v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Non-current assets    
Goodwill $ 63,062 $ 61,475
Other intangible assets 31,104 33,298
Property and equipment and right-of-use assets 28,369 14,118
Deferred tax assets 2,865 2,088
Other assets 21,311 22,087
Restricted cash 5,727 1,968
Total non-current assets 152,438 135,034
Current assets    
Other assets 47,502 21,209
Derivative financial instruments 0 0
Customer segregated cash 20,044 6,382
Restricted cash 16,839 15,893
Cash and cash equivalents 87,892 31,540
Total current assets 3,804,066 2,912,378
Total assets 3,956,504 3,047,412
Non-current liabilities    
Borrowings 49,982 25,000
Convertible redeemable preference shares 0 47,879
Lease liabilities 14,378 10,756
Deferred tax liabilities 18 6
Other payables 3,000 0
Total non-current liabilities 528,263 561,704
Current liabilities    
Customer segregated cash liabilities 20,044 6,382
Borrowings (non-current) 49,982 25,000
Lease liabilities 5,524 4,246
Other payables 54,028 49,421
Total current liabilities 129,912 85,049
Total liabilities 658,175 646,753
Net assets 3,298,329 2,400,659
EQUITY    
Share capital and share premium 5,110,063 3,821,537
Option premium on convertible redeemable preference shares 0 18,399
Reserves 774,224 858,797
Accumulated deficit (2,668,100) (2,309,053)
Total shareholders' equity attributable to the owners of the Group 3,216,187 2,389,680
Non-controlling interests 82,142 10,979
Total equity 3,298,329 2,400,659
Related party borrowings [member]    
Non-current liabilities    
Borrowings [1] 505,600 482,450
Digital assets loan payable [member]    
Non-current liabilities    
Borrowings 5,267 20,613
Current liabilities    
Borrowings (non-current) 334 0
Digital assets [member]    
Current assets    
Digital assets held - inventories 206,178 573,876
Other assets 1,537,071 1,878,268
Digital assets [member] | Digital assets and investments in financial assets [member]    
Current assets    
Financial assets 1,037,915 132,649
Digital assets [member] | Digital asset loans and receivables [member]    
Current assets    
Financial assets 446,481 166,388
Investment in financial assets [member]    
Current assets    
Financial assets $ 404,144 $ 86,173
[1] The outstanding balances with the the related parties (formerly the parent entity block.one and its subsidiaries) are unsecured, bear interest at 7% annum and are repayable on demand.