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Digital Assets | 3 Months Ended
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Mar. 31, 2021
Intangible Assets Net Excluding Goodwill [Abstract] |
Digital Assets | (3) Digital Assets The Company accounts for its digital assets as indefinite-lived intangible assets in accordance with Accounting Standards Codification (“ASC”) 350, Intangibles—Goodwill and Other. The Company’s digital assets are initially recorded at cost. Subsequently, they are measured at cost, net of any impairment losses incurred since acquisition. During the three months ended March 31, 2021, the Company purchased approximately 20,857 bitcoins for $1.086 billion in cash, including cash from the net proceeds related to the issuance of its convertible senior notes due 2027. During the three months ended March 31, 2021, the Company incurred $194.1 million of impairment losses on its bitcoin, which were recognized as “Digital asset impairment losses” in the Company’s Consolidated Statement of Operations. As of March 31, 2021, the carrying value of the Company’s approximately 91,326 bitcoins was $1.947 billion, which reflects cumulative impairments of $264.8 million. As of December 31, 2020, the carrying value of the Company’s approximately 70,469 bitcoins was $1.054 billion, which reflected cumulative impairments of $70.7 million. The carrying value represents the lowest fair value (based on Level 1 inputs in the fair value hierarchy) of the bitcoins at any time since their acquisition. Therefore, these fair value measurements were made during the period from their acquisition through March 31, 2021 or December 31, 2020, respectively, and not as of March 31, 2021 or December 31, 2020, respectively. The Company did not sell any of its bitcoins during the three months ended March 31, 2021.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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- References No definition available. + Details
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