DIGITAL ASSETS |
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DIGITAL ASSETS |
NOTE 9. DIGITAL ASSETS
On October 23, 2025, the Company adopted Berachain as its primary treasury reserve asset. Under this new treasury strategy, the Company purchases and holds Berachain for long term investment purposes. The Company accounts for its Berachain as digital asset in accordance with ASC 350, Intangibles-Goodill and Other and has ownership over its Berachain, which are included in digital assets in the Consolidated Balance Sheets. As of December 31, 2025, there were no contractual restrictions on the Company sale of its Berachain assets.
Berachain investment
The Company’s BERA acquisition for investment purpose are initially recorded at cost, inclusive of transaction costs and fees. Subsequently, the Company remeasure its BERA investment at fair value at the end of each reporting period with changes recognized in net income through other (expense) income, net on the Company’s Consolidated Statements of Operations.
The following table sets forth the units held, cost basis, and fair value of both USDT, ETH, BERACHAIN and USDC held, as shown on the balance sheet as of December 31, 2025 (In thousands, except per coin):
Cost basis is equal to the cost of the digital asset, net of any transaction fees, if any, at the time of purchase or upon receipt. Fair value represents the quoted digital assets prices within the Company’s principal market at the time of measurement (11:59 Eastern).
The Company began cryptocurrency activities during the year ended December 31, 2025.
The following table presents a roll forward of the Company’s digital asset holdings, including BERA tokens, as well as U.S. dollar-denominated stablecoins held in Company-controlled wallets, for the year ended December 31, 2025. Digital assets are measured at fair value with changes recognized in earnings, while stablecoins are classified as cash equivalents and included for informational purposes only.
The Company did not hold any digital assets during the year December 31, 2024.
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