Subsequent Events |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Digital asset, STRC Stock, and cash and cash equivalents update During the period from October 1, 2026 to October 30, 2026, the Company purchased 15,124 bitcoin at an average price of approximately $83,310 per bitcoin, inclusive of fees and expenses. As of October 30, 2026, the Company held $490.4 million of cash and cash equivalents and held STRC Stock with a fair value of $50.1 million. The Company's bitcoin treasury totaled 43,124 bitcoin as of October 30, 2026. Capital stock update As of October 30, 2026, the Company had 118,117,620 and 9,213,489 shares of Class A common stock and Class B common stock outstanding, respectively. As of October 30, 2026, the Company had 14,030,176 shares of SATA Stock, which currently pays a monthly regular dividend rate per annum of 13.00%, and 7,003,418 shares of SATS Stock outstanding. At-the-market offerings During the period from October 1, 2026 to October 30, 2026, the Company issued an aggregate of 5,330,150 shares of its Class A common stock under the A&R ASST Sales Agreement for aggregate gross proceeds of $157.5 million. As of October 30, 2026, the Company has the availability to raise approximately $1.74 billion through the issuance and sale of its Class A common stock pursuant to the A&R ASST Sales Agreement. During the period from October 1, 2026 to October 30, 2026, the Company issued 1,089,555 shares of its SATA Stock under the A&R SATA Sales Agreement for aggregate gross proceeds of $109.0 million. As of October 30, 2026, the Company has the availability to raise approximately $1.62 billion through the issuance and sale of its SATA Stock pursuant to the A&R SATA Sales Agreement. During the period from October 1, 2026 to October 30, 2026, the Company issued 3,418 shares of its SATS Stock under the SATS Sales Agreement for aggregate gross proceeds of $0.3 million. As of October 30, 2026, the Company has the availability to raise approximately $999.7 million through the issuance and sale of its SATS Stock pursuant to the SATS Sales Agreement. The Company has evaluated subsequent events through the date of the issuance of this Quarterly Report and determined that, except as disclosed within these consolidated financial statements, there have been no other events that have occurred that would require accrual or additional disclosure.
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