v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (61,245) $ (23,169)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 2,963 577
Amortization of debt discount and issuance costs 11,979
Gain on settlement and extinguishment of accounts payable (196)
Realized gain on sale of gold (2,938)
Non-cash lease income settled in gold (88)
Realized gain on marketable securities (377)
Change in fair value of marketable securities 119
Change in fair value of embedded derivative (497)
Realized loss on extinguishment of convertible debenture 3,057
Realized loss on investment 119
Unrealized loss on investment measured at NAV 172
Allowance for credit losses on accounts receivable 109
Foreign currency transaction gain (165)
Stock-based compensation expense 32,487 14,194
Deferred income taxes (1,070)
Changes in operating assets and liabilities:    
Gold-denominated receivable (54)
Purchases of digital assets - USDC (7,001)
Prepaid expenses and other assets 1,192 (35)
Accounts payable and accrued expenses (572) 6,132
Operating lease right-of-use assets and lease liabilities, net 1 (5)
Net cash used in operating activities (21,918) (2,393)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (23,900)
Purchase of investment measured at NAV
Proceeds from the sale of marketable securities 21,003
Proceeds from the sale of non-marketable equity investments 25
Proceeds from sale of gold 26,410
Purchase of gold held at cost (14,375)
Business acquisition, net of cash acquired 366
Net cash provided by investing activity 9,163 366
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock under at-the-market offerings, net of issuance costs 3,882
Proceeds from sale of common stock and warrants, net of issuance costs 818
Repayment of finance obligation (916)
Net proceeds from issuance of common stock in underwritten public offering 37,184
Proceeds from issuance of equity in subsidiary to noncontrolling interest holders 350
Repayment of convertible debentures (38,500)
Net cash (used in) provided by financing activities (1,882) 4,700
Effect of exchange rate change on cash (74) 5
Net (decrease) increase in cash (14,711) 2,678
Cash, beginning of the period 20,316 142
Cash, end of the period 5,605 2,820
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 403
Cash paid during the period for income taxes
Non-cash investing and financing activities:    
Dividend payable on preferred stock charged to additional paid-in-capital 5 5
USDC digital assets received from transfer of ownership interest in Streamex Ltd. to noncontrolling interest holders 1,000
Conversion of convertible debentures into common stock 15,760
Distributions to noncontrolling interest holders 5
Acquisition of assets and liabilities recorded through operating lease 810
Recognition of derivative liability as part of business combination (non-cash) 105,498
Recognition of assets acquired as part of business combination 105,394
Recognition of liabilities assumed as part of business combination 262
Common stock issued in settlement of accounts payable and accrued expenses $ 498