Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of company's financial assets and liabilities that are measured at fair value on a recurring basis The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 by level within the fair value hierarchy, are as follows:
(in thousands) March 31, 2026
Quoted prices
in active
markets
Significant
other
observable
inputs
Significant
unobservable
inputs
(Level 1) (Level 2) (Level 3)
Assets:
Equity investment - NYIAX $ —  $ —  $ 1,766 
Bitcoin $ 57,111  $ —  $ — 
Liabilities:
Convertible note payable $ —  $ —  $ — 
Warrant liabilities $ —  $ —  $
(in thousands) December 31, 2025
Quoted prices
in active
markets
Significant
other
observable
inputs
Significant
unobservable
inputs
(Level 1) (Level 2) (Level 3)
Assets:
Equity investment - NYIAX
$ —  $ —  $ 4,300 
Bitcoin
$ 92,222  $ —  $ — 
Liabilities:
Convertible note payable $ —  $ —  $ 3,936 
Warrant liabilities $ —  $ —  $
Schedule of changes in fair value of the Company's convertible notes
The following table includes a summary of changes in fair value of the EOS Convertible Notes.
For the three months ended March 31,
(in thousands) 2026 2025
Beginning balance $ 3,936  $ 10,000 
Accrued interest on DV note — 
Payoff on DV note (3,939) — 
Ending balance $ —  $ 10,000 
Schedule of crypto assets held for operations
The following table summarizes Crypto assets held for operations (in thousands, except units):
March 31, 2026
Units Cost Basis Fair Value
Bitcoin 837  $ 73,108  $ 57,111 
December 31, 2025
Units Cost Basis Fair Value
Bitcoin 1,054  $ 92,051  $ 92,222 
Schedule of crypto assets
March 31, 2026
Units Cost Basis Fair Value
Beginning balance 1,054  $ 92,051  $ 92,222 
Additions —  —  — 
Disposals (217) (18,943) (18,978)
Fair value remeasurement —  —  (16,133)
Ending balance 837  $ 73,108  $ 57,111