v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 1,005,148 $ 311,378
Restricted cash, current portion 60,244 0
Digital assets 37,312 222,000
Customer funding receivable and other current assets 352,128 362,159
Total Current Assets 1,454,832 895,537
Property, plant and equipment, net 1,344,924 1,293,299
Operating lease right-of-use assets 105,986 108,484
Restricted cash, net of current portion 80,593 0
Other noncurrent assets 83,229 50,324
Total Assets 3,069,564 2,347,644
Current Liabilities:    
Accounts payable 218,857 126,106
Accrued expenses 364,479 511,957
Deferred revenue 219,555 127,561
Notes payable, current portion 993,944 0
Warrant liabilities, current portion 844,752 0
Other current liabilities 20,196 15,777
Total Current Liabilities 2,661,783 781,401
Convertible and other notes payable, net of current portion 1,061,651 1,060,325
Warrant liabilities, net of current portion 116,495 936,107
Deferred revenue, net of current portion 434,672 428,290
Other noncurrent liabilities 100,649 104,261
Total Liabilities 4,375,250 3,310,384
Commitments and contingencies (Note 9)
Stockholders’ Deficit:    
Preferred stock; $0.00001 par value; 2,000,000 shares authorized; none issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock; $0.00001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; 316,949 and 314,231 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 3 3
Additional paid-in capital 3,188,202 3,183,960
Accumulated deficit (4,493,891) (4,146,703)
Total Stockholders’ Deficit (1,305,686) (962,740)
Total Liabilities and Stockholders’ Deficit $ 3,069,564 $ 2,347,644

Source

10-Q XBRL Zip