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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income (loss) $ 483,436 $ (1,193,049)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,661 4,767
Reduction in carrying amount of right-of-use assets 4,320 3,990
Credit losses and sales allowances 438 606
Deferred taxes (530,628) 76,109
Release of liabilities for unrecognized tax benefits (102) 0
Share-based compensation expense 33,049 29,688
Digital asset impairment losses 43,054 1,087,929
Amortization of issuance costs on long-term debt 4,400 4,297
Gain on debt extinguishment (44,686) 0
Changes in operating assets and liabilities:    
Accounts receivable 17,737 9,281
Prepaid expenses and other current assets 4,861 (7,077)
Deposits and other assets 1,189 (6,578)
Accounts payable and accrued expenses (9,400) (10,216)
Accrued compensation and employee benefits (15,559) (9,802)
Accrued interest (1,336) 776
Deferred revenue and advance payments 26,952 36,945
Operating lease liabilities (5,233) (4,835)
Other long-term liabilities (228) 32
Net cash provided by operating activities 18,925 22,863
Investing activities:    
Purchases of digital assets (526,278) (225,500)
Purchases of property and equipment (1,138) (1,519)
Net cash used in investing activities (527,416) (227,019)
Financing activities:    
Proceeds from secured term loan, net of lender fees 0 204,693
Issuance costs paid for secured term loan, excluding lender fees 0 (107)
Repayments of secured term loan and third-party extinguishment costs (160,033) 0
Proceeds from other long-term secured debt 0 11,100
Issuance costs paid for other long-term secured debt 0 (174)
Repayments of other long-term secured debt (254) 0
Proceeds from sale of common stock under public offerings 676,068 0
Issuance costs paid related to sale of common stock under public offerings (3,628) 0
Proceeds from exercise of stock options 12,104 711
Payment of withholding tax on vesting of restricted stock units (726) (541)
Net cash provided by financing activities 525,911 218,487
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (235) (3,224)
Net (decrease) increase in cash, cash equivalents, and restricted cash 17,185 11,107
Cash, cash equivalents, and restricted cash, beginning of period 50,868 64,434
Cash, cash equivalents, and restricted cash, end of period 68,053 75,541
Employee Stock Purchase Plan    
Financing activities:    
Proceeds from sales under employee stock purchase plan $ 2,380 $ 2,805