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Fair Value Hierarchy (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Dec. 31, 2023
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | As of June 30, 2024, the fair value of the warrant liability measured on a recurring basis was as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Warrant Liability |  | $ | — |  |  | $ | — |  |  | $ | 454 |  |  | $ | 454 |
As of December 31, 2023, the fair value of the warrant liability measured on a recurring basis was as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Warrant Liability |  | $ | — |  |  | $ | — |  |  | $ | 3,838 |  |  | $ | 3,838 |
| As of December 31, 2023 , the fair value of the warrant liability measured on a recurring basis was as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Warrant Liability |  | $ | — |  |  | $ | — |  |  | $ | 3,838 |  |  | $ | 3,838 |
As of December 31, 2022, the fair value of the warrant liability measured on a recurring basis was as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Warrant Liability |  | $ | — |  |  | $ | — |  |  | $ | 76,423 |  |  | $ | 76,423 |
Schedule of Quoted Prices |
Date |  | Adit/GRIID Share Price |
October 9, 2022 |  | $ | 9.91 |
December 31, 2022 |  | $ | 10.11 |
December 31, 2023 |  | $ | 5.38 |
March 31, 2024 |  | $ | 1.32 |
June 30, 2024 |  | $ | 1.06 |
Date |  | Adit/GRIID Share Price |
October 9, 2022 |  | $ | 9.91 |
December 31, 2022 |  | $ | 10.11 |
December 31, 2023 |  | $ | 5.38 |
Summary of Changes in Fair Value | A summary of the changes in the Company’s warrant liability measured at fair value using significant unobservable inputs (Level 3) as of June 30, 2024 and December 31, 2023, respectively:
Warrant liability as of December 31, 2023 |  | $ | 3,838 |
Change in fair value |  |  | (3,384 | )
Warrant liability as of June 30, 2024 |  | $ | 454 |
| A summary of the changes in the Company’s warrant liability measured at fair value using significant unobservable inputs (Level 3) as of December 31, 2023 and 2022, respectively:
Warrant liability as of December 31, 2021 |  | $ | 29,820 |
Issuance of warrants |  |  | 57,133 |
Gain on termination of warrant |  |  | (139 | )
Modification of warrants |  |  | 5,379 |
Change in fair value |  |  | (15,770 | )
Warrant liability as of December 31, 2022 |  |  | 76,423 |
Change in fair value |  |  | (59,662 | )
Issuance of warrants |  |  | 15,315 |
Extinguishment of debt |  |  | 25,081 |
Conversion to common stock |  |  | (65,664 | )
Interest recorded on warrants issued |  |  | 12,345 |
Warrant liability as of December 31, 2023 |  | $ | 3,838 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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