XML 70 R51.htm IDEA: XBRL DOCUMENT v3.25.3
Subsequent Events (Details)
$ / shares in Units, $ in Thousands
1 Months Ended
Nov. 10, 2025
USD ($)
day
$ / shares
shares
Nov. 07, 2025
USD ($)
bitcoin
$ / bitcoin
shares
Sep. 30, 2025
USD ($)
$ / shares
shares
Sep. 12, 2025
shares
Dec. 31, 2024
shares
Subsequent Event [Line Items]          
Warrants exercised | $     $ 0    
Preferred stock, stated value (in USD per share) | $ / shares     $ 0.001    
PIPE Pre-Funded Warrants          
Subsequent Event [Line Items]          
Warrants outstanding (in shares)     177,246,462 0  
PIPE Traditional Warrants          
Subsequent Event [Line Items]          
Warrants outstanding (in shares)     545,629,627 0  
Class A Common Stock          
Subsequent Event [Line Items]          
Common stock, shares, outstanding (in shares)     448,817,597   0
Class A Common Stock | Sales Agreement          
Subsequent Event [Line Items]          
Shares issued (in shares)     11,000,000.0    
Proceeds from sale of stock | $     $ 59,200    
Proceeds available to raise through issuance of stock | $     $ 390,800    
Class B Common Stock          
Subsequent Event [Line Items]          
Common stock, shares, outstanding (in shares)     218,035,473   0
Bitcoin          
Subsequent Event [Line Items]          
Bitcoin purchase amount | $     $ 683,046    
Subsequent Event | PIPE Pre-Funded Warrants          
Subsequent Event [Line Items]          
Warrants exercised (in shares)   113,072,210      
Warrants outstanding (in shares)   64,174,252      
Subsequent Event | PIPE Traditional Warrants          
Subsequent Event [Line Items]          
Warrants exercised (in shares)   11,073,518      
Warrants outstanding (in shares)   534,556,109      
Warrants exercised | $   $ 14,900      
Subsequent Event | Class A Common Stock          
Subsequent Event [Line Items]          
Common stock, shares, outstanding (in shares)   592,579,510      
Subsequent Event | Class A Common Stock | Sales Agreement          
Subsequent Event [Line Items]          
Shares issued (in shares)   2,375,138      
Proceeds from sale of stock | $   $ 6,200      
Proceeds available to raise through issuance of stock | $   $ 384,600      
Subsequent Event | Class B Common Stock          
Subsequent Event [Line Items]          
Common stock, shares, outstanding (in shares)   222,904,100      
Subsequent Event | Variable Rate Series A Perpetual Preferred Stock          
Subsequent Event [Line Items]          
Preferred stock, stated value (in USD per share) | $ / shares $ 100        
Preferred stock, dividend rate 12.00%        
Preferred stock, maximum reduction of dividend rate 0.25%        
Preferred stock, dividend rate initial term 3 months        
Preferred stock, threshold consecutive trading days | day 20        
Preferred stock, threshold value per share to reduce dividend rate (in USD per share) | $ / shares $ 100        
Preferred stock, threshold value per share during preceding dividend period to reduce dividend rate (in USD per share) | $ / shares $ 99        
Preferred stock, compounded dividend rate increase 0.25%        
Preferred stock, maximum dividend rate 20.00%        
Subsequent Event | Variable Rate Series A Perpetual Preferred Stock | Minimum          
Subsequent Event [Line Items]          
Preferred stock, intended stated value (in USD per share) | $ / shares $ 95        
Subsequent Event | Variable Rate Series A Perpetual Preferred Stock | Maximum          
Subsequent Event [Line Items]          
Preferred stock, intended stated value (in USD per share) | $ / shares $ 105        
Subsequent Event | Variable Rate Series A Perpetual Preferred Stock | Public Stock Offering          
Subsequent Event [Line Items]          
Shares issued (in shares) 2,000,000        
Proceeds from sale of stock | $ $ 149,300        
Sale of stock, price per share (in USD per share) | $ / shares $ 80.00        
Subsequent Event | Bitcoin          
Subsequent Event [Line Items]          
Approximate number of bitcoins purchased (in bitcoins) | bitcoin   1,639.4      
Average purchase price of bitcoin (in USD per bitcoin) | $ / bitcoin   103,799.81      
Bitcoin purchase amount | $   $ 170,200