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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 50,548 $ 37,883
U.S. dollar coin 257 12
Treasury bills 0 30,490
Accounts receivable 5,953 7,654
Prepaid expenses 3,496 2,326
Income tax receivable 5,954 4,305
Other current assets 718 125
Total current assets 66,926 82,795
OTHER ASSETS    
Fixed assets, net 426 357
Digital assets 263,911 196,359
Software assets, net 4,788 6,129
Other long term asset 52 109
Indefinite-lived assets 2,146 2,146
Other investments 200 100
Deferred tax assets 2 0
Total other assets 271,525 205,200
TOTAL ASSETS 338,451 287,995
CURRENT LIABILITIES    
Accounts payable 4,058 1,162
Other current liabilities 9,663 7,183
Total current liabilities 13,721 8,345
LONG-TERM LIABILITIES    
Other long-term liabilities 376 344
Deferred tax liability 27,650 21,779
Total long-term liabilities 28,026 22,123
Total liabilities 41,747 30,468
STOCKHOLDERS' EQUITY    
ADDITIONAL PAID IN CAPITAL 123,047 124,387
ACCUMULATED OTHER COMPREHENSIVE LOSS (2,070) (752)
RETAINED EARNINGS 175,727 133,892
Total stockholders’ equity 296,704 257,527
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 338,451 $ 287,995