Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Cash Flows (Unaudited)

v3.21.1
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 83,356,742 $ (1,057,932)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 720,142 510,781  
Amortization of patents and website 17,794 17,794  
Amortization of prepaid service contract 561,000  
Realized gain (loss) on sale of digital currencies 54 4,221  
Change in fair value of warrant liability 1,591,895 (9,786)  
Change in fair value of mining payable 66,548 $ 66,547
Change in fair value of investment securities (131,822,950)  
Impairment of cryptocurrencies 662,199
Stock based compensation 51,031,595 23,238  
Loss on cancellation of lease 80,809  
Amortization of right-of-use assets 16,597 24,114  
Changes in operating assets and liabilities:      
Other receivables (117,811)  
Digital currencies (9,152,816) (474,676)  
Lease liability (18,701) (24,365)  
Prepaid expenses and other assets (113,847) (108,324)  
Accounts payable and accrued expenses (13,775) 73,961  
Net cash used in operating activities (3,083,261) (1,072,237)  
CASH FLOWS FROM INVESTING ACTIVITIES      
Sale of digital currencies 16,000 468,703  
Purchase of investment securities (150,000,000)  
Purchase of property and equipment (25,456,714)  
Deposits for the purchase of mining servers (63,221,724) (65,647,592)
Net cash (used in) provided by investing activities (238,662,438) 468,703  
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of common stock/At-the-market offering 327,103,650 401,891  
Offering costs for the issuance of common stock/At-the-market offering (14,906,805) (16,774)  
Proceeds received on exercise of warrants 160,164  
Net cash provided by financing activities 312,357,009 385,117  
Net increase (decrease) in cash and cash equivalents 70,611,310 (218,417)  
Cash and cash equivalents - beginning of period 141,322,776 692,963 692,963
Cash and cash equivalents - end of period 211,934,086 474,546 $ 141,322,776
Supplemental schedule of non-cash investing and financing activities:      
Common stock issued for purchase of mining servers 171,622  
Reduction of share commitment for purchase of mining servers 408,625  
Options exercised into common stock $ 2