v3.26.1
Digital Assets, at Fair Value (Tables)
3 Months Ended
Mar. 31, 2026
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Changes in Digital Assets
The following table provides a summary of the changes in the Company's digital assets, at fair value for the three months ended March 31, 2026 (in thousands):
Three Months Ended
March 31, 2026
Balance, beginning of period$668,486
Acquisitions521,311
Release of bitcoin held as collateral upon extinguishment of Coinbase loan35,377 
Sales— 
Aggregate cost basis1,225,174 
Change in fair value(295,778)
Balance, end of period$929,396 
Schedule of Investments in Digital Assets
The Company's investments in digital assets, at fair value are summarized below. The Company did not hold any investments in digital assets prior to September 12, 2025.
March 31, 2026December 31, 2025
Approximate number of bitcoin held13,6287,627
Weighted average acquisition cost104,174113,153
Fair value per bitcoin68,198 87,650