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)
9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES

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

 

Digital currencies at December 31, 2020   $ 2,271,656  
Additions of digital currencies     90,182,155  
Realized gain on sale of digital currencies     8,571  
Impairment of cryptocurrencies     (18,472,750 )
Interest received on cryptocurrencies, restricted     5,962  
Sale of digital currencies     (64,000 )
Digital currencies at September 30, 2021   $ 73,931,594  
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 September 30, 2021 and December 31, 2020, respectively:

 

    Fair value measured at September 30, 2021  
   

Total carrying

value at September 30,

    Quoted prices in active markets     Significant other observable inputs     Significant unobservable inputs  
    2021     (Level 1)     (Level 2)     (Level 3)  
Assets                                
Investment Fund   $ 208,765,274       -     $ 208,765,274       -  
                                 
Liabilities                                
Warrant liability   $ 549,663     $ -     $ -     $ 549,663  

 

    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     227,226  
Outstanding as of September 30, 2021   $ 549,663  
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 September 30,  
    2021     2020  
Warrants to purchase common stock     457,837       696,167  
Restricted stock     95,179       1,372,820  
Options to purchase common stock     81,120       140,182  
Total     634,136       2,209,169  
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 September 30,     For the Nine Months Ended September 30,  
    2021     2020     2021     2020  
Net loss attributable to common shareholders   $ (22,172,567 )   $ (1,994,417 )   $ (47,700,445 )   $ (5,213,544 )
                                 
Denominator:                                
Weighted average common shares - basic and diluted     100,803,809       31,520,736       98,230,795       18,868,967  
Income (loss) per common share - basic and diluted   $ (0.22 )   $ (0.06 )   $ (0.49 )   $ (0.28 )