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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash $ 62,909 $ 7,144
Restricted cash 28 30
Digital assets 1,600 0
Accounts receivable 589 0
Short-term notes receivable, net of allowance for credit losses of $261 at September 30, 2025 4,348 0
Inventory, net (see Note 4) 381 27,486
Deposits (see Note 5) 7,784 31,094
Other current assets 12,397 6,127
Total current assets 90,028 71,881
Property, plant and equipment, net 164,610 348,587
Operating lease right-of-use assets, net 5,877 1,761
Intangible assets, net 3,290 1,042
Goodwill 27,783 0
Other non-current assets (see Notes 4 and 5) 23,996 2,129
Total assets 315,584 425,400
Current liabilities    
Accounts payable 61,881 71,414
Accrued expenses and other current liabilities 73,210 56,754
Other financing liabilities, current portion 899 761
Operating lease liabilities, current portion 2,110 2,128
Total current liabilities 211,213 192,707
Other financing liabilities, long term portion 45,633 38,698
Operating lease liabilities, long term portion 3,653 14
Other liabilities 1,737 1,287
Total liabilities 355,124 310,433
Stockholders’ equity (deficit)    
Preferred stock 0 0
Additional paid-in capital 4,587,541 4,421,563
Accumulated other comprehensive income 6,186 7,744
Accumulated deficit (4,671,487) (4,314,346)
Total stockholders’ equity (deficit) attributable to the Company (77,744) 114,967
Noncontrolling interest 38,204 0
Total stockholders’ equity (deficit) (39,540) 114,967
Total liabilities and stockholders’ equity (deficit) 315,584 425,400
Nonrelated Party    
Current liabilities    
Accrued expenses and other current liabilities 60,669 45,677
Warrant liabilities 40,238 28,864
Accrued interest 0 25
Notes payable, current portion 7,450 4,224
Notes payable, long term portion 71,452 45,264
Derivative call options 15,416 29,709
Related Party    
Current liabilities    
Accrued expenses and other current liabilities 12,540 11,077
Warrant liabilities 2,912 0
Accrued interest 19,574 23,227
Notes payable, current portion 2,940 5,310
Notes payable, long term portion 2,536 2,754
Derivative call options 3,484 0
Class A Common Stock    
Stockholders’ equity (deficit)    
Common stock 16 6
Class B Common Stock    
Stockholders’ equity (deficit)    
Common stock 0 0
Series B Preferred Stock    
Stockholders’ equity (deficit)    
Preferred stock $ 0 $ 0