v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 453,443 $ 836,197
Restricted cash 0 783
Digital assets 241,355 23,893
Customer funding receivable and other current assets 366,235 43,089
Total Current Assets 1,061,033 903,962
Property, plant and equipment, net 1,078,803 556,342
Operating lease right-of-use assets 107,784 114,472
Other noncurrent assets 48,360 24,039
Total Assets 2,295,980 1,598,815
Current Liabilities:    
Accounts payable 212,179 19,265
Accrued expenses 358,270 64,670
Deferred revenue 83,739 18,134
Other current liabilities 15,675 32,493
Total Current Liabilities 669,863 134,562
Convertible and other notes payable, net of current portion 1,059,007 1,073,990
Warrant liabilities 1,330,483 1,097,285
Other noncurrent liabilities 364,587 113,158
Total Liabilities 3,423,940 2,418,995
Commitments and contingencies (Note 9)
Stockholders’ Deficit:    
Preferred stock; $0.00001 par value; 2,000,000 shares authorized; none issued and outstanding at September 30, 2025 and December 31, 2024 0 0
Common stock; $0.00001 par value; 10,000,000 shares authorized at September 30, 2025 and December 31, 2024; 308,381 and 292,606 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 3,110,021 2,915,035
Accumulated deficit (4,237,984) (3,735,218)
Total Stockholders’ Deficit (1,127,960) (820,180)
Total Liabilities and Stockholders’ Deficit $ 2,295,980 $ 1,598,815

Source

10-Q XBRL Zip