v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2026
Income Statement [Abstract]      
Revenue $ 37 $ 38
Operating Expenses      
General and administrative 8 11,304 15,556
Stock-based compensation 3,723 7,263
Total Operating Expenses 8 15,027 22,819
Operating Loss (8) (14,990) (22,781)
Other Income (expense)      
Unrealized (loss) gain on digital assets 14,296 (49,362) (154,829)
Realized loss on digital assets (2,676) (2,676)
Change in fair value of convertible notes conversion feature 109 946
Realized loss on put option liability (914)
Gain on extinguishment of debt 5,933
Interest and dividend income 128 871
Interest expense (760) (1,860)
Change in fair value of derivative liability 10,330
Other (expenses) income, net 24,626 (52,561) (152,529)
Net (Loss) Income Before Taxes 24,618 (67,551) (175,310)
Income tax benefit (2,504) (2,504)
Net (Loss) Income $ 24,618 $ (65,047) $ (172,806)
Weighted average number of shares of common stock outstanding, basic 3,809,524 89,394,753 86,164,488
Net (loss) income per common stock, basic $ 6.46 $ (0.73) $ (2.01)
Weighted average number of shares of common stock outstanding diluted 28,404,762 89,394,753 86,164,488
Net  (loss) income per common stock, diluted $ 0.50 $ (0.73) $ (2.01)