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Related Party Loans and Convertible Notes - Schedule of Term Loans (Details) $ in Thousands |  | 3 Months Ended | 9 Months Ended | 12 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Sep. 11, 2025 USD ($) | Sep. 30, 2025 USD ($) crypto_unit | Sep. 30, 2024 USD ($) | Sep. 30, 2025 USD ($) crypto_unit | Sep. 30, 2024 USD ($) | Dec. 31, 2024 USD ($) crypto_unit | May 16, 2025 | Jan. 23, 2025 USD ($) | May 16, 2024 USD ($)
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Unrealized loss |  | $ 24,989 | $ 0 | $ 119,309 | $ 0 |  |  |  |
Conversion of convertible notes to common stock in connection with IPO |  |  |  | (804,297) | $ 0 |  |  |  |
Crypto assets held |  | $ 674,963 |  | $ 674,963 |  | $ 470,101 |  |  |
Bitcoin |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Number of crypto assets held (in units) | crypto_unit |  | 5,302 |  | 5,302 |  | 4,414 |  |  |
Ether |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Number of crypto assets held (in units) | crypto_unit |  | 11,134 |  | 11,134 |  | 5,301 |  |  |
Secured Debt |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Aggregate Principal Amount |  | $ 475,000 |  | $ 475,000 |  |  |  |  |
Fair value of Principal Outstanding |  |  |  |  |  | $ 230,704 |  |  |
Amounts Drawn/Borrowed |  |  |  | 212,758 |  |  |  |  |
Principal outstanding |  | 443,500 |  | 443,500 |  |  |  |  |
Unrealized loss |  |  |  | 119,309 |  |  |  |  |
Change in fair value attributable to instrument-specific credit risk |  |  |  | (2,396) |  |  |  |  |
Conversion of convertible notes to common stock in connection with IPO | $ (585,000) |  |  | (584,560) |  |  |  |  |
Interest Expense |  |  |  | 17,680 |  |  |  |  |
Interest Payable |  | 0 |  | 0 |  |  |  |  |
Cash received for issuance of long term debt |  |  |  | 26,900 |  |  |  |  |
Cash received for issuance of long term debt, utilized during the period |  |  |  | 26,900 |  |  |  |  |
Crypto assets held |  | $ 182,500 |  | $ 182,500 |  |  |  |  |
Secured Debt | Bitcoin |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Crypto assets received in issuance of long-term debt (in units) | crypto_unit |  |  |  | 4,841 |  |  |  |  |
Crypto assets received for issuance of long term debt, utilized during the period (in units) | crypto_unit |  |  |  | 3,241 |  |  |  |  |
Number of crypto assets held (in units) | crypto_unit |  | 1,600 |  | 1,600 |  |  |  |  |
Secured Debt | Ether |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Crypto assets received in issuance of long-term debt (in units) | crypto_unit |  |  |  | 9,000 |  |  |  |  |
Crypto assets received for issuance of long term debt, utilized during the period (in units) | crypto_unit |  |  |  | 9,000 |  |  |  |  |
Secured Debt | Minimum |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Stated interest rate |  | 4.00% |  | 4.00% |  |  |  |  |
Secured Debt | Maximum |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Stated interest rate |  | 16.00% |  | 16.00% |  |  |  |  |
Secured Debt | Term Loan 2024 |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Aggregate Principal Amount |  |  |  |  |  |  |  |  | $ 275,000
Fair value of Principal Outstanding |  |  |  |  |  | 230,704 |  |  |
Amounts Drawn/Borrowed |  |  |  | $ 44,296 |  | 230,704 |  |  |
Amount Repaid |  |  |  |  |  | 0 |  |  |
Principal outstanding |  |  |  |  |  | 230,704 |  |  |
Unrealized loss |  |  |  | 76,424 |  |  |  |  |
Change in fair value attributable to instrument-specific credit risk |  |  |  | (2,594) |  |  |  |  |
Conversion of convertible notes to common stock in connection with IPO |  |  |  | (369,146) |  |  |  |  |
Interest Expense |  |  |  | 13,811 |  | 6,505 |  |  |
Interest Payable |  | $ 0 |  | $ 0 |  | $ 6,505 |  |  |
Blended interest rate |  | 6.90% |  | 6.90% |  | 6.80% |  |  |
Cash received for issuance of long term debt |  |  |  |  |  | $ 11,800 |  |  |
Cash received for issuance of long term debt, utilized during the period |  |  |  |  |  | 11,800 |  |  |
Crypto assets held |  |  |  |  |  | $ 149,400 |  |  |
Secured Debt | Term Loan 2024 | Bitcoin |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Crypto assets received in issuance of long-term debt (in units) | crypto_unit |  |  |  |  |  | 2,834 |  |  |
Crypto assets received for issuance of long term debt, utilized during the period (in units) | crypto_unit |  |  |  |  |  | 1,234 |  |  |
Number of crypto assets held (in units) | crypto_unit |  |  |  |  |  | 1,600 |  |  |
Secured Debt | Term Loan 2024 | Ether |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Crypto assets received in issuance of long-term debt (in units) | crypto_unit |  |  |  |  |  | 9,000 |  |  |
Crypto assets received for issuance of long term debt, utilized during the period (in units) | crypto_unit |  |  |  |  |  | 9,000 |  |  |
Secured Debt | Term Loan 2024 | Minimum |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  |  |  | 4.00% | 4.00% |  |
Secured Debt | Term Loan 2024 | Maximum |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  |  |  | 16.00% | 16.00% |  |
Secured Debt | Term Loan 2025 |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Aggregate Principal Amount |  |  |  |  |  |  |  | $ 200,000 |
Fair value of Principal Outstanding |  |  |  |  |  | $ 0 |  |  |
Amounts Drawn/Borrowed |  |  |  | $ 168,462 |  |  |  |  |
Unrealized loss |  |  |  | 42,885 |  |  |  |  |
Change in fair value attributable to instrument-specific credit risk |  |  |  | 198 |  |  |  |  |
Conversion of convertible notes to common stock in connection with IPO |  |  |  | (215,414) |  |  |  |  |
Interest Expense |  |  |  | 3,869 |  |  |  |  |
Interest Payable |  | $ 0 |  | $ 0 |  |  |  |  |
Blended interest rate |  | 7.30% |  | 7.30% |  |  |  |  |
Secured Debt | Term Loan 2025 | Minimum |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  |  |  |  |  | 4.00% |
Secured Debt | Term Loan 2025 | Maximum |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  |  |  |  |  | 16.00% |

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