v3.26.1
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue Recognition [Abstract]  
Schedule of Revenue

Revenue consisted of the following (in thousands):

 

   For the Three Months Ended   For the Six Months Ended 
   June 30,   June 30, 
   2026   2025   2026   2025 
Native staking revenue  $
-
   $
-
   $1,469   $
-
 
Liquid staking revenue1   
-
    
-
    302    
-
 
Aircraft engine rental   1,365    
-
    2,453    
-
 
Total revenue  $1,365   $
-
   $4,224   $
-
 

 

(1) Liquid staking revenue includes $0.3 million of staking rewards earned through participation in liquid staking protocols.
Schedule of Revenue from the Following Major Customers

The Company generated revenue from the following major customers, each of which represented 10% or greater of total revenue. All such revenue was generated within the Company’s single reportable segment (in thousands):

 

   For the Three Months Ended   For the Six Months Ended 
   June 30,   June 30, 
   2026   2025   2026   2025 
Coinbase – staking income  $
-
   $
-
   $1,469   $
-
 
Ether.fi – liquid staking   
-
    
-
    339    
-
 
Puffer – liquid staking   
-
    
-
    (37)   
-
 
Delta Air Lines, Inc.   1,074    
-
    2,162    
-
 
American Airlines, Inc.   291    
-
    291    
-
 
Total revenue  $1,365   $
-
   $4,224   $
-