7Baggers

Trump Media & Technology Group Corp.
(NASDAQ:DJT) 

DJT stock logo

Digital World Acquisition Corp. was an American special-purpose acquisition company founded in 2021. In October 2021, the company announced a proposed merger agreement with Trump Media & Technology Group, the owner of Truth Social. In March 2024, the company completed merging with TMTG.

Founded: 2021
Sector: TECHNOLOGY
Industry: GENERAL
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 
                  
      net sales
    		871,200 1,005,200 972,900 883,300 821,200  1,010,900 836,900       
      operating costs and expenses
    		              
      cost of revenue
    		1,501,000 548,800 446,800 342,900 336,700  123,300 36,200 93,400      
      research and development
    		8,402,100 8,865,700 8,302,200 13,041,000 12,564,900  3,893,700 4,861,600 33,158,600      
      sales and marketing
    		691,200 729,100 717,500 556,000 497,400  2,189,400 1,175,300 1,070,400      
      general and administration
    		37,937,000 34,281,400 31,056,100 28,617,900 25,178,000  17,697,000 13,418,600 64,795,100      
      unrealized loss on digital assets and digital assets pledged
    		243,961,400              
      depreciation and amortization
    		1,866,400 1,904,500 1,904,100 1,833,500 1,779,200  762,200        
      total operating costs and expenses
    		294,359,100 433,347,500 58,631,300 44,391,300 40,356,200          
      income from operations
    		-293,487,900 -432,342,300 -57,658,400 -43,508,000 -39,535,000  -23,654,700 -18,658,500 -98,352,600      
      yoy
    		642.35%  143.75% 133.18% -59.80%          
      qoq
    		-32.12% 649.83% 32.52% 10.05%   26.78% -81.03%       
      operating margin %
    		-Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% -Infinity% -Infinity% -12764.78% NaN% NaN% NaN% NaN% NaN% 
      interest income
    		7,230,200 8,345,200 13,384,400 16,836,500 7,995,200  4,653,000 2,132,700 28,800 118.75 475    
      interest expense
    		-11,469,800 -11,582,100 -11,474,400 -4,105,100 -186,800  -246,700 157,800 -2,817,600      
      investment loss
    		-108,209,800              
      litigation settlement
    		151,900              
      loss from operations before income taxes
    		-405,785,400 -605,598,000 -54,763,900 -19,691,600 -31,726,600  -19,248,400 -16,368,000       
      income tax expense
    		-98,800 -165,200 -84,600 -310,300      6,236,095 -899,687 -904,513 -883,293  
      net income
    		-405,884,200 -605,763,200 -54,848,500 -20,001,900 -31,726,600  -19,248,400 -16,368,000 -327,599,700 -1,884,293 -12,192,367 -9,093,767 1,279,786 -159,170 
      yoy
    		1179.32%  184.95% 22.20% -90.32%  57.87% 79.99% -25698.01% 1083.82%     
      qoq
    		-33.00% 1004.43% 174.22% -36.96%   17.60% -95.00% 17285.82% -84.55% 34.07% -810.57% -904.04%  
      net income margin %
    		-Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% -Infinity% -Infinity% -42517.81% -Infinity% -Infinity% -Infinity% Infinity% -Infinity% 
      less net loss attributable to noncontrolling interest
    		70,700 218,800 40,400 19,600           
      net loss available to common stockholders
    		-405,813,500 -605,544,400 -54,808,100 -19,982,300           
      loss per share attributable to common stockholders:
    		              
      basic
    		-1.47 -2.37 -0.2 -0.08 -0.14  -0.1 -0.1       
      diluted*
    		-1.47 -2.37 -0.2 -0.08 -0.14  -0.1 -0.1 -3.61      
      weighted-average shares used for eps calculation
    		              
      basic
    		276,744,177 254,537,040 277,876,654 240,512,552 220,576,705 169,630,052 200,833,835 166,726,512 90,743,994      
      diluted
    		276,744,177 254,537,040 277,876,654 240,512,552 220,576,705 169,630,052 200,833,835 166,726,512 90,743,994      
      operating costs and expenses include stock-based compensation expense as follows:
    		              
      total stock based compensation expense
    		11,829.6    17,851.7    84,588      
      change in fair value of digital assets
    		 4,051,150 16,204,600            
      investment income
    		 3,017,375 984,500 11,085,000           
      change in fair value of derivative liabilities
    		        -225,916,000      
      loss on the conversion of convertible debt
    		              
      total costs and operating expenses
    		      24,665,600 19,459,200 99,029,700      
      costs of operating expenses include stock-based compensation expense as follows:
    		              
      total stock-based compensation expense
    		      45.7        
      gross profit
    		       800,700 677,100      
      yoy
    		              
      qoq
    		       18.25%       
      gross margin %
    		NaN% NaN% NaN% NaN% NaN% NaN% NaN% Infinity% 87.88% NaN% NaN% NaN% NaN% NaN% 
      depreciation
    		       3,700 5,600      
      loss on the convertion of convertible debt
    		              
      costs of operating expenses include stock based compensation expense as follows:
    		              
      revenue
    		        770,500      
      yoy
    		              
      qoq
    		              
      cost of operating expenses
    		              
      loss on the extinguishment of debt
    		        -542,300      
      income before income taxes
    		        -327,599,700 -1,023,184 -11,292,680 -8,189,254 2,163,079 -159,170 
      net income per share
    		              
      basic
    		        -3.61      
      formation and operating costs
    		         4,341,532 4,307,852 1,369,406 221,942 160,072 
      legal investigations expense
    		         5,159,757.5 11,581,241 388,652   
      franchise tax expense
    		         50,000 50,000 50,000 132,500  
      loss from operation costs
    		         -6,931,019.25 -15,939,093 -11,808,058 -1,023,579 -160,072 
      other income and expenses:
    		              
      insurance recoveries
    		         34,585 1,046,653    
      interest earned on cash held in trust account
    		         3,448,027 3,599,285 3,618,804 3,186,658 902 
      weighted-average shares outstanding of class a common stock
    		         30,018,099 30,000,330 30,021,576 30,021,576 7,259,331 
      basic and diluted net income per class a common stock
    		         0.05 -0.33 -0.24 0.03 -0.01 
      weighted-average shares outstanding of class b common stock
    		         7,187,258 7,187,500 7,187,500 7,187,500 7,187,500 
      basic and diluted net income per class b common stock
    		         -0.45 -0.33 -0.24 0.03 -0.01 
      regulatory settlement
    		           10,000,000   
      ♦
    		              
      legal investigations costs
    		            669,137  
      balance - december 31, 2021
    		             127 
      balance - march 31, 2022
    		             127 
      remeasurement of class a common stock to redemption value
    		              
      balance - june 30, 2022
    		             127 
      contribution from sponsor
    		              
      balance - september 30, 2022
    		             127 
      balance - december 31, 2020
    		              
      issuance of class b common stock to sponsor
    		              
      balance - march 31, 2021
    		              
      balance - june 30, 2021
    		              
      class a common stock accretion to redemption value
    		              
      issuance of class a common stock to investor
    		             113 
      issuance of class a common stock to representative
    		             14 
      balance – september 30, 2021
    		             127 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 
                       
        assets
      		                 
        current assets:
      		                 
        cash and cash equivalents
      		249,066,900 134,557,600 166,072,700 1,343,901,700 146,127,400 170,236,100 372,135,700 343,954,400 233,700,900         
        restricted cash
      		30,533,500 31,330,500 335,838,800 1,000,000,000     40,028,300         
        short-term investments
      		207,370,700 305,053,300 550,421,700 619,298,400 612,854,200 606,547,300 300,742,500           
        equity securities
      		554,142,200 722,069,100                
        prepaid expenses and other current assets
      		10,307,600 9,992,300 10,035,100 10,847,300 7,871,000 7,457,300 9,233,500 9,553,400 324,700         
        accounts receivable
      		221,600 244,500 298,800 317,300 33,100 17,400 14,800 17,500 47,200         
        total current assets
      		1,051,642,500 1,203,247,300 1,650,172,200 3,096,731,100 766,885,700 784,258,100 682,126,500 353,525,300 274,101,100 395,011 3,285,587 160,530 314,135 169,339 228,780 243,940 282,464 
        convertible note receivable
      		200,000,000 200,000,000                
        interest receivable
      		3,950,700 498,600                
        property and equipment
      		2,556,900 3,051,600 3,557,700 4,053,000 3,954,400 4,366,000 4,790,600 2,161,900 23,700         
        goodwill
      		120,884,200 120,884,200 120,884,200 120,884,200 120,884,200 120,884,200 132,171,000           
        digital assets
      		700,075,300 904,370,600 1,466,689,000               
        digital assets pledged
      		135,634,300 175,300,400                
        intangible assets
      		18,465,200 19,829,600 21,224,400 22,619,100 23,998,700 25,363,100            
        right-of-use assets
      		3,145,000 2,505,300 2,739,000 2,968,300 3,194,100 3,416,100 2,855,100 806,600 313,800         
        total assets
      		2,236,354,100 2,629,687,600 3,265,266,500 3,247,255,700 918,917,100 938,287,500 837,754,800 356,493,800 274,438,600 311,018,094 310,481,457 307,296,643 303,831,444 300,499,990 298,113,362 293,972,780 293,674,726 
        liabilities and stockholders’ equity
      		                 
        current liabilities:
      		                 
        accounts payable and accrued expenses
      		19,676,700 32,294,300 32,741,100 17,243,500 13,681,000 10,167,500 6,657,400 10,831,700 9,704,700         
        convertible notes payable
      		953,262,200 941,893,900                
        related party payables
      		262,000 262,000 262,000 262,000 262,000 262,000 262,000 262,000 262,000         
        unearned revenue
      		1,066,700 30,400 23,800  246,700 1,010,700 1,959,700 2,924,600 3,717,200         
        current portion of long-term debt
      		4,873,400 4,780,500 4,689,400 4,968,000 4,873,300 4,780,500 4,749,900           
        current portion of operating lease liability
      		1,087,400 836,200 858,500 880,600 902,300 1,080,800 734,000 276,900 163,100         
        total current liabilities
      		980,228,400 980,097,300 38,574,800 23,354,100 19,965,300 17,301,500 14,363,000 14,295,200 64,004,800 56,176,695 53,755,765 37,657,556 25,512,590 22,472,852 14,828,942 6,891,239 2,251,798 
        long-term operating lease liability
      		2,111,900 1,723,500 1,933,000 2,136,300 2,335,100 2,559,700 2,175,100 530,300 159,800         
        long-term debt - other
      		451,200 442,600  5,026,000 4,930,200 4,836,200 4,683,600           
        deferred tax liability
      		659,000 560,100 394,900 310,300              
        total liabilities
      		983,450,500 982,823,500 986,982,400 965,127,400 27,230,600 24,697,400 21,221,700 14,825,500 64,164,600 66,239,195 63,818,265 47,720,056 35,575,090 32,535,352 24,891,442 16,953,739 12,314,298 
        commitments and contingencies
      		                 
        stockholders’ equity:
      		                 
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at march 31, 2026 and december 31, 2025
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 276,953,828 and 276,724,314 shares issued and outstanding at march 31, 2026 and december 31, 2025
      		28,100                 
        paid in capital
      		5,372,372,500 5,360,448,800 5,347,340,200 5,289,923,600 3,879,735,600 3,861,662,400 3,726,957,300 3,229,937,700 3,082,180,900         
        treasury stock
      		-56,516,300 -56,516,300 -17,571,500 -11,158,900 -11,158,900 -2,908,700 -2,908,700           
        accumulated deficit
      		-4,063,060,600 -3,657,247,100 -3,051,702,700 -2,996,894,600 -2,976,912,300 -2,945,185,700 -2,907,537,000 -2,888,288,600 -2,871,920,600 -63,866,949 -59,466,556 -44,210,591 -32,866,533 -30,987,384 -23,956,249 -16,264,430 -11,890,418 
        total stockholders’ equity
      		1,252,823,700 1,646,713,500 2,278,094,100 2,281,897,900 891,686,500             
        noncontrolling interest
      		79,900 150,600 190,000 230,400              
        total equity
      		1,252,903,600 1,646,864,100 2,278,284,100 2,282,128,300              
        total liabilities and stockholders’ equity
      		2,236,354,100    918,917,100             
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at december 31, 2025 and december 31, 2024
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 276,724,314 and 220,657,014 shares issued and outstanding at december 31, 2025 and december 31, 2024
      		 28,100                
        total liabilities and stockholders’ equity/
      		 2,629,687,600    938,287,500 837,754,800 356,493,800 274,438,600         
        trading securities
      		  587,505,100 122,366,400              
        convertible notes
      		  945,645,500 934,300,700              
        long-term debt – other
      		  434,200               
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at september 30, 2025 and december 31, 2024
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 279,997,583 and 220,657,014 shares issued and outstanding at september 30, 2025 and december 31, 2024
      		  28,100               
        total liabilities and equity
      		  3,265,266,500 3,247,255,700              
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at june 30, 2025 and december 31, 2024
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 277,310,193 and 220,657,014 shares issued and outstanding at june 30, 2025 and december 31, 2024
      		   27,800              
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at march 31, 2025 and december 31, 2024
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 220,623,372 and 220,657,014 shares issued and outstanding at march 31, 2025 and december 31, 2024
      		    22,100             
        convertible promissory notes
      		        50,157,800         
        derivative liability
      		                 
        stockholders’ equity/
      		                 
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at december 31, 2024 and december 31, 2023
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 220,657,016 and 87,500,000 shares issued and outstanding at december 31, 2024 and december 31, 2023
      		     22,100            
        total stockholders’ equity/
      		     913,590,100 816,533,100 341,668,300 210,274,000         
        intangible asset
      		      15,811,600           
        liabilities and stockholders’ equity/
      		                 
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at september 30, 2024 and december 31, 2023
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 214,389,622 and 87,500,000 shares issued and outstanding at september 30, 2024 and december 31, 2023
      		      21,500           
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at june 30, 2024 and december 31, 2023
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 191,477,375 and 87,500,000 shares issued and outstanding at june 30, 2024 and december 31, 2023
      		       19,200          
        preferred stock 0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at march 31, 2024 and december 31, 2023
      		                 
        common stock 0.0001 par value – 999,000,000 shares authorized, 136,700,583 and 87,500,000 shares issued and outstanding at march 31, 2024 and december 31, 2023
      		        13,700         
        current assets
      		                 
        cash
      		         395,011 3,285,587 84,766 152,703 989 1,012 2,968 41,492 
        prepaid assets
      		           75,764 161,432 168,350 227,768 240,972 240,972 
        cash held in trust account
      		         310,623,083 307,195,870 307,136,113 303,517,309 300,330,651 297,884,582 293,682,625 293,286,629 
        liabilities, redeemable common stock and stockholders’ deficit
      		                 
        current liabilities
      		                 
        accrued expenses
      		         47,104,743 43,674,679 29,586,907 18,524,787 17,166,842 11,022,242 6,139,539 1,701,798 
        convertible note payable sponsor
      		         3,883,945        
        convertible note payable
      		         500,000        
        income taxes - payable
      		         1,790,081        
        franchise tax payable
      		         458,226 632,500 582,500 532,500 400,000 350,000 300,000 250,000 
        convertible working capital loans
      		         2,398,700        
        advances - related party
      		         41,000    425,835    
        deferred underwriter fee payable
      		         10,062,500 10,062,500 10,062,500 10,062,500 10,062,500 10,062,500 10,062,500 10,062,500 
        class a common stock subject to possible redemption, 0.0001 par value...
      		         308,645,005 306,128,902 303,957,139 301,122,041 298,951,176 297,177,323 293,282,625 293,250,000 
        stockholders’ deficit
      		                 
        preferred stock, 0.0001 par value...
      		                 
        class a common stock, 0.0001 par value...
      		         127 127 127 127 127 127 127 127 
        class b common stock, 0.0001 par value...
      		         716 719 719 719 719 719 719 719 
        additional paid-in capital
      		                 
        total stockholders’ deficit
      		         -63,866,106 -59,465,710 -44,209,745 -32,865,687 -30,986,538 -23,955,403 -16,263,584 -11,889,572 
        total liabilities, redeemable common stock and stockholders’ deficit
      		         311,018,094 310,481,457 307,296,643 303,831,444 300,499,990 298,113,362 293,972,780 293,674,726 
        note payable – sponsor
      		          2,875,000 2,875,000 2,875,000 2,875,000 2,875,000   
        income taxes payable
      		          3,666,968 2,767,281 1,862,768 979,475    
        working capital loans
      		          2,372,033 1,275,033 1,166,700 625,700 581,700 451,700 300,000 
        note payable
      		          500,000       
        advances - related parties
      		          34,585 570,835 550,835     
        liabilities and stockholders’ deficit
      		                 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 
                       
          cash flows from operating activities
        		               
          net loss
        		-405,884,200 -605,763,200 -54,848,500 -20,001,900 -31,726,600 -363,216,100 -343,967,700         
          adjustments to reconcile net loss to net cash from operating activities:
        		               
          non-cash interest expense on debt
        		11,469,800 11,582,000 11,104,100 4,105,100 186,800 2,780,100 2,659,800 2,817,600        
          non-cash interest income
        		-3,452,100               
          non-cash barter expense
        		1,035,000               
          depreciation and amortization
        		1,866,400 1,904,500 1,904,100 1,833,500 1,779,200 771,500          
          stock based compensation
        		11,829,600 13,104,600 10,490,200 17,744,600 17,851,700 84,633,700 84,588,000 84,588,000        
          unrealized loss on digital assets and digital assets pledged
        		243,961,400               
          net unrealized loss on investments
        		124,737,800 167,954,800              
          operating lease amortization
        		245,100 233,700 229,300 225,800 222,000 201,200          
          deferred taxes
        		98,800 165,200 84,600             
          change in operating assets and liabilities
        		               
          prepaid expenses and other current assets
        		7,684,800   -1,108,900 -381,600 -3,751,400 -5,269,100 2,800        
          accounts receivable
        		23,000 54,200 18,500 -284,200 -15,700 66,100 63,400 33,800        
          unearned revenue
        		1,200 6,700 23,800 -246,700 -764,000 -2,453,500 -1,488,500 -695,900        
          operating lease liabilities
        		-245,200 -231,800 -225,400 -220,500 -216,200           
          accounts payable and accrued expenses
        		24,518,600  16,885,400 3,452,900 3,326,600           
          net cash from operating activities
        		17,890,000 12,119,300 10,073,500 2,303,100 -9,737,800 -52,640,000 -30,754,300 -9,316,000 -3,432,603 -1,092,429 -196,270 -414,286 -131,956 -190,224 -586,239 
          capital expenditures
        		-7,300 -3,800 -14,000 -552,500 -3,200 -5,031,200 -2,141,900 0 0 0 0 0 0 0 0 
          free cash flows
        		17,882,700 12,115,500 10,059,500 1,750,600 -9,741,000 -57,671,200 -32,896,200 -9,316,000 -3,432,603 -1,092,429 -196,270 -414,286 -131,956 -190,224 -586,239 
          cash flows from investing activities
        		               
          purchases of equity securities
        		-1,933,500               
          purchases of property and equipment
        		-7,300 -3,800 -14,000 -552,500 -3,200 -5,031,200 -2,141,900         
          purchases of short-term investments
        		-2,317,400  -6,123,300 -6,444,200 -6,306,900           
          proceeds from short-term investments
        		100,000,000               
          net cash from investing activities
        		95,741,800 -294,174,800 -1,841,051,600 -125,746,500 -6,310,100 -312,773,700 -2,141,900  3       
          cash flows from financing activities
        		               
          repurchase of common stock
        		   0 -8,250,200 -2,908,700          
          proceeds from the exercise of warrants
        		80,500 31,600 30,100 48,700 189,400 117,949,800          
          net cash from financing activities
        		80,500 -53,967,900 -11,012,100 2,321,217,700 -8,060,800 734,976,700 374,277,900 280,472,500 542,024 753,725 128,333 566,000 3,005,000 151,700 300,000 
          net change in cash, cash equivalents, and restricted cash
        		113,712,300 -336,023,400 -1,841,990,200             
          cash, cash equivalents, and restricted cash, beginning of period
        		165,888,100  0             
          cash, cash equivalents and restricted cash, end of period
        		279,600,400               
          reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets
        		               
          cash and cash equivalents
        		249,066,900 -31,515,100 -1,177,829,000 1,197,774,300 146,127,400   233,700,900        
          restricted cash
        		30,533,500 -304,508,300 -664,161,200     40,028,300        
          total cash, cash equivalents, and restricted cash, end of period
        		279,600,400 -336,023,400 -1,841,990,200             
          supplemental disclosure of cash flow information
        		               
          cash paid for interest
        		 0    126,400          
          cash paid for taxes
        		 79,900 0   1,897,700 1,897,700         
          noncash investing and financing activities
        		               
          operating lease asset obtained in exchange for operating lease obligation
        		884,700               
          change in fair value of derivative liabilities
        		               
          loss on extinguishment of debt
        		     542,300 542,300 542,300        
          realized and unrealized loss, net, on digital assets and digital assets pledged
        		               
          premiums received from assigned put options
        		               
          accounts payable and accrued liabilities
        		               
          purchase of intangible assets
        		               
          purchase of short-term investments
        		     -300,742,500          
          sale of short-term investments
        		               
          purchase of digital assets
        		               
          purchase of equity securities
        		               
          sale of equity securities
        		               
          investment in convertible note receivable
        		               
          proceeds of convertible notes
        		 0 0             
          repurchase of convertible notes
        		               
          repayment of convertible notes
        		               
          repayment of long-term debt
        		 0              
          proceeds from merger
        		     233,017,500 233,017,500 233,017,500        
          proceeds from pipe
        		 0 0             
          payments of debt and equity offering costs
        		 100 0             
          repurchases of common stock
        		 -38,944,800              
          proceeds from sepa
        		               
          contribution for non-controlling interest
        		 179,400 0             
          cash and cash equivalents, beginning of year
        		               
          cash, cash equivalents, and restricted cash, end of year
        		               
          reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
        		               
          shares issued for conversion of convertible notes
        		     350,426,000 350,426,000 300,426,000        
          operating lease assets obtained in exchange for operating lease obligations
        		     2,703,000 542,300         
          common stock issued for business combination
        		     132,171,000          
          common stock issued for digital assets
        		 0              
          debt and equity offering costs
        		 0 0             
          digital asset exchanged for other digital asset
        		               
          digital assets pledged as collateral for call option
        		               
          change in fair value of derivative liability
        		     225,916,000 225,916,000 225,916,000        
          change in fair value of digital assets
        		               
          other current assets
        		               
          purchases of digital assets
        		               
          proceeds from sales of short-term investments
        		               
          purchases of trading securities
        		  -473,988,300             
          sales of trading securities
        		               
          cash, cash equivalents, and restricted cash, end of period
        		  -1,841,990,200             
          reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
        		               
          digital assets exchanged for other digital assets
        		               
          net unrealized gains on investments
        		               
          sale of trading securities
        		               
          proceeds of convertible promissory notes
        		               
          net change in cash and cash equivalents
        		    -24,108,700 369,563,000 341,381,700         
          cash and cash equivalents, beginning of period
        		    170,236,100 2,572,700 2,572,700         
          cash and cash equivalents, end of period
        		    146,127,400 372,135,700 343,954,400         
          reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets
        		               
          total cash and cash equivalents and restricted cash, end of period
        		    146,127,400   273,729,200        
          net income
        		       -327,599,700  -12,192,367 -9,093,767 1,279,786 -3,797,121 -4,341,387 -1,884,389 
          related party receivable/payable
        		               
          acquisition of wct
        		               
          repayment of convertible promissory notes
        		               
          proceeds from the issuance of common stock
        		     339,463,100          
          cash and cash equivalents, end of year
        		               
          common stock issued for acquisition of wct
        		               
          common stock issued for underwriter fees
        		     10,107,500          
          accounts payable and operating lease liabilities
        		     1,870,100          
          purchase of intangible asset
        		     -7,000,000          
          proceeds from convertible promissory notes
        		     47,455,000 47,455,000 47,455,000        
          depreciation
        		      9,300 5,600        
          non-cash charge for operating lease
        		      -7,900 400        
          accounts payable
        		      6,200,100 5,073,100        
          proceeds from warrant conversion
        		      93,805,400         
          non cash investing and financing activities
        		               
          net change in cash and cash equivalents and restricted cash
        		       271,156,500        
          cash and cash equivalents and restricted cash, beginning of period
        		       2,572,700        
          cash and cash equivalents and restricted cash, end of period
        		       273,729,200        
          cash flows from operating activities:
        		               
          adjustments to reconcile net income to net cash from operating activities:
        		               
          interest earned on cash and marketable securities held in trust account
        		        -3,427,213 -3,599,285 -3,618,804 -3,186,658 -1,326,957 -395,996 -29,531 
          changes in operating assets and liabilities:
        		               
          accrued expenses
        		            4,882,703 4,437,741 1,218,263 
          income taxes payable
        		               
          prepaid insurance
        		        0 49,514 59,418 59,418 59,419 59,418 59,418 
          franchise tax payable
        		        -174,274 50,000 50,000 132,500 50,000 50,000 50,000 
          cash flows from investing activities:
        		               
          investment of cash in trust account
        		               
          cash withdrawn from trust account for taxes
        		               
          cash withdrawn from trust account for redemptions
        		               
          cash flows from financing activities:
        		               
          proceeds from convertible sponsor note
        		               
          proceeds from working capital loan
        		        26,667 1,097,000 108,333 541,000 130,000   
          (repayment of) proceeds from advances – related party
        		               
          redemption of shares
        		        -3       
          net change in cash
        		        -2,890,576 3,200,821 -67,937 151,714 -1,956 -38,524 -286,239 
          cash at beginning of period
        		        0 0 0 989 0 0 327,731 
          cash at end of period
        		        -2,890,576 3,200,821 -67,938 152,704 -1,956 -38,524 41,492 
          supplemental disclosures
        		               
          income taxes paid
        		               
          interest paid
        		               
          non-cash investing and financing activities:
        		               
          class b common stock redemption
        		               
          remeasurement of class a common stock
        		        2,516,103 2,649,598 2,493,484 2,341,672 1,019,698   
          issuance of convertible note for legal services
        		               
          accrued expenses and income taxes payable
        		         14,987,459 11,966,633 1,353,168    
          cash flows investing activities:
        		               
          cash deposited into trust for extension
        		               
          cash withdrawn from trust for taxes
        		               
          cash withdrawn from trust for redemptions
        		               
          advances - related parties
        		         -536,250 20,000 25,000    
          proceeds from sponsor note
        		               
          •
        		               
          fair value of private placement units issued for legal services
        		               
          prepaid expenses
        		          26,250 -52,500    
          accrued expenses paid by promissory note
        		               
          due to related party
        		               
          proceeds from sale of units
        		               
          proceeds from sale of private placement warrants
        		               
          repayment of sponsor note
        		               
          due from sponsor
        		               
          payment of due from sponsor
        		               
          payment of offering costs
        		               
          proceeds from issuance of class b common stock to sponsor
        		               
          deferred underwriting fee payable
        		               
          accrued deferred offering costs
        		               
          proceeds from working capital loans
        		              300,000 
          ​
        		               
          initial classification of shares of class a common stock subject to possible redemption
        		               
          ●