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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net (loss) income $ (130,751) $ (110,020)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 2,691 2,782
Reduction in carrying amount of right-of-use assets 1,994 2,086
Credit losses and sales allowances 272 (172)
Deferred taxes (57,445) (76,759)
Share-based compensation expense 14,394 7,711
Digital asset impairment losses 170,091 194,095
Amortization of issuance costs on long-term debt 2,129 1,172
Changes in operating assets and liabilities:    
Accounts receivable 8,183 6,774
Prepaid expenses and other current assets (2,838) (2,919)
Deposits and other assets (5,801) (62)
Accounts payable and accrued expenses (2,041) (4,632)
Accrued compensation and employee benefits (12,735) (3,810)
Accrued interest 9,051 1,219
Deferred revenue and advance payments 48,895 47,606
Operating lease liabilities (2,382) (2,458)
Other long-term liabilities (25) 90
Net cash provided by operating activities 43,682 62,703
Investing activities:    
Purchases of digital assets (215,500) (1,086,375)
Purchases of property and equipment (641) (447)
Net cash used in investing activities (216,141) (1,086,822)
Financing activities:    
Proceeds from convertible senior notes 0 1,050,000
Proceeds from secured term loan, net of lender fees 204,693 0
Proceeds from exercise of stock options 288 23,854
Payment of withholding tax on vesting of restricted stock units (495) 0
Net cash provided by financing activities 207,291 1,049,258
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (324) (2,160)
Net increase in cash, cash equivalents, and restricted cash 34,508 22,979
Cash, cash equivalents, and restricted cash, beginning of period 64,434 60,759
Cash, cash equivalents, and restricted cash, end of period 98,942 83,738
Employee Stock Purchase Plan    
Financing activities:    
Proceeds from sales under employee stock purchase plan 2,805 0
Convertible Senior Notes    
Financing activities:    
Issuance costs paid $ 0 $ (24,596)