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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Current assets      
Cash and cash equivalents $ 284,024 $ 329,230 $ 405,145
Short-term investments 0 100,000  
Investments in securities, available-for-sale 119,374 78,344  
Interest receivable 1,728 3,682  
Prepaid expenses and other current assets 3,380 1,774  
Total current assets 408,506 513,030  
Long-term assets      
Restricted cash 2,470 2,446 2,415
Investments in securities, available-for-sale 68,913 22,628  
Intangible assets, net 1,208,295 1,241,343  
Goodwill 0 359,847  
Property, plant, and equipment, net 96,595 151,470  
Operating lease right-of-use assets 4,028 2,699  
Other long-term assets 667 652  
Total assets 1,789,474 2,294,115  
Current liabilities      
Accounts payable 1,045 3,092  
Accrued liabilities 10,090 7,407  
Due to related parties 29,459 6,537  
Operating lease liabilities, current portion 1,025 683  
Finance lease liabilities, current portion 187 187  
Earnout Shares liability 21   $ 0
Total current liabilities 41,827 17,906  
Earnout Shares liability 0 1,958  
Warrant liability 7,641 81,283  
Asset retirement obligation 3,427 3,265  
Non-current operating lease liabilities 2,993 2,125  
Non-current finance lease liabilities 28 110  
Tax Receivable Agreement liability 0 20,974  
Deferred taxes 3,079 4,306  
Total liabilities 58,995 131,927  
Commitments and contingencies (Note 14)  
Mezzanine shareholders' equity      
Redeemable non-controlling interests in subsidiary 1,114,279 1,506,584  
Shareholders' equity      
Preferred Stock, $.0001 par value; 1,000 shares authorized; no shares issued or outstanding as of June 30, 2025 and December 31, 2024 0 0  
Additional paid-in capital 879,653 771,594  
Accumulated other comprehensive loss 61 32  
Accumulated deficit (263,536) (116,044)  
Total shareholders' equity 616,200 655,604  
Total liabilities, mezzanine shareholders' equity, and shareholders' equity 1,789,474 2,294,115  
Class A Common Stock      
Shareholders' equity      
Common stock, value, issued 8 8  
Class B Common Stock      
Shareholders' equity      
Common stock, value, issued $ 14 $ 14