Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Operations (Unaudited)

v3.21.2
Consolidated Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Cryptocurrency mining revenue $ 29,321,857 $ 286,161 $ 38,474,672 $ 878,648
Total revenues 29,321,857 286,161 38,474,672 878,648
Operating costs and expenses        
Cost of revenue 6,993,834 740,483 9,400,249 1,893,724
Compensation and related taxes 4,082,767 1,060,480 56,488,554 1,294,137
Consulting fees 105,355 24,313 218,960 66,125
Professional fees 2,160,775 162,552 2,473,807 309,194
General and administrative 278,860 89,566 586,050 198,503
Impairment of mined cryptocurrency 11,078,660 11,740,859
Total operating expenses 24,700,251 2,077,394 80,908,479 3,761,683
Income (loss) from Operations 4,621,606 (1,791,233) (42,433,807) (2,883,035)
Other income (expenses)        
Other income 64,484 63,014 106,408
Loss on conversion of note (364,832) (364,832)
Change in fair value of investment in NYDIG fund (114,907,879) 16,915,071
Realized gain (loss) on sale of digital currencies 989 8,482 935 4,260
Change in fair value of warrant liability 1,196,004 (6,563) (395,892) 3,224
Change in fair value of mining payable (66,547)
Interest income 141,379 499 325,207 2,379
Interest expense (1,203) (7,549) (2,406) (20,984)
Total other (expenses) income (113,506,226) (369,963) 16,905,929 (336,092)
Income (loss) before income taxes (108,884,620) (2,161,196) (25,527,878) (3,219,127)
Income tax expense
Net income (loss) $ (108,884,620) $ (2,161,196) $ (25,527,878) $ (3,219,127)
Net income (loss) per share, basic and diluted: $ (1.09) $ (0.13) $ (0.26) $ (0.26)
Weighted average shares outstanding, basic and diluted: 99,466,946 16,291,610 96,922,964 12,473,568