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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Derivative Assets and Liability | The following presents the levels of the fair value hierarchy for the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2025 (in thousands):
| Fair Value Hierarchy
| Level 1 |  | Level 2 |  | Level 3 |  | Fair value
Assets: |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 449,911 |  |  | $ | — |  |  | $ | — |  |  | $ | 449,911 |
Digital assets | 241,355 |  |  | — |  |  | — |  |  | 241,355 |
Total assets measured at fair value on a recurring basis | $ | 691,266 |  |  | $ | — |  |  | $ | — |  |  | $ | 691,266 |
Liabilities: |  |  |  |  |  |  |
Contingent value rights 1 | $ | 2,589 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,589 |
Warrants | 1,330,483 |  |  | — |  |  | — |  |  | 1,330,483 |
Total liabilities measured at fair value on a recurring basis | $ | 1,333,072 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,333,072 |
1 The fair value of contingent value rights is included within other current liabilities and other noncurrent liabilities on the condensed consolidated balance sheets, based on the expected timing of settlement. The following presents the levels of the fair value hierarchy for the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 (in thousands):
| Fair Value Hierarchy
| Level 1 |  | Level 2 |  | Level 3 |  | Fair value
Assets: |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 832,213 |  |  | $ | — |  |  | $ | — |  |  | $ | 832,213 |
Digital assets | 23,893 |  |  | — |  |  | — |  |  | 23,893 |
Total assets measured at fair value on a recurring basis | $ | 856,106 |  |  | $ | — |  |  | $ | — |  |  | $ | 856,106 |
Liabilities: |  |  |  |  |  |  |
Contingent value rights 1 | $ | 4,272 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,272 |
Warrants | 1,097,285 |  |  | — |  |  | — |  |  | 1,097,285 |
Total liabilities measured at fair value on a recurring basis | $ | 1,101,557 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,101,557 |
1 The fair value of contingent value rights is included within other current liabilities and other noncurrent liabilities on the condensed consolidated balance sheets, based on the expected timing of settlement.
Schedule of Carrying Amounts and Estimated Fair Values of the Convertible Notes | The following tables present the carrying amounts and estimated fair values of the Convertible Notes as of September 30, 2025 and December 31, 2024 (in thousands): September 30, 2025
|  | Carrying Amount |  | Fair Value |  | Fair Value Hierarchy
3.00% Convertible Senior Notes due 2029 |  | $ | 460,000 |  |  | $ | 826,582 |  |  | Level 1
0.00% Convertible Senior Notes due 2031 |  | $ | 625,000 |  |  | $ | 701,493 |  |  | Level 1
December 31, 2024
|  | Carrying Amount |  | Fair Value |  | Fair Value Hierarchy
3.00% Convertible Senior Notes due 2029 |  | $ | 460,000 |  |  | $ | 703,100 |  |  | Level 1
0.00% Convertible Senior Notes due 2031 |  | $ | 625,000 |  |  | $ | 615,800 |  |  | Level 1

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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