v3.25.3
Condensed Consolidated Statement of Cash Flows (Unaudited)
$ in Thousands, $ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Cash flows from operating activities:    
Net loss from continuing operations $ (7,384) $ (18,133)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net unrealized holding loss on equity holdings 2,537 2,267
Loss from equity method holdings 6,903 8,896
Loss on disposal of fixed assets 5
Net realized gain on sale of equity holdings (1,056) (550)
Realized loss on cryptocurrency assets 21
Unrealized gain on ETH digital assets (14,078)
ETH rewards for staking (669)
Depreciation and amortization 231 327
Amortization and accretion of operating leases 75
Impairment of property and equipment 1,422
Gain on merger of FGF and FGH (Note 4) (1,831)
Deferred income taxes (717) (462)
Stock compensation expense 7,775 1,165
Changes in operating assets and liabilities:    
Other assets (724) 973
Current income taxes (74) 8
Accounts payable and accrued expenses 3,103 665
Operating lease obligations (23)
Net cash used in operating activities from continuing operations (4,127) (5,201)
Net cash (used in) provided by operating activities from discontinued operations (624) 1,453
Net cash used in operating activities (4,751) (3,748)
Cash flows from investing activities:    
Proceeds from sales of equity securities 3,214 2,331
Proceeds from redemption of Saltire preferred shares 7,500
Purchases of ETH (171,720)
Purchases of equity securities (887)
Proceeds from sales of property and equipment 6,161
Collection of note receivable, net 3 50
Cash acquired in Merger of FGF and FGH 1,903
Net cash (used in) provided by investing activities from continuing operations (161,890) 10,445
Net cash provided by (used in) investing activities from discontinued operations 5,592 (146)
Net cash (used in) provided by investing activities (156,298) 10,299
Cash flows from financing activities:    
Payment of withholding taxes in connection with vesting of RSUs (315) (20)
Proceeds from Private Placement Offering, net of costs 168,085
Proceeds from sales under ATM Offering, net of costs 14,115
Payment of dividends on preferred shares (1,341) (1,341)
Distribution of cash to CVR Trust (17,957)
Net payments on credit facility (48)
Principal payments on long-term debt (4,918)
Principal payments on short-term debt (219) (140)
Net cash provided by (used in) financing activities from continuing operations 162,368 (6,467)
Net cash (used in) provided by financing activities from discontinued operations (408) 135
Net cash provided by (used in) financing activities 161,960 (6,332)
Effect of exchange rate changes on cash and cash equivalents from continuing operations 22 13
Effect of exchange rate changes on cash and cash equivalents from discontinued operations (36)
Net decrease in cash and cash equivalents from continuing operations (3,627) (1,210)
Net increase in cash and cash equivalents from discontinued operations 4,560 1,406
Net increase in cash and cash equivalents 933 196
Cash and cash equivalents at beginning of period 6,562 2,978
Cash and cash equivalents at end of period 7,495 3,174
Supplemental disclosure of non-cash financing activities:    
ETH received as part of Private Placement Offering (Note 1) $ 23,989