The Company incurred the following Transaction expenses by segment for the three months ended June 30, 2025 and 2024.


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		June 30, 2025
Digital assets sales costs	$	8,546,795	$	—	$	—	$	8,546,795
Blockchain reward distributions	38,321		—		(4,939)		33,382
Borrowing costs	6,437		—		35,273		41,710
Mining and hosting costs	—		—		741		741
Other transaction expenses (1)	4,925		—		2,387		7,312
Transaction expenses	$	8,596,478	$	—	$	33,462	$	8,629,940


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		June 30, 2024
Digital assets sales costs	$	8,769,445	$	—	$	—	$	8,769,445
Blockchain reward distributions	33,099		—		(3,270)		29,829
Borrowing costs	1,948		—		16,831		18,779
Mining and hosting costs	—		—		10,466		10,466
Other transaction expenses (1)	5,612		—		705		6,317
Transaction expenses	$	8,810,104	$	—	$	24,732	$	8,834,836

_______________

(1)Other transaction expenses include trading commissions, custody, and exchange fees.

The Company incurred the following Transaction expenses by segment for the six months ended June 30, 2025 and 2024.


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		June 30, 2025
Digital assets sales costs	$	21,385,879	$	—	$	—	$	21,385,879
Blockchain reward distributions	106,087		—		(16,259)		89,828
Borrowing costs	12,226		—		63,322		75,548
Mining and hosting costs	—		—		6,275		6,275
Other transaction expenses (1)	13,145		—		6,274		19,419
Transaction expenses	$	21,517,337	$	—	$	59,612	$	21,576,949


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		June 30, 2024
Digital assets sales costs	$	18,017,413	$	—	$	—	$	18,017,413
Blockchain reward distributions	38,693		—		(8,485)		30,208
Borrowing costs	5,957		—		30,705		36,662
Mining and hosting costs	—		—		25,721		25,721
Other transaction expenses (1)	11,231		—		1,691		12,922
Transaction expenses	$	18,073,294	$	—	$	49,632	$	18,122,926

_______________

(1)Other transaction expenses include trading commissions, custody, and exchange fees.