FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

FAIR VALUE MEASUREMENTS

Summary of financial assets and financial liabilities measured and recorded at fair value on recurring basis

	As of December 31, 2024
		Observable	Non-observable
	Active market	input	input
	(Level 1)	(Level 2)	(Level 3)	Total
Asset:
Receivable for Bitcoin collateral	—	84,838,573	—	84,838,573

	As of December 31, 2025
		Observable	Non-observable
	Active market	input	input
	(Level 1)	(Level 2)	(Level 3)	Total
Asset:
Receivable for Bitcoin collateral	—	663,985,014	—	663,985,014