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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 256,027,000 $ 357,313,000
Restricted cash 12,000,000 0
Digital assets 17,117,000 639,660,000
Accounts receivable, net 18,743,000 0
Deposits 26,185,000 7,240,000
Derivative instrument, current portion 13,710,000 0
Prepaid expenses and other current assets 28,164,000 25,590,000
Total current assets 371,946,000 1,029,803,000
Digital assets 1,158,615,000 0
Property and equipment, net 929,534,000 671,772,000
Advances to vendors 385,424,000 95,589,000
Investments 116,282,000 106,292,000
Long-term deposits 56,639,000 59,790,000
Long-term prepaids 21,153,000 27,284,000
Operating lease right-of-use assets 9,728,000 443,000
Derivative instrument, net of current portion 20,278,000 0
Goodwill 45,362,000 0
Intangible assets, net 2,194,000 0
Total long-term assets 2,745,209,000 961,170,000
TOTAL ASSETS 3,117,155,000 1,990,973,000
Current liabilities:    
Accounts payable 28,840,000 11,343,000
Accrued expenses 67,182,000 22,291,000
Operating lease liabilities, current portion 316,000 124,000
Finance lease liability, current portion 180,000 0
Other current liabilities 2,693,000 0
Total current liabilities 99,211,000 33,758,000
Long-term liabilities:    
Notes payable 326,513,000 325,654,000
Operating lease liabilities, net of current portion 15,106,000 354,000
Finance lease liability, net of current portion 4,834,000 0
Deferred tax liabilities 20,842,000 15,286,000
Other long-term liabilities 7,994,000 0
Total long-term liabilities 375,289,000 341,294,000
Commitments and Contingencies (Note 15)
Stockholders’ Equity:    
Preferred stock, par value $0.0001 per share, 50,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023 0 0
Common stock, par value $0.0001 per share, 500,000,000 shares authorized; 287,046,579 shares and 242,829,391 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 28,000 24,000
Additional paid-in capital 3,072,753,000 2,183,537,000
Accumulated deficit (430,126,000) (567,640,000)
Total stockholders’ equity 2,642,655,000 1,615,921,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 3,117,155,000 $ 1,990,973,000

Source

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