Digital Assets and Digital Assets Receivable, Net (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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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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|
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March 31, 2026 |
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December 31, 2025 |
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Bitcoin |
$ |
|
9,012,708 |
|
|
|
8,061,303 |
|
Tether |
|
|
2,195 |
|
|
|
2,171 |
|
Digital assets - current |
|
|
9,014,903 |
|
|
|
8,063,474 |
|
Bitcoin - long-term |
|
|
2,200,000 |
|
|
|
10,433,035 |
|
Total digital assets |
$ |
|
11,214,903 |
|
|
|
18,496,509 |
|
|
|
|
|
|
|
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Bitcoin |
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Number of Bitcoin held |
|
|
164.2 |
|
|
|
211.4 |
|
|
|
|
|
|
|
|
Carrying basis - per Bitcoin |
|
$ |
85,673 |
|
|
$ |
100,863 |
|
Fair value - per Bitcoin |
|
$ |
68,298 |
|
|
$ |
87,505 |
|
Carrying basis of Bitcoin |
|
$ |
14,067,465 |
|
|
$ |
21,322,419 |
|
Fair value of Bitcoin |
|
$ |
11,212,708 |
|
|
$ |
18,494,338 |
|
|
| Schedule of Rollforward of Bitcoin |
The following table presents a roll-forward of Bitcoin for the three months ended March 31, 2026 and 2025:
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March 31, 2026 |
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|
March 31, 2025 |
|
Bitcoin beginning of period |
$ |
|
18,494,338 |
|
|
$ |
14,019,205 |
|
Addition of Bitcoin from mining activities |
|
|
1,978,180 |
|
|
|
2,273,940 |
|
Bitcoin transferred as collateral for Galaxy loan |
|
|
(2,375,176 |
) |
|
|
- |
|
Disposition of Bitcoin from sales |
|
|
(3,100,216 |
) |
|
|
(1,204,680 |
) |
Loss on fair value of purchased Bitcoin, net |
|
|
- |
|
|
|
(52,704 |
) |
Loss on fair value of Bitcoin, net |
|
|
(3,784,418 |
) |
|
|
(1,809,976 |
) |
End of period |
$ |
|
11,212,708 |
|
|
|
13,225,785 |
|
|
| Summary of Digital Assets Receivable, Net |
A summary of digital assets receivable, net is as follows:
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March 31, 2026 |
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|
December 31, 2025 |
|
|
|
|
|
|
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Digital assets receivable |
$ |
11,883,937 |
|
|
$ |
12,687,201 |
|
Credit loss reserve on digital assets receivable |
|
(3,393 |
) |
|
|
(9,187 |
) |
End of period |
$ |
11,880,544 |
|
|
$ |
12,678,014 |
|
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|
|
|
|
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March 31, 2026 |
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|
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|
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|
|
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Beginning of year |
$ |
12,678,014 |
|
|
|
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Transfer of Bitcoin to receivable |
|
2,375,176 |
|
|
|
|
Change in credit loss reserve on digital assets receivable |
|
5,794 |
|
|
|
|
Loss on fair value of digital assets receivable |
|
(3,178,440 |
) |
|
|
|
End of period |
$ |
11,880,544 |
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