v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 14,035 $ 47,249
Digital assets receivable 147,404  
Research and development incentive receivable 602 704
Prepaid expenses and other current assets 40 86
Total current assets 162,081 48,039
Right of use assets, net 38 262
Deferred costs 401  
Deposits 662 823
Total assets 163,182 49,124
Current liabilities:    
Accounts payable 1,981 4,743
Accrued expenses 2,067 8,536
Income tax payable 472 531
Lease liability 38 266
Total current liabilities 4,558 14,076
Non-current liabilities:    
Deferred tax liability 5,118  
Total liabilities 9,676 14,076
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively
Common stock, $0.001 par value; 490,000,000 and 240,000,000 shares authorized; 83,851,051 and 38,329,894 shares issued and outstanding as of December 31, 2025 and 2024, respectively 84 38
Stock subscription receivable (150)  
Additional paid-in capital 616,216 502,501
Accumulated other comprehensive loss (95) (120)
Accumulated deficit (462,549) (467,371)
Total stockholders' equity 153,506 35,048
Total liabilities and stockholders' equity $ 163,182 $ 49,124