v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements hierarchy

Fair Value

 

Carrying
Value

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

(in thousands)

June 30, 2026

Recorded on a recurring basis:

Digital assets

$

37,858

$

37,858

$

$

Contingent consideration

$

16,749

$

$

$

16,749

Additional disclosures:

Long-term debt

$

589,982

$

$

615,228

$

December 31, 2025

Recorded on a recurring basis:

Digital assets

$

51,834

$

51,834

$

$

Contingent consideration

$

18,000

$

$

$

18,000

Additional disclosures:

Long-term debt

$

463,456

$

$

508,844

$

Schedule of fair value measurements inputs

 

Valuation Technique(s)

 

Unobservable Input

 

Range/Amount
(Average) (a)

June 30, 2026

Contingent Consideration

Option approach methodology simulation

Cost of Debt

5.46% - 8.35%

Coal price volatility

9.2%

Market price of risk adjustment (annual)

6.7%

December 31, 2025

Contingent Consideration

Option approach methodology simulation

Cost of Debt

5.46% - 8.35%

Coal price volatility

9.2%

Market price of risk adjustment (annual)

6.7%

(a)Averages represent the arithmetic average of the inputs and is not weighted by a relative fair value or notional amount.
Schedule of changes in our contingent consideration liability

Three Months Ended

Six Months Ended

June 30, 

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

2025

 

(in thousands)

Beginning balance

$

16,995

$

11,324

$

18,000

$

13,100

Noncash changes in fair value (1)

302

2,005

(189)

2,005

Payments

(548)

(2,652)

(1,062)

(4,428)

Ending balance

$

16,749

$

10,677

$

16,749

$

10,677

(1)Noncash changes in the fair value of our contingent consideration liability are included in the Operating expenses (excluding depreciation, depletion and amortization) line item within our condensed consolidated statements of income.