v3.25.4
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Net Investment Income [Line Items]        
Cash equivalents $ 458,097   $ 276,599  
Bitcoin 1,001,997 [1] $ 1,189,443 $ 929,080 [1] $ 431,661
ILAL derivative asset 0 233    
Amount        
Net Investment Income [Line Items]        
Cash equivalents [2] 27,154 32,992    
Receivable from bitcoin collateral [3] 144,163 294,648    
Bitcoin 1,001,997 1,189,443    
Bitcoin derivative - Bitmain contracts   233    
DAM derivative liabilities 663      
Interest rate swap derivative 86 93    
Warrant liabilities 16 115    
Level 1        
Net Investment Income [Line Items]        
Cash equivalents [2] 27,154 32,992    
Receivable from bitcoin collateral [3] 0 0    
Bitcoin 1,001,997 1,189,443    
Bitcoin derivative - Bitmain contracts   0    
DAM derivative liabilities 0      
Interest rate swap derivative 0 0    
Warrant liabilities 0 0    
Level 2        
Net Investment Income [Line Items]        
Cash equivalents [2] 0 0    
Receivable from bitcoin collateral [3] 144,163 294,648    
Bitcoin 0 0    
Bitcoin derivative - Bitmain contracts   0    
DAM derivative liabilities 0      
Interest rate swap derivative 86 93    
Warrant liabilities 16 115    
Level 3        
Net Investment Income [Line Items]        
Cash equivalents [2] 0 0    
Receivable from bitcoin collateral [3] 0 0    
Bitcoin 0 0    
Bitcoin derivative - Bitmain contracts   233    
DAM derivative liabilities 663      
Interest rate swap derivative 0 0    
Warrant liabilities $ 0 $ 0    
[1] Includes Bitcoin - current of $830,073 and Bitcoin - noncurrent of $171,924 as presented within Condensed Consolidated Balance Sheets as of December 31, 2025.
[2] Represents money market funds.
[3] See Note 4 - Bitcoin for more information.