v3.26.1
Equity and Earnings Per Share - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 4 Months Ended 11 Months Ended 12 Months Ended
Dec. 26, 2025
Aug. 25, 2025
Aug. 05, 2025
Aug. 31, 2025
Jun. 06, 2025
Apr. 30, 2025
Apr. 30, 2026
Apr. 30, 2025
Sep. 30, 2025
Class of Stock [Line Items]                  
Common stock, shares issued (in shares)             42,607,962    
Common stock par value (in usd per share)             $ 0.00001    
Class of warrant or right, number of securities called by each warrant or right (in shares)             1    
Beneficial ownership 15.00%                
Share repurchase program, authorized, amount                 $ 250,000
Stock repurchased and retired during period, shares (in shares)             3,242,210    
Weighted-average price (in usd per share)             $ 5.36    
Stock repurchased and retired during period, value             $ 17,400    
Share repurchase program, transaction costs             100    
Proceeds from issuance of common stock             12,928    
Warrants issued             12,928    
Cash and cash equivalents     $ 409,900     $ 2,149 3,061 $ 2,149  
Digital assets     66,300       449,937    
Other affiliate operating expenses             $ 558    
Predecessor                  
Class of Stock [Line Items]                  
Common stock, shares issued (in shares)           1,410   1,410  
Common stock par value (in usd per share)           $ 0   $ 0  
Proceeds from issuance of common stock         $ 0     $ 0  
Cash and cash equivalents           $ 2,149   $ 2,149  
Other affiliate operating expenses         $ 0 $ 0      
Stapled Warrants                  
Class of Stock [Line Items]                  
Shares issued (in shares)       49,504,988          
Common stock at an exercise price (in usd per share)       $ 15.15          
Proceeds from issuance of warrants     305,000            
Additional paid-in capital, net of issuance costs     195,100            
Issuance costs     9,300            
Other affiliate operating expenses     $ 14,600            
Strategic Advisor Warrants                  
Class of Stock [Line Items]                  
Shares issued (in shares)     5,940,598            
Warrants issued     $ 105,600            
Asset Manager Warrants                  
Class of Stock [Line Items]                  
Shares issued (in shares)     990,099            
Warrants issued     $ 15,000            
At The Market Offering Agreement                  
Class of Stock [Line Items]                  
Shares issued (in shares)             856,275    
Proceeds from issuance of common stock             $ 13,100    
Payments of stock issuance costs             $ 200    
At The Market Offering Agreement | Maximum                  
Class of Stock [Line Items]                  
Proceeds from issuance initial public offering   $ 50,000              
Gross proceeds commission, percentage   3.00%              
Series C Junior Participating Preferred Stock                  
Class of Stock [Line Items]                  
Class of warrant or right, number of securities called by each warrant or right (in shares) 0.001                
Stock price (in usd per share) $ 33.50                
Shares, issued (in shares) 1,000                
Discount prevailing market price percentage 50.00%                
Common Stock                  
Class of Stock [Line Items]                  
Fat Panda Acquisition (in shares)             39,000    
Shares issued (in shares)       41,754,478     856,275    
Common stock at an exercise price (in usd per share)       $ 10.10          
Pre-funded Warrants                  
Class of Stock [Line Items]                  
Shares issued (in shares)       7,750,510          
Common stock at an exercise price (in usd per share)       $ 0.00001          
Issuance costs     $ 23,900