v3.26.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 223,143,551 $ 63,101,704
Accounts receivable, net 10,606,999 2,090,087
Contract assets 1,354,092 201,582
Prepaid and other current assets 2,774,217 0
Total current assets 237,878,859 65,393,373
Property and equipment, net 46,798,813 12,627,624
Investment in Joint Venture 2,548,496 1,130,170
TOTAL ASSETS 287,226,168 79,151,167
CURRENT LIABILITIES:    
Accounts payable 2,645,353 2,082,547
Accrued and other liabilities 2,084,094 354,601
Early exercise liability, current 831,340 0
Deferred revenue, current 2,224,325 1,076,531
Total current liabilities 7,785,112 3,513,679
Asset retirement obligations 817,460 753,223
Deferred revenue, non-current 4,442,000 0
Early exercise liability, non-current 1,170,548 0
TOTAL LIABILITIES 14,215,120 4,266,902
Commitments and contingencies
MEZZANINE EQUITY:    
Redeemable preferred stock [1] 0 144,999,977
STOCKHOLDERS EQUITY (DEFICIT):    
Additional paid-in capital 369,343,040 2,021,359
Accumulated deficit (96,333,565) (72,137,351)
Total Stockholders’ Equity (Deficit) 273,011,048 (70,115,712)
Total Liabilities, Mezzanine Equity, and Stockholders’ Equity (Deficit) 287,226,168 79,151,167
Common Stock    
STOCKHOLDERS EQUITY (DEFICIT):    
Common stock, value, issued 0 0
Common Class A    
STOCKHOLDERS EQUITY (DEFICIT):    
Common stock, value, issued [1] 1,457 145
Common Class B    
STOCKHOLDERS EQUITY (DEFICIT):    
Common stock, value, issued [1] $ 116 $ 135
[1] (1) All share amounts above have been retrospectively adjusted to reflect the 2-for-1 stock split effected July 6, 2026. See Note 1.