Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES

The following table presents the activities of the digital currencies for the six months ended June 30, 2021:

 

         
Digital currencies at December 31, 2020   $ 2,271,656  
Additions of digital currencies     38,474,672  
Realized gain on sale of digital currencies     935  
Impairment of cryptocurrencies     (11,740,859 )
Sale of digital currencies     (40,000 )
Digital currencies at June 30, 2021   $ 28,966,404  
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 June 30, 2021 and December 31, 2020, respectively:

 

    Fair value measured at June 30, 2021  
   

Total carrying

value at June 30,

    Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
  2021     (Level 1)     (Level 2)     (Level 3)  
Assets                        
Investment Fund   $ 166,915,071       -     $ 166,915,071       -   
                                 
Liabilities                                
Warrant liability   $ 718,329     $ -     $ -     $ 718,329  

 

    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     395,892  
Outstanding as of June 30, 2021   $ 718,329  
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

Potentially dilutive securities that are not included in the calculation of diluted net loss per share because their effect is anti-dilutive are as follows:

 

    As of June 30,  
    2021     2020  
Warrants to purchase common stock     457,837       164,222  
Restricted stock     199,038     2,065,479  
Options to purchase common stock     81,120       140,182  
Total     737,995       2,369,883  
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 June 30,     For the Six Months Ended June 30,  
    2021     2020     2021     2020  
Net loss attributable to common shareholders   $ (108,884,620 )   $ (2,161,196 )   $ (25,527,878 )   $ (3,219,127 )
                                 
Denominator:                                
Weighted average common shares - basic and diluted     99,466,946       16,291,610       96,922,964       12,473,568  
Income (loss) per common share - basic and diluted   $ (1.09 )   $ (0.13 )   $ (0.26 )   $ (0.26 )