SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
6 Months Ended |
Jun. 30, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES |
The
following table presents the activities of the digital currencies for the six months ended June 30, 2021:
SCHEDULE OF ACTIVITIES OF DIGITAL CURRENCIES
| |
|
|
|
|
| Digital currencies at December 31, 2020 |
|
$ |
2,271,656 |
|
| Additions of digital currencies |
|
|
38,474,672 |
|
| Realized gain on sale of digital currencies |
|
|
935 |
|
| Impairment of cryptocurrencies |
|
|
(11,740,859 |
) |
| Sale of digital currencies |
|
|
(40,000 |
) |
| Digital currencies at June 30, 2021 |
|
$ |
28,966,404 |
|
|
| 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 June 30, 2021 and December
31, 2020, respectively:
SCHEDULE
OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS
| |
|
Fair value measured at June 30, 2021 |
|
| |
|
Total carrying
value at June 30,
|
|
|
Quoted prices in active markets |
|
|
Significant other observable inputs |
|
|
Significant unobservable inputs |
|
| |
|
2021 |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Fund |
|
$ |
166,915,071 |
|
|
|
- |
|
|
$ |
166,915,071 |
|
|
|
-
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrant liability |
|
$ |
718,329 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
718,329 |
|
| |
|
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, 2020 |
|
$ |
322,437 |
|
| Change in fair value of warrants |
|
|
395,892 |
|
| Outstanding as of June 30, 2021 |
|
$ |
718,329 |
|
|
| 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:
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
|
As of June 30, |
|
| |
|
2021 |
|
|
2020 |
|
| Warrants to purchase common stock |
|
|
457,837 |
|
|
|
164,222 |
|
| Restricted stock |
|
|
199,038 |
|
|
|
2,065,479 |
|
| Options to purchase common stock |
|
|
81,120 |
|
|
|
140,182 |
|
| Total |
|
|
737,995 |
|
|
|
2,369,883 |
|
|
| 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
| |
|
For the Three Months Ended June 30, |
|
|
For the Six Months Ended June 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Net loss attributable to common shareholders |
|
$ |
(108,884,620 |
) |
|
$ |
(2,161,196 |
) |
|
$ |
(25,527,878 |
) |
|
$ |
(3,219,127 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares - basic and diluted |
|
|
99,466,946 |
|
|
|
16,291,610 |
|
|
|
96,922,964 |
|
|
|
12,473,568 |
|
| Income (loss) per common share - basic and diluted |
|
$ |
(1.09 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.26 |
) |
|