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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net (loss) income $ (110,020) $ 657
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 2,782 2,756
Reduction in carrying amount of right-of-use assets 2,086 2,053
Credit losses and sales allowances (172) 828
Deferred taxes (76,759) 957
Share-based compensation expense 7,711 3,111
Digital asset impairment losses 194,095 0
Amortization of issuance costs on convertible senior notes 1,172 0
Changes in operating assets and liabilities:    
Accounts receivable 6,774 14,406
Prepaid expenses and other current assets (2,919) (3,295)
Deposits and other assets (62) 84
Accounts payable and accrued expenses (3,413) (154)
Accrued compensation and employee benefits (3,810) (13,031)
Deferred revenue and advance payments 47,606 22,001
Operating lease liabilities (2,458) (2,238)
Other long-term liabilities 90 934
Net cash provided by operating activities 62,703 29,069
Investing activities:    
Purchases of digital assets (1,086,375) 0
Proceeds from redemption of short-term investments 0 10,000
Purchases of property and equipment (447) (661)
Purchases of short-term investments 0 (9,928)
Net cash used in investing activities (1,086,822) (589)
Financing activities:    
Proceeds from convertible senior notes 1,050,000 0
Issuance costs paid for convertible senior notes (24,596) 0
Proceeds from sale of class A common stock under exercise of employee stock options 23,854 340
Purchases of treasury stock 0 (50,747)
Net cash provided by (used in) financing activities 1,049,258 (50,407)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (2,160) (3,871)
Net increase (decrease) in cash, cash equivalents, and restricted cash 22,979 (25,798)
Cash, cash equivalents, and restricted cash, beginning of period 60,759 457,816
Cash, cash equivalents, and restricted cash, end of period $ 83,738 $ 432,018