v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Digital asset, fair value $ 84,867,000 $ 73,942,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Nonrelated Party    
Debt, current, fair value $ 100,519,000 $ 0
Related Party    
Debt, current, fair value $ 166,135,000 $ 0
Convertible Preferred Stock    
Preferred stock, shares authorized (in shares) 0 115,983,447
Preferred stock, shares issued (in shares) 0 111,900,495
Preferred stock, shares outstanding (in shares) 0 111,900,495
Preferred stock, par value (in dollars per share)   $ 0.00001
Liquidation preference   $ 528,566,000
Common Stock    
Common stock, shares authorized (in shares) 0 240,820,153
Common stock, par value per share (in USD per share)   $ 0.00001
Common stock, shares issued (in shares) 0 69,300,284
Common stock, shares outstanding (in shares) 0 69,300,284
Preferred Stock    
Preferred stock, shares authorized (in shares) 100,000,000  
Preferred stock, shares issued (in shares) 0  
Preferred stock, shares outstanding (in shares) 0  
Preferred stock, par value (in dollars per share) $ 0.0001  
Common Class A    
Common stock, shares authorized (in shares) 1,000,000,000 0
Common stock, par value per share (in USD per share) $ 0.0001  
Common stock, shares issued (in shares) 178,485,407 0
Common stock, shares outstanding (in shares) 178,485,407 0
Common Class B    
Common stock, shares authorized (in shares) 200,000,000 0
Common stock, par value per share (in USD per share) $ 0.0001  
Common stock, shares issued (in shares) 37,893,047 0
Common stock, shares outstanding (in shares) 37,893,047 0
Blockchain Common Stock    
Common stock, shares authorized (in shares) 500,000,000  
Common stock, par value per share (in USD per share) $ 0.0001  
Common stock, shares issued (in shares) 0  
Common stock, shares outstanding (in shares) 0