v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash $ 56,195 $ 28,539
USDC stablecoin 1,882
Accounts receivable, net of allowance for credit losses of $0 both periods presented 280 221
Prepaid expenses and other current assets 880 511
Total current assets 57,355 31,153
Crypto assets at fair value 988,838 1,899,683
Crypto assets at cost 369,148 500,912
Other assets 751 18
Total assets 1,416,092 2,431,766
Current Liabilities    
Accounts payable and accrued expenses 5,486 12,749
Total current liabilities 5,486 12,749
Long-Term Liabilities    
Other long term liabilities 86
Total liabilities 5,572 12,749
Commitments and Contingencies (Note 10)  
Stockholders’ Equity    
Common Stock, $0.0001 par value; authorized shares 2,500,000,000; issued 221,054,539 and 198,646,255, respectively; outstanding shares: 216,983,308 and 196,707,797 respectively 22 20
Treasury stock, 4,071,231 of Common Stock at cost (41,743) (31,721)
Additional paid-in capital 3,344,472 3,263,114
Accumulated deficit (1,892,231) (812,396)
Total stockholders’ equity 1,410,520 2,419,017
Total liabilities and stockholders’ equity $ 1,416,092 $ 2,431,766