v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,689 $ 14,035
Digital assets receivable 73,849 147,404
Research and development incentive receivable 616 602
Prepaid expenses and other current assets 768 40
Total current assets 81,922 162,081
Right of use assets, net 38 38
Deferred costs 385 401
Deposits 33 662
Other investment 5,000  
Total assets 87,378 163,182
Current liabilities:    
Accounts payable 516 1,981
Accrued expenses 1,966 2,067
Income tax payable 483 472
Lease liability 38 38
Total current liabilities 3,003 4,558
Non-current liabilities:    
Deferred tax liability   5,118
Total liabilities 3,003 9,676
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
Common stock, $0.001 par value; 490,000,000 shares authorized; 93,927,528 and 83,851,051 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 94 84
Stock subscription receivable   (150)
Additional paid-in capital 624,082 616,216
Accumulated other comprehensive loss (86) (95)
Accumulated deficit (539,715) (462,549)
Total stockholders' equity 84,375 153,506
Total liabilities and stockholders' equity $ 87,378 $ 163,182