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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenue - bitcoin mining $ 24,102 $ 30,304 $ 109,047 $ 83,423
Costs and operating expenses (income)        
Cost of revenue 15,063 13,008 44,164 37,017
Compensation and benefits 14,738 17,071 44,058 41,676
General and administrative 8,919 6,827 23,362 20,977
Depreciation and amortization 28,636 16,217 66,131 42,284
Change in fair value of derivative asset 48,520 (4,744) 19,181 (13,294)
Power sales (1,444) (2,720) (3,726) (8,469)
Equity in (income) losses of equity investees (847) 1,998 (1,008) 4,179
Losses (gains) on fair value of bitcoin 1,911 1,848 (22,336) (3,276)
Other gains 0 (95) 0 (2,355)
Total costs and operating expenses 115,496 49,410 169,826 118,739
Operating loss (91,394) (19,106) (60,779) (35,316)
Other income (expense)        
Interest income 1,188 11 3,027 112
Interest expense (346) (627) (1,118) (1,513)
Change in fair value of warrant liability 0 10 250 (49)
Other expense (4) (6) (1,235) (18)
Total other income (expense) 838 (612) 924 (1,468)
Loss before taxes (90,556) (19,718) (59,855) (36,784)
Current income tax expense (211) (95) (932) (143)
Deferred income tax benefit (expense) 4,013 1,192 (1,358) 555
Total income tax benefit (expense) 3,802 1,097 (2,290) 412
Net loss $ (86,754) $ (18,621) $ (62,145) $ (36,372)
Loss per share - basic (in dollars per share) $ (0.26) $ (0.07) $ (0.20) $ (0.15)
Loss per share - diluted (in dollars per share) $ (0.26) $ (0.07) $ (0.20) $ (0.15)
Weighted average shares outstanding - basic (in shares) 332,680,037 251,789,350 314,820,110 249,858,033
Weighted average shares outstanding - diluted (in shares) 332,680,037 251,789,350 314,820,110 249,858,033