Debt |
12 Months Ended |
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Dec. 31, 2025 | |
| Debt Disclosure [Abstract] | |
| Debt | Debt On November 17, 2025, the Company entered into a Loan Term Sheet under its Amended and Restated Master Digital Currency Loan Agreement with Galaxy Digital LLC, pursuant to which the Company borrowed $60.0 million (the “Galaxy Loan”). The borrowing is structured as an evergreen, callable loan, under which Galaxy may recall, and the Company may elect to repay, all or a portion of the outstanding principal with 30 days’ notice. The Galaxy Loan bears a Borrow Fee of 9.0%, per annum, and interest expense recognized on the Galaxy Loan for the year ended December 31, 2025 was $0.6 million. Interest expense is recorded on the consolidated statement of operations and comprehensive (loss) income. As of December 31, 2025, the Galaxy Loan was paid in full.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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