XML 35 R14.htm IDEA: XBRL DOCUMENT

ADVANCES TO VENDORS AND DEPOSITS	12 Months Ended
ADVANCES TO VENDORS AND DEPOSITS	Dec. 31, 2024
Advances To Vendors And Deposits
ADVANCES TO VENDORS AND DEPOSITS	ADVANCES TO VENDORS AND DEPOSITS The Company contracts with bitcoin mining equipment manufacturers to procure equipment necessary for the operation of its bitcoin mining operations. These agreements typically require a certain percentage of the value of the total order to be paid in advance at specific intervals, usually within several days of execution of a contract and periodically thereafter with final payments due prior to each shipment date. The Company accounts for these payments as “Advances to vendors” on the Consolidated Balance Sheets. As of December 31, 2024 and 2023, such advances totaled approximately $121.3 million and $95.6 million, respectively. In addition, the Company contracts with various service providers for hosting of its equipment, operational support in data centers where the Company’s equipment is deployed and construction of data centers on leased sites. These contracts typically require advance payments to service providers in conjunction with the contractual obligations associated with these services. Additionally, when applicable, funds related to a surety bond are included. The Company classifies these payments as “Deposits” and “Long-term deposits” on the Consolidated Balance Sheets. As of December 31, 2024 and 2023, such deposits totaled approximately $259.4 million and $67.0 million, respectively.