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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 19,132 $ 11,693
Reconciliation of Net Income to Net Cash (Used in) Provided by Operating Activities:    
Depreciation 317 480
Amortization of debt issuance costs 434  
Deferred tax expense (benefit) 10,529 (353)
Loss on disposal of assets for lease 193 323
Allowance for credit losses (109) (21)
Change in fair value of notes held for investment   (128)
Change in fair value of intangible digital assets (70,422) 3,918
Change in fair value of receivable for Bitcoin collateral (1,471)  
Gain on redemption of notes receivable (803)  
Stock-based compensation 5,393 498
Impairment of investments 1,135  
Changes in Operating Assets and Liabilities:    
Trade accounts receivable 1,929 (512)
Inventory (127) 65
Prepaid expenses and other current assets (1,324) 388
Other non-current assets 84 64
Accounts payable 60 143
Accrued expenses 1,141 756
Other current and non-current liabilities (70) (16)
Deferred revenue (363) (315)
Net Cash (Used in) Provided by Operating Activities (34,342) 16,983
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property and equipment (11) (48)
Purchase of notes held for investment (1,150) (500)
Purchase of digital assets (289,246) (68,400)
Proceeds from maturities of notes receivable 5,903  
Purchase of assets for lease (253) (35)
Net Cash Used in Investing Activities (284,757) (68,983)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Taxes paid related to net settlement of equity awards   (874)
Proceeds from issuance of long-term debt 100,000  
Debt issuance costs (4,016)  
Proceeds from short-term debt 20,000  
Capital call premium (7,740)  
Proceeds from issuance of common stock 214,964 2,536
Stock issuance expenses (3,488) (588)
Proceeds from exercise of stock options 738 295
Net Cash Provided by Financing Activities 320,458 1,369
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,359 (50,631)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 8,952 57,332
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 10,311 $ 6,701