DIGITAL ASSETS

3 Months Ended

Mar. 31, 2024

DIGITAL ASSETS

DIGITAL ASSETS

6.DIGITAL ASSETS

The following table sets forth our digital assets as shown on the condensed consolidated balance sheet:

	March 31, 2024
	Units		Cost Basis		Fair Value
Digital assets:	(in thousands, except unit data)
Bitcoin		425.10	$	12,769	$	30,325
Total			$	12,769	$	30,325

The following table represents a reconciliation of the fair values of our digital assets:

	Three Months Ended
	March 31,
	2024
Digital assets:	(in thousands)
Beginning balance	$	15,811
Additions		3,604
Dispositions		(943)
Change in fair value gains		11,853
Ending balance	$	30,325

As discussed in Note 2 – New Accounting Standards, our beginning balance is inclusive of a cumulative-effect adjustment of $6.2 million as of January 1, 2024.  Additions are the result of awarded digital assets received from our crypto-mining activities, while dispositions are the result of sales and payments for services. During the three months ended March 31, 2024, we had digital asset dispositions of $0.9 million, inclusive of realized gains of $0.6 million.