XML 15 R4.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Staking revenue $ 2,463 $ 0
Unrealized gain on digital assets 22,674 0
Operating expenses:    
General and administrative 2,848 2,701
Impairment of long-lived assets 0 589
Total operating expenses 2,848 3,290
Operating income (loss) 22,289 (3,290)
Non-cash loss on fair value of warrant liabilities in excess of proceeds at issuance (5,302,617) 0
Non-cash gain on changes in fair value of warrant liabilities 5,837,607 0
Other expense, net (1,422) (40)
Total non-operating income (expense), net 533,568 (40)
Net income (loss) from continuing operations before tax 555,857 (3,330)
Income tax expense 3,454 0
Net income (loss) from continuing operations 552,403 (3,330)
Net income from discontinued operations, net of taxes (Note 13) 0 11,000
Net income $ 552,403 $ 7,670
Weighted average shares outstanding:    
Basic (and diluted for net loss) (in shares) 26,015 1,062
Diluted for net income (in shares) 165,709 1,083
Basic and diluted net income (loss) per share attributable to common stockholders:    
Basic earnings (loss) per share from continuing operations (in dollars per share) $ 21.23 $ (3.14)
Basic earnings per share from discontinued operations (in dollars per share) 0 10.36
Basic earnings per share attributable to common stockholders (in dollars per share) 21.23 7.22
Diluted earnings (loss) per share from continuing operations (in dollars per share) 3.33 (3.07)
Diluted earnings per share from discontinued operations (in dollars per share) 0 10.15
Diluted earnings per share attributable to common stockholders (in dollars per share) $ 3.33 $ 7.08