v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 11,226,000 $ 15,634,000
Accounts receivable, net 19,180,000 32,270,000
Contract assets 41,717,000 14,622,000
Inventory 1,154,000
Digital assets 1,219,000
Restricted digital assets 377,331
Prepaid expenses and other current assets 3,157,000
Total current assets 81,783,000 62,526,000
Non-current assets:    
Property and equipment, net 30,766,000 23,883,000
Investment in affiliate 245,967,000
Operating lease right-of-use assets 1,051,000 1,761,000
Finance lease right-of-use assets 3,889,000 5,873,000
Goodwill 305,206,000
Intangible assets, net 644,229,000
Other non-current assets 656,000 100,000
Total assets 1,313,914,000 94,711,000
Current liabilities:    
Accounts payable 48,920,000 41,379,000
Accrued expenses and other current liabilities 8,420,000 1,058,000
Contingent consideration 20,627,000
Contract liabilities - current 10,877,000 6,366,000
Short-term debt - third parties 3,045,000
Short-term debt - related parties 1,853,000  
Current portion of long-term debt 7,756,000 1,849,000
Operating lease obligation - current maturities 340,000 1,124,000
Finance lease obligation - current maturities 3,761,000 1,878,000
Total current liabilities 108,267,000 53,654,000
Non-current liabilities:    
Long-term debt, net of current portion 18,946,000 22,318,000
Operating lease obligation 735,000 744,000
Finance lease obligation 80,000 3,007,000
Deferred tax liabilities 182,006,000
Contract liabilities - non-current 764,000
Long-term debt - related parties 7,130,000
Total liabilities 317,928,000 79,723,000
Commitments and contingencies (Note 16)
Partners’ capital    
Limited partners 14,468,000
General partner 520,000
Stockholders’ equity:    
Preferred stock, $0.001 par value per share, 25,000,000 shares authorized, zero shares issued and outstanding as of June 30, 2026 and zero shares authorized, issued and outstanding as of December 31, 2025
Additional paid in capital 1,042,601,000
Accumulated other comprehensive loss (23,000)
Accumulated deficit (46,670,000)
Total stockholders’ equity 995,986,000 14,988,000
Total liabilities and stockholders’ equity 1,313,914,000 94,711,000
Common Class A [Member]    
Stockholders’ equity:    
Common stock, value 70,000
Common Class B [Member]    
Stockholders’ equity:    
Common stock, value 8,000
Related Party [Member]    
Current assets:    
Due from related parties - current 3,753,000
Non-current assets:    
Due from related parties - non-current 367,000 568,000
Current liabilities:    
Accounts payable 0 100,000
Due to related parties - current $ 2,668,000