v3.23.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Total revenues $ 97,849 $ 12,690 $ 230,740 $ 89,336
Cost of revenues        
Cost of revenues - energy, hosting and other (59,628) (13,773) (148,227) (42,981)
Cost of revenues - depreciation and amortization (53,548) (26,295) (108,556) (64,882)
Total cost of revenues (113,176) (40,068) (256,783) (107,863)
Operating expenses        
General and administrative expenses (20,141) (12,144) (55,977) (38,127)
Impairment of digital assets (11,885) (1,375) (26,399) (156,500)
Gains on digital assets and gains (losses) on digital assets loan receivable 31,720 72,689 (14,460)
Losses on digital assets held within investment fund (85,017)
Gain on sale of equipment, net of disposals 29,819 83,879
Legal reserves (24,960) (24,960)
Impairment of deposits due to vendor bankruptcy filing (7,987) (7,987)
Impairment of patents (919)
Total operating expenses (306) (16,647) (9,687) (244,091)
Operating loss (15,633) (44,025) (35,730) (262,618)
Net gain from extinguishment of debt 82,600 82,267
Equity in net earnings of unconsolidated affiliate (647) (647)
Impairment of loan and investment due to vendor bankruptcy filing (31,013) (31,013)
Interest expense (2,536) (3,752) (9,136) (10,314)
Other non-operating income 426 238 1,366 620
Income (loss) before income taxes 64,210 (78,552) 38,120 (303,325)
Income tax benefit (expense) (73) 6,090 (351) 901
Net income (loss) 64,137 (72,462) 37,769 (302,424)
Series A Preferred Stock accretion to redemption value (2,121)
Net income (loss) attributable to common stockholders $ 64,137 $ (72,462) $ 35,648 $ (302,424)
Net income (loss) attributable to common stockholders per common stock - basic $ 0.36 $ (0.62) $ 0.21 $ (2.76)
Weighted average common stock outstanding - basic 179,602,722 116,533,816 169,162,821 109,492,865
Net income (loss) attributable to common stockholders per common stock - diluted $ 0.35 $ (0.62) $ 0.21 $ (2.76)
Weighted average common stock outstanding - diluted 189,506,521 116,533,816 169,162,821 109,492,865

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