v3.24.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Total revenues $ 387,508 $ 117,753 $ 159,163
Cost of revenues      
Cost of revenues - energy, hosting and other (223,338) (72,715) (27,492)
Cost of revenues - depreciation and amortization (179,513) (78,709) (14,904)
Total cost of revenues (402,851) (151,424) (42,396)
Operating expenses      
General and administrative expenses (95,230) (56,739) (174,356)
Gains (losses) on digital assets and digital assets loan receivable 331,484 (14,460) 2,157
Legal reserves 0 (26,131) 0
Impairment of deposits due to vendor bankruptcy filing 0 (24,661) 0
Impairment of digital assets 0 (182,891) (22,252)
Impairment of patents 0 (919) 0
Impairment of mining equipment and advances to vendors 0 (332,933) 0
Gain on sale of equipment, net of disposals 0 83,879 0
Gains (losses) on digital assets held within investment fund 0 (85,017) 74,696
Total operating expenses 236,254 (639,872) (119,755)
Operating income (loss) 220,911 (673,543) (2,988)
Net gain from extinguishment of debt 82,267 0 0
Loss on hedge instruments (17,421) 0 0
Equity in net earnings of unconsolidated affiliate (617) 0 0
Impairment of loan and investment due to vendor bankruptcy filing 0 (31,013) 0
Interest expense (10,350) (14,981) (1,569)
Other non-operating income (loss) 2,809 1,283 (288)
Income (loss) before income taxes 277,599 (718,254) (4,845)
Income tax benefit (expense) (16,426) 24,232 (24,968)
Net income (loss) 261,173 (694,022) (29,813)
Series A preferred stock accretion to redemption value (2,121) 0 0
Net income (loss) attributable to common stockholders $ 259,052 $ (694,022) $ (29,813)
Net income (loss) per share of common stock - basic (in dollars per share) $ 1.41 $ (6.12) $ (0.30)
Weighted average shares of common stock - basic (in shares) 183,855,570 113,467,837 99,337,587
Net income (loss) per share of common stock - diluted (in dollars per share) $ 1.06 $ (6.12) $ (0.30)
Weighted average shares of common stock - diluted (in shares) 192,293,277 113,467,837 99,337,587
Other comprehensive income (loss)      
Series A preferred stock accretion to redemption value $ 2,121 $ 0 $ 0
Foreign currency translation adjustments 0 0 (451)
Comprehensive income (loss) $ 261,173 $ (694,022) $ (30,264)

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