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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of reportable segments and operating income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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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