v3.26.1
FAIR VALUE MEASUREMENT - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Assets:            
Digital assets $ 1,542,657   $ 3,371,636      
Digital assets - receivable, net 540,868   1,336,868      
Derivative instrument 6,505 $ 8,274 49,319 $ 56,086 $ 35,775 $ 8,947
Liabilities:            
Contingent consideration liability 25,267   13,758     $ 8,138
Money market accounts            
Assets:            
Cash and cash equivalents, fair value 159,703   20,549      
U.S. government bills and securities            
Assets:            
Cash and cash equivalents, fair value 146,137   381,927      
Quoted prices in active markets (Level 1)            
Assets:            
Digital assets 1,542,657   3,371,636      
Digital assets - receivable, net 0   0      
Derivative instrument 0   0      
Liabilities:            
Contingent consideration liability 0   0      
Quoted prices in active markets (Level 1) | Money market accounts            
Assets:            
Cash and cash equivalents, fair value 159,703   20,549      
Quoted prices in active markets (Level 1) | U.S. government bills and securities            
Assets:            
Cash and cash equivalents, fair value 146,137   381,927      
Significant other observable inputs (Level 2)            
Assets:            
Digital assets 0   0      
Digital assets - receivable, net 540,868   1,336,868      
Derivative instrument 6,505   49,319      
Liabilities:            
Contingent consideration liability 0   0      
Significant other observable inputs (Level 2) | Money market accounts            
Assets:            
Cash and cash equivalents, fair value 0   0      
Significant other observable inputs (Level 2) | U.S. government bills and securities            
Assets:            
Cash and cash equivalents, fair value 0   0      
Significant unobservable inputs (Level 3)            
Assets:            
Digital assets 0   0      
Digital assets - receivable, net 0   0      
Derivative instrument 0   0      
Liabilities:            
Contingent consideration liability 25,267   13,758      
Significant unobservable inputs (Level 3) | Money market accounts            
Assets:            
Cash and cash equivalents, fair value 0   0      
Significant unobservable inputs (Level 3) | U.S. government bills and securities            
Assets:            
Cash and cash equivalents, fair value $ 0   $ 0