Digital Assets |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, Net (Excluding Goodwill) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Digital Assets |
Note 3. Digital Assets
The Company accounts for its digital assets, which are comprised solely of
bitcoin, in accordance with ASC 350, Intangibles - Goodwill and Other. The Company’s digital assets are initially recorded at cost, inclusive of transaction costs and fees. The Company
subsequently remeasures its digital assets to fair value at the end of each reporting period in accordance with ASC 820, Fair Value Measurement, based on quoted (unadjusted) prices on
the Coinbase exchange, resulting in their classification as Level 1 instruments. Any changes in fair value are recognized in net income within net unrealized gain (loss) on digital assets. As of September 30, 2025, there are no contractual
restrictions on the Company’s holdings of digital assets.
The following table provides a summary of the changes in the Company’s
digital assets, at fair value for the period from September 12, 2025 to September 30, 2025 (in thousands):
The Company’s investments in digital assets are summarized below. The
Company did not hold any investments in digital assets prior to September 12, 2025.
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