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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income (loss) $ 339,995 $ (1,220,128)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 9,405 6,917
Reduction in carrying amount of right-of-use assets 6,438 6,020
Credit losses and sales allowances 752 1,189
Deferred taxes (425,986) 90,166
Release of liabilities for unrecognized tax benefits (162) 0
Share-based compensation expense 49,855 46,587
Digital asset impairment losses 76,613 1,088,656
Amortization of issuance costs on long-term debt 6,599 6,490
Gain on debt extinguishment (44,686) 0
Changes in operating assets and liabilities:    
Accounts receivable 6,627 5,586
Prepaid expenses and other current assets (99) (7,837)
Deposits and other assets (321) (8,314)
Accounts payable and accrued expenses (8,005) (8,880)
Accrued compensation and employee benefits (15,186) (13,105)
Accrued interest 7,539 9,901
Deferred revenue and advance payments 9,901 25,401
Operating lease liabilities (7,954) (7,390)
Other long-term liabilities 203 150
Net cash provided by operating activities 11,528 21,409
Investing activities:    
Purchases of digital assets (687,959) (231,478)
Purchases of property and equipment (2,591) (1,851)
Net cash used in investing activities (690,550) (233,329)
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 (214)
Repayments of other long-term secured debt (382) (121)
Proceeds from sale of common stock under public offerings 823,945 0
Issuance costs paid related to sale of common stock under public offerings (4,286) 0
Proceeds from exercise of stock options 14,217 1,332
Payment of withholding tax on vesting of restricted stock units (1,391) (1,105)
Net cash provided by financing activities 676,025 220,051
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (997) (5,597)
Net (decrease) increase in cash, cash equivalents, and restricted cash (3,994) 2,534
Cash, cash equivalents, and restricted cash, beginning of period 50,868 64,434
Cash, cash equivalents, and restricted cash, end of period 46,874 66,968
Employee Stock Purchase Plan    
Financing activities:    
Proceeds from sales under employee stock purchase plan $ 3,955 $ 4,473