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Digital Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Digital Assets

Note 5 – Digital Assets

 

Effective January 1, 2024, the Company early adopted ASU 2023-08, which required entities to measure digital assets or “cryptocurrencies” at fair value with changes recognized in the Consolidated Statements of Income each reporting period.

 

The following table presents the Company’s digital asset holdings as of March 31, 2025:

 

   March 31, 2025   December 31, 2024 
(in thousands, except for quantity)  Quantity   Cost Basis   Fair Value   Quantity   Cost Basis   Fair Value 
Bitcoin   7   $178   $578    7   $178   $654 
Total digital assets held       $178   $578        $178   $654 

 

The following table presents a roll-forward of total digital assets for the three months ended March 31, 2025:

 

(in thousands)  Fair Value 
Digital assets December 31, 2024  $654 
Unrealized gain on digital assets   (76)
Digital assets March 31, 2025  $578