v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of company's financial assets and liabilities that are measured at fair value on a recurring basis
The Company’s financial assets and liabilities that are measured at fair value on a nonrecurring and recurring basis as of June 30, 2026 and December 31, 2025 by level within the fair value hierarchy, are as follows:
June 30, 2026
Quoted prices in active marketsSignificant other observable inputsSignificant unobservable inputs
(in thousands)(Level 1)(Level 2)(Level 3)
Nonrecurring fair value measurements:
Assets:
NYIAX
$— $— $792 
Vivasor, Inc.
$— $— $800 
Total non recurring fair value measurements
$— $— $1,592 
Recurring fair value measurements:
Assets:
Bitcoin$49,016 $— $— 
Liabilities:
Warrant liabilities$— $115 $— 
December 31, 2025
Quoted prices in active marketsSignificant other observable inputsSignificant unobservable inputs
(in thousands)(Level 1)(Level 2)(Level 3)
Assets:
Equity investment - NYIAX$— $— $4,300 
Bitcoin$92,222 $— $— 
Liabilities:
Convertible note payable$— $— $3,936 
Warrant liabilities$— $— $
Schedule of changes in fair value of the Company's convertible notes
The following table includes a summary of changes in fair value of the EOS Convertible Notes.
For the six months ended June 30,
(in thousands)20262025
Beginning balance$3,936 $10,000 
Additions
— 13,942 
Change in fair value recorded in interest expense7,456 
Amounts settled on DV note
— (1,524)
Conversion of 10% notes
— (1,545)
Payoff on DV note(3,939)— 
Ending balance$— $28,329 
Schedule of crypto assets held for operations
The following table summarizes Crypto assets held for operations (in thousands, except units):
June 30, 2026
BTCCost BasisFair Value
Bitcoin837 $73,108 $49,016 
December 31, 2025
BTCCost BasisFair Value
Bitcoin1,054 $92,051 $92,222 
Schedule of crypto assets
For the six months ended June 30, 2026
BTC
Cost BasisFair Value
Beginning balance1,054 $92,051 $92,222 
Additions— — — 
Disposals(217)(18,943)(18,978)
Fair value remeasurement— — (24,228)
Ending balance 837 $73,108 $49,016