v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 15,338 $ 44,976
Restricted cash 149,885
Prepaid expenses and other current assets 1,698 2,166
Total current assets 17,036 197,027
Digital assets 313,378 441,791
Right-of-use asset 961
Fixed assets, net 304 52
Intangible assets, net 14,095
Goodwill 12,671
Other non-current assets 7 16
Total Assets 358,452 638,886
Current Liabilities    
Accounts payable and accrued expenses 1,655 1,831
Conversion feature liability - convertible notes 23
Convertible notes, net 92,256
Lease liability, current 298
Other current liabilities 112 1
Derivative securities liabilities 428
Total current liabilities 94,344 2,260
Conversion feature liability - convertible notes 2,278
Convertible notes, net 214,172
Deferred tax liabilities 578
Lease liability, non-current 736
Total long term liabilities 1,314 216,450
Total liabilities 95,658 218,710
Preferred stock; 50,000,000 authorized shares; no shares issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock; $0.001 par value; 550,000,000 authorized shares; 94,651,912 shares issued and 88,574,486 shares outstanding as of June 30, 2026, 85,166,604 shares issued and 84,327,208 shares outstanding as of December 31, 2025 94 85
Treasury stock, at cost; 6,077,426 shares and 839,396 shares as of June 30, 2026 and December 31, 2025, respectively (15,600) (2,847)
Additional paid-in capital 480,082 451,914
Accumulated deficit (201,782) (28,976)
Total stockholders’ equity 262,794 420,176
Total liabilities and stockholders’ equity $ 358,452 $ 638,886