SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES |
The
following table presents the activities of the digital currencies for the years ended December 31, 2021 and 2020:
SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES
| Digital currencies at December 31, 2019 |
|
$ |
1,141 |
|
| Additions of digital currencies |
|
|
4,357,443 |
|
| Realized gain on sale of digital currencies |
|
|
15,466 |
|
| Sale of digital currencies |
|
|
(2,102,394 |
) |
| Digital currencies at December 31, 2020 |
|
$ |
2,271,656 |
|
| Additions of digital currencies |
|
|
150,463,770 |
|
| Realized gain on sale of digital currencies |
|
|
11,659 |
|
| Impairment of cryptocurrencies |
|
|
(29,552,991 |
) |
| Interest received on cryptocurrencies, restricted |
|
|
129,170 |
|
| Disposition of digital currencies |
|
|
(80,000 |
) |
| Digital currencies at December 31, 2021 |
|
$ |
123,243,264 |
|
|
| 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 December 31, 2021 and 2020,
respectively:
SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS
| |
|
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 |
|
|
$ |
- |
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrant liability |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
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 |
SCHEDULE OF FAIR VALUE OF WARRANT LIABILITIES
| |
|
Fair value |
|
| Outstanding as of December 31, 2019 |
|
$ |
12,849 |
|
| Change in fair value of warrants |
|
|
309,588 |
|
| Outstanding as of December 31, 2020 |
|
$ |
322,437 |
|
| Cashless exercise of warrants |
|
|
(1,370,723 |
) |
| Change in fair value of warrants |
|
|
1,048,286 |
|
| Outstanding as of December 31, 2021 |
|
$ |
- |
|
|
| SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE |
Securities
that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at December
31, 2021 and 2020 are as follows:
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
|
2021 |
|
|
2020 |
|
| |
|
As of December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Warrants to purchase common stock |
|
|
326,779 |
|
|
|
287,656 |
|
| Restricted stock |
|
|
642,094 |
|
|
|
- |
|
| Conversion of convertible notes |
|
|
9,812,955 |
|
|
|
- |
|
| Options to purchase common stock |
|
|
- |
|
|
|
106,120 |
|
| Total |
|
|
10,781,828 |
|
|
|
393,776 |
|
|
| SCHEDULE OF COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE |
The
following table sets forth the computation of basic and diluted loss per share:
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE
| |
|
2021 |
|
|
2020 |
|
|
2019 |
|
| |
|
For the Years Ended December 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2019 |
|
| Net loss attributable to common shareholders |
|
$ |
(36,174,506 |
) |
|
$ |
(10,447,771 |
) |
|
$ |
(3,517,065 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares - basic |
|
|
99,337,587 |
|
|
|
81,408,340 |
|
|
|
6,664,238 |
|
| Weighted average common shares - diluted |
|
|
99,337,587 |
|
|
|
81,408,340 |
|
|
|
6,664,238 |
|
| Loss per common share - basic |
|
$ |
(0.36 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.53 |
) |
| Loss per common share - diluted |
|
$ |
(0.36 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.53 |
) |
|