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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net loss $ (27,994) $ 160
Depreciation and amortization 3,088 619
Stock compensation 28  
Amortization of debt discount and debt issuance costs 631  
(Gain) Loss on the sale/disposal of mining equipment 138 (51)
Realized (gain) loss on sale of digital assets (91) (6)
Gain on settlement of vendor liabilities (38)  
Impairment of digital assets 325
Equity in earnings of equity method investments 79 27
Change in fair value of accrued issuable equity (9)  
Issuance of shares in exchange for services 2,377  
Merger charges 22,004  
Debt restructuring fee 2,000  
Changes in assets and liabilities:    
Digital assets - mining net of pool fees and mgmt fees (8,826) (1,087)
Related party receivable 17 15
Prepaid assets and other current assets (72) (5)
Accounts receivable and other receivables 4,010 2
Accounts payable (3,908)  
Accrued liabilities and other current liabilities 442 (107)
Net cash used in operating activities (5,799) (433)
Cash Flows from Investing Activities    
Proceeds from sale of digital assets 3,670 410
Reverse acquisition of Sysorex business 28  
Purchase of mining equipment (50) (727)
Proceeds from sale of mining equipment 47 190
Investments in Up North & Style Hunter (600) 17
Net cash provided by (used in) investing activities 3,095 (110)
Cash Flows from Financing Activities    
Repayment of loans (4,349) (30)
Issuance of members’ interests 100 600
Proceeds received for convertible debt 12,415  
Cash paid for convertible debt transaction costs (1,261)  
Net cash provided by financing activities 6,905 570
Net increase in cash and cash equivalents 4,201 27
Cash and cash equivalents at beginning of period 67 34
Cash and cash equivalents at end of period 4,268 61
Cash paid for:    
Interest 89
Income taxes
Supplemental disclosure of noncash investing and financing activities:    
Sysorex recapitalization 19,401  
Payments of short-term borrowing with digital assets 1,091  
Debt discount attributed to the fair value of the warrants 810  
Distribution of digital assets to members 1,521 $ 646
Equipment exchanged for equity 12,000  
Equipment acquired through lease purchase arrangement 2,130  
Settlement of loan with mining equipment $ 75