“Interest Expense (Income), Net (in thousands, except for percentages) Three Months Ended March 31, 2026 2025 $ Change % Change Interest expense, net $ 53,195 $ 17,243 $ 35,952 209 % Interest expense, net, increased by $36.0 million for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily due to the issuance of our 2030 and 2033 Senior Notes in the third quarter of 2025, which more than offset interest income received on invested funds.”
“If demand increases sharply, either to buy or to sell bitcoin, we may not be able to fulfill that demand in a timely manner or at all, which could result in customer frustration or movement to other platforms.”
“These were partially offset by repurchases of common stock of $987.2 million as well as net repayments under Warehouse Facilities borrowings of $647.7 million.”