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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
11 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (95,683) $ (90,791)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt issuance costs, commitment fees and accretion of debt discount 921 11,676
Related party expense to be settled with respect to common stock 12,500 2,083
Common stock issued for interest expense   82
Stock-based compensation expense   1,568
Depreciation   6,667
Amortization of right-of-use asset 52 303
Increase in digital currency from mining   (10,810)
Impairment of digital currency   1,457
Realized gain on sale of digital currency   (569)
Proceeds from sale of digital currency   9,739
Loss on nonmonetary miner exchange   804
Loss on extinguishment of debt   2,054
Deferred income tax benefit (615) (256)
Equity in net loss of investee, net of tax 1,538 15,712
Loss from discontinued operations, net of tax 49,106 4,857
Changes in operating assets and liabilities:    
Increase in prepaid expenses (1,489) (3,601)
Decrease (increase) in amounts due from related parties (647) 815
Increase in other current assets (113) (46)
Increase in other assets (109) (994)
Increase in accounts payable 9,729 10,197
Increase in other accrued liabilities 3,605 5,916
Increase in other amounts due to related parties 60 700
Increase in operating lease liability 4 175
Net cash used in operating activities from continuing operations (21,141) (32,262)
Net cash used in operating activities from discontinued operations (2,958) (1,804)
Net cash used in operating activities (24,099) (34,066)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of a business, net of cash acquired (10,280)  
Investments in joint venture, including direct payments made on behalf of joint venture (93,911) (46,172)
Reimbursable payments for deposits on plant and equipment made on behalf of a joint venture or joint venture partner (56,057) (11,741)
Reimbursement of payments for deposits on plant and equipment made on behalf of a joint venture or joint venture partner 56,057 11,716
Reimbursement from joint venture partner for deposits on plant and equipment contributed to the joint venture 11,850  
Purchase of and deposits on plant and equipment (109,072) (61,116)
Proceeds from sale of net assets held for sale   13,266
Net cash used in investing activities (201,413) (94,047)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of long-term debt, net of issuance costs paid of $38 and $0 118,276 22,462
Proceeds from insurance premium financing   7,041
Principal payments on insurance premium financing   (4,924)
Proceeds from issuance of promissory notes to stockholders 25,000 3,416
Repayment of promissory notes to stockholders (25,000)  
Proceeds from issuance of common stock, net of issuance costs paid of $142 and $0 104,376 47,326
Proceeds from warrant issuances in conjunction with equity offerings   5,700
Proceeds from issuance of preferred stock 49,315 9,566
Proceeds from issuance of convertible promissory note   14,700
Principal payments on convertible promissory note   (15,306)
Net cash provided by financing activities 271,967 89,981
Net change in cash and cash equivalents and restricted cash 46,455 (38,132)
Cash and cash equivalents and restricted cash at beginning of period 0 46,455
Cash and cash equivalents and restricted cash at end of period 46,455 8,323
Cash paid during the period for:    
Interest $ 252 $ 13,989