Digital Assets (Tables)

12 Months Ended

Dec. 31, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Summary of Digital Asset Holdings, Digital Asset Purchases, Digital Asset Sales, Digital Asset Impairment Losses, and Gains on Sale of Digital Assets

The following table summarizes the Company’s digital asset holdings (in thousands, except number of bitcoins), as of:

	December 31,
	2024		2023
Approximate number of bitcoins held		447,470		189,150
Digital assets carrying value	$	23,909,373	$	3,626,476
Cumulative digital asset impairment losses	$	4,058,875	$	2,269,013

The carrying value on the Company’s Consolidated Balance Sheet at each period-end represents the lowest fair value (based on Level 1 inputs in the fair value hierarchy) of the bitcoins at any time since their acquisition. Therefore, these fair value measurements were made during the period from their acquisition through December 31, 2024 or 2023, respectively, and not as of December 31, 2024 or 2023, respectively.

The following table summarizes the Company’s digital asset purchases, digital asset sales, digital asset impairment losses, and gains on sale of digital assets (in thousands, except number of bitcoins) for the periods indicated:

	Years Ended December 31,
	2024		2023		2022
Approximate number of bitcoins purchased		258,320		56,650		8,813
Approximate number of bitcoins sold		0		0		704
Digital asset purchases	$	22,072,759	$	1,902,299	$	287,921
Digital asset sales	$	0	$	0	$	11,817
Digital asset impairment losses	$	1,789,862	$	115,851	$	1,287,213
Gains on sale of digital assets	$	0	$	0	$	927