Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of condensed balance sheets

The table below summarizes the amounts shown on our unaudited condensed consolidated balance sheets as of March 31, 2026 (in thousands except units of digital assets):


		March 31, 2026
		Units				Cost Basis				Fair Value
Bitcoin			955			$	95,591			$	65,345
Total Digital assets			955			$	95,591			$	65,345

Schedule of the reconciliation of basic and diluted loss per share

The following table sets forth the reconciliation of basic and diluted loss per share for the three months ended March 31, 2026 and 2025 (in thousands except per share data):


		Three Months Ended March 31,
		2026				2025
Net loss		$	(45,650	)		$	(26,080	)
Net loss attributable to noncontrolling interest		$	(2,380	)		$	—
Net loss for basic and diluted loss per share available to common stockholders		$	(43,270	)		$	(26,080	)
Weighted average number of shares outstanding			6,891				5,065
Weighted average Common Stock warrants exercisable for nominal consideration			—				6,500
Weighted average number of shares, basic			6,891				11,565
Weighted average number of shares, diluted			6,891				11,565
Basic		$	(6.28	)		$	(2.26	)
Diluted		$	(6.28	)		$	(2.26	)