v3.26.1
Crypto Assets Held (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]    
Schedule of Crypto Assets Held

 

   March 31, 2026 
   Units   Cost Basis   Fair Value 
Crypto assets held:               
Bitcoin   1   $111   $66 
Total   1   $111   $66 

 

   December 31, 2025 
   Units   Cost Basis   Fair Value 
Crypto assets held:               
Bitcoin   6   $653   $506 
Total   6   $653   $506 

The Company’s crypto assets are comprised solely of Bitcoin. In accordance with ASC Topic 820, Fair Value Measurement, the Company measures the fair value of its Bitcoin based on the quoted end-of-day price on the measurement date for a single Bitcoin on an active trading platform, River.com. Management has determined that River.com, an active exchange market, represents a principal market for Bitcoin and the end-of-day quoted price is both readily available and representative of fair value (Level 1 inputs).

 

The following table sets forth the units held, cost basis, and fair value of its investments in crypto assets, as shown on the consolidated balance sheets as of December 31, 2025 (in thousands):

 

   Units   Cost Basis   Fair Value 
Investments in crypto assets:               
Bitcoin   6   $653   $506 
Total   6   $653   $506 

 

The following table sets forth the units held, cost basis, and fair value of its investments in crypto assets, as shown on the consolidated balance sheets as of December 31, 2024 (in thousands):

 

   Units   Cost Basis   Fair Value 
Investments in crypto assets:               
Bitcoin   31   $2,051   $2,849 
Total   31   $2,051   $2,849 
Schedule of Crypto Assets Reconciliation of Fair Values

The following table presents a reconciliation of the fair values of the Company’s investments in crypto assets for the three months ended March 31, 2026 (in thousands):

 

   Bitcoin 
Balance, December 31, 2025  $506 
Dispositions   (542)
Unrealized loss, net   102
Balance, March 31, 2026  $66 

The following table presents a reconciliation of the fair values of the Company’s investments in crypto assets for the year ended December 31, 2025 (in thousands):

 

   Bitcoin 
Balance, December 31, 2024  $2,849 
Additions   2,750 
Dispositions   (4,148)
Unrealized loss, net   (945)
Balance, December 31, 2025  $506