Going-concern and financing risk
Operations require capital and the company has disclosed substantial doubt about continuing as a going concern.
- Scope
- Corporate liquidity and expansion plans
- Materiality
- high
T-REX Acquisition Corp.
T-REX Acquisition Corp. is a U.S.-based company that operates cryptocurrency mining activities through its subsidiaries, with operations centered on Bitcoin mining and related digital-asset acquisition. The company also pursues adjacent infrastructure activities, including data-center operations and the fabrication of deployable mining containers in Florida and Idaho.
−6 374,6 %
−266,1 %
−7 828,2 %
+104,7 %
0.07
0.07
| % | |
|---|---|
| Bitcoin mining | 70% Operation of ASIC-based mining equipment to earn Bitcoin rewards. |
| Virtual asset acquisitions | 10% Acquisition and holding of digital assets as part of treasury and operating activity. |
| Co-location hosting | 10% Hosting third-party mining equipment in exchange for fees and related consideration. |
| Mining infrastructure and containers | 10% Fabrication and marketing of deployable mining containers and related infrastructure. |
The company’s direct economic counterparties are primarily the Bitcoin network and digital-asset markets, where mined...
- Bitcoin mining marketprimary
The company earns mining rewards from the Bitcoin protocol and sells or holds the resulting Bitcoin.
- Third-party mining operatorssecondary
Potential co-location customers that would pay to host their equipment in company-controlled facilities.
- Digital-asset infrastructure userssecondary
Customers for deployable mining containers and related hosting infrastructure.
- Virtual asset counterpartiesprimary
Market participants involved in acquiring, trading, or liquidating digital assets.
T-REX Acquisition Corp. is incorporated in Nevada and operates through subsidiaries in Florida, with mining and...
- •United States is the core operating market
- •Nevada is the corporate domicile
- •Florida hosts mining and related subsidiary operations
- •Idaho includes the Orofino data-center/mining facility
- •Geography matters because power and hosting costs drive mining economics
The company’s strategy is to secure and operate within the Bitcoin network while expanding into adjacent...
01
Increase mining output and operating uptimeshort-term
Mining revenue depends on equipment availability, network conditions, and access to low-cost power.
02
Build adjacent hosting and infrastructure revenuemedium-term
Co-location and container fabrication can diversify revenue away from pure Bitcoin price exposure.
03
Secure capital for operations and expansionshort-term
Mining and infrastructure businesses require ongoing funding for equipment, facilities, and working capital.
The business is exposed to Bitcoin price volatility, mining difficulty, and the risk that its model may not scale into...
Bitcoin price volatility
Mining revenue and asset values are tied to the market price of Bitcoin.
- Scope
- Primary mining operations
- Materiality
- high
Unproven business model
The company has recently shifted into mining and adjacent infrastructure, which may not achieve stable scale.
- Scope
- Mining, co-location, and container fabrication
- Materiality
- high
Energy and hosting cost exposure
Mining profitability depends heavily on electricity pricing and facility economics.
- Scope
- Data-center and mining operations
- Materiality
- high
Competitive intensity
Larger miners may have better access to capital, hardware, and low-cost power.
- Scope
- Bitcoin mining market
- Materiality
- medium
Bitcoin fair-value accounting
Reported gains/losses and asset carrying values
Related-party transactions
Accrued compensation, notes payable, and equity issuance
Acquisition accounting
Property, equipment, and depreciation base
Going-concern assessment
Financial statement presentation and risk assessment
IREN Ltd
IREN · Finance Services
IREN Ltd is a U.S.-listed digital infrastructure company that began as a Bitcoin mining operator and is now expanding into AI Cloud Services and HPC.
Cipher Digital Inc.
CIFR · Finance Services
Nakamoto Inc.
NAKA · Finance Services
Riot Platforms, Inc.
RIOT · Finance Services
T Stamp Inc
IDAI · Services-Prepackaged Software
Republic Digital Acquisition Co
RDAG · Blank Checks
Republic Digital Acquisition Co is a blank check company formed to complete a business combination with one operating business.
: 29/04/2026