v3.26.3
FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Assets:    
Digital assets, at fair value $ 117,727 $ 136,000
Carrying Value    
Assets:    
Digital assets, at fair value 117,727 136,000
Digital assets pledged as collateral 225,933 103,943
Stablecoins 9,597 522
Debt securities   841
Marketable securities 631 698
Total assets 353,888 242,004
Liabilities:    
Digital asset financing arrangements 225,933 67,521
Accrued crypto loan borrowing fees   256
Total liabilities 225,933 67,777
Fair Value    
Assets:    
Digital assets, at fair value 117,727 136,000
Digital assets pledged as collateral 225,933 103,943
Stablecoins 9,597 522
Debt securities   841
Marketable securities 631 698
Total assets 353,888 242,004
Liabilities:    
Digital asset financing arrangements 225,933 67,521
Accrued crypto loan borrowing fees   256
Total liabilities 225,933 67,777
Fair Value | Level 1    
Assets:    
Digital assets, at fair value 23,129 30,156
Digital assets pledged as collateral 45,446 56,968
Stablecoins 9,597 522
Debt securities   841
Marketable securities 631 698
Total assets 78,803 89,185
Liabilities:    
Digital asset financing arrangements 225,933 67,521
Accrued crypto loan borrowing fees   256
Total liabilities 225,933 67,777
Fair Value | Level 2    
Assets:    
Digital assets, at fair value 94,598 105,844
Digital assets pledged as collateral 180,487 46,975
Stablecoins 0 0
Debt securities   0
Marketable securities 0 0
Total assets 275,085 152,819
Liabilities:    
Digital asset financing arrangements 0 0
Accrued crypto loan borrowing fees   0
Total liabilities 0 0
Fair Value | Level 3    
Assets:    
Digital assets, at fair value 0 0
Digital assets pledged as collateral 0 0
Stablecoins 0 0
Debt securities   0
Marketable securities 0 0
Total assets 0 0
Liabilities:    
Digital asset financing arrangements 0 0
Accrued crypto loan borrowing fees   0
Total liabilities $ 0 $ 0