v3.26.3
Debt - Revolving credit facilities and security facility (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Aug. 10, 2026
USD ($)
MWh
Apr. 21, 2026
Aug. 31, 2026
MWh
Aug. 31, 2024
USD ($)
Jul. 31, 2024
USD ($)
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2026
USD ($)
MWh
Sep. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
item
May 20, 2025
USD ($)
Apr. 22, 2025
USD ($)
Debt                        
Debt, net           $ 656,645   $ 656,645   $ 840,796    
Total outstanding principal           674,512   674,512   853,664    
Amortization of debt issuance costs               $ 2,982 $ 3,243      
Tenant Lease [Member]                        
Debt                        
Critical IT load capacity - initial deployment (MW) | MWh 191   96         191        
Convertible Notes                        
Debt                        
Debt, net           584,500   $ 584,500   582,200    
Total outstanding principal           594,400   594,400   594,400    
Amortization of debt issuance costs           800 $ 800 2,300 2,300      
Unamortized debt Issuance costs           $ 9,900   $ 9,900   12,100    
Interest rate percentage           0.75%   0.75%        
Maximum | Convertible Notes                        
Debt                        
Interest rate percentage           12.00%   12.00%        
Minimum | Convertible Notes                        
Debt                        
Interest rate percentage           10.10%   10.10%        
Revolving credit facility                        
Debt                        
Proceeds from revolving credit facilities                 61,000      
$50 Million Credit Facility                        
Debt                        
Term of debt         1 year              
Total revolving credit facility         $ 50,000 $ 50,000   $ 50,000        
Interest rate of debt during the period         1.25%              
Fee percentage         1.25%              
Percentage of cash collateral pledge         105.00%              
Amount of security in control account         $ 50,000              
Percentage of interest earned from control account               3.60%        
Interest expense, debt           500 600 $ 1,300 1,000      
Total outstanding principal           34,272   34,272   34,272    
$20 Million Credit Facility                        
Debt                        
Term of debt       2 years                
Total revolving credit facility       $ 20,000   20,000   $ 20,000        
Interest rate of debt during the period       1.60%                
Fee percentage       1.50%                
Percentage of cash collateral pledge       105.00%                
Amount of security in control account       $ 20,000                
Percentage of interest earned from control account               3.20%        
Interest expense, debt           300 300 $ 800 600      
Amount of line of credit facility               0        
Total outstanding principal           20,000   20,000   20,000    
$200 Million Credit Facility                        
Debt                        
Term of debt   1 year                    
Total revolving credit facility           200,000   200,000     $ 200,000 $ 100,000
Interest rate of debt during the period   3.25%                    
Interest expense, debt           2,400 $ 5,200 10,500 8,300      
Additional interest rate of debt   4.50%                    
Proceeds from revolving credit facilities               20,848 $ 200,000 $ 200,000    
Number of bitcoins | item                   3,977    
Interest rate                 8.75%      
Total outstanding principal                   $ 200,000    
Interest rate percentage   6.15%                    
$573 Million Credit Facility                        
Debt                        
Total revolving credit facility $ 573,000                      
Interest expense, debt           4,900   $ 4,900        
Interest rate               6.49%        
Percentage of undrawn fee 0.50%                      
Deferred financing costs $ 12,300                      
Debt, net           12,800   $ 12,800        
Total outstanding principal           20,848   20,848        
Unamortized debt Issuance costs           8,000   8,000        
$573 Million Credit Facility | Tenant Lease [Member]                        
Debt                        
Total revolving credit facility           573,000   573,000        
$573 Million Credit Facility | SOFR                        
Debt                        
Debt Instrument, Basis Spread on Variable Rate 2.75%                      
$573 Million Credit Facility | Base rate                        
Debt                        
Debt Instrument, Basis Spread on Variable Rate 1.75%                      
Letter of credit                        
Debt                        
Term of debt       1 year                
Notes Payable                        
Debt                        
Debt, net           5,009   5,009        
Total outstanding principal           5,009   5,009   $ 5,009    
Notes payable fair value           $ 4,900   $ 4,900        
Notes Payable | Block Mining Inc.                        
Debt                        
Interest rate percentage           8.81%   8.81%