v3.24.1.u1
OTHER CURRENT AND NON-CURRENT ASSETS
 3 Months Ended
Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER CURRENT AND NON-CURRENT ASSETS OTHER CURRENT AND NON-CURRENT ASSETS
Other current assets and other non-current assets consisted of the following (in thousands):    
March 31,December 31,
20242023
Other current assets
Crypto assets held for operations$150,630 $74,103 
Prepaid expenses98,004 79,552 
Assets pledged as collateral(1)
73,096 53,071 
Income tax receivable39,945 63,726 
Other17,862 16,191 
Total other current assets$379,537 $286,643 
Other non-current assets
Strategic investments
$346,902 $343,045 
Property and equipment, net193,056 192,550 
Intangible assets, net
79,755 86,422 
Lease right of use assets
10,164 12,737 
Deposits and other23,985 19,840 
Total other non-current assets$653,862 $654,594 
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(1) See Note 6. Collateralized Arrangements and Financing for additional details.

Crypto assets held for operations
The following table summarizes the units, cost basis, and fair value of crypto assets held for operations (in thousands, except units):
March 31, 2024December 31, 2023
UnitsCost BasisFair Value
Carrying Value(1)
Bitcoin101 $5,548 $7,174 $7,243 
Ethereum15,006 44,799 54,565 15,775 
Solana144,193 25,967 29,128 10,275 
Other(2)
nm48,077 59,763 40,810 
Total held for operations$124,391 $150,630 $74,103 
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nm - not meaningful
(1)Recorded at impaired cost as of December 31, 2023.
(2)Includes various other crypto assets balances, none of which individually represented more than 5% of total Crypto assets held for operations.
Measurement alternative investments
The changes in the carrying value of strategic investments accounted for under the measurement alternative are presented below (in thousands):
March 31,
December 31,
20242023
Carrying amount, beginning of period$330,346 $315,285 
Net additions(1)
4,527 60,979 
Upward adjustments43 62 
Previously held interest in ORDAM (see Note 4)— (20,000)
Impairments and downward adjustments(937)(25,980)
Carrying amount, end of period$333,979 $330,346 
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(1)Net additions include additions from purchases and reductions due to exits of strategic investments.

Upward adjustments, impairments, and downward adjustments from remeasurement of investments are recorded in Other (income) expense, net in the Condensed Consolidated Statements of Operations. As of March 31, 2024, cumulative upward adjustments for investments held as of that date were $5.0 million and cumulative impairments and downward adjustments were $127.6 million. As of December 31, 2023, cumulative upward adjustments for investments held as of that date were $4.9 million and cumulative impairments and downward adjustments were $127.0 million.