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Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

Revenue Recognition [Abstract]

Schedule of Revenue

Revenue consisted of the following (in thousands):

		Three Months Ended March 31, 2026
Native staking revenue		$	1,469
Liquid staking revenue1			302
Aircraft engine rental			1,088
Total revenue		$	2,859

(1) Liquid staking revenue includes $0.3 million of staking rewards earned through participation in liquid staking protocols.

Schedule of Revenue from the Following Major Customers

The Company generated revenue from the following major customers, each of which represented 10% or greater of total revenue. All such revenue was generated within the Company’s single reportable segment (in thousands):

		Three Months Ended March 31, 2026
Coinbase – staking income		$	1,469
Ether.fi – liquid staking			339
Puffer – liquid staking			(37	)
Delta Air Lines, Inc			1,088
Total revenue		$	2,859

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

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X

- Definition

Tabular disclosure of extent of reliance on customer if it is not provided as part of reportable segment information. Includes, but is not limited to, revenue from transaction with single customer that is 10 percent or more than consolidated revenue and segment reporting revenue from such customer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

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