Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash	$ 41,532,140	$ 17,032,748
Prepaid expenses and other current assets	1,553,110	353,318
Total current assets	43,085,250	17,386,066
Digital assets	541,569,363	501,760,369
Total assets	584,654,613	519,146,435
Current liabilities
Accounts payable	402,311	1,090,274
Accrued expenses	739,033	2,196,090
Total current liabilities	1,141,344	3,286,364
Deferred tax liability	113,713,951	117,934,191
Total liabilities	114,855,295	121,220,555
Commitments and contingencies (see Note 7)
Stockholders’ equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of March 31, 2026 and December 31, 2025
Common stock, $0.0001 par value, 1,000,000,000 shares authorized as of March 31, 2026 and December 31 2025, 56,656,517 shares and 37,112,466 shares issued and 56,656,271 shares and 37,112,220 shares outstanding as of March 31, 2026 and December 31 2025, respectively	5,665	3,711
Additional paid-in capital	590,024,159	470,809,478
Accumulated deficit	(120,160,541)	(72,817,344)
Treasury stock, at cost, 246 shares held in treasury as of March 31, 2026 and December 31, 2025	(69,965)	(69,965)
Total stockholders’ equity	469,799,318	397,925,880
Total liabilities and stockholders’ equity	$ 584,654,613	$ 519,146,435

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).