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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of Property and Equipment

Property and equipment, net consisted of the following (amounts in thousands):

		September 30, 2022				December 31, 2021
Office and computer equipment		$	88			$	60
Software			392				-
Furniture and fixtures			69				-
Miners and mining equipment			26				-
Construction-in-progress			40,192				5,069
Total cost of property and equipment			40,767				5,129
Less: accumulated depreciation			(16	)			(5	)
Property and equipment, net		$	40,751			$	5,124

Schedule of Reconciliation of Numerator and Denominator of the Diluted Net Income (Loss) Per Share

The following is a reconciliation of the numerator and denominator of the diluted net income (loss) per share computations for the periods indicated below:

		Three Months Ended September 30,								Nine Months Ended				Eight Months Ended
		2022				2021				September 30, 2022				September 30, 2021
Basic and diluted income (loss) per share:
Net income (loss)		$	59,292			$	(2,421	)		$	12,574			$	(3,082	)
Weighted average shares outstanding - basic			247,508,745				217,644,991				248,461,373				206,708,013
Add:
RSUs			833,455				-				321,292				-
Weighted average shares outstanding - diluted			248,342,200				217,644,991				248,782,665				206,708,013
Net income (loss) per share - basic		$	0.24			$	(0.01	)		$	0.05			$	(0.01	)
Net income (loss) per share - diluted		$	0.24			$	(0.01	)		$	0.05			$	(0.01	)

Computation of Diluted Net Income (Loss) Per Common Share

The following table presents the common shares that are excluded from the computation of diluted net income (loss) per common share at September 30, 2022 and September 30, 2021, because including them would have been antidilutive.

		September 30, 2022				September 30, 2021
Public Warrants			8,499,980				8,500,000
Private Placement Warrants			114,000				114,000
Unvested RSUs			15,364,457				-
			23,978,437				8,614,000

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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