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 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Cryptocurrency mining revenue $ 51,707,483 $ 835,184 $ 90,182,155 $ 1,713,832
Total revenues 51,707,483 835,184 90,182,155 1,713,832
Operating costs and expenses        
Cost of revenue 10,263,009 1,636,046 19,663,258 3,529,770
Compensation and related taxes 97,181,544 614,604 153,670,098 1,908,741
Consulting fees 159,300 259,563 378,260 325,688
Professional fees 857,921 206,368 3,331,728 515,562
General and administrative 797,574 112,800 1,383,110 311,303
Impairment of mined cryptocurrency 6,731,890 18,472,750
Total operating expenses 115,991,238 2,829,381 196,899,204 6,591,064
Income (loss) from operations (64,283,755) (1,994,197) (106,717,049) (4,877,232)
Other income (expenses)        
Other income 7,983 62,500 114,391
Loss on conversion of note (364,832)
Change in fair value of investment in NYDIG fund 41,850,203 58,765,274
Realized gain (loss) on sale of digital currencies 8,152 11,206 9,088 15,466
Change in fair value of warrant liability 168,666 (21,875) (227,225) (18,651)
Change in fair value of mining payable (66,547)
Interest income 84,454 2,466 409,661 4,845
Interest expense (287) (2,694) (20,984)
Total other (expenses) income 42,111,188 (220) 59,016,604 (336,312)
Loss before income taxes (22,172,567) (1,994,417) (47,700,445) (5,213,544)
Income tax expense
Net loss $ (22,172,567) $ (1,994,417) $ (47,700,445) $ (5,213,544)
Net loss per share, basic and diluted: $ (0.22) $ (0.06) $ (0.49) $ (0.28)
Weighted average shares outstanding, basic and diluted: 100,803,809 31,520,736 98,230,795 18,868,967