v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 164,256,000 $ 357,313,000
Restricted cash 12,000,000 0
Digital assets 17,099,000 639,660,000
Accounts receivable, net 2,792,000 0
Deposits 26,497,000 7,240,000
Prepaid expenses and other current assets 16,728,000 25,590,000
Total current assets 239,372,000 1,029,803,000
Digital assets 1,693,122,000 0
Property and equipment, net 1,092,140,000 671,772,000
Advances to vendors 240,322,000 95,589,000
Investments 154,046,000 106,292,000
Long-term deposits 56,185,000 59,790,000
Long-term prepaids 19,616,000 27,284,000
Operating lease right-of-use assets 9,363,000 443,000
Goodwill 45,362,000 0
Intangible assets, net 1,975,000 0
Deferred tax assets 28,646,000 0
Total long-term assets 3,340,777,000 961,170,000
TOTAL ASSETS 3,580,149,000 1,990,973,000
Current liabilities:    
Accounts payable 12,561,000 11,343,000
Accrued expenses 36,861,000 22,291,000
Derivative instrument, current portion 6,276,000 0
Operating lease liabilities, current portion 367,000 124,000
Finance lease liability, current portion 179,000 0
Other current liabilities 3,545,000 0
Total current liabilities 59,789,000 33,758,000
Long-term liabilities:    
Notes payable 618,683,000 325,654,000
Derivative instrument, net of current portion 17,970,000 0
Operating lease liabilities, net of current portion 15,014,000 354,000
Finance lease liability, net of current portion 4,832,000 0
Deferred tax liabilities 0 15,286,000
Other long-term liabilities 8,268,000 0
Total long-term liabilities 664,767,000 341,294,000
Commitments and Contingencies (Note 16)
Stockholders’ Equity:    
Preferred stock, par value $0.0001 per share, 50,000,000 shares authorized; no shares issued and outstanding at September 30, 2024 and December 31, 2023 0 0
Common stock, par value $0.0001 per share, 500,000,000 shares authorized; 304,912,746 shares and 242,829,391 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 30,000 24,000
Additional paid-in capital 3,410,478,000 2,183,537,000
Accumulated deficit (554,915,000) (567,640,000)
Total stockholders’ equity 2,855,593,000 1,615,921,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 3,580,149,000 $ 1,990,973,000

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