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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Measurements |
Schedule of assets and liabilities measured at fair value on recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair value measured as of June 30, 2025
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Significant
​ | ​ | ​ | ​ | ​ | Quoted prices in | ​ | Significant other | ​ | unobservable
​ | ​ | Total carrying | ​ | active markets | ​ | observable inputs | ​ | inputs
​ |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Bitcoin(a) | ​ | $ | 1,711,908 | ​ | $ | 1,711,908 | ​ | $ | — | ​ | $ | —
Restricted bitcoin(a) | ​ | $ | 353,672 | ​ | $ | 353,672 | ​ | $ | — | ​ | $ | —
Equity method investment - marketable securities(b) | ​ | $ | 62,508 | ​ | $ | 62,508 | ​ | $ | — | ​ | $ | —
Convertible note(b) | ​ | $ | 5,623 | ​ | $ | — | ​ | $ | — | ​ | $ | 5,623
Derivative asset(c) | ​ | $ | 148,642 | ​ | $ | — | ​ | $ | — | ​ | $ | 148,642
Contingent consideration liabilities(d) | ​ | $ | 9,213 | ​ | $ | — | ​ | $ | — | ​ | $ | 9,213
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair value measured as of December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Significant
​ | ​ | ​ | ​ | ​ | Quoted prices in | ​ | Significant other | ​ | unobservable
​ | ​ | Total carrying | ​ | active markets | ​ | observable inputs | ​ | inputs
​ |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Bitcoin(a) | ​ | $ | 1,654,468 | ​ | $ | 1,654,468 | ​ | $ | — | ​ | $ | —
Equity method investment - marketable securities(b) | ​ | $ | 134,265 | ​ | $ | 134,265 | ​ | $ | — | ​ | $ | —
Convertible note(b) | ​ | $ | 5,345 | ​ | $ | — | ​ | $ | — | ​ | $ | 5,345
Derivative asset(c) | ​ | $ | 149,495 | ​ | $ | — | ​ | $ | — | ​ | $ | 149,495
Contingent consideration liabilities(d) | ​ | $ | 26,855 | ​ | $ | — | ​ | $ | — | ​ | $ | 26,855
​
| (a) | See Note 5. Bitcoin.
| (b) | See Note 6. Investments.
| (c) | See Note 9. Power Supply Agreements.
| (d) | See Note 17. Commitments and Contingencies.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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 + Details
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