Well folks, looks like CEO Mo has seen the light: On today's earnings call, he's confirmed they're not buying bitcoin for 2026. A nice little turnaround from when they were constantly diluting to add to the bitcoin treasury. It looks like the mining operations are continuing, but otherwise cash will only be used for their products. In any case, Q1 financial results are an improvement from Q4 2025.
"Revenue rose 98% to $4.85 million, gross margin improved to 29%, SG&A and R&D fell, operating loss narrowed, but net loss increased to $28.1 million due to a $20.8 million non-cash mark-to-market loss on bitcoin. Cash totaled $19.0 million as of May 13, 2026."
I have some skin in the game: About 1400 shares at around $2.4.
I do think they need to do a lot to regain trust, but this feels like a step in the right direction. NFA.