As of Q4'25, CIFR's latest reported SG&A Expenses stand at USD 10.19M, while R&D Expenses remain at zero. This marks a significant decrease in SG&A Expenses compared to previous quarters, with no allocation to R&D throughout the entire period. From Q1'23 to Q4'25, the chart shows that CIFR consistently reported zero R&D Expenses, indicating no investment in research and development activities. SG&A Expenses exhibited moderate volatility, peaking at USD 26.03M in Q4'24 before dropping sharply to USD 10.19M in Q4'25. The overall trend suggests a focus on controlling operating costs, particularly with the notable reduction in SG&A in the most recent quarter.