Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial assets and liabilities that are measured at fair value on a recurring basis are classified as Level 1, Level 2 and Level 3 as follows (in thousands):


	As of March 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:


Crypto Assets	1,138		—		1,138		—
Total Assets	$	1,138	$	—	$	1,138	$	—

Liabilities:

Warrant liability - Class 1 and Class 2 warrants	13,104		—		—		13,104
Warrant liability - public warrants	1,571		1,571		—		—
Total Liabilities	$	14,675	$	1,571	$	—	$	13,104


	As of December 31, 2024
	Total		Level 1		Level 2		Level 3





Liabilities:

Warrant liability - Class 1 and Class 2 warrants	42,782		—		—		42,782
Warrant liability - public warrants	4,141		4,141		—		—
Total Liabilities	$	46,923	$	4,141	$	—	$	42,782

Fair Value Measurement Inputs and Valuation Techniques

The significant unobservable inputs used for the fair value measurement of our Class 1 Warrants and Class 2 Warrants liabilities as of March 31, 2025 are summarized as follows:


Expected term (years)			4.43
Continuous risk-free rate			3.86%
Expected volatility			125.0%