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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net (loss) income $ (409,367) $ 4,044
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 5,997 5,828
Reduction in carrying amount of right-of-use assets 4,204 4,085
Credit losses and sales allowances 365 990
Deferred taxes (197,383) 273
Share-based compensation expense 18,807 5,337
Digital asset impairment losses 618,869 0
Amortization of issuance costs on long-term debt 2,977 0
Changes in operating assets and liabilities:    
Accounts receivable 11,197 21,022
Prepaid expenses and other current assets (4,080) (493)
Deposits and other assets (1,071) 195
Accounts payable and accrued expenses (7,633) (1,823)
Accrued compensation and employee benefits 1,368 (8,708)
Deferred revenue and advance payments 37,825 347
Operating lease liabilities (5,147) (4,662)
Other long-term liabilities (253) 86
Net cash provided by operating activities 76,675 26,521
Investing activities:    
Purchases of digital assets (1,615,606) 0
Proceeds from redemption of short-term investments 0 10,000
Purchases of property and equipment (1,342) (1,162)
Purchases of short-term investments 0 (9,928)
Net cash used in investing activities (1,616,948) (1,090)
Financing activities:    
Proceeds from convertible senior notes 1,050,000 0
Proceeds from senior secured notes 500,000 0
Proceeds from sale of class A common stock under exercise of employee stock options 24,098 1,902
Purchases of treasury stock 0 (61,875)
Net cash provided by (used in) financing activities 1,538,087 (59,973)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (969) (1,154)
Net decrease in cash, cash equivalents, and restricted cash (3,155) (35,696)
Cash, cash equivalents, and restricted cash, beginning of period 60,759 457,816
Cash, cash equivalents, and restricted cash, end of period 57,604 422,120
Convertible Senior Notes    
Financing activities:    
Issuance costs paid (24,742) 0
Senior Secured Notes    
Financing activities:    
Issuance costs paid $ (11,269) $ 0