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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 65,905 $ 8,018
Restricted cash equivalents 1,016
Accounts receivable 375
Loans receivable 11,458
Prepaid expenses and other current assets 4,531 4,514
Current assets of discontinued operations 256 22
Total Current Assets 82,525 13,570
Marketable securities 31,771 4,411
Non-marketable securities 45,718 45,718
Digital assets 28,307 61,587
Staking receivables 181,011
Property and equipment, net 17,556
Right of use assets - operating 1,734
Total Assets 207,611 306,297
Current Liabilities:    
Accounts payable 436 1,539
Accrued expenses 11,497 6,377
Right of use liabilities - operating 903
Loans payable - current portion 251 251
Collateralized loan - current portion 31,513
Current liabilities of discontinued operations 223 1,232
Total Current Liabilities 13,325 40,929
Collateralized loan - non current 25,950 25,950
Total Liabilities 39,275 66,879
Commitments and contingencies (Note 13)
Stockholders’ Equity:    
Preferred stock, value
Common stock, $0.0001 par value; 5,000,000,000 shares authorized; 20,313,111 and 19,012,231 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 2 2
Additional paid-in capital 839,837 834,453
Accumulated other comprehensive income (3,195) (2,993)
Accumulated deficit (668,308) (592,044)
Total Stockholders’ Equity 168,336 239,418
Total Liabilities and Stockholders’ Equity 207,611 306,297
Related Party    
Current Liabilities:    
Accounts payable – related parties 15 17
Class B Convertible Preferred Stock    
Stockholders’ Equity:    
Preferred stock, value
Class C Preferred Stock    
Stockholders’ Equity:    
Preferred stock, value
Class K Preferred Stock    
Stockholders’ Equity:    
Preferred stock, value