Summary of Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Activities of Digital Currencies |
The following table presents the activities of the
digital currencies for the three months ended March 31, 2021:
| Digital currencies at December 31, 2020 |
|
$ |
2,271,656 |
|
| Additions of digital currencies |
|
|
9,152,816 |
|
| Realized gain on sale of digital currencies |
|
|
(54 |
) |
| Impairment of cryptocurrencies |
|
|
(662,199 |
) |
| Sale of digital currencies |
|
|
(16,000 |
) |
| Digital currencies at March 31, 2021 |
|
$ |
10,746,219 |
|
|
| Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following tables present information about the
Company’s assets and liabilities measured at fair value on a recurring basis and the Company’s estimated level within the
fair value hierarchy of those assets and liabilities as of March 31, 2021 and December 31, 2020, respectively:
| |
|
Fair value measured at March 31, 2021 |
|
| |
|
Total carrying value at March 31, |
|
|
Quoted prices in active markets |
|
|
Significant other observable inputs |
|
|
Significant unobservable inputs |
|
| |
|
2021 |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Fund |
|
$ |
281,822,950 |
|
|
$ |
281,822,950 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrant liability |
|
$ |
1,914,333 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,914,333 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Fair value measured at December 31, 2020 |
|
| |
|
|
Total carrying value at December 31, |
|
|
|
Quoted prices in active markets |
|
|
|
Significant other observable inputs |
|
|
|
Significant unobservable inputs |
|
| |
|
|
2020 |
|
|
|
(Level 1) |
|
|
|
(Level 2) |
|
|
|
(Level 3) |
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrant liability |
|
$ |
322,437 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
322,437 |
|
|
| Schedule of Fair Value of Warrant Liabilities |
| |
|
Fair value |
|
| Outstanding as of December 31, 2020 |
|
$ |
322,437 |
|
| Change in fair value of warrants |
|
|
1,591,896 |
|
| Outstanding as of March 31, 2021 |
|
$ |
1,914,333 |
|
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Computation of potential shares for the diluted earning
(loss) per share calculation at March 31, 2021 and 2020 are as follows:
| |
|
As of March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Warrants to purchase common stock |
|
|
448,790 |
|
|
|
164,222 |
|
| Options to purchase common stock |
|
|
81,120 |
|
|
|
1,727,682 |
|
| Convertible notes to exchange common stock |
|
|
- |
|
|
|
1,248,883 |
|
| Total |
|
|
529,910 |
|
|
|
3,140,787 |
|
|
| Schedule of Computation of Basic and Diluted Loss Per Share |
The following table sets forth the computation of
basic and diluted loss per share:
| |
|
For the Three Months Ended March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Net income (loss) attributable to common shareholders |
|
$ |
83,356,742 |
|
|
$ |
(1,057,931 |
) |
| |
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
| Weighted average common shares - basic |
|
|
94,350,216 |
|
|
|
8,655,525 |
|
| Weighted average common shares - diluted |
|
|
96,251,240 |
|
|
|
8,655,525 |
|
| Income (loss) per common share - basic |
|
$ |
0.88 |
|
|
$ |
(0.12 |
) |
| Income (loss) per common share - diluted |
|
$ |
0.87 |
|
|
$ |
(0.12 |
) |
|