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Segment Information | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Information | Note 19. Segment Information The Company has three reportable segments: Bitcoin Mining, Data Center Hosting, and Engineering. The reportable segments are identified based on the types of service performed. The chief operating decision maker (“CODM”) analyzes the performance of the segments based on reportable segment revenue and reportable segment cost of revenue. No operating segments have been aggregated to form the reportable segments. The Company does not allocate all assets to the reporting segments as they are managed on an entity-wide basis. Therefore, the Company does not separately disclose the total assets of its reportable operating segments. The Bitcoin Mining segment generates revenue from the Bitcoin the Company earns through its Bitcoin mining activities. The Data Center Hosting segment generates revenue from long-term customer contracts for the provision of data center hosting/colocation services, including from the consumption of electricity, construction of infrastructure, operation of data centers, and maintenance/management of computing capacity from the Company’s high performance data center facility in Rockdale, Texas. The Engineering segment generates revenue through customer contracts for custom engineered electrical products. The Data Center Hosting segment purchases custom engineered electrical products from the Engineering segment in the ordinary course of business. All revenue and cost of revenues from intersegment transactions have been eliminated in the consolidated statements of operations. All Other revenue is from external customers. During the three and six months ended June 30, 2023 and 2022, no single customer or related group of customers contributed 10% or more of the Company’s total consolidated revenue. The following table presents revenue and cost of revenues for the Company’s reportable segments, reconciled to the Condensed Consolidated Statements of Operations: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Reportable segment revenue: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Bitcoin Mining | ​ | $ | 49,742 | ​ | $ | 46,151 | ​ | $ | 97,765 | ​ | $ | 104,096
Data Center Hosting | ​ |  | 39,387 | ​ |  | 23,577 | ​ |  | 76,383 | ​ |  | 44,616
Engineering | ​ |  | 20,183 | ​ |  | 19,512 | ​ |  | 41,539 | ​ |  | 34,750
Other revenue | ​ |  | 24 | ​ |  | 24 | ​ |  | 48 | ​ |  | 48
Eliminations | ​ |  | (32,597) | ​ |  | (16,317) | ​ |  | (65,760) | ​ |  | (30,776)
Total segment and consolidated revenue | ​ | $ | 76,739 | ​ | $ | 72,947 | ​ | $ | 149,975 | ​ | $ | 152,734
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable segment cost of revenues: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Bitcoin Mining | ​ |  | 33,482 | ​ |  | 20,913 | ​ |  | 62,173 | ​ |  | 44,844
Data Center Hosting | ​ |  | 44,026 | ​ |  | 26,012 | ​ |  | 90,847 | ​ |  | 47,504
Engineering | ​ |  | 18,932 | ​ |  | 16,983 | ​ |  | 37,818 | ​ |  | 30,535
Eliminations | ​ |  | (32,477) | ​ |  | (15,554) | ​ |  | (63,753) | ​ |  | (28,901)
Total segment and consolidated cost of revenues | ​ | $ | 63,963 | ​ | $ | 48,354 | ​ | $ | 127,085 | ​ | $ | 93,982
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciling Items: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Acquisition-related costs | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (78)
Selling, general, and administrative | ​ |  | (19,836) | ​ |  | (10,713) | ​ |  | (32,511) | ​ |  | (21,545)
Depreciation and amortization | ​ |  | (66,162) | ​ |  | (20,562) | ​ |  | (125,502) | ​ |  | (34,807)
Change in fair value of derivative asset | ​ |  | 13,109 | ​ |  | 60,931 | ​ |  | 7,331 | ​ |  | 104,614
Power curtailment credits | ​ | ​ | 13,470 | ​ | ​ | 5,706 | ​ | ​ | 16,545 | ​ | ​ | 8,258
Change in fair value of contingent consideration | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (176)
Realized gain on sale of Bitcoin | ​ |  | 19,828 | ​ |  | 15,260 | ​ |  | 33,603 | ​ |  | 24,925
Gain (loss) on sale/exchange of equipment | ​ | ​ | (30) | ​ | ​ | 8,614 | ​ | ​ | (30) | ​ | ​ | 8,614
Casualty-related charges (recoveries), net | ​ |  | — | ​ |  | — | ​ |  | (1,526) | ​ |  | —
Impairment of Bitcoin | ​ | ​ | (5,638) | ​ | ​ | (101,419) | ​ | ​ | (10,110) | ​ | ​ | (127,289)
Impairment of goodwill | ​ |  | — | ​ |  | (335,648) | ​ |  | — | ​ |  | (335,648)
Interest income (expense) | ​ |  | 4,843 | ​ |  | — | ​ |  | 1,013 | ​ |  | (357)
Realized loss on sale of marketable equity securities | ​ |  | — | ​ |  | (1,624) | ​ |  | — | ​ |  | (1,624)
Unrealized loss on marketable equity securities | ​ |  | — | ​ |  | (4,837) | ​ |  | — | ​ |  | (6,448)
Other income (expense) | ​ |  | 65 | ​ |  | (59) | ​ |  | 65 | ​ |  | (59)
Current income tax benefit (expense) | ​ | ​ | (112) | ​ | ​ | (427) | ​ | ​ | (188) | ​ | ​ | (739)
Deferred income tax benefit (expense) | ​ |  | — | ​ |  | 6,626 | ​ |  | 5,045 | ​ |  | 6,626
Net income (loss) | ​ | $ | (27,687) | ​ | $ | (353,559) | ​ | $ | (83,375) | ​ | $ | (316,981)
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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