CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net (loss) income	$ (1,166,661)	$ 429,121	$ (1,469,797)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	17,808	14,527	10,874
Reduction in carrying amount of right-of-use assets	8,475	8,643	8,072
Credit losses and sales allowances	649	1,387	939
Deferred taxes	(774,586)	(568,949)	131,493
Release of liabilities for unrecognized tax benefits	(1,265)	(506)	(360)
Share-based compensation expense	77,124	69,571	63,619
Digital asset impairment losses (gains on sale), net	1,789,862	115,851	1,286,286
Amortization of issuance costs on long-term debt	15,336	8,808	8,694
Loss (gain) on debt extinguishment	22,933	(44,686)	0
Changes in operating assets and liabilities:
Accounts receivable	5,688	10,307	(5,292)
Prepaid expenses and other current assets	3,804	(11,358)	(6,342)
Deposits and other assets	(10,668)	(632)	(7,455)
Accounts payable and accrued expenses	1,141	(634)	(3,521)
Accrued compensation and employee benefits	(34,563)	(12,000)	(12,344)
Accrued interest	4,193	(1,336)	1,336
Deferred revenue and advance payments	1,049	2,362	14,839
Operating lease liabilities	(10,510)	(10,218)	(9,634)
Other long-term liabilities	(2,841)	2,454	(8,196)
Net cash (used in) provided by operating activities	(53,032)	12,712	3,211
Investing activities:
Purchases of digital assets	(22,072,759)	(1,902,299)	(287,921)
Proceeds from sale of digital assets	0	0	11,817
Advance deposits on purchases of property and equipment	(10,500)	0	0
Purchases of property and equipment	(2,978)	(2,938)	(2,486)
Net cash used in investing activities	(22,086,237)	(1,905,237)	(278,590)
Financing activities:
Proceeds from convertible senior notes	6,213,750	0	0
Payments to settle conversions and redemption of convertible senior notes	(398)	0	0
Proceeds from secured term loan, net of lender fees	0	0	204,693
Issuance costs paid for secured term loan, excluding lender fees	0	0	(107)
Repayments of secured debt and third-party extinguishment costs	(515,414)	(160,033)	0
Proceeds from other long-term secured debt	0	0	11,100
Issuance costs paid for other long-term secured debt	0	0	(270)
Principal payments of other long-term secured debt	(539)	(513)	(246)
Proceeds from sale of common stock under public offerings	16,363,023	2,029,214	46,592
Issuance costs paid related to sale of common stock under public offerings	(33,166)	(9,141)	(358)
Proceeds from exercise of stock options	184,287	30,518	1,393
Payment of withholding tax on vesting of restricted stock units	(2,173)	(4,114)	(2,082)
Net cash provided by financing activities	22,132,641	1,889,886	265,188
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(2,148)	444	(3,375)
Net decrease in cash, cash equivalents, and restricted cash	(8,776)	(2,195)	(13,566)
Cash, cash equivalents, and restricted cash, beginning of year	48,673	50,868	64,434
Cash, cash equivalents, and restricted cash, end of year	39,897	48,673	50,868
Supplemental disclosure of cash flow information:
Cash paid during the year for interest	44,571	41,229	43,448
Cash paid during the year for income taxes, net of tax refunds	1,059	30,318	21,973
Convertible Senior Notes
Financing activities:
Issuance costs paid	(81,033)	0	0
Employee Stock Purchase Plan
Financing activities:
Proceeds from sales under employee stock purchase plan	$ 4,304	$ 3,955	$ 4,473