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Digital Assets
12 Months Ended
Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]  
Digital Assets

(5) Digital Assets

 

During the year ended December 31, 2020, the Company purchased approximately 70,469 bitcoins for $1.125 billion in cash, including cash from the net proceeds related to the liquidation of short-term investments and the issuance of its convertible senior notes. During the year ended December 31, 2020, the Company incurred $70.7 million of impairment losses on its bitcoin. As of December 31, 2020, the carrying value of the Company’s bitcoin was $1.054 billion, which reflects cumulative impairments of $70.7 million.  The carrying value represents the lowest fair value of the bitcoins at any time since their acquisition.  The Company did not sell any of its bitcoins during the year ended December 31, 2020.