$BGIN
BGIN BLOCKCHAIN Ltd
CIK:0001945565|SEC Filings
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
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| Revenues: | |||||
| Total Revenue | $ 67,395,903 | $ 302,277,581 | $ 257,268,371 | ||
| Costs of Revenues: | |||||
| Total costs of revenues | 142,988,309 | 174,591,671 | 58,095,028 | ||
| Gross (loss) profit | (75,592,406) | 127,685,910 | 199,173,343 | ||
| Operating costs and expenses: | |||||
| Selling expenses | 393,458 | 702,916 | 1,148,308 | ||
| General and administrative | 13,868,940 | 7,157,554 | 14,570,383 | ||
| Research and development | 20,191,147 | 16,374,310 | 10,099,575 | ||
| Realized loss on future contracts | 560,492 | 726,746 | |||
| Rewards earned from crypto short-term investments (right to receive cryptocurrencies) | (438,266) | (3,653,722) | |||
| Change in fair value of cryptocurrencies | 23,355,675 | 8,446,437 | (312,722) | ||
| Impairment of property and equipment | 42,570,833 | 16,297,933 | |||
| Total operating costs and expenses | 100,502,279 | 46,052,174 | 25,505,544 | ||
| (Loss) income from operations | (176,094,685) | 81,633,736 | 173,667,799 | ||
| Other (income) expenses: | |||||
| Foreign exchange loss | 189,490 | 509,319 | 131,366 | ||
| Interest income | (942,892) | (1,174,582) | (63,112) | ||
| Other (income) expenses, net | (729,507) | 1,512,933 | 26,073 | ||
| Total other (income) expenses | (1,482,909) | 847,670 | 94,327 | ||
| (Loss) income before provision for income taxes | (174,611,776) | 80,786,066 | 173,573,472 | ||
| Current income tax expenses | 228,677 | 16,757,614 | 34,090,755 | ||
| Deferred income tax expense (recovery) | 2,112,353 | (2,112,353) | (278,065) | ||
| Income tax expense | 2,341,030 | 14,645,261 | 33,812,690 | ||
| Net (loss) income | (176,952,806) | 66,140,805 | 139,760,782 | ||
| Net (loss) income attributable to non-controlling interest | (94,972) | 208,558 | 52,589 | ||
| Net (loss) income attributable to ordinary shareholders | (176,857,834) | 65,932,247 | 139,708,193 | ||
| Total | (176,952,806) | 66,140,805 | 139,760,782 | ||
| Foreign currency translation adjustment - gain | 870 | ||||
| Total comprehensive (loss) income | (176,952,806) | 66,140,805 | 139,761,652 | ||
| Comprehensive (loss) income attributable to non-controlling interest | (94,972) | 208,558 | 52,589 | ||
| Comprehensive (loss) income attributable to ordinary shareholders | (176,857,834) | 65,932,247 | 139,709,063 | ||
| Total | $ (176,952,806) | $ 66,140,805 | $ 139,761,652 | ||
| Basic (losses) earnings per share attribute to BGIN BLOCKCHAIN LIMITED ordinary shareholders (in Dollars per share) | [1] | $ (1.62) | $ 0.61 | $ 1.3 | |
| Diluted (losses) earnings per share attribute to BGIN BLOCKCHAIN LIMITED ordinary shareholders (in Dollars per share) | [1] | $ (1.62) | $ 0.61 | $ 1.3 | |
| Weighted average number of Class A and Class B ordinary shares outstanding- Basic (in Shares) | [1] | 109,060,159 | 107,812,503 | 107,812,503 | |
| Weighted average number of Class A and Class B ordinary shares outstanding- Diluted (in Shares) | [1] | 109,060,159 | 107,812,503 | 107,812,503 | |
| Mining revenue | |||||
| Revenues: | |||||
| Total Revenue | $ 42,940,318 | $ 45,030,201 | $ 13,000,074 | ||
| Sales of mining machines | |||||
| Revenues: | |||||
| Total Revenue | 15,254,872 | 192,162,144 | 219,782,989 | ||
| Hosting revenue | |||||
| Revenues: | |||||
| Total Revenue | 3,339,426 | 6,247,292 | 482,186 | ||
| Mining pool revenue | |||||
| Revenues: | |||||
| Total Revenue | 5,861,287 | 58,837,944 | 24,003,122 | ||
| Costs of mining revenue | |||||
| Costs of Revenues: | |||||
| Total costs of revenues | 63,333,746 | 29,711,122 | 8,451,706 | ||
| Costs of sales of mining machines | |||||
| Costs of Revenues: | |||||
| Total costs of revenues | 71,207,327 | 81,713,511 | 25,389,335 | ||
| Costs of hosting revenue [Member] | |||||
| Costs of Revenues: | |||||
| Total costs of revenues | 2,643,980 | 4,897,740 | 488,837 | ||
| Costs of mining pool revenue [Member] | |||||
| Costs of Revenues: | |||||
| Total costs of revenues | $ 5,803,256 | $ 58,269,298 | $ 23,765,150 | ||
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Consolidated Balance Sheets - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Current Assets | ||||
| Cash | $ 26,286,333 | $ 114,804,348 | ||
| Accounts receivable, net | 9,544 | |||
| Inventories | 7,849,479 | 12,491,133 | ||
| Prepaid expenses | 6,112,779 | 9,188,914 | ||
| Other receivables | 195,417 | 8,945,986 | ||
| Deferred issuance costs | 795,797 | |||
| Intangible assets – cryptocurrencies | 22,450,733 | 32,143,476 | ||
| Rights to receive cryptocurrencies | 16,193,593 | |||
| Total current assets | 63,854,199 | 194,664,583 | ||
| Non-current assets | ||||
| Deposits and other non-current assets | 1,436,415 | 1,834,897 | ||
| Right-of-use assets | 227,320 | 431,707 | ||
| Deferred income tax assets | 2,112,353 | |||
| Property and equipment, net | 27,317,731 | 71,744,370 | ||
| Total assets | 92,835,665 | 270,787,910 | ||
| Current liabilities | ||||
| Accounts payable and accrued liabilities | 3,288,728 | 7,190,436 | ||
| Taxes payable | 34,086,665 | 51,845,186 | ||
| Contract liabilities | 267,726 | 952,340 | ||
| Operating lease liabilities – current | 131,672 | 322,388 | ||
| Other payables | 199,384 | 281,898 | ||
| Total current liabilities | 37,997,956 | 60,602,611 | ||
| Operating lease liabilities – non-current | 88,125 | 123,015 | ||
| Total liabilities | 38,086,081 | 60,725,626 | ||
| Commitments and contingencies | ||||
| Shareholders’ equity | ||||
| Additional paid-in capital | 26,637,236 | |||
| Retained earnings | 28,096,362 | 209,954,196 | ||
| Accumulated other comprehensive loss | (244,059) | (244,059) | ||
| Total shareholders’ equity | 54,492,409 | 209,710,137 | ||
| Non-controlling interest | 257,175 | 352,147 | ||
| Total liabilities and shareholders’ equity | 92,835,665 | 270,787,910 | ||
| Class A ordinary shares | ||||
| Shareholders’ equity | ||||
| Ordinary shares value | [1] | 2,347 | ||
| Class B ordinary shares | ||||
| Shareholders’ equity | ||||
| Ordinary shares value | [1] | 523 | ||
| Related Party | ||||
| Current Assets | ||||
| Due from related parties | 949,914 | 101,336 | ||
| Current liabilities | ||||
| Due to related party | $ 23,781 | $ 10,363 | ||
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