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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2025

FAIR VALUE MEASUREMENTS

Summary of financial assets and financial liabilities measured and recorded at fair value on recurring basis

​

​	​	​	​	​	​	​	​	​
​	​	As of December 31, 2024
​	​	​	​	Observable	​	Non-observable	​	​
​	​	Active market	​	input	​	input	​	​
​		(Level 1)		(Level 2)		(Level 3)		Total
Asset:	​		​		​		​
Short-term investment		—		40,074,501		—		40,074,501
Receivable for bitcoin collateral	​	—	​	84,838,573	​	—	​	84,838,573

​

​	​	​	​	​	​	​	​	​
​	​	As of June 30, 2025
​	​	​	​	Observable	​	Non-observable	​	​
​	​	Active market	​	input	​	input	​	​
​		(Level 1)		(Level 2)		(Level 3)		Total
Assets:	​		​		​		​
Receivable for bitcoin collateral		—		418,282,382		—		418,282,382

​

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- References

No definition available.

+ Details

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