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Digital Assets (Tables) | 9 Months Ended
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Sep. 30, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Summary of Digital Asset Holdings, Digital Asset Purchases and Digital Asset Impairment Losses | The following table summarizes the Company’s digital asset holdings (in thousands, except number of bitcoins), as of:
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Approximate number of bitcoins held |  |  | 640,031 |  |  |  | 447,470 |
Digital asset carrying value |  | $ | 73,205,725 |  |  | $ | 23,909,373 |
Cumulative digital asset impairment losses |  | n/a |  |  | $ | 4,058,875 |
The carrying value on the Company’s Consolidated Balance Sheet at each period-end prior to the adoption of ASC 2023-08 represented the lowest fair value (based on Level 1 inputs in the fair value hierarchy) of the bitcoin at any time since their acquisition. Therefore, these fair value measurements were made during the period from their acquisition through December 31, 2024. The following table summarizes the Company’s digital asset purchases, unrealized losses (gains) on digital assets as calculated after the adoption of ASU 2023-08 on January 1, 2025, and digital asset impairment losses as calculated prior to the adoption of ASU 2023-08 (in thousands, except number of bitcoins) for the periods indicated. The Company did no t sell any of its bitcoins during the three or nine months ended September 30, 2025 or 2024, respectively.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Approximate number of bitcoins purchased |  |  | 42,706 |  |  |  | 25,889 |  |  |  | 192,561 |  |  |  | 63,070 |
Digital asset purchases |  | $ | 4,952,080 |  |  | $ | 1,575,073 |  |  | $ | 19,382,948 |  |  | $ | 4,008,210 |
Unrealized gain on digital assets |  | $ | (3,890,847 | ) |  | n/a |  |  | $ | (12,032,356 | ) |  | n/a |
Digital asset impairment losses |  | n/a |  |  | $ | 412,084 |  |  | n/a |  |  | $ | 783,807 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 40 -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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