SOLAI Ltd

SOLAI Ltd is an international cryptocurrency mining company that began its transformation from a China-based lottery company in December 2020. The company acquired cryptocurrency mining machines, a 7-nanometer mining machine manufacturer named Bee Computing, and a cryptocurrency mining data center in Ohio with a power capacity of 82.5 megawatts. It also completed the acquisition of cryptocurrency mining data centers and Bitcoin mining machines in Ethiopia. SOLAI Limited, a Cayman Islands holding company, holds digital assets related to the cryptocurrency mining business and indirectly holds equity interests in subsidiaries in China and other countries and regions. The company voluntarily suspended its online sports lottery sales services in April 2015. Its previous lottery-related business in China, conducted through variable interest entity (VIE) structures with PRC-incorporated companies, was deconsolidated, and their financial results were no longer included in consolidated financial statements for the third quarter of 2021 following the termination of these VIE structures. As of the date of this annual report, SOLAI Ltd does not maintain any VIE structure in China. SOLAI Ltd operates cryptocurrency mining machines primarily for mining cryptocurrencies such as Bitcoin, Litecoin, and Dogecoin. The primary intent is to accumulate Bitcoin, which may be sold for fiat currency based on market conditions and cash flow needs. Bitcoin mining machines are deployed in data centers in the U.S. As of the date of this annual report, the total hash rate capacity of online Bitcoin mining machines is approximately 269.6 PH/s. For the year ended December 31, 2025, the company produced 30.6 Bitcoins from its Bitcoin cryptocurrency mining operations and recognized revenue of approximately US$3.1 million.