SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

SIGNIFICANT ACCOUNTING POLICIES

Supplemental disclosure of cash flow information

The following table shows supplemental cash flow information (in thousands):

		Three Months Ended		Period February 8, 2021 (date of inception) to
		March 31,		March 31,
	2022		2021
Supplemental disclosure of non-cash activities:
Common stock issuance costs in accounts payable or other accrued liabilities	$	3	$	58
Preferred stock issuance costs in accounts payable	$	293	$	—
Purchases of and deposits on plant and equipment in accounts payable, accrued construction liabilities, other accrued liabilities and long-term debt	$	8,943	$	—
Investment in joint venture in other accrued liabilities and long-term debt	$	482	$	—
Preferred stock dividends in other accrued liabilities	$	45	$	—
Preferred stock proceeds receivable in other current assets	$	300	$	—

Schedule of cash, cash equivalents and restricted cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that total to the amounts shown in the consolidated statements of cash flows (in thousands):

	March 31, 2022		December 31, 2021
Cash and cash equivalents	$	3,585	$	43,448
Restricted cash		1		3,007
Cash and cash equivalents and restricted cash	$	3,586	$	46,455

Schedule of digital currency activity

		Three Months Ended		Period February 8, 2021 (date of inception) to
		March 31,		March 31,
	2022		2021
Beginning balance	$	—	$	—
Revenue recognized from bitcoin mined		217		—
Impairment of bitcoin		(5)		—
Ending balance	$	212	$	—