DIGITAL ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents the Company’s significant digital asset holdings as of December 31, 2023:


(in thousands, except for quantity)	Quantity	Cost Basis		Fair Value
Bitcoin	15,126	$	515,315	$	639,660
Total digital assets held as of December 31, 2023		$	515,315	$	639,660

ROLL-FORWARD OF DIGITAL ASSETS

The following table presents a roll-forward of total digital assets (including digital assets, restricted) for the year ended December 31, 2023, based on the fair value model under ASU 2023-08:


(in thousands)	Fair Value
Digital assets and digital assets, restricted at December 31, 2022	$	190,717
Cumulative effect of the adoption of ASU 2023-08	11,483
Beginning Balance: Digital assets and digital assets, restricted at January 1, 2023	202,200
Addition of digital assets	385,959
Disposition of digital assets	(264,945)

Realized gain (loss) on digital assets	28,738
Unrealized gain (loss) on digital assets	287,708
Digital assets at December 31, 2023	$	639,660

The following table presents a roll-forward of digital assets and digital assets, restricted for the year ended December 31, 2022, based on the cost-impairment model under ASC 350:


	(in thousands)
Digital assets and digital assets, restricted at December 31, 2021	$	95,226
Additions of digital assets	117,557
Transfer of digital assets from digital assets held in Fund	137,844
Recognition of loaned digital assets	13,324
Impairment of digital assets	(173,214)

Disposition of digital assets	(20)
Digital assets and digital assets, restricted at December 31, 2022	$	190,717

The activity in the Fund for the year ended December 31, 2022, was as follows. There was no activity in the Fund as of December 31, 2023.


	(in thousands)
Digital assets held in Fund at December 31, 2021	$	223,916

Unrealized appreciation on digital assets held in Fund	(74,723)
Disposition of digital assets held in Fund	(794)
Realized loss on in-kind distribution	(10,555)
Digital assets transferred out of Fund	(137,844)
Digital assets held in Fund at December 31, 2022	$	—