v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash   $ 19,973,574
Cash equivalents $ 15,300,000 25,002,553
Cash and cash equivalents 15,338,000 44,976,000
Restricted cash 149,885,332
Accounts receivable   45,000
Prepaid expenses, current   1,863,216
Prepaid expenses and other current assets 1,698,000 2,166,000
Other current assets   257,389
Total current assets 17,036,000 197,027,064
Digital assets 313,378,000 441,791,316
Right-of-use asset 961,000
Fixed assets, net 304,000 52,113
Intangible assets, net 14,095,000
Goodwill 12,671,000
Other non-current assets 7,000 16,000
Prepaid expenses, non-current   16,250
Total Assets 358,452,000 638,886,000
Current Liabilities    
Accounts payable and accrued expenses 1,655,000 1,831,000
Conversion feature liability - convertible notes 23,000
Convertible notes, net 92,256,000
Lease liability, current 298,000
Other current liabilities 112,000 1,000
Derivative securities liabilities 428,236
Deferred revenue   1,000
Total current liabilities 94,344,000 2,260,000
Long-term liabilities    
Conversion feature liability - convertible notes 2,278,000
Deferred tax liabilities 578,000
Lease liability, non-current 736,000
Convertible notes, net 214,171,908
Total long term liabilities 1,314,000 216,450,000
Total liabilities 95,658,000 218,710,068
STOCKHOLDERS’ EQUITY    
Preferred stock; 50,000,000 authorized shares; no shares issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock; $0.001 par value; 550,000,000 authorized shares; 94,651,912 shares issued and 88,574,486 shares outstanding as of June 30, 2026, 85,166,604 shares issued and 84,327,208 shares outstanding as of December 31, 2025 94,000 85,167
Additional paid-in capital 480,082,000 451,913,639
Treasury stock, at cost; 6,077,426 shares and 839,396 shares as of June 30, 2026 and December 31, 2025, respectively (15,600,000) (2,846,627)
Accumulated deficit (201,782,000) (28,975,504)
Total stockholders’ equity 262,794,000 420,176,000
Total liabilities and stockholders’ equity 358,452,000 638,886,000
Total long term liabilities $ 1,314,000 216,450,000
Previously Reported [Member]    
Current Assets:    
Total Assets   638,886,743
Current Liabilities    
Accounts payable and accrued expenses   1,829,984
Total current liabilities   2,259,220
Long-term liabilities    
Conversion feature liability - convertible notes   2,278,940
STOCKHOLDERS’ EQUITY    
Total stockholders’ equity   420,176,675
Total liabilities and stockholders’ equity   $ 638,886,743