Crypto & Digital Assets

“Investing activities Net cash used in investing activities increased by $1.4 billion for the nine months ended September 30, 2025 as compared to 2024 as we invested more of our available cash, including: • $687.6 million in net cash used for business combinations in 2025, primarily due to the completion of the Deribit acquisition in August; • a $487.7 million increase in cash used for net purchases of crypto assets held for investment; and • a $231.8 million increase in cash used for the origination of fiat loans, net of repayments, reflecting higher demand for institutional financing products.”

COIN 10-Q · 2025-10-30

“Our primary sources of liquidity during and subsequent to the period included: ● net proceeds from our June 2025 underwritten public offering of common stock of approximately $7,717,761, after underwriting discounts, commissions and offering expenses; ● proceeds from July 2025 private placements of common stock and pre-funded warrants and digital asset consideration of approximately $230,290; ● our Registration Statement on Form S-3ASR filed July 9, 2025 and an equity sales agreement with Cantor Fitzgerald & Co. and ThinkEquity LLC, providing the ability, at our discretion and subject to market conditions, to sell up to $20 billion of our common stock from time to time in our ATM Program; and ● our related-party line of credit with IDI, which was addressed through a letter agreement and restructuring arrangements described below.”

BMNR 10-K · 2025-11-21

“Adjusted EBITDA Adjusted EBITDA, a non-GAAP financial measure, is calculated as net income (loss) from continuing operations excluding: net income (loss) attributable to noncontrolling interests, depreciation and amortization expenses; interest expense, net of amortization of discounts and premiums;”

CRCL 10-Q · 2026-08-05