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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of restated consolidated statements

	​	​	2020	​	​	2020	​	​	2020
In thousands of USD	​	​	As previously reported	​	​	Effect of adjustment – sale of mining machines	​	​	As restated
Revenue	​	​	168,850	​	​	17,537	​	​	186,387
Cost of revenue	​	​	(192,027)	​	​	(17,537)	​	​	(209,564)

Restated consolidated statements of cash flows

	​	​	2020	​	​	2020	​	​	2020
In thousands of USD	​	​	As previously reported	​	​	Effect of adjustment— sale of mining machines	​	​	As restated
Cash flows from operating activities	​	​	(124,395)	​	​	15,219	​	​	(109,176)
Cash flows from investing activities	​	​	77,961	​	​	(15,219)	​	​	62,742

	​	​	2021	​	​	2021	​	​	2021
In thousands of USD	​	​	As previously reported	​	​	Effect of adjustment— disposal of cryptocurrencies	​	​	As restated
Cash flows from operating activities	​	​	454,656	​	​	(507,122)	​	​	(52,466)
Cash flows from investing activities	​	​	(112,553)	​	​	507,122	​	​	394,569

Summary of expected useful lives of Property, plant and equipment

•	​	​	Buildings	​	​	20 years
•	​	​	Land	​	​	Unlimited
•	​	​	Machinery	​	​	3 – 10 years
•	​	​	Electronic equipment	​	​	3 – 7 years
•	​	​	Leasehold improvements	​	​	3 years

Schedule of Estimated Useful Life of Investment Property

•	​	​	Buildings	​	​	15 years
•	​	​	Leasehold land	​	​	15 years
•	​	​	Machinery, fixtures as part of the buildings	​	​	3 – 8 years

Schedule of contracts with customers, Revenue

The Group derives revenues in the following major categories:

	​	​	Periods ended June 30,
In thousands of USD	​	​	2022	​	​	2023
Self-mining business	​	​	41,010	​	​	34,713
Cloud hash rate	​	​		​	​
Hash rate subscription	​	​	46,861	​	​	21,877
Electricity subscription	​	​	24,583	​	​	13,994
Additional consideration from acceleration plan arrangements	​	​	3,449	​	​	168
Sales of mining machines	​	​	442	​	​	2
Cloud hosting arrangements(2)	​	​	6,787	​	​	1,805
Membership hosting	​	​	—	​	​	40,435
General hosting	​	​	53,000	​	​	49,911
Others(1)	​	​	3,487	​	​	3,498
Total revenues	​	​	179,619	​	​	166,403

(1)
Others include revenue generated primarily from providing technical and human resources service, repairment services of hosted mining machines, lease of investment properties, and the sale of mining machine peripherals. 

(2)
The Group did not generate any revenue from the additional consideration from Cloud Hosting arrangements offered under accelerator mode for the periods ended June 30, 2022 and 2023.

Details of revenues for each category are as follows:

	​	​	Years ended December 31,
	​	​	2020	​	​	2021	​	​	2022
In thousands of USD	​	​	(Restated)	​	​		​	​
Self-mining	​	​	88,493	​	​	191,693	​	​	62,359
Cloud hash rate	​	​		​	​		​	​
Hash rate subscription	​	​	31,389	​	​	53,952	​	​	77,862
Electricity subscription	​	​	45,242	​	​	35,113	​	​	39,525
Additional consideration from Cloud Hash Rate arrangements under acceleration mode	​	​	1,657	​	​	35,140	​	​	3,954
Sales of mining machines	​	​	15,844	​	​	45,693	​	​	705
Cloud hosting arrangements(2)	​	​	2,929	​	​	7,568	​	​	12,723
General hosting	​	​	—	​	​	18,312	​	​	99,251
Membership hosting	​	​	—	​	​	—	​	​	26,056
Others(1)	​	​	833	​	​	7,190	​	​	10,907
Total revenues	​	​	186,387	​	​	394,661	​	​	333,342

(1)
Others include revenue generated primarily from providing technical and human resources service, repairment services of hosted mining machines, lease of investment properties, and the sale of mining machine peripherals.

(2)
The Group did not generate any revenue from the additional consideration from Cloud Hosting arrangements offered under accelerator mode for the years ended December 31, 2020, 2021 and 2022.

Schedule of disaggregated revenue data by geographical region

Disaggregated revenue data by geographical region in terms of the customer’s location within the operating segment is as follows:

	​	​	Periods ended June 30,
In thousands of USD	​	​	2022	​	​	2023
Singapore	​	​	5,167	​	​	12,073
Asia, excluding Singapore	​	​	97,630	​	​	47,458
North America	​	​	59,658	​	​	100,118
Europe	​	​	11,251	​	​	5,194
Others	​	​	5,913	​	​	1,560
Total	​	​	179,619	​	​	166,403

Selected assets of mining machines, property plant and equipment, investment properties, right-of-use assets and intangible assets by geographical region within the operating segment is as follows:

In thousands of USD	​	​	At December 31, 2022	​	​	At June 30, 2023
Singapore	​	​	46,306	​	​	48,599
Asia, excluding Singapore	​	​	—	​	​	21,996
North America	​	​	170,439	​	​	167,035
Europe	​	​	45,540	​	​	48,206
Total	​	​	262,285	​	​	285,836

	​	​	Years ended December 31,
	​	​	2020	​	​	2021	​	​	2022
In thousands of USD	​	​	(Restated)	​	​		​	​
Singapore	​	​	90,808	​	​	79,537	​	​	27,591
Asia, excluding Singapore	​	​	57,146	​	​	211,805	​	​	136,901
North America	​	​	24,063	​	​	75,559	​	​	141,174
Europe	​	​	7,755	​	​	15,487	​	​	19,075
Others	​	​	6,615	​	​	12,273	​	​	8,601
Total	​	​	186,387	​	​	394,661	​	​	333,342

	​	​	At December 31,
	​	​	2021	​	​	2022
Singapore	​	​	7,481	​	​	46,306
North America	​	​	181,864	​	​	170,439
Europe	​	​	18,797	​	​	45,540
Total	​	​	208,142	​	​	262,285

Schedule of new standards and interpretations

Standard/Interpretation	​	​	Application Date of Standard	​	​	Application Date for the Group
Amendments to IFRS 1, Subsidiary as a First-time Adopter	​	​	January 1, 2022	​	​	January 1, 2022
Amendments to IFRS 9, Derecognition of Financial Liabilities	​	​	January 1, 2022	​	​	January 1, 2022
Amendments to IFRS 3, Reference to the Conceptual Framework	​	​	January 1, 2022	​	​	January 1, 2022
Amendments to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use	​	​	January 1, 2022	​	​	January 1, 2022
Amendments to IAS 37, Onerous Contracts – Cost of Fulfilling a Contract	​	​	January 1, 2022	​	​	January 1, 2022

Standard/Interpretation	​	​	Application Date for the Group
IFRS 17, Insurance Contracts and Amendments to Address Concerns and Implementation Challenges	​	​	January 1, 2023
Amendments to IFRS 4, Expiry Date of the Deferral Approach	​	​	January 1, 2023
Amendments to IAS 1, Making Materiality Judgement	​	​	January 1, 2023
Amendments to IAS 1 and IFRS Practice Statement 2, Disclosure of Accounting Policies	​	​	January 1, 2023
Amendments to IAS 8, Definition of Accounting Estimates	​	​	January 1, 2023
Amendments to IAS 12, Deferred Tax related to Assets and Liabilities arising from a Single Transaction	​	​	January 1, 2023
Initial Application of IFRS 17 and IFRS 9—Comparative Information	​	​	January 1, 2023
Amendments to IAS 1, Classification of Liabilities as Current or Non-current and Disclosure of Accounting Policies	​	​	January 1, 2024
Amendments to IAS 1, Classification of Debt with Covenants	​	​	January 1, 2024
Amendments to IFRS 16, Subsequent Measurement of Sale and Leaseback Transactions by a Seller-lessee	​	​	January 1, 2024

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