Digital Assets, at Fair Value (Tables)

12 Months Ended

Dec. 31, 2025

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Changes in Digital Assets

The following table provides a summary of the changes in the Company's digital assets, at fair value for the period from September 12, 2025 to December 31, 2025 (in thousands):

	Period from September 12, 2025 to December 31, 2025
Balance, beginning of period	$	—
Acquisitions	862,994
Sales	—
Aggregate cost basis	$	862,994
Change in fair value	(194,508)
Balance, end of period	$	668,486

Schedule of Investments in Digital Assets

The Company's investments in digital assets are summarized below. The Company did not hold any investments in digital assets prior to September 12, 2025.

	December 31, 2025		December 31, 2024
	(Successor)		(Predecessor)
Approximate number of bitcoin held	7,627		—
Weighted average acquisition cost	$	113,153	$	—
Fair value per bitcoin	$	87,650	$	—