v3.25.1
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Net Investment Income [Line Items]            
Cash equivalents $ 96,982     $ 320,060    
Bitcoin 979,635 [1] $ 929,078 $ 431,661 $ 357,981 [1] $ 126,951 $ 56,241
ILAL derivative asset 72   1,832      
Amount            
Net Investment Income [Line Items]            
Cash equivalents [2] 96,410   120,638      
Receivable from bitcoin collateral [3]     77,827      
Bitcoin 979,635   431,661      
ILAL derivative asset 71   1,832      
Investment in debt security 3,896   918      
Interest rate swap derivative 23   100      
Warrant liabilities 128          
Level 1            
Net Investment Income [Line Items]            
Cash equivalents [2] 96,410   120,638      
Receivable from bitcoin collateral [3]     0      
Bitcoin 979,635   431,661      
ILAL derivative asset 0   0      
Investment in debt security 0   0      
Interest rate swap derivative 0   0      
Warrant liabilities 0          
Level 2            
Net Investment Income [Line Items]            
Cash equivalents [2] 0   0      
Receivable from bitcoin collateral [3]     0      
Bitcoin 0   0      
ILAL derivative asset 0   1,832      
Investment in debt security 0   918      
Interest rate swap derivative 23   (0)      
Warrant liabilities 128          
Level 3            
Net Investment Income [Line Items]            
Cash equivalents [2] 0   0      
Receivable from bitcoin collateral [3]     77,827      
Bitcoin 0   0      
ILAL derivative asset 71   0      
Investment in debt security 3,896   0      
Interest rate swap derivative 0   $ 100      
Warrant liabilities $ 0          
[1] Includes Bitcoin - current of $832,690 and Bitcoin - noncurrent of $146,945 as presented within condensed consolidated balance sheets as of March 31, 2025.
[2] Represents money market funds.
[3] See Note 9 - Loans for more information.