XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income (loss) $ (2,249) $ (14,563)
Adjustments to reconcile net loss to cash used in operating activities:    
Unrealized gain on investment in equity securities (4,093) 0
Depreciation and amortization 5,374 4,428
Share-based compensation 2,369 1,960
Impairment of property and equipment 860 0
Change in fair value of Bitcoin (695) 0
Loss on disposal of property and equipment 691 566
Bitcoin issued for services 538 1,263
Realized gain on sale of investment in equity securities (3,395) 0
Change in fair value of warrant liabilities (173) (1,371)
Impairment of Intangible Assets, Finite-Lived 0 1,231
Warrants issued with convertible debt 0 976
Realized gain on sale of Bitcoin 0 (908)
Impairment of Bitcoin 0 549
Gain (Loss) on Extinguishment of Debt 0 63
Noncash lease cost 0 40
Changes in operating assets and liabilities:    
Proceeds from sale of Bitcoin 13,529 12,958
Mining of Bitcoin (13,967) (12,592)
Accounts receivable 0 10
Accounts payable and accrued liabilities (1,567) 1,336
Accrued payroll and employee compensation (100) 48
Other assets and liabilities, net (186) (2,018)
Net cash used in operating activities (3,064) (6,024)
Investing activities:    
Proceeds from sale of investment in equity securities 10,538 0
Payments for purchase of property and equipment (4,632) (1,561)
Proceeds from sale of Bitcoin 1,522 0
Proceeds from sale of property and equipment 0 4,111
Redemption of non-controlling interest 0 (10,410)
Proceeds from Redemption of Cash in Trust Account 0 10,297
Net cash provided by (used in) investing activities 7,428 2,437
Financing Activities [Abstract]    
Proceeds from Issuance of Preferred Shares, net 0 3,048
Payments for convertible debt 0 (1,285)
Proceeds from convertible debt, net of debt issuance costs 0 779
Proceeds from exercise of stock options 0 317
Net cash provided by financing activities 0 2,859
Net increase (decrease) in cash, cash equivalents and restricted cash 4,364 (728)
Cash, cash equivalents and restricted cash, beginning of period 586 1,543
Cash, cash equivalents and restricted cash, end of period 4,950 815
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets:    
Cash and cash equivalents 4,950 613
Restricted cash 0 202
Total cash, cash equivalents and restricted cash 4,950 815
Supplemental disclosures of non-cash investing activities:    
Settlement of prepaid hosting services deposit with equity securities 10,000 0
Capital Expenditures Incurred but Not yet Paid 404 0
Fair value of shares issued 255 0
Remeasurement of redeemable non-controlling interest 0 412
Issuance of Preferred Stock and Warrants, Accrued Expense $ 0 $ 34