Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

Summary of Significant Accounting Policies

Schedule of change in the research and development incentive receivable

The following table shows the change in the research and development incentive receivable from January 1, 2025 to June 30, 2026 (in thousands):

Balance at January 1, 2025	$	704
Australian research and development incentives		(157)
Foreign currency translation		55
Balance at December 31, 2025		602
Foreign currency translation		41
Cash received for eligible expenses		(643)
Balance at June 30, 2026	$	—

Schedule of assets and liabilities carried at fair value in accordance with the hierarchy

A summary of the assets carried at fair value in accordance with the hierarchy defined above is as follows (in thousands):

	Total		Level 1		Level 2		Level 3
June 30, 2026
Assets:
Cash equivalents	$	5,931	$	5,931	$	—	$	—
Digital assets receivable		129,387		129,387		—		—
Total assets	$	135,318	$	135,318	$	—	$	—
December 31, 2025
Assets:
Cash equivalents	$	10,777	$	10,777	$	—	$	—
Digital assets receivable		147,404		147,404		—		—
Total assets	$	158,181	$	158,181	$	—	$	—