Reverse Recapitalizations (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2026

Dec. 31, 2025

Reverse Recapitalizations [Line Items]

Schedule of Ordinary Share Capital Issuance

On completion, the Company issued 119,522,880 ordinary shares to existing CSIL shareholders, 6,564,647 ordinary shares to the PIPE investor, including commitment-fee shares, and 1,292,681 ordinary shares to non-redeeming Vine Hill shareholders.

Recipient		Ordinary shares Number
CSIL shareholders (excluding PIPE shares)		119,522,880
PIPE investor		6,564,647
Non-redeeming Vine Hill public shareholders		1,292,681
Shares issued to Vine Hill Capital Sponsor I LLC		4,400,001
Total		131,780,209

Schedule of Ordinary Share Cash Proceeds

Cash proceeds

		$
Gross PIPE cash proceeds		48,980
Less: PIPE placement fee		(2,500	)
Less: transaction costs apportioned to PIPE shares		(20,469	)
Total Net PIPE proceeds		26,011

Gross trust cash attributable to non-redeeming shareholders		13,844
Less: transaction costs apportioned to SPAC shares		(17,750	)
Total Net SPAC shareholder proceeds		(3,906	)
Total		22,105

Coinshares International Limited [Member]

Reverse Recapitalizations [Line Items]

Schedule of Business Combination

The details of the business combination are as follows:

Fair value of consideration transferred
Amount settled in cash		$	1,023
Fair value of other consideration			266
Total consideration transferred		$	1,289

Recognized amounts of identifiable net assets
Cash and cash equivalents		$	27
Trade and other receivables			73
Total current assets			100

Trade and other payables			(481	)
Total current liabilities			(481	)

Identifiable net assets			(381	)

Goodwill on acquisition		$	1,670

Consideration transferred settled in cash		$	1,023
Cash and cash equivalents acquired			(27	)
Net cash outflow on acquisition		$	996