SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| 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, 2022:
SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES
| Digital
currencies at December 31, 2021 |
|
$ |
123,243,264 |
|
| Additions of digital currencies |
|
|
51,717,718 |
|
| Impairment of digital currencies |
|
|
(19,551,254 |
) |
| Interest received on digital
currencies, restricted |
|
|
151,148 |
|
| Digital currencies
at March 31, 2022 |
|
$ |
155,560,876 |
|
|
| 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, 2022 and December
31, 2021, respectively:
SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS
| |
|
Fair
value measured at March 31, 2022 |
|
| |
|
Total carrying
value at March 31, |
|
|
Quoted prices
in active markets |
|
|
Significant
other observable inputs |
|
|
Significant
unobservable inputs |
|
| |
|
2022 |
|
|
(Level
1) |
|
|
(Level
2) |
|
|
(Level
3) |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Money Market
Accounts |
|
$ |
114,938,284 |
|
|
$ |
114,938,284 |
|
|
$ |
- |
|
|
$ |
- |
|
| Investment Fund |
|
$ |
218,236,903 |
|
|
$ |
- |
|
|
$ |
218,236,903 |
|
|
$ |
- |
|
| |
|
Fair
value measured at December 31, 2021 |
|
| |
|
Total carrying
value at December 31, |
|
|
Quoted prices
in active markets |
|
|
Significant
other observable inputs |
|
|
Significant
unobservable inputs |
|
| |
|
2021 |
|
|
(Level
1) |
|
|
(Level
2) |
|
|
(Level
3) |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Money Market
Accounts |
|
$ |
266,635,158 |
|
|
$ |
266,635,158 |
|
|
$ |
- |
|
|
$ |
- |
|
| Investment Fund |
|
$ |
223,778,545 |
|
|
$ |
- |
|
|
$ |
223,778,545 |
|
|
$ |
- |
|
|
| 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, 2022 and 2021 are as follows:
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
|
2022 |
|
|
2021 |
|
| |
|
As
of March 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Warrants to purchase common stock |
|
|
324,375 |
|
|
|
448,790 |
|
| Options to purchase common stock |
|
|
- |
|
|
|
81,120 |
|
| Convertible notes to exchange
common stock |
|
|
9,812,955 |
|
|
|
- |
|
| Total |
|
|
10,137,330 |
|
|
|
529,910 |
|
|
| SCHEDULE OF COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE |
The
following table sets forth the computation of basic and diluted income (loss) per share:
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE
| |
|
2022 |
|
|
2021 |
|
| |
|
For
the Three Months Ended March 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Net income (loss) attributable
to common shareholders |
|
$ |
(12,958,589 |
) |
|
$ |
83,356,742 |
|
| |
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
| Weighted average common shares - basic |
|
|
103,102,596 |
|
|
|
94,350,216 |
|
| Weighted average common shares - diluted |
|
|
103,102,596 |
|
|
|
96,251,240 |
|
| Income (loss) per common share - basic |
|
$ |
(0.13 |
) |
|
$ |
0.88 |
|
| Income (loss) per common share - diluted |
|
$ |
(0.13 |
) |
|
$ |
0.87 |
|
|