TRANSACTION EXPENSES

3 Months Ended

Mar. 31, 2025

Restructuring Cost and Reserve [Line Items]

The Company incurred the following Transaction expenses for the three months ended March 31, 2025 and 2024.


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		March 31, 2025
Digital assets sales costs	$	12,839,085	$	—	$	—	$	12,839,085
Impairment of digital assets	78,308		—		34,121		112,429
Blockchain reward distributions	67,766		—		(11,320)		56,446
Borrowing costs	5,789		—		28,049		33,838
Mining and hosting costs	—		—		5,534		5,534
Other transaction expenses (1)	8,220		—		3,887		12,107
Transaction expenses	$	12,999,168	$	—	$	60,271	$	13,059,439


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		March 31, 2024
Digital assets sales costs	$	9,247,968	$	—	$	—	$	9,247,968
Impairment of digital assets	8,934		—		16,591		25,525
Blockchain reward distributions	5,594		—		(5,215)		379
Borrowing costs	4,009		—		13,874		17,883
Mining and hosting costs	—		—		15,255		15,255
Other transaction expenses (1)	5,620		—		986		6,606
Transaction expenses	$	9,272,125	$	—	$	41,491	$	9,313,616

_______________

(1)Other transaction expenses include trading commissions, custody, and exchange fees.

TRANSACTION EXPENSES

The Company incurred the following Transaction expenses for the years ended December 31, 2024, 2023, and 2022:


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		December 31, 2024
Digital assets sales costs	$	42,102,443	$	—	$	—	$	42,102,443
Impairment of digital assets	139,246		—		192,674		331,920
Blockchain reward distributions	146,731		—		(16,433)		130,298
Borrowing costs	25,652		—		75,108		100,760
Mining and hosting costs	—		—		47,643		47,643
Other transaction expenses (1)	23,226		—		5,486		28,712
Transaction expenses	$	42,437,298	$	—	$	304,478	$	42,741,776


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		December 31, 2023
Digital assets sales costs	$	51,441,223	$	—	$	—	$	51,441,223
Impairment of digital assets	47,791		—		50,549		98,340
Blockchain reward distributions	3,069		—		(504)		2,565
Borrowing costs	8,825		—		9,346		18,171
Mining and hosting costs	—		—		20,772		20,772
Other transaction expenses (1)	8,473		—		2,879		11,352
Transaction expenses	$	51,509,381	$	—	$	83,042	$	51,592,423


(in thousands)	Digital Assets		Data Centers		Treasury and Corporate		December 31, 2022
Digital assets sales costs	$	114,812,910	$	—	$	—	$	114,812,910
Impairment of digital assets	4,588,978		—		1,535,870		6,124,848
Blockchain reward distributions	—		—		—		—
Borrowing costs	29,027		—		6,430		35,457
Mining and hosting costs	—		—		15,372		15,372
Other transaction expenses (1)	6,583		—		761		7,344
Transaction expenses	$	119,437,498	$	—	$	1,558,433	$	120,995,931

_______________

(1)Other transaction expenses include trading commissions, custody, and exchange fees.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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