Zero mining revenue, 98% cash collapse, 2 million mysterious shares sets up miner’s 7 billion share survival play

SOS Limited shareholders approved steps that could expand the crypto-linked company’s authorized share pool 100-fold, giving it far more room to raise equity after it temporarily stopped direct mining and ended 2025 with just $3.2 million in cash alongside about $79.1 million in Bitcoin and Ethereum.

A July 27 vote, disclosed July 30, creates capacity only. Any dilution would require SOS to complete the required reorganization and charter steps and then issue shares under terms it has not disclosed.

A cash-light crypto balance sheet

SOS’s latest audited balance sheet showed cash and cash equivalents falling from $228.131 million at Dec. 31, 2024, to $3.232 million a year later. At Dec. 31, 2025, it also reported 802 Bitcoin valued at about $70.3 million and 2,949 Ethereum valued at about $8.8 million.

SOS reported a $97.3 million net loss from continuing operations for 2025. Direct cryptocurrency-mining revenue fell from $9.2 million in 2024 to zero after SOS temporarily shut that activity, while hosting-service revenue totaled $7.5 million. It also recorded $5.8 million of mining-equipment impairment. At year-end, market-sensitive digital assets dominated its reported liquid holdings.

… Continue reading the full article at the original source below.