v3.26.3
Income Taxes (Tables) - Coinshares International Limited [Member]
12 Months Ended
Dec. 31, 2025
Income Taxes (Tables) [Line Items]  
Schedule of Components of Income Before Income Taxes

The components of income before income taxes are as follows:

 

For the Years Ended December 31,

   

2025

 

2024

 

2023

Domestic (Jersey)

 

$

114,833

 

 

$

164,266

 

 

$

69,856

Foreign

 

 

(112

)

 

 

(883

)

 

 

6,614

Income before income taxes

 

$

114,721

 

 

$

163,383

 

 

$

76,470

Schedule of Income Tax Expense

The income tax expense is summarized as follows:

 

For the Years Ended December 31,

   

2025

 

2024

 

2023

Current Provision

 

 

   

 

 

 

 

 

 

Domestic

 

$

377

 

$

(6

)

 

$

61

Foreign

 

 

72

 

 

941

 

 

 

654

Total Current Provision

 

 

449

 

 

935

 

 

 

715

   

 

   

 

 

 

 

 

 

Deferred Provision

 

 

   

 

 

 

 

 

 

Domestic

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

Total Deferred Provision

 

 

 

 

 

 

 

   

 

   

 

 

 

 

 

 

Total Provision for Income Taxes

 

$

449

 

$

935

 

 

$

715

Schedule of Statutory Income Actual Tax Expense

A reconciliation of the statutory income tax expense to the Company’s actual tax expense for the years ended December 31, 2025, 2024, and 2023 are as follows:

 

For the Years Ended December 31,

   

2025

 

2024

 

2023

Statutory Income Tax expense

 

$

 

 

$

 

 

$

 

Non-deductible Expenses

 

 

833

 

 

 

85

 

 

 

38

 

Non-taxable Income

 

 

(379

)

 

 

(23

)

 

 

(284

)

Fixed Asset Capital Allowances

 

 

(3

)

 

 

(27

)

 

 

(19

)

Other Differences

 

 

26

 

 

 

(480

)

 

 

192

 

Difference in foreign tax rates

 

 

(291

)

 

 

(48

)

 

 

201

 

Change in Valuation Allowance

 

 

916

 

 

 

1,428

 

 

 

587

 

Tax Credits

 

 

(653

)

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Tax Expense

 

$

449

 

 

$

935

 

 

$

715

 

Schedule of Deferred Income Tax Assets (Liabilities)

The components of the deferred income tax assets (liabilities) are as follows:

 

As of December 31,

   

2025

 

2024

Deferred Tax Assets:

 

 

 

 

 

 

 

 

Unrealized Gains/Losses

 

$

58

 

 

$

298

 

Lease Liability

 

 

499

 

 

 

748

 

Net operating losses

 

 

3,667

 

 

 

2,618

 

   

 

 

 

 

 

 

 

Deferred Tax Assets

 

 

4,224

 

 

 

3,664

 

Less: Valuation allowance

 

 

(3,557

)

 

 

(2,640

)

Total Deferred Tax Assets

 

 

667

 

 

 

1,024

 

   

 

 

 

 

 

 

 

Deferred Tax Liabilities:

 

 

 

 

 

 

 

 

ROU Asset

 

 

(461

)

 

 

(682

)

   

 

 

 

 

 

 

 

Depreciation & Amortization

 

 

(67

)

 

 

(46

)

Unrealized Gains/Losses

 

 

(139

)

 

 

(296

)

   

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

Total Deferred Tax Liabilities

 

 

(667

)

 

 

(1,024

)

   

 

 

 

 

 

 

 

Total Deferred Tax Assets/(Liabilities)

 

$

 

 

$