FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Fair Value of Derivative Assets and Liability

The following presents the levels of the fair value hierarchy for the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 (in thousands):


	Fair Value Hierarchy
	Level 1		Level 2		Level 3		Fair value
Assets:
Cash and cash equivalents
Money market funds	$	832,213	$	—	$	—	$	832,213
Digital assets	23,893		—		—		23,893
Total assets measured at fair value on a recurring basis	$	856,106	$	—	$	—	$	856,106



Liabilities:
Contingent value rights	$	4,272	$	—	$	—	$	4,272
Warrants	1,097,285		—		—		1,097,285
Total liabilities measured at fair value on a recurring basis	$	1,101,557	$	—	$	—	$	1,101,557

Schedule of Derivative Instruments Statements of Balance Sheet and Statement of Operations, Location

The following table summarizes the fair value of the energy forward purchase contract on the Company’s Consolidated Balance Sheets (in thousands):


		Fair Value (Level 2)
	Financial statement line item	December 31, 2024		December 31, 2023
Energy forward purchase contract	Accrued expenses and other current liabilities	$	—	$	2,262

The Company recorded the following losses related to the energy forward purchase contract on the Company’s Consolidated Statements of Operations (in thousands):


		Year Ended December 31,
	Financial statement line item		2024		2023
Energy forward purchase contract	Change in fair value of energy derivatives		$	(2,757)	$	(3,918)