ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)
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1 Months Ended |
2 Months Ended |
12 Months Ended |
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Sep. 03, 2021
USD ($)
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May 21, 2021
USD ($)
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Feb. 21, 2021 |
Feb. 11, 2021
shares
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Jan. 12, 2021
USD ($)
$ / shares
shares
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Jan. 04, 2021
USD ($)
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Dec. 23, 2020
USD ($)
Integer
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Dec. 11, 2020
USD ($)
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Dec. 08, 2020
Integer
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Dec. 08, 2020
USD ($)
Integer
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Nov. 12, 2020
USD ($)
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Oct. 23, 2020
USD ($)
Integer
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Oct. 23, 2020
Integer
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Oct. 06, 2020
USD ($)
$ / shares
shares
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Oct. 06, 2020
USD ($)
$ / shares
shares
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Aug. 13, 2020
USD ($)
Integer
$ / shares
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May 12, 2020
Integer
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May 11, 2020 |
Feb. 23, 2020 |
Jan. 12, 2020
$ / shares
shares
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Nov. 15, 2019
shares
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Sep. 30, 2019
USD ($)
$ / shares
shares
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Jan. 25, 2021
USD ($)
Integer
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Dec. 31, 2020
USD ($)
Integer
$ / shares
shares
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Sep. 30, 2019
USD ($)
$ / shares
shares
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Mar. 14, 2021
USD ($)
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Dec. 31, 2021
USD ($)
Integer
$ / shares
shares
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Dec. 31, 2020
USD ($)
Integer
$ / shares
shares
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Dec. 31, 2019
USD ($)
shares
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Nov. 18, 2021
$ / shares
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Jul. 30, 2021
Integer
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Jan. 31, 2021
USD ($)
Integer
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Nov. 30, 2020
Integer
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Jul. 29, 2020
Integer
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Jun. 11, 2020
Integer
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May 18, 2020
Integer
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May 21, 2019
USD ($)
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Mar. 31, 2019
USD ($)
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Dec. 31, 2018
USD ($)
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Jan. 01, 2018
shares
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Property, Plant and Equipment [Line Items] |
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Reverse stock split |
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1:4 Reverse Split
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Failed to maintain a minimum amount |
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$ 2,500,000
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Stockholders' equity |
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$ 311,744,964
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$ 683,023,381
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$ 311,744,964
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$ 3,647,672
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$ 2,158,192
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$ 2,920,874
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Common stock, issued during the period, value |
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$ 237,429,620
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297,659,270
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245,494
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Common stock shares issued during period | shares |
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474,808
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Shares issued price per share | $ / shares |
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$ 0.90
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$ 1,000
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Change in fair value of mining payable |
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66,547
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(507,862)
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Impaiment of assets |
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447,776
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Miners description |
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Subject
to the timely payment of the purchase price, Bitmain shall deliver products according to the following schedule: 1,500 Units on or before
January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021.
As of December 31, 2021, the Company has paid the entire purchase price under this agreement and has received 10,500 units from Bitmain.
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Number of miners remaining | Integer |
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440
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440
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Purchase price |
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$ 1,100,000
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Payments for purchase of miners |
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$ 435,065,378
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$ 65,647,592
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Aggregate purchase price of common stock |
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$ 100,000,000
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Cash |
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$ 141,300,000
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$ 141,300,000
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Common Stock, Shares, Outstanding | shares |
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81,974,619
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102,733,273
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81,974,619
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Proceeds from public offering |
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$ 2,300,000
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Other Receivables, Net, Current |
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$ 74,767,226
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$ 74,767,226
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Compensation description |
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Compensation
for directors of the board for 2021 was as follows: (i) cash compensation of $60,000 per year for each director, plus an additional
$15,000 per year for each committee chair, paid 25% at the end of each calendar quarter; (ii) for existing directors, the equivalent
of 54,795 RSUs; and (iii) for newly elected directors, a one-time grant of 91,324 RSUs, vesting 25% each calendar quarter during 2021
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Acquisition of bitcoins | Integer |
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4,812.66
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Aggregate purchase price of bitcoins |
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$ 150,000,000
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Expedite fees |
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$ 14,600,000
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Phase I [Member] |
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Property, Plant and Equipment [Line Items] |
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Total amount to be paid for miner |
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$ 23,000,000
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Phase II [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Total amount to be paid for miner |
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200,000
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Phase II [Member] | Maximum [Member] |
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Property, Plant and Equipment [Line Items] |
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Total amount to be paid for miner |
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250,000
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At The Market Offering [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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6,632,712
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54,301,698
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172,126
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Proceeds from public offering |
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$ 77,100,000
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Other Receivables, Net, Current |
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$ 74,800,000
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74,800,000
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Restricted Stock Three [Member] |
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Property, Plant and Equipment [Line Items] |
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Stock Issued During Period, Value, Restricted Stock Award, Gross |
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$ 2,000,000
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Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares |
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2,000,000
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Restricted Stock Three [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Stock Issued During Period, Value, Restricted Stock Award, Gross |
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$ 2,000,000,000
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Restricted Stock One [Member] |
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Property, Plant and Equipment [Line Items] |
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Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares |
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1,000,000
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Restricted Stock One [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Stock Issued During Period, Value, Restricted Stock Award, Gross |
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$ 750,000,000
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Restricted Stock [Member] |
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Property, Plant and Equipment [Line Items] |
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Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares |
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1,000,000
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|
|
Restricted Stock [Member] | Minimum [Member] |
|
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Property, Plant and Equipment [Line Items] |
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|
Stock Issued During Period, Value, Restricted Stock Award, Gross |
|
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|
$ 500,000,000
|
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|
Restricted Stock Two [Member] |
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Property, Plant and Equipment [Line Items] |
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Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares |
|
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|
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|
|
2,000,000
|
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|
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|
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|
Restricted Stock Two [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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|
Stock Issued During Period, Value, Restricted Stock Award, Gross |
|
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|
$ 1,000,000,000
|
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|
Miners from MicroBT [Member] |
|
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Property, Plant and Equipment [Line Items] |
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|
Miners description |
|
|
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|
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|
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|
|
700
new generation M305+ASIC Miners from MicroBT for approximately $1.3 million. The 700 miners produce 80/Th and will generate 56 PH/s (petahash)
of hashing power, compared to the Company’s current S-9 production of 46 PH/s. These next generation MicroBT ASIC miners are markedly
more energy efficient than our existing Bitmain models
|
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Number of miners | Integer |
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|
700
|
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|
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|
Bitmain S19 Pro Miners [Member] |
|
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|
Property, Plant and Equipment [Line Items] |
|
|
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|
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|
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|
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|
|
Miners description |
|
|
|
|
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|
|
|
|
|
These
miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, compared to the Company’s S-9 production of 46 PH/s.
The Company made the payments of approximately $4.2 million in the second quarter of 2020 and received 660 of the 1,660 units at its
Hosting Facility in August 2020, and its hosting partner, Compute North, had installed them upon their arrival.
|
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|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
660
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
500
|
500
|
|
|
|
|
Number of miners remaining | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000
|
|
|
|
1,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners received | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60
|
500
|
|
|
|
|
|
|
|
Antminer S-19 Pro ASIC Miners [Member] |
|
|
|
|
|
|
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|
|
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|
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|
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|
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|
Property, Plant and Equipment [Line Items] |
|
|
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|
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|
|
|
|
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|
Miners description |
|
|
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|
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|
|
|
The
purchase price per unit is $2,362 ($2,206 with a 6.62% discount) for a total purchase price of $24,801,000 (with a 6.62% discount for
a discounted price of $23,159,174). The parties confirm that the total hashrate of the Antminers under this agreement shall not be less
than 1,155,000 TH/s.
|
|
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|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,362
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discounted purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,206
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
Miners [Member] |
|
|
|
|
|
|
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|
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|
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|
|
|
|
|
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|
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|
|
|
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|
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|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
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|
|
Common stock, issued during the period, value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 513,700
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock shares issued during period | shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
583,750
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock price | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0.88
|
|
|
|
$ 0.88
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued price per share | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0.88
|
|
|
|
$ 0.88
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in fair value of mining payable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 66,547
|
$ 507,862
|
|
|
|
|
|
|
|
|
|
|
|
Sim Salzman [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
91,324
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash bonus |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 40,000
|
|
|
|
$ 40,000
|
|
|
|
|
|
|
|
|
|
|
|
|
James Crawford [Member] |
|
|
|
|
|
|
|
|
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|
|
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|
|
|
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|
|
|
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|
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|
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|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
57,990
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash bonus |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 127,308
|
|
|
|
$ 127,308
|
|
|
|
|
|
|
|
|
|
|
|
|
SelectGreen Blockchain Ltd [Member] |
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, issued during the period, value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 4,086,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description about the payment for miners |
|
|
to purchase an additional 78,000 next generation Antminer S-19 XP Miners,
with 13,000 units being delivered in each of July 2022, August 2022, September 2022, October 2022, November 2022 and December 2022. The
purchase price is $879,060,000. The purchase price for the miners shall be paid as follows: 35% of the total amount within two days of
execution of the purchase contract, 35% of each single shipment price at least six months prior to each such shipment, and the remaining
30% of each single shipment price at least one month prior to each such shipment
|
|
|
|
|
|
On
December 8, 2020, the Company executed a contract with Bitmain to purchase an additional 10,000 next generation Antminer S-19j Pro ASIC
Miners, with 6,000 units to be delivered in August 2021, and the remaining 4,000 units to be delivered in September 2021. The gross purchase
price is $23,770,000 with 10% of the purchase price due within 48 hours of execution of the contract, 30% due on January 14, 2021, 10%
due on February 15, 2021, 30% due on June 15, 2021 and 20% due on July 15, 2021.
|
|
|
On
October 23, 2020, the Company executed a contract with Bitmain to purchase an additional 10,000 next generation Antminer S-19 Pro ASIC
Miners. The 2021 delivery schedule was for 2,500 units to be delivered in January, 4,500 units to be delivered in February and the final
3,000 units to be delivered in March 2021.The gross purchase price was $23,620,000 with 30% due upon the execution of the contract and
the balance paid over the next 4 months.
|
|
|
|
|
|
|
to purchase an additional 70,000 next generation Antminer S-19 ASIC Miners,
with 7,000 units to be delivered by August 2021, 2,100 units to be delivered by September 2021, 6,500 units to be delivered by October
31, 2021, 14,700 units to be delivered by November 30, 2021, 24,500 units to be delivered by December 31, 2021 and 15,200 units to be
delivered by January 31, 2022. The purchase price is $167,763,451. The purchase price for the miners shall be paid as follows: 20% within
48 hours of signing of contract; 30% on or before March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15,
2021; 10.19% on September 15, 2021; 17.63% on October 15, 2021 and 11.55% on November 15, 2021.
|
|
|
|
|
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|
|
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|
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|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | December 23,2023 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Miners description |
|
|
|
|
|
|
The purchase price for the miners shall be paid as follows: 20% within 48 hours of signing of contract; 30% on or before
March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15, 2021; 10.19% on September 15, 2021; 17.63% on October
15, 2021 and 11.55% on November 15, 2021
|
|
|
|
|
|
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|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
70,000
|
|
|
|
|
10,000
|
10,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage of discount for the purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.63%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate purchase price of common stock |
|
|
|
|
|
|
|
|
|
|
|
$ 23,620,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase price of mining |
|
|
|
|
|
|
$ 167,763,451
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 21,718,649
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | July 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
7,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | December 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
63,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | January 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
2,500
|
2,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | February 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
4,500
|
4,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | March 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
3,000
|
3,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description about the payment for miners |
|
|
|
|
|
|
|
|
to purchase an additional 10,000 next generation Antminer S-19j Pro ASIC
Miners, with 6,000 units to be delivered in August 2021, and the remaining 4,000 units to be delivered in September 2021. The gross purchase
price is $23,770,000 with 10% of the purchase price due within 48 hours of execution of the contract, 30% due on January 14, 2021, 10%
due on February 15, 2021, 30% due on June 15, 2021 and 20% due on July 15, 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
10,000
|
10,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,000
|
|
|
|
|
|
|
|
|
|
Aggregate purchase price of common stock |
|
|
|
|
|
|
|
|
|
$ 23,770,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
20.00%
|
|
|
10.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | August 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
6,000
|
6,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | January 14, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | February 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
10.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | June 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | July 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
20.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | June 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
4.75%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | July 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
1.76%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | August 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
4.58%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | September 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
10.19%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | October 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
17.63%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | November 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
11.55%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | July 30 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expedite fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 120,711,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment of expedite fee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92,015,375
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | January 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | February 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | March 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | April 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | May 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | June 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
|
|
|
|
|
|
|
|
|
Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | September 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
4,000
|
4,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compute North LLC [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Miners description |
|
Marathon
Digital Holdings, Inc. (the “Company”) entered into a binding letter of intent with Compute North, LLC to host 73,000
Bitcoin Miners over a staged in implementation between October 2021 and March 2022. The hosting cost is $0.50 per machine per month
and the hosting rate will be $0.044 per kWh. In order to build out the infrastructure without paying for the capital expenditure,
the Company will provide an 18 month bridge loan to Compute North of up to $67
million dollars, in tranches, based upon specified requirements being met. The terms of the contract are limited to three years with
increases thereafter capped at three percent per year thereafter.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan receivable |
|
$ 67,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expedite fees |
|
$ 14,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment of expedite fee |
$ 14,600,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 30,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, issued during the period, value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,233,773
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock shares issued during period | shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,058,558
|
1,276,442
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock percent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Purchase Agreement [Member] | SelectGreen Blockchain Ltd [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, issued during the period, value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 4,086,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock shares issued during period | shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,335,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock price | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1.75
|
|
|
$ 1.75
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impaiment of assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 871,302
|
|
|
|
|
|
|
|
|
|
|
|
|
Long Term Purchase Contract [Member] | Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Miners description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The parties confirm that the total hashrate of the Antminers under this agreement shall not be less
than 1,155,000 TH/s. Subsequent to executing this agreement, due to the additional executed contracts, Bitmain applied a total net discount
of 8.63% to the purchase price adjusting the amount due to $22,660,673
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,500
|
|
|
|
|
|
|
|
10,500
|
|
|
10,000
|
10,500
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,362
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discounted purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,206
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage of discount for the purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.62%
|
|
|
|
|
|
|
|
|
|
8.63%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments for purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 24,801,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Disounted payment for purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 22,660,673
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares received | shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Payments for purchase of miners |
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$ 750,000
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Power Purchase Agreement [Member] | Marathon and Beowulf [Member] |
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Property, Plant and Equipment [Line Items] |
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Miners description |
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Marathon
and Beowulf entered into an exclusive Power Purchase Agreement for the initial supply of 30 MW (Phase I), and up to 100 MW in the aggregate
(Phase II), of energy load to the Facility at a cost of $0.028/kWh. The initial term of the Power Purchase Agreement is five years, with
up to five additional three-year extensions, as mutually agreed, assuming 75% energy utilization of the initial 30 MW of energy supplied
to the Facility
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Energy load facility cost | $ / shares |
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$ 0.028
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$ 0.028
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Data Facility Services Agreement [Member] | Marathon and Beowulf [Member] | Phase I [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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150,000
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Data Facility Services Agreement [Member] | Marathon and Beowulf [Member] | Phase II [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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350,000
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Data Facility Services Agreement [Member] | Beowulf and 2P1 [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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3,000,000
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Energy load facility cost | $ / shares |
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$ 1.87
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$ 1.87
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Aggregate purchase price of common stock |
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$ 11,220,000
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Antminer S-19 Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] |
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Property, Plant and Equipment [Line Items] |
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Percentage of discount for the purchase of miners |
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8.63%
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Disounted payment for purchase of miners |
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$ 21,581,594
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At The Market Agreement [Member] |
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Property, Plant and Equipment [Line Items] |
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Purchase price of mining |
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$ 200,000,000
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At The Market Agreement [Member] | H.C. Wainwright [Member] | Maximum [Member] |
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Property, Plant and Equipment [Line Items] |
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Purchase price of mining |
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$ 200,000,000
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Securities Purchase Agreement [Member] |
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Property, Plant and Equipment [Line Items] |
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Shares issued price per share | $ / shares |
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$ 20.00
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Sale of stock, shares | shares |
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12,500,000
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12,500,000
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At The Market A T M Facility [Member] |
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Property, Plant and Equipment [Line Items] |
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Shares issued price per share | $ / shares |
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$ 20.00
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Purchase Agreement [Member] |
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Property, Plant and Equipment [Line Items] |
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Proceeds from public offering |
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$ 250,000,000
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2018 Equity Incentive Plan [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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4,701,442
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2018 Equity Incentive Plan [Member] |
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Property, Plant and Equipment [Line Items] |
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Shares reserved for issuance | shares |
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625,000
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