Annual report [Section 13 and 15(d), not S-K Item 405]

Digital Assets

v3.25.1
Digital Assets
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Digital Assets

5. Digital Assets

We have ownership of and control over our digital assets and we use third-party custodial services or self-custody solutions to secure them. The digital assets are initially recorded at cost and, upon our adoption of ASU 2023-08, are subsequently remeasured at fair value with changes in fair value recorded in net income in each reporting period.

We determine the fair value of our digital assets in accordance with ASC 820, Fair Value Measurement, based on quoted prices on the active exchange(s) that we have determined is the principal market for bitcoin, ethereum and other digital asset holdings (Level 1 inputs).

Changes in our digital asset holdings for the years ended December 31, 2024 and 2023 were as follows:

 

 

Bitcoin

 

 

Ethereum

 

 

Other

 

 

Total

 

Balance at December 31, 2022

 

$

9,460

 

 

$

350

 

 

$

327

 

 

$

10,137

 

Digital assets received

 

 

3

 

 

 

-

 

 

 

65

 

 

 

68

 

Exchanges of digital assets

 

 

-

 

 

 

557

 

 

 

(557

)

 

 

-

 

Disposal proceeds

 

 

(14,154

)

 

 

(1,236

)

 

 

-

 

 

 

(15,390

)

Gain on sale of digital assets

 

 

4,708

 

 

 

381

 

 

 

221

 

 

 

5,310

 

Impairment expense

 

 

-

 

 

 

-

 

 

 

(50

)

 

 

(50

)

Balance as of December 31, 2023

 

$

17

 

 

$

52

 

 

$

6

 

 

$

75

 

Unrealized change in digital assets

 

 

60

 

 

 

(26

)

 

 

(6

)

 

 

28

 

Balance as of December 31, 2024

 

$

77

 

 

$

26

 

 

$

-

 

 

$

103

 

As of December 31, 2024, we held approximately 0.82 Bitcoin and 8.02 Ethereum.