v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of assets and liabilities measured at fair value on recurring basis

Fair value measured as of June 30, 2026

Significant

Quoted prices in

Significant other

unobservable

Total carrying

active markets

observable inputs

inputs

  ​ ​ ​

value

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

Bitcoin(a)

$

325,370

$

325,370

$

$

Restricted bitcoin(a)

$

340,668

$

340,668

$

$

Derivative assets(b)

$

88,465

$

$

$

88,465

Derivative liabilities(c)

$

631

$

$

$

631

Contingent consideration liabilities(d)

$

8,195

$

$

$

8,195

Fair value measured as of December 31, 2025

Significant

Quoted prices in

Significant other

unobservable

Total carrying

active markets

observable inputs

inputs

  ​ ​ ​

value

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

Bitcoin(a)

$

1,227,462

$

1,227,462

$

$

Restricted bitcoin(a)

$

347,979

$

347,979

$

$

Derivative assets(b)

$

148,048

$

$

$

148,048

Contingent consideration liabilities(d)

$

8,195

$

$

$

8,195

(a)See Note 5. Bitcoin.
(b)See Note 8. Power Supply Agreements.
(c)See Note 8. Power Supply Agreements. Derivative liability balances are included in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets.
(d)See Note 16. Commitments and Contingencies.