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REVENUES (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents the Company’s revenues disaggregated for those arrangements in which the Company is the Operator and Participant:
|  |  |  | Year Ended December 31,
(in thousands) |  |  |  |  |  | 2024 |  | 2023 |  | 2022
Revenues from contracts with customers |  |  |  |  |  |  |  |  |  |
Mining operator - transaction fees |  |  |  |  |  | $ | 32,884 |  |  | $ | 32,598 |  |  | $ | 5,231 |
Mining participant |  |  |  |  |  | 32,002 |  |  | 25,101 |  |  | 4,652 |
Hosting services (1) |  |  |  |  |  | 31,638 |  |  | — |  |  | — |
Total revenues from contracts with customers |  |  |  |  |  | 96,524 |  |  | 57,699 |  |  | 9,883 |
Mining operator - block rewards and other revenue |  |  |  |  |  | 559,854 |  |  | 329,809 |  |  | 107,870 |
Total revenues |  |  |  |  |  | $ | 656,378 |  |  | $ | 387,508 |  |  | $ | 117,753 |
(1) Includes revenue beginning January 12, 2024, the date of the GC Data Center Acquisition and November 5, 2024, the date of the Arkon Acquisition. The Company made a strategic decision to exit hosting services upon acquisition of the GC Data Center Acquisition. Intercompany transactions have been eliminated in consolidation. Refer to Note 3 - Acquisitions, for further information.

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