XML 51 R40.htm IDEA: XBRL DOCUMENT v3.23.2
SCHEDULE OF CHANGE IN ACCOUNTING PRINCIPLE FOR CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss $ (19,133) $ (212,626) $ (17,109) $ (26,368) $ (229,735)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     13,877 55,008 38,587
Amortization of prepaid service contract     4,662 15,533
Deferred tax benefit     (5,674) 278 5,183
Losses on digital assets held within Investment Fund     5,328 85,017
Losses on digital assets loan receivable     461    
Impairment of digital assets     23,317 14,514 154,897
Stock-based compensation     9,275 8,396 15,451
Amortization of debt issuance costs     971 1,942 1,942
Impairment of patents 919 919
Other adjustments from operations, net     (215) 1,131 508
Changes in operating assets and liabilities:          
Revenues from digital asset production     (51,874) (132,891) (76,449)
Deposits     (6,287) (19,325) (5,548)
Prepaid expenses and other assets     (4,889) (6,963) (2,120)
Accounts payable and accrued expenses     (667) 2,434 (5,214)
Accrued interest     1,843 (388) (244)
Net cash used in operating activities     (26,062) (142,868) (40,873)
CASH FLOWS FROM INVESTING ACTIVITIES          
Advances to vendors     (192,391) (61,834) (393,991)
Purchase of property and equipment     (6,534) (23,316) (13,752)
Purchase of equity investments     (10,500) (14,000)
Net cash used in investing activities     (209,425) (33,951) (334,520)
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from issuance of common stock, net of issuance costs     85,473 228,833 161,042
Net cash provided by financing activities     85,473 192,275 195,998
Net increase (decrease) in cash, cash equivalents and restricted cash     (150,014) 15,456 (179,395)
Cash, cash equivalents and restricted cash — beginning of period   118,542 268,556 112,505 268,556
Cash, cash equivalents and restricted cash — end of period $ 127,961 89,161 118,542 $ 127,961 89,161
Previously Reported [Member]          
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss     (12,851)    
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     13,877    
Amortization of prepaid service contract     4,662    
Deferred tax benefit     (4,262)    
Losses on digital assets held within Investment Fund     5,328    
Losses on digital assets loan receivable     461    
Impairment of digital assets     17,647    
Stock-based compensation     9,275    
Amortization of debt issuance costs     971    
Impairment of patents     919    
Other adjustments from operations, net     (215)    
Changes in operating assets and liabilities:          
Revenues from digital asset production     (51,874)    
Deposits     (6,287)    
Prepaid expenses and other assets     (4,889)    
Accounts payable and accrued expenses     (667)    
Accrued interest     1,843    
Net cash used in operating activities     (26,062)    
CASH FLOWS FROM INVESTING ACTIVITIES          
Advances to vendors     (192,391)    
Purchase of property and equipment     (6,534)    
Purchase of equity investments     (10,500)    
Net cash used in investing activities     (209,425)    
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from issuance of common stock, net of issuance costs     85,473    
Net cash provided by financing activities     85,473    
Net increase (decrease) in cash, cash equivalents and restricted cash     (150,014)    
Cash, cash equivalents and restricted cash — beginning of period   118,542 268,556   268,556
Cash, cash equivalents and restricted cash — end of period     118,542    
Revision of Prior Period, Adjustment [Member]          
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss     (4,258)   (8,417)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization        
Amortization of prepaid service contract        
Deferred tax benefit     (1,412)    
Losses on digital assets held within Investment Fund        
Losses on digital assets loan receivable        
Impairment of digital assets     5,670    
Stock-based compensation        
Amortization of debt issuance costs        
Impairment of patents        
Other adjustments from operations, net        
Changes in operating assets and liabilities:          
Revenues from digital asset production        
Deposits        
Prepaid expenses and other assets        
Accounts payable and accrued expenses        
Accrued interest        
Net cash used in operating activities        
CASH FLOWS FROM INVESTING ACTIVITIES          
Advances to vendors        
Purchase of property and equipment        
Purchase of equity investments        
Net cash used in investing activities        
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from issuance of common stock, net of issuance costs        
Net cash provided by financing activities        
Net increase (decrease) in cash, cash equivalents and restricted cash        
Cash, cash equivalents and restricted cash — beginning of period    
Cash, cash equivalents and restricted cash — end of period