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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2022
Accounting Policies [Abstract] |
Schedules of Concentration Risk | The following table sets forth our concentration of accounts receivable, net of specific allowances for doubtful accounts.
| September 30, 2022 |  | December 31, 2021
Customer A | 24 | % |  | — | %
Customer B | 15 | % |  | — | %
Customer C | 5 | % |  | 18 | %
Customer D | — | % |  | 20 | %
The following table sets forth our concentration of revenue sources as a percentage of total net revenues:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Customer B | 1 | % |  | 35 | % |  | 1 | % |  | 15 | %
Customer E | — | % |  | 8 | % |  | — | % |  | 14 | %
Schedule of Digital Assets | The following table sets forth our digital asset holdings as of September 30, 2022:
Asset | Gross Carrying Amount |  | Accumulated Digital Asset Impairment |  | Digital Asset Carrying Value |  |  |  |
Bitcoin | $ | 37,882 |  |  | $ | (26,295) |  |  | $ | 11,587 |  |  |  |  |
Ether | 3,175 |  |  | (2,471) |  |  | 704 |  |  |  |  |
Other | 1,223 |  |  | (897) |  |  | 326 |  |  |  |  |
Total | $ | 42,280 |  |  | $ | (29,663) |  |  | $ | 12,617 |  |  |  |  |
The following table sets forth our digital asset holdings as of December 31, 2021:
Asset | Gross Carrying Amount |  | Accumulated Digital Asset Impairment |  | Digital Asset Carrying Value |  |  |  |
Bitcoin | $ | 36,963 |  |  | $ | (8,554) |  |  | $ | 28,409 |  |  |  |  |
Ethereum | 4,714 |  |  | (670) |  |  | 4,044 |  |  |  |  |
Other | 287 |  |  | (159) |  |  | 128 |  |  |  |  |
Total | $ | 41,964 |  |  | $ | (9,383) |  |  | $ | 32,581 |  |  |  |  |
Accumulated digital asset impairment noted above represents impairment on the remaining cost lots as of the respective dates. Changes in our digital asset holdings for the nine months ended September 30, 2022 were as follows:
| Bitcoin |  | Ethereum |  | Other |  | Total |  |  |  |
Net balance at December 31, 2021 | $ | 28,409 |  |  | $ | 4,044 |  |  | $ | 128 |  |  | $ | 32,581 |  |  |  |  |
Received from customers, net of expenses | 28 |  |  | 376 |  |  | 25 |  |  | 429 |  |  |  |  |
Purchases of digital assets | 923 |  |  | — |  |  | — |  |  | 923 |  |  |  |  |
Exchanges of digital assets | — |  |  | (911) |  |  | 911 |  |  | — |  |  |  |  |
Other | 26 |  |  | 169 |  |  | — |  |  | 195 |  |  |  |  |
Impairment expense | (17,799) |  |  | (2,974) |  |  | (738) |  |  | (21,511) |  |  |  |  |
Net balance at September 30, 2022 | $ | 11,587 |  |  | $ | 704 |  |  | $ | 326 |  |  | $ | 12,617 |  |  |  |  |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table sets forth common stock equivalents that have been excluded from the computation of dilutive weighted average shares outstanding as their inclusion would have been anti-dilutive:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Convertible notes | — |  | 19,324 |  | — |  | 19,324
Warrants | 5,636,801 |  | 7,676,112 |  | 5,636,801 |  | 7,676,112
Options | 984,729 |  | 207,257 |  | 984,729 |  | 1,117,697
Restricted stock units | 3,353,776 |  | 3,807,154 |  | 3,353,776 |  | 3,807,154
Restricted shares | — |  | 574 |  | — |  | 574
Total | 9,975,306 |  | 11,710,421 |  | 9,975,306 |  | 12,620,861
Schedule of Financial Instruments Measured at Fair Value | Determining which category an asset or liability falls within the hierarchy requires significant judgment. Our financial instruments measured at fair value as of September 30, 2022 are set forth below:
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Digital assets | $ | 12,617 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,617 |
Total | $ | 12,617 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,617 |
Liabilities: |  |  |  |  |  |  |
Warrant liability | $ | — |  |  | $ | 338 |  |  | $ | — |  |  | $ | 338 |
Total | $ | — |  |  | $ | 338 |  |  | $ | — |  |  | $ | 338 |
Our financial instruments measured at fair value as of December 31, 2021 are set forth below:
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Digital assets | $ | 32,581 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,581 |
Total | $ | 32,581 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,581 |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Liabilities: |  |  |  |  |  |  |
Warrant liability | $ | — |  |  | $ | 3,605 |  |  | $ | — |  |  | $ | 3,605 |
Total | $ | — |  |  | $ | 3,605 |  |  | $ | — |  |  | $ | 3,605 |
Summary of Calculated Aggregate Fair Values and Assumptions | The following table sets forth the assumptions used to calculate the fair values of the liability classified warrant issued in connection with our 2020 Convertible Notes as of the dates presented:
| September 30, 2022 |  | December 31, 2021
Strike price per share | $ | 2.25 |  |  | $ | 2.25 |
Closing price per share | $ | 1.18 |  |  | $ | 2.63 |
Term (years) | 0.78 |  | 1.53
Volatility | 99 | % |  | 186 | %
Risk-free rate | 4.15 | % |  | 0.56 | %
Dividend Yield | — |  | —

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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