3,163
(less: imputed interest)	(7,184)
Total lease liabilities	$ 143,115	$ 196,159

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Plan Activity (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Number of Options
Number of Options, Outstanding at Beginning of the year	599,597	186,877
Number of Options, Granted	0	414,417
Number of Options, Forfeited	0	(1,697)
Number of Options, Exercised	0	0
Number of Options, Outstanding at End of Year	599,597	599,597
Number of Options, Exercisable at End of Year	387,110	307,574
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding at Beginning Balance	$ 9	$ 19.56
Weighted Average Exercise Price, Granted	0	4.5
Weighted Average Exercise Price, Forfeited	0	72.18
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Outstanding at Ending Balance	9.01	9.01
Weighted Average Exercise Price, Exercisable	$ 11.06	$ 11.34

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Restricted Share Activity (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of restricted shares outstanding at, beginning balance			86,667	0
Number of restricted shares, granted		260,000	0	260,000
Number of restricted shares, vested	(22,000)	(43,000)	(86,667)	(43,333)
Number of restricted shares outstanding at, ending balance	0	216,667	0	216,667
Weighted Average, Outstanding at Beginning Balance			$ 4.51	$ 0
Weighted Average Award Price, granted			0	4.51
Weighted Average Award Price, vested			4.51	4.51
Weighted Average, Outstanding at ending balance	$ 0	$ 4.51	$ 0	$ 4.51

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)		3 Months Ended		6 Months Ended
	Feb. 23, 2024 $ / shares	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares	Jun. 26, 2023 USD ($)
Class Of Stock [Line Items]
Reverse stock split, description				On February 23, 2024, the Board approved a one-for-six (1:6) reverse split of the Company’s issued and outstanding common stock, par value $0.001 per share, pursuant to which every six outstanding shares of common stock was converted into one share of common stock (the “Reverse Stock Split”). The Reverse Stock Split was effected by the filing of an amendment to our Certificate of Incorporation on March 7, 2024 which provided that the Reverse Stock Split become effective at 12:01 a.m. eastern time on March 12, 2024.
Reverse stock split ratio	0.1667
Common stock, par value | $ / shares	$ 0.001	$ 0.001		$ 0.001		$ 0.001
Number of options granted | shares				0	414,417
Stock option exercise per share | $ / shares				$ 0	$ 4.5
Recognized stock compensation expense of stock options		$ 100,000	$ 1,100,000	$ 200,000	$ 1,300,000
Aggregate intrinsic value of outstanding common stock options		0		0		$ 0
Stock compensation				$ 76,322	564,930
Remaining weighted average life of the options				8 years 7 months 6 days
Remaining weighted average life of the warrants				2 years 3 months
Common stock, aggregate offering price		2,493		$ 2,493		$ 2,493
Aggregate gross sales limit		3,011,347	$ 3,195,650	7,758,951	$ 5,509,168
Stock Options [Member]
Class Of Stock [Line Items]
Unrecognized compensation cost of stock options		400,000		$ 400,000
Restricted shares [Member]
Class Of Stock [Line Items]
Number of restricted shares, granted | shares			260,000	0	260,000
Unrecognized compensation cost of stock options		0		$ 0
Equity Distribution Agreement
Class Of Stock [Line Items]
Common stock, aggregate offering price							$ 4,700,000
Sale of stock under ATM program | shares				0
Aggregate gross sales limit				$ 4,200,000
Legal and professional fees incurred related to ATM program				119,000
Consulting in Blockchain and Crypto Currency Field [Member] | Two Vendors [Member] | Restricted shares [Member]
Class Of Stock [Line Items]
Stock compensation		5,000	$ 565,000	$ 76,000	$ 565,000
Stock Warrants [Member]
Class Of Stock [Line Items]
Number of restricted shares, granted | shares				0	0
Warrants, aggregate intrinsic value outstanding		$ 0	$ 0	$ 0	$ 0

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Stock Warrants (Detail) - Warrant [Member] - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of restricted shares outstanding at, beginning balance	1,274,807	1,279,573
Number of warrants, granted	0	0
Number of warrants, exercised	0	0
Number of warrants, forfeited	0	0
Number of restricted shares outstanding at, ending balance	1,274,807	1,279,573
Weighted Average, Outstanding at Beginning Balance	$ 30.04	$ 30
Weighted Average Exercise Price, granted	0	0
Weighted Average Exercise Price, exercised	0	0
Weighted Average Exercise Price, forfeited	0	0
Weighted Average, Outstanding at ending balance	$ 30.04	$ 30

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Reportable segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue, net	$ 3,011,347	$ 3,195,650	$ 7,758,951	$ 5,509,168
Depreciation and amortization	2,339,702	1,169,120	4,765,770	1,970,993
Operating loss	(4,743,480)	(3,156,334)	(4,180,878)	(5,125,760)
Unrealized gain (loss) on investment and equity securities	(1,856,737)	(3,716,681)	(505,758)	(9,539,535)
Gain on fair value of purchased Bitcoin, net			57,926
Realized gain on sale of purchased digital assets				1,917
Unrealized gain (loss) on marketable securities	6,440	(1,412)	4,280	4,378
Loss on disposal of assets	(33,887)		(42,057)
Impairment loss on prepaid hosting deposits				(36,691)
Symbiont credit reserve reversal		1,052,543		1,052,543
Other income - coupon sales		25,721	4,490	629,312
Other income - finance revenue		37,660		37,660
Interest income	17,228	116,147	26,353	171,224
Interest expense	(36,893)		(107,719)
Income (Loss) before income taxes	(6,647,329)	(5,642,356)	(4,743,363)	(12,804,952)
Fixed Asset Additions	1,226,602	1,669,187	1,226,602	1,744,610
Operating Segments [Member] | Specialty Finance [Member]
Segment Reporting Information [Line Items]
Revenue, net	89,037	227,328	267,970	449,995
Depreciation and amortization	1,306	(441)	2,672	2,525
Operating loss	(232,247)	(196,900)	(539,331)	(408,569)
Income (Loss) before income taxes	(232,247)	(196,900)	(539,331)	(408,569)
Fixed Asset Additions		1,228		1,228
Operating Segments [Member] | Mining Operations [Member]
Segment Reporting Information [Line Items]
Revenue, net	2,893,073	2,968,322	7,490,981	5,059,173
Depreciation and amortization	2,336,795	1,168,242	4,759,857	1,966,111
Operating loss	(3,276,910)	(429,493)	(1,004,073)	(886,295)
Loss on disposal of assets	(33,887)		(42,057)
Impairment loss on prepaid hosting deposits				(36,691)
Other income - coupon sales		25,721	4,490	629,312
Interest expense	(18,400)		(89,226)
Income (Loss) before income taxes	(3,329,197)	(403,772)	(1,130,866)	(293,674)
Fixed Asset Additions	1,226,602	1,662,218	1,226,602	1,731,374
All Other [Member]
Segment Reporting Information [Line Items]
Revenue, net	29,237
Depreciation and amortization	1,601	1,319	3,241	2,357
Operating loss	(1,234,323)	(2,529,941)	(2,637,474)	(3,830,896)
Unrealized gain (loss) on investment and equity securities	(1,856,737)	(3,716,681)	(505,758)	(9,539,535)
Gain on fair value of purchased Bitcoin, net			57,926
Realized gain on sale of purchased digital assets				1,917
Unrealized gain (loss) on marketable securities	6,440	(1,412)	4,280	4,378
Symbiont credit reserve reversal		1,052,543		1,052,543
Other income - finance revenue		37,660		37,660
Interest income	17,228	116,147	26,353	171,224
Interest expense	(18,493)		(18,493)
Income (Loss) before income taxes	$ (3,085,885)	(5,041,684)	$ (3,073,166)	(12,102,709)
Fixed Asset Additions		$ 5,741		$ 12,008

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended
	Mar. 28, 2024	Feb. 01, 2022	Jan. 02, 2017	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Subsidiaries [Member]
Related Party Transaction [Line Items]
Recoveries incurred				$ 5	$ 17	$ 19	$ 21
Business Law Group Association Law [Member]
Related Party Transaction [Line Items]
Reduction in compensation payable	$ 43	$ 53
Ownership percentage		50%
Receivable from related party				54		54		$ 24
Business Law Group [Member]
Related Party Transaction [Line Items]
Monthly payment for cases							53
Minimum fee paid per unit			$ 700
Collection from property owners				129	159	258	318
Office sublease income				7	15	15	30
Business Law Group [Member] | Out of Pocket Collection Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred by company				$ 25	$ 17	$ 40	$ 30

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Aug. 06, 2024	May 13, 2024
Subsequent Event [Line Items]
Secured loan		$ 1,500,000
Interest on a monthly basis		10%
Maturity Date		May 14, 2025
Subsequent event [Member]
Subsequent Event [Line Items]
Secured loan	$ 5,000,000
Interest on a monthly basis	12%
Payment amount on monthly basis	$ 50
Maturity Date	Aug. 06, 2026
Subsequent event [Member] | BTC and Other Assets [Member]
Subsequent Event [Line Items]
Debt collateral amount	$ 5,000,000