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Consolidated Statement of Operations - USD ($)
$ in Thousands
4 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
General and administrative expenses $ (151,415)      
Unrealized foreign currency gain 5      
Net income $ (151,410)      
Weighted average shares outstanding, basic (in Shares) 105      
Weighted average shares outstanding, diluted (in Shares) 105      
Loss per share, basic (in Dollars per share) $ (1,442)      
Loss per share, diluted (in Dollars per share) (1,442)      
Net income per share:        
Loss per share, diluted (in Dollars per share) $ (1,442)      
Weighted average of ordinary shares used to compute net income per share:        
Weighted average shares outstanding, diluted (in Shares) 105      
CoinShares International Limited        
Net income   $ 114,272 $ 162,448 $ 75,755
Weighted average shares outstanding, basic (in Shares)   65,831,201 66,543,318 67,282,937
Weighted average shares outstanding, diluted (in Shares)   65,831,201 67,122,760 68,968,578
Loss per share, basic (in Dollars per share)   $ 1.74 $ 2.44 $ 1.13
Loss per share, diluted (in Dollars per share)   $ 1.74 $ 2.42 $ 1.1
Revenue   $ 165,677 $ 155,540 $ 87,711
Gains/(losses) from operations        
(Loss)/gain on digital assets and digital asset ETPs   (982,773) 2,933,410 1,744,803
Gain/(loss) on certificate liabilities   802,747 (2,910,985) (1,703,465)
Other operating gains/(losses)   211,999 19,835 (28,366)
Total gains/(losses) from operations   31,973 42,260 12,972
Operating expenses        
Cost of revenue (excluding depreciation and amortization)   20,189 15,209 7,092
Salaries and employee benefits   19,521 21,737 13,316
Share-based compensation   2,839 12,369 1,261
Professional fees   9,870 4,655 4,497
Marketing expense   5,291 5,471 3,219
Technology expense   4,474 2,738 2,404
Depreciation and amortization   3,143 3,022 3,993
Allowance for credit losses   (1,142) 1,902
Other general and administrative expenses   6,474 5,686 3,628
Total operating expenses   70,659 72,789 39,410
Operating income   126,991 125,011 61,273
Other income (expenses)        
Income from sale of FTX claim   36,816
(Loss)/gain on treasury digital assets   (4,685) 3,493
Fair value (loss)/gain on investments   (1,574) 997 16,002
Impairment of equity method investment   (74) (270)
Interest income   1,793 8,495 7,975
Interest expense   (7,804) (11,355) (8,510)
Income before income taxes   114,721 163,383 76,470
Income tax expense   449 935 715
Other comprehensive income        
Foreign currency translation adjustment   1,713 4,109 (12,148)
Total comprehensive income   $ 115,985 $ 166,557 $ 63,607
Net income per share:        
Loss per share, diluted (in Dollars per share)   $ 1.74 $ 2.42 $ 1.1
Weighted average of ordinary shares used to compute net income per share:        
Weighted average shares outstanding, diluted (in Shares)   65,831,201 67,122,760 68,968,578