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2,477,667 paragraphs from 10-Ks, 10-Qs and 8-Ks with press releases.
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We believe our remediation plan will be sufficient to remediate the material weakness. However, the material weakness will not
Read in the filing ↗ Also in 10-Q of May 6, 2026
In the past, we have identified material weaknesses in our internal control over financial reporting, and additional material weaknesses may occur in the future.
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reporting or that they will prevent or avoid potential future material weaknesses.
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over financial reporting was not effective due to the material weakness described below.
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remediation plan to address the material weakness. Elements of the plan include the following:
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Throughout 2024, management executed the following actions to fully remediate the prior year material weaknesses:
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The Company is in the process of developing and implementing a remediation plan to address the material weakness and will report its remediation efforts along with this material weakness in the Amended Reports.
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While we believe the measures described above will remediate the material weakness identified and strengthen our internal
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This material weakness resulted in material misstatements to property, plant and equipment on the consolidated balance sheet
Read in the filing ↗ Also in 10-Q of May 6, 2026, 10-Q of Jul 28, 2026
material weakness. The plan includes the elements described below, which we are in various stages of implementing.
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• We have identified a material weakness in our internal control over financial reporting, which has resulted in the
Read in the filing ↗ Also in 10-K of Mar 2, 2026
identified and included in management’s assessment. The material weakness was considered in determining the nature, timing, and
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we cannot assure you whether or when we will be successful in remediating the identified material weakness or that
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additional material weaknesses will not be identified in the future. Failure to maintain an effective system of internal control
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assure you whether or when we will be successful in remediating the identified material weakness or that additional material
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identified the following material weakness in the Company’s internal control over financial reporting: the Company did not effectively
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2025, our disclosure controls and procedures were not effective due to the material weakness in internal control over financial
Read in the filing ↗ Also in 10-Q of May 6, 2026
on a timely basis. Management identified the following material weakness in internal control over financial reporting as of December
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the deficiency represents a material weakness in our internal control over financial reporting and our internal control over financial
Read in the filing ↗ Also in 10-Q of May 6, 2026
period covered by this Annual Report on Form 10-K. While we are working to remediate the identified material weakness,
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A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there
Read in the filing ↗ Also in 10-K of Mar 2, 2026, 10-Q of May 6, 2026, 10-K of Mar 2, 2026, 10-Q of Jul 28, 2026, 10-Q of Nov 5, 2026, 10-K of Feb 27, 2025
consolidated financial statements included in this Annual Report on Form 10-K, this material weakness resulted in the restatement of
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Organizations of the Treadway Commission. In our opinion, because of the effect of the material weakness, described below, on the
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assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control
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weakness in our internal control over financial reporting. As of March 31, 2026, this material weakness has not been remediated.
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covered by this Annual Report on Form 10-K. While we are working to remediate the identified material weakness, we cannot
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detected on a timely basis. A material weakness related to controls over the accounting for assets intended for demolition has been
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on a timely basis. The material weakness previously identified and which remains unremediated as of March 31, 2026 is as follows:
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As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, we identified a material weakness in our internal control over financial reporting. As of June 30, 2026, this material weakness has not been remediated.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
future, will be sufficient to remediate the control deficiencies that have led to a material weakness in our internal control over financial
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material weakness and our remediation efforts, see Part II, Item 9A., Controls and Procedures of this Annual Report on Form 10-K.
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With the oversight of senior management and the Audit Committee, we have developed a remediation plan to address the material weakness. The plan includes the elements described below, which we are in various stages of implementing.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that, as of June 30, 2026, our disclosure controls and procedures were not effective due to the material weakness in internal control over financial reporting described below.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
At December 31, 2023, the Company disclosed material weaknesses related to management’s inability to design and implement program change management controls for certain financially relevant systems, related to user access provisioning controls over appropriate segregation of duties and related to controls to ensure transactions were recorded timely and in accordance with GAAP.
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We believe our remediation plan will be sufficient to remediate the material weakness upon the completion of the annual assessment of internal control over financial reporting as of December 31, 2026. However, the material weakness will not be considered remediated until management completes the design and implementation of the actions described above and the controls operate for a sufficient period of time, and management has concluded, through testing, that these controls are effective. As we test our internal controls over financial reporting, we may determine that additional measures or modifications to the remediation plan are necessary or appropriate.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
Effective internal control over financial reporting is necessary for us to provide reliable financial reports and, together with adequate disclosure controls and procedures, is designed to prevent fraud. In connection with the audit of our consolidated financial statements for the year ended December 31, 2023, we and our independent registered public accounting firm identified material weaknesses in the Company’s internal control over financial reporting which were subsequently remediated.
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If our internal control over financial reporting or our disclosure controls and procedures are not effective, including the steps taken to remediate our prior material weaknesses, the reliability of our financial reporting, investor confidence, and the value of our securities could be materially and adversely affected. The failure to implement and maintain effective internal control over financial reporting could result in errors in our financial statements that could result in a restatement of its financial statements, causing us to fail to meet its reporting obligations.
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This material weakness resulted in material misstatements to property, plant and equipment in the consolidated balance sheet and impairment of property, plant and equipment in the consolidated statement of operations, which were corrected prior to the issuance of the consolidated financial statements as of and for the year ended December 31, 2025. However, the misstatements resulted in the restatement of previously issued annual and interim financial statements. The control deficiency described above created a reasonable possibility that a material misstatement of the consolidated financial statements will not be prevented or detected on a timely basis. We concluded the deficiency represents a material weakness in our internal control over financial reporting. Our internal control over financial reporting was determined to be not effective as of December 31, 2025 and continues to be not effective as of September 30, 2026.
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We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
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As a result of the errors described above, the Company has identified a material weakness in its internal control over financial reporting. The Company’s management reevaluated the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures and concluded that the Company’s internal control over financial reporting and disclosure controls and procedures were …
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This Current Report on Form 8-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). Forward-looking statements may include words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements relating to the impact of the restatement of the financial statements in the Amended Reports and the timing of the remediation of the identified material weakness. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company.
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… security breaches, which could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting the blockchain industry and the blockchain hosting market; the identification of material weaknesses in our internal control over financial reporting; price volatility of digital assets and bitcoin in particular; the “halving” of rewards available on the Bitcoin network, or the reduction of …
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… could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting high performance computing, the blockchain industry and the blockchain hosting market; the identification of material weaknesses in our internal control over financial reporting; price volatility of digital assets and bitcoin in particular; potential changes in the interpretive positions of the SEC or its staff with …
Read in the filing ↗ Also in 8-K of Nov 6, 2024, 8-K of Aug 7, 2024, 8-K of May 8, 2024
… could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting high performance computing, the blockchain industry and the blockchain hosting market; the identification of material weaknesses in our internal control over financial reporting; price volatility of digital assets and bitcoin in particular; potential changes in the interpretive positions of the SEC or its staff with …
Read in the filing ↗ Also in 8-K of Feb 26, 2025, 8-K of Aug 7, 2024
… security breaches, which could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting the blockchain industry and the blockchain hosting market; the identification of material weaknesses in our internal control over financial reporting; price volatility of digital assets and bitcoin in particular; the “halving” of rewards available on the Bitcoin network, or the reduction of …
Read in the filing ↗
… security breaches, which could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting the blockchain industry and the blockchain hosting market; the identification of material weaknesses in our internal control over financial reporting; price volatility of digital assets and bitcoin in particular; the “halving” of rewards available on the Bitcoin network, or the reduction of …
Read in the filing ↗