Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Cash Flows (Unaudited)

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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss $ (75,422,407) $ (22,172,567) $ (280,027,638) $ (47,700,445)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     64,881,323 8,015,801  
Amortization of prepaid service contract     22,781,073  
Gain on sale of assets, net of disposals     (90,115,824) (8,571)  
Deferred tax expense     (200,163)  
Realized and unrealized losses (gains) on digital currencies held in fund (42,086,907) 85,016,208 (59,410,028)  
Impairment of digital currencies     153,045,376 18,472,750  
Stock based compensation     18,877,144 152,335,353  
Amortization of bond issuance costs     2,956,016  
Impairment of patents     919,363  
Impairment of assets related to vendor bankruptcy filing     39,000,000  
Other adjustments from operations, net     897,837 365,026  
Changes in operating assets and liabilities:          
Digital currencies     (89,329,986) (90,124,117)  
Deposits     (13,629,429)  
Prepaid expenses and other assets     (30,583,448) (28,700,147)  
Accounts payable and accrued expenses     8,093,640 2,518,805  
Legal reserve payable     21,199,549  
Accrued interest     1,976,351 (121,596)  
Net cash used in operating activities     (84,242,608) (44,357,170)  
CASH FLOWS FROM INVESTING ACTIVITIES          
Advances to vendors     (482,097,485) (191,543,484)  
Purchase of property and equipment     (19,829,237) (30,737,688)  
Sales of property and equipment     177,370,765  
Purchase of digital currencies in fund     (150,000,000)  
Purchase of equity investments     (43,999,820)  
Sale of digital currencies in investment fund     482,872 500,715  
Net cash used in investing activities     (368,072,905) (371,780,457)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from issuance of common stock, net of issuance costs     198,701,502 312,196,846  
Proceeds from term loan borrowings, net of issuance costs     49,250,000  
Value of shares withheld for taxes     (52,426) (4,688,065)  
Proceeds received on exercise of options and warrants     160,162  
Net cash provided by financing activities     247,899,076 307,668,943  
Net decrease in cash, cash equivalents and restricted cash     (204,416,437) (108,468,684)  
Cash, cash equivalents and restricted cash — beginning of period     268,555,837 141,322,776 $ 141,322,776
Cash, cash equivalents and restricted cash — end of period $ 64,139,400 $ 32,854,092 64,139,400 32,854,092 $ 268,555,837
Supplemental cash flow information:          
Interest paid     5,382,292  
Supplemental schedule of non-cash investing and financing activities:          
Options exercised into common stock     3  
Operating lease assets obtained in exchange for new operating lease liabilities     1,538,573  
Digital currencies transferred from fund     137,843,761    
Unpaid proceeds from sale of property & equipment     1,000,000  
Reclassifications from advances to vendor to property and equipment upon receipt of equipment     260,574,908 53,932,636  
Common stock issued for service and license agreements     $ 4,579,999 $ 11,134,839