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v3.25.3

Digital Assets (Tables) | 9 Months Ended
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Sep. 30, 2025
Digital Assets [Abstract] |
Schedule of Changes in Carrying Amount of Digital Assets | The following table presents the changes in carrying amount of the Company's digital assets as of September 30, 2025 and December 31, 2024:
(in USD thousands) |  | Amount |
Balance as of December 31, 2023 |  | $ | 388,131 |
Revenue recognized from Bitcoin mined |  |  | 30,357 |
Revenue recognized from discontinued operations |  |  | 979 |
Mining revenue earned in prior period received in current period |  |  | 292 |
Carrying value of Bitcoin sold |  |  | (36,109 | )
Change in fair value of Bitcoin |  |  | 274,540 |
Foreign currency translation adjustments |  |  | (9,295 | )
Balance as of March 31, 2024 |  | $ | 648,895 |
Revenue recognized from Bitcoin mined |  |  | 13,914 |
Carrying value of Bitcoin sold |  |  | (15,209 | )
Change in fair value of Bitcoin |  |  | (71,842 | )
Foreign currency translation adjustments |  |  | (6,347 | )
Balance as of June 30, 2024 |  | $ | 569,411 |
Revenue recognized from Bitcoin mined |  |  | 11,610 |
Carrying value of Bitcoin sold |  |  | (12,103 | )
Change in fair value of Bitcoin |  |  | (1,551 | )
Foreign currency translation adjustments |  |  | 7,795 |
Balance as of September 30, 2024 |  | $ | 575,162 |
Number of Bitcoin held as of September 30, 2024 |  |  | 9,106 |
Cost basis of Bitcoin held as of September 30, 2024 |  | $ | 354,128 |
Realized gains on the sale of Bitcoin for the nine months ended September 30, 2024 |  | $ | 9,141 |
Balance as of December 31, 2024 |  | $ | 949,501 |
Revenue recognized from Bitcoin mined |  |  | 12,338 |
Carrying value of Bitcoin sold |  |  | (3,429 | )
Change in fair value of Bitcoin |  |  | (112,394 | )
Adjustments post carevout of mining operations to ABTC |  |  | (847,244 | )
Foreign currency translation adjustments |  |  | 1,228 |
Balance as of March 31, 2025 |  | $ | — |
Revenue recognized from Bitcoin mined |  |  | 30,285 |
Bitcoin contributed |  |  | 10,000 |
Change in fair value of Bitcoin |  |  | 3,037 |
Balance as of June 30, 2025 |  | $ | 43,322 |
Revenue recognized from Bitcoin mined |  |  | 64,220 |
Bitcoin purchased |  |  | 287,779 |
Bitcoin assumed through business combination |  |  | 86 |
Change in fair value of Bitcoin |  |  | (5,475 | )
Balance as of September 30, 2025 |  | $ | 389,932 |
Number of Bitcoin held as of September 30, 2025 |  |  | 3,418 |
Number of Bitcoin pledged as collateral as of September 30, 2025 |  |  | 2,385 |
Cost basis of Bitcoin held as of September 30, 2025 |  | $ | 392,370 |
Realized gains on the sale of Bitcoin for the nine months ended September 30, 2025 |  | $ | 828 |
Schedule of Details of Bitcoin | The details of Bitcoin are as follows:
|  | Amount |  |  | Number of Digital Assets |
(in USD thousands) |  | September 30, 2025 |  |  | December 31, 2024 |  |  | September 30, 2025 |  |  | December 31, 2024 |
Current |  |  |  |  |  |  |  |  |  |  |  |
Bitcoin held in custody |  | $ | — |  |  | $ | — |  |  |  | — |  |  |  | — |
Total current digital assets held in custody |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bitcoin pledged for miner purchase |  |  | — |  |  |  | 92,389 |  |  |  | — |  |  |  | 968 |
Total current digital assets pledged for miner purchase |  |  | — |  |  |  | 92,389 |  |  |  | — |  |  |  | 968 |
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Bitcoin held in custody |  | $ | 117,879 |  |  | $ | 525,236 |  |  |  | 1,033 |  |  |  | 5,648 |
Total non-current digital assets – held in custody |  |  | 117,879 |  |  |  | 525,236 |  |  |  | 1,033 |  |  |  | 5,648 |
Bitcoin pledged for miner purchase |  | $ | 272,053 |  |  | $ | — |  |  |  | 2,385 |  |  |  | — |
Total non-current digital assets pledged for miner purchase |  |  | 272,053 |  |  |  | — |  |  |  | 2,385 |  |  |  | — |
Bitcoin pledged as collateral |  |  | — |  |  |  | 331,876 |  |  |  | — |  |  |  | 3,555 |
Total non-current digital assets – pledged as collateral |  |  | — |  |  |  | 331,876 |  |  |  | — |  |  |  | 3,555 |
Total digital assets |  | $ | 389,932 |  |  | $ | 949,501 |  |  |  | 3,418 |  |  |  | 10,171 |

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- Definition Tabular disclosure of information about crypto asset. Includes, but is not limited to, name, cost basis, fair value, and number of units held. Excludes information about crypto asset held for platform user. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1 + Details
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