v3.26.1
Schedule of Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Segment Reporting [Line Items]          
Cash $ 56,195   $ 56,195   $ 28,539
USDC stablecoin     1,882
Crypto assets at fair value 988,838   988,838   1,899,683
Crypto assets at cost 369,148   369,148   500,912
Other assets 751   751   18
Total consolidated assets 1,416,092   1,416,092   2,431,766
Revenue from staking 11,161 $ 29 22,662 $ 29  
Revenue from affiliate marketing 367 668 924 1,410  
Total revenue 11,528 697 23,586 1,439  
Gains and (losses) from operations          
Realized gain on crypto assets, net 1,433 5,374 13,438 5,374  
Unrealized loss on crypto assets at fair value, net (321,003) (2,437) (827,667) (2,437)  
Total gains (losses) from operations, net (393,453) (103,433) (1,078,035) (104,417)  
Share based compensation     6,056 106  
Impairment of crypto assets at cost 76,093 87,813 267,763 87,813  
Segment net loss from operations before income taxes (393,275) (103,396) (1,077,654) (104,368)  
ETH Treasury Management [Member]          
Gains and (losses) from operations          
Segment net loss from operations before income taxes (393,214) (101,926) (1,077,546) (101,926)  
Affiliate Marketing Services [Member]          
Gains and (losses) from operations          
Segment net loss from operations before income taxes (61) (1,470) (108) (2,442)  
Operating Segments [Member]          
Segment Reporting [Line Items]          
Cash 56,195   56,195   28,539
USDC stablecoin         1,882
Crypto assets at fair value 988,838   988,838   1,899,683
Crypto assets at cost 369,148   369,148   500,912
Other assets 1,911   1,911   750
Total consolidated assets 1,416,092   1,416,092   2,431,766
Revenue from staking 11,161 29 22,662 29  
Revenue from affiliate marketing 367 668 924 1,410  
Total revenue 11,528 697 23,586 1,439  
Gains and (losses) from operations          
Realized gain on crypto assets, net 1,433 5,374 13,438 5,374  
Unrealized loss on crypto assets at fair value, net (321,003) (2,437) (827,667) (2,437)  
Total gains (losses) from operations, net (319,570) 2,937 (814,229) 2,937  
Cost of revenues 258 488 690 1,098  
Salaries and benefits 2,666 860 5,238 1,164  
Share based compensation 3,055 16,677 6,056 16,746  
Bank fees 299 83 627 85  
Asset manager fees 772 378 2,026 378  
Accounting and Legal expenses 906 366 2,157 740  
Impairment of crypto assets at cost 76,093 87,813 267,763 87,813  
Other segment expenses 1,184 [1] 365 [1] 2,455 [2] 720 [2]  
Segment net loss from operations before income taxes (393,275) (103,396) (1,077,654) (104,368)  
Operating Segments [Member] | ETH Treasury Management [Member]          
Segment Reporting [Line Items]          
Cash 55,561   55,561   28,021
USDC stablecoin         1,882
Crypto assets at fair value 988,838   988,838   1,899,683
Crypto assets at cost 369,148   369,148   500,912
Other assets 1,792   1,792   650
Total consolidated assets 1,415,339   1,415,339   2,431,148
Revenue from staking 11,161 29 22,662 29  
Revenue from affiliate marketing  
Total revenue 11,161 29 22,662 29  
Gains and (losses) from operations          
Realized gain on crypto assets, net 1,433 5,374 13,438 5,374  
Unrealized loss on crypto assets at fair value, net (321,003) (2,437) (827,667) (2,437)  
Total gains (losses) from operations, net (319,570) 2,937 (814,229) 2,937  
Cost of revenues  
Salaries and benefits 2,523 119 4,953 119  
Share based compensation 3,055 16,379 6,056 16,379  
Bank fees 299 76 627 76  
Asset manager fees 772 378 2,026 378  
Accounting and Legal expenses 906 83 2,157 83  
Impairment of crypto assets at cost 76,093 87,813 267,763 87,813  
Other segment expenses 1,157 [1] 44 [1] 2,397 [2] 44 [2]  
Segment net loss from operations before income taxes (393,214) (101,926) (1,077,546) (101,926)  
Operating Segments [Member] | Affiliate Marketing Services [Member]          
Segment Reporting [Line Items]          
Cash 634   634   518
USDC stablecoin        
Crypto assets at fair value    
Crypto assets at cost    
Other assets 119   119   100
Total consolidated assets 753   753   $ 618
Revenue from staking  
Revenue from affiliate marketing 367 668 924 1,410  
Total revenue 367 668 924 1,410  
Gains and (losses) from operations          
Realized gain on crypto assets, net  
Unrealized loss on crypto assets at fair value, net  
Total gains (losses) from operations, net  
Cost of revenues 258 488 690 1,098  
Salaries and benefits 143 741 285 1,045  
Share based compensation 298 367  
Bank fees 7 9  
Asset manager fees  
Accounting and Legal expenses 283 657  
Impairment of crypto assets at cost  
Other segment expenses 27 [1] 321 [1] 58 [2] 676 [2]  
Segment net loss from operations before income taxes $ (61) $ (1,470) $ (108) $ (2,442)  
[1] - other segment items included in Segment net loss include: professional fees, general and administrative, insurance, other income and expenses.
[2] - other segment items included in Segment net loss include: professional fees, general and administrative, insurance, other income and expenses.