| Schedule of Short-Term Debt |
Borrowings for the periods presented are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Balance at beginning of period | $ | 139,679 | | | $ | 50,000 | | | $ | 118,848 | | | $ | 30,000 | | | Origination of borrowings | 21,028 | | | 38,354 | | | 118,779 | | | 78,354 | | | Repayment of borrowings | (27,538) | | | (20,000) | | | (104,458) | | | (40,000) | | | Balance at end of period | $ | 133,169 | | | $ | 68,354 | | | $ | 133,169 | | | $ | 68,354 | |
|
| Schedule of Debt |
Borrowings of digital intangible assets for the periods presented are as follows (in thousands, except unit data):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of | | June 30, 2026 | | Bitcoin (“BTC”) | | Solana (“SOL”) | | USDT (“USDT”) | | Other | | Total | | Units | | $ | | Units | | $ | | Units | | $ | | $ | | $ | | Balance as of June 30, 2026 | 4,100 | | $ | 240,088 | | | 350,350 | | $ | 25,759 | | | 13,059,023 | | $ | 13,038 | | | $ | 26,925 | | | $ | 305,810 | | | Balance as of June 30, 2026 - cost basis | | | $ | 325,783 | | | | | $ | 46,280 | | | | | $ | 13,032 | | | $ | 38,186 | | | $ | 423,281 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of | | December 31, 2025 | | Bitcoin (“BTC”) | | Solana (“SOL”) | | USDT (“USDT”) | | Other | | Total | | Units | | $ | | Units | | $ | | Units | | $ | | $ | | $ | | Balance as of December 31, 2025 | 1,714 | | $ | 149,998 | | | 394,000 | | $ | 49,045 | | | 19,500,000 | | $ | 19,468 | | | $ | 15,176 | | | $ | 233,687 | | | Balance as of December 31, 2025 - cost basis | | | $ | 185,558 | | | | | $ | 70,741 | | | | | $ | 19,499 | | | $ | 19,292 | | | $ | 295,090 | |
|