v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net loss from continuing operations $ (89,955) $ (3,307)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 3,917 681
Depreciation and amortization 1,409
Amortization of loan premiums 9
Change in fair value of long term receivable derivative 48,637
Digital asset gains and losses 12,779
Change in fair value of available for sale securities (126)
Change in fair value of derivative instruments 10,374
Non-cash staking and incentive revenue 460
Loss on make whole provision 1,200
Changes in operating assets and liabilities:    
Accounts receivable (1,024)
Prepaid expenses and other current assets (13,997) 374
Right of use asset – operating lease 169
Accounts payable (1,873) (93)
Accounts payable - related parties (17) 2
Accrued expenses (3,442) 462
Right of use lease liabilities (903)  
Total adjustments 57,572 1,426
Net cash used in operating activities from continuing operations (32,383) (1,881)
Net cash used in operating activities from discontinued operations (509) (502)
Net cash used in operating activities (32,892) (2,383)
Cash Flows from Investing Activities    
Purchases of marketable securities (39,428)
Purchases of digital assets (757)
Sale of cryptocurrency 128,096
Purchase of loans receivable (17,474)
Repayment of loans receivable 406
Purchase of property and equipment (16,813)
Net cash provided by investing activities from continuing operations 54,030
Net cash provided by investing activities from discontinued operations
Net cash provided by investing activities 54,030
Cash Flows from Financing Activities    
Repurchases of common stock (31,322)  
Repayment of loans payable (251)  
Proceeds from shares issued for cash, net 5,503
Net cash used in financing activities from continuing operations (26,070)
Net cash used in financing activities from discontinued operations (8)
Net cash used in financing activities (26,070) (8)
Net Change In Cash, cash equivalents and restricted cash equivalents (4,932) (2,391)
Cash, cash equivalents and restricted cash equivalents - Beginning of Period 9,034 4,567
Cash, cash equivalents and restricted cash equivalents - End of Period 4,102 2,176
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for income taxes
Cash paid during the period for interest expense 2 12
Non cash investing and financing activities    
Shares issued for settlement of liabilities 751
Prepaid expense financed with notes payable   722
Commitment to repurchase common stock   1,000
Reclassification of deposits for fixed assets 1,216
Loan proceeds received in cryptocurrency 67,039
Loan repayments denominated in cryptocurrency 98,552
Capitalization of ROU assets and liabilities - operating 1,806
Common stock cancelled for withholding taxes $ 445