Digital Assets and Digital Assets Receivable, Net (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Digital Assets and Digital Assets Receivable, Net [Abstract] |
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| Schedule of Digital assets (Bitcoin and Tether) |
Digital assets consisted of the following:
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December 31, 2025 |
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December 31, 2024 |
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Bitcoin |
$ |
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8,061,303 |
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9,019,205 |
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Tether |
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2,171 |
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2,722 |
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Digital assets - current |
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8,063,474 |
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9,021,927 |
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Bitcoin - long-term |
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10,433,035 |
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5,000,000 |
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Total digital assets |
$ |
|
18,496,509 |
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14,021,927 |
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Bitcoin |
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December 31, 2025 |
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December 31, 2024 |
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Number of Bitcoin held |
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211.4 |
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150.2 |
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Carrying basis - per Bitcoin |
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$ |
100,863 |
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$ |
65,332 |
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Fair value - per Bitcoin |
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$ |
87,505 |
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$ |
93,354 |
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Carrying basis of Bitcoin |
|
$ |
21,322,419 |
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|
$ |
9,812,891 |
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Fair value of Bitcoin |
|
$ |
18,494,338 |
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$ |
14,019,205 |
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| Schedule of Rollforward of Bitcoin |
The following table presents a roll-forward of Bitcoin for the year ended December 31, 2025 and 2024, based on the fair value model under ASU 2023-08:
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Bitcoin |
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December 31, 2025 |
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December 31, 2024 |
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Bitcoin beginning of period |
$ |
|
14,019,205 |
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|
$ |
3,406,096 |
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Cumulative effect of the adoption of ASU 2023-08 |
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- |
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614,106 |
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Beginning balance |
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14,019,205 |
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4,020,202 |
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Addition of Bitcoin from mining activities |
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8,283,423 |
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10,432,605 |
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Purchase of Bitcoin |
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22,788,057 |
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485,500 |
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Bitcoin transferred as collateral for Galaxy loan |
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(15,704,686 |
) |
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- |
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Disposition of Bitcoin from sales |
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(9,030,783 |
) |
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(8,309,104 |
) |
Gain (loss) on fair value of purchased Bitcoin, net |
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(52,704 |
) |
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39,197 |
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Gain (loss) on fair value of Bitcoin, net |
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(1,808,174 |
) |
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7,350,805 |
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End of period |
$ |
|
18,494,338 |
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14,019,205 |
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| Summary of Digital Assets Receivable, Net |
A summary of digital assets receivable, net is as follows:
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December 31, 2025 |
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December 31, 2024 |
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Digital assets receivable |
$ |
12,687,201 |
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$ |
- |
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Credit loss reserve on digital assets receivable |
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(9,187 |
) |
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End of period |
$ |
12,678,014 |
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$ |
- |
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December 31, 2025 |
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December 31, 2024 |
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Beginning of year |
$ |
- |
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$ |
- |
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Transfer of Bitcoin to receivable |
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15,704,686 |
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- |
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Credit loss reserve on digital assets receivable |
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(9,187 |
) |
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- |
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Fair market value adjustment on digital assets receivable |
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(3,017,485 |
) |
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End of period |
$ |
12,678,014 |
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$ |
- |
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