BITCOIN (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents information about the Company’s bitcoin holdings as of December 31, 2024 and 2023 (in thousands, except for quantity of bitcoin):


	Quantity	Amount
Balance as of December 31, 2023	43	$	1,801
Cumulative effect of change in accounting principle	—	37
Balance as of January 1, 2024	43	1,838
Revenue recognized from digital currency mining and hosting services	2,179	139,278
Bitcoin received as distribution from investee	395	22,776
Gains from remeasurement, net	—	2,200
Dispositions	(2,600)	(164,930)
Digital currency paid as consideration for services	(5)	(370)
Digital currency paid for purchases of and deposits on plant and equipment	(7)	(316)
Balance as of December 31, 2024	5	$	476

Cost basis as of December 31, 2024(1)		$	477


	Quantity	Amount
Balance as of January 1, 2023	11	$	183
Revenue recognized from digital currency mining and hosting services	2,165	63,877
Bitcoin received as distribution from investee	698	21,949
Impairment	—	(3,043)
Dispositions	(2,818)	(80,728)
Digital currency paid for purchases of and deposits on plant and equipment	(13)	(437)
Balance as of December 31, 2023	43	$	1,801

(1) Prior to the adoption of ASU 2023-08 on January 1, 2024, the carrying value of bitcoin represents the post-impairment value of all bitcoin held. After the adoption of ASU 2023-08, the cost basis of bitcoin represents the valuation of bitcoin at the time the Company earns the bitcoin through mining activities.


	Year Ended December 31,
	2024		2023		2022
Realized gains on sales of digital currency, net(2)	$	2,193	$	3,174	$	569

(2) Bitcoin is sold on a first in, first out (FIFO) basis. During the year ended December 31, 2024, realized net gains are included in gain on fair value of digital currency, net in the consolidated statement of operations.