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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2025
Accounting Policies [Abstract] |
Schedule of Digital Currency Assets | The following table presents a roll-forward of total digital assets for the nine months ended September 30, 2025 and 2024 (in thousands):
| September 30, 2025 |  | September 30, 2024
Digital assets, beginning of period | $ | 23,893 |  |  | $ | 2,284 |
Cumulative effect of ASU 2023-08, adopted January 1, 2024 1 | — |  |  | 24 |
Digital assets, beginning of period, as adjusted | 23,893 |  |  | 2,308 |
Digital asset self-mining revenue, net of receivables 2 | 187,396 |  |  | 329,799 |
Mining revenue from shared hosting | — |  |  | 15,693 |
Proceeds from sales of digital assets and shared hosting | — |  |  | (347,397) |
Increase (decrease) in fair value of digital assets | 30,066 |  |  | (247) |
Payment of board fee | — |  |  | (89) |
Other | — |  |  | (67) |
Digital assets, end of period | $ | 241,355 |  |  | $ | — |
1 Reflects the impact of the Company’s adoption of Accounting Standards Update (“ASU”) 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”) effective January 1, 2024. 2 As of September 30, 2025 and December 31, 2024, there was $0.5 million and $0.9 million, respectively, of digital asset receivable included in prepaid expenses and other current assets on the condensed consolidated balance sheets. As of September 30, 2024 and December 31, 2023, there was $0.7 million and $1.7 million, respectively, of digital asset receivable included in prepaid expenses and other current assets on the condensed consolidated balance sheets.
Schedule of Bitcoin Holdings | The following table presents the Company’s bitcoin holdings (in thousands, except for quantity):
| Quantity |  | Cost Basis |  | Fair Value
September 30, 2025 | 2,116 |  |  | $ | 212,384 |  |  | $ | 241,355 |
December 31, 2024 | 256 |  |  | $ | 24,991 |  |  | $ | 23,893 |
Schedule of Deferred Revenue | The following table presents a roll-forward of deferred revenue for the nine months ended September 30, 2025 (in thousands):
|  | Deferred Revenue From Colocation Services |  | Deferred Revenue From Hosted Mining Services |  | Total Deferred Revenue
Balance at December 31, 2024 |  | $ | 17,785 |  |  | $ | 349 |  |  | $ | 18,134 |
Revenue recognized that was included in the deferred revenue balance as of the beginning of the year |  | (4,867) |  |  | (330) |  |  | (5,197) |
Additional customer funding received |  | 328,663 |  |  | 2,487 |  |  | 331,150 |
Balance at September 30, 2025 |  | $ | 341,581 |  |  | $ | 2,506 |  |  | $ | 344,087 |
Current portion at September 30, 2025 |  |  |  |  |  | $ | 83,739 |
Non-current portion at September 30, 2025 1 |  |  |  |  |  | $ | 260,348 |
1 Noncurrent deferred revenue is included in other noncurrent liabilities on the condensed consolidated balance sheets.

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