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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net (loss) income $ (1,193,049) $ (409,367)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 4,767 5,997
Reduction in carrying amount of right-of-use assets 3,990 4,204
Credit losses and sales allowances 606 365
Deferred taxes 76,109 (197,383)
Share-based compensation expense 29,688 18,807
Digital asset impairment losses 1,087,929 618,869
Amortization of issuance costs on long-term debt 4,297 2,977
Changes in operating assets and liabilities:    
Accounts receivable 9,281 11,197
Prepaid expenses and other current assets (7,077) (4,080)
Deposits and other assets (6,578) (1,071)
Accounts payable and accrued expenses (10,216) (8,940)
Accrued compensation and employee benefits (9,802) 1,368
Accrued interest 776 1,307
Deferred revenue and advance payments 36,945 37,825
Operating lease liabilities (4,835) (5,147)
Other long-term liabilities 32 (253)
Net cash provided by operating activities 22,863 76,675
Investing activities:    
Purchases of digital assets (225,500) (1,615,606)
Purchases of property and equipment (1,519) (1,342)
Net cash used in investing activities (227,019) (1,616,948)
Financing activities:    
Proceeds from convertible senior notes 0 1,050,000
Proceeds from senior secured notes 0 500,000
Proceeds from secured term loan, net of lender fees 204,693 0
Issuance costs paid for secured term loan, excluding lender fees (107) 0
Proceeds from other long-term secured debt 11,100 0
Proceeds from exercise of stock options 711 24,098
Payment of withholding tax on vesting of restricted stock units (541) 0
Net cash provided by financing activities 218,487 1,538,087
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (3,224) (969)
Net increase (decrease) in cash, cash equivalents, and restricted cash 11,107 (3,155)
Cash, cash equivalents, and restricted cash, beginning of period 64,434 60,759
Cash, cash equivalents, and restricted cash, end of period 75,541 57,604
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 (24,742)
Senior Secured Notes    
Financing activities:    
Issuance costs paid 0 (11,269)
Other Long-Term Secured Debt    
Financing activities:    
Issuance costs paid $ (174) $ 0