v3.26.1
Digital Assets and Fair Value Disclosures (Tables)
3 Months Ended
Mar. 31, 2026
Digital Assets And Fair Value Disclosures  
Schedule of ETH Digital Assets

The following table sets forth the units held, cost basis, and fair value of ETH digital assets held, as shown on the condensed consolidated balance sheet as of March 31, 2026 ($ in thousands):

 

   Units   Cost Basis   Fair Value 
ETH   20,637   $85,994   $43,455 
Total   20,637   $85,994   $43,455 
Schedule of Reconciliation of ETH Digital Assets

The following table represents a reconciliation of ETH digital assets held (in thousands):

 

     
Fair value, December 31, 2025  $119,384 
Sales   (22,010)
Deposits of ETH into liquid staking activities   (17,436)
Realized loss   (18,488)
Unrealized loss on measurement of fair value   (17,995)
Fair value, March 31, 2026  $43,455 
Schedule of WSETH Digital Assets

The following table sets forth the tokens, cost basis, and carrying amount of digital assets held at cost, for wstETH specific activity, as shown on the condensed consolidated balance sheet as of March 31, 2026 ($ in thousands):

 

             
   Tokens   Cost Basis   Carrying Value 
wstETH   7,659   $17,233   $17,233 
Total   7,659   $17,233   $17,233 
Schedule of Reconciliation of ETH Digital Assets At Cost

The following table represents a reconciliation of digital assets held at cost, for wstETH specific activity (in thousands):

 

     
Carrying value, December 31, 2025  $- 
Receipt of wstETH upon conversion of stETH   17,233 
Carrying value, March 31, 2026  $17,233 
Schedule of Financial Instruments Measured on Recurring Basis at Fair Value

Financial instruments measured, on a recurring basis, at fair value in accordance with the guidance promulgated by the FASB as of March 31, 2026 and December 31, 2025 are as follows (in thousands): 

 

As of March 31, 2026  Level 1   Level 2   Level 3   Total 
ETH digital assets  $43,455   $–   $–   $43,455 
Financial instrument fair value  $43,455   $–   $–   $43,455 

  

As of December 31, 2025  Level 1   Level 2   Level 3   Total 
ETH digital assets  $119,384   $–   $–   $119,384 
Financial instrument fair value  $119,384   $–   $–   $119,384