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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Current assets:    
Cash and cash equivalents $ 887,678 $ 511,999
Prepaid expenses 1,119 498
Other receivables 231 510
Total current assets 889,028 513,007
Digital assets 10,561,789 8,281,530
Investment in equity securities 35,890
Property and equipment, net 568 516
Total assets 11,487,275 8,795,053
Current liabilities:    
Accrued liabilities and payables 11,338 8,894
Unsettled digital asset trades 125,000
Contract liabilities 790 1,067
Total current liabilities 137,128 9,961
Deferred tax liability 92,295
Warrant liability 98,615
Total liabilities 235,743 102,256
Commitments and contingencies
Stockholders’ Equity:    
Common stock, $0.0001 par value, 500,000,000 shares authorized; 408,578,823 and 234,712,324 shares issued and outstanding as of November 30, 2025 and August 31, 2025 respectively 41 23
Additional paid-in capital 16,118,194 8,355,382
Accumulated deficit (4,866,703) 337,392
Total stockholders’ equity 11,251,532 8,692,797
Total liabilities and equity $ 11,487,275 $ 8,795,053