1 unchanged sentence
Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates.
−Removed: Our market risk exposure is primarily the result of fluctuations in interest rates and foreign exchange rates.
+Added: Our market risk exposure is primarily the result of fluctuations in the price of ZEC, interest rates, and foreign exchange rates.
+Added: ZEC Price Risk
+Added: We are exposed to risk in the price of ZEC, a digital asset that is a material portion of the assets on our balance sheet.
+Added: The price of ZEC has been subject to dramatic price fluctuations and is highly volatile.
+Added: In the twelve months ended December 31, 2025, ZEC has traded between approximately $26.14 and $736.51.
+Added: Any increase or decrease in the fair value of ZEC will require us to recognize unrealized gains or losses, which could be material to our financial results for the applicable reporting period, which may create significant volatility in our reported earnings.
+Added: Any decrease in reported earnings or increased volatility of such earnings could have a material adverse effect on the market price of our securities.
+Added: As ZEC will constitute a substantial part of our balance sheet, if we are unable to generate revenue or secure equity or debt financing in a timely manner, on favorable terms, or at all, we may be required to sell ZEC to satisfy these obligations.
+Added: Any such sale of ZEC may have a material adverse effect on our operating results, financial condition and future prospects, and could impair our ability to secure additional equity or debt financing in the future.
Interest Rate Risk
10 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.