v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (47,343,197) $ (2,541,704)
Adjustments to reconcile net loss to net cash used in operating activities:    
Unrealized loss from digital assets holdings 15,013,304
Deferred tax benefit (4,220,240)
Stock based compensation 32,259,757 219,179
Increase in operating assets:    
Prepaid expenses and other current assets (1,199,792) (423,103)
Increase in operating liabilities:    
Accounts payable (687,963) 63,003
Accrued expenses (1,457,057) (6,376)
Net cash used in operating activities (7,635,188) (2,689,001)
Cash flows from investing activities:    
Purchase of digital assets (54,822,298)
Net cash used in investing activities (54,822,298)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon registered direct public equity offerings 54,894,300
Proceeds from issuance of common stock upon at-the-market offerings 35,526,308
Proceeds from exercise of common stock warrants 94,711
Payment of deferred offering costs and other issuance costs (3,558,441)
Proceeds from insurance premium financing liability 308,924
Repayment of insurance premium financing liability (60,325)
Repayments of note payable (43,031)
Net cash provided by financing activities 86,956,878 205,568
Net increase (decrease) in cash 24,499,392 (2,483,433)
Cash, beginning of period 17,032,748 3,559,361
Cash, end of period 41,532,140 1,075,928
Cash paid for interest expense 8,471
Supplemental disclosure of non-cash financing activities:    
Issuance of note payable for settlement of previously incurred professional fees 314,485
Issuance of options to settle liability $ 200,212