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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
2 Months Ended 3 Months Ended
Mar. 31, 2021
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (113) $ (17,499)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation   7
Amortization of right-of-use assets   140
Change in fair value of warrant liability   (48)
Share-based compensation   9,514
Equity in earnings (loss) of equity investment   153
Impairment of cryptocurrencies   4
Changes in assets and liabilities:    
Prepaid expenses   2,288
Security deposits   (1,010)
Accounts payable 67 120
Accounts payable, related party 2  
Accrued expenses (1) 2,904
Lease liability   106
Net cash used in operating activities (45) (3,321)
Cash flows from investing activities    
Deposits on equipment   (96,914)
Purchases of property and equipment   (7,059)
Net cash used in investing activities   (103,973)
Cash flows from financing activities    
Proceeds from borrowings on related party loan 100  
Repurchase of common shares to pay employee withholding taxes   (3,052)
Net cash (used in) provided by financing activities 100 (3,052)
Net (decrease) increase in cash and cash equivalents 55 (110,346)
Cash and cash equivalents, beginning of the period   209,841
Cash and cash equivalents, end of the period 55 99,495
Supplemental disclosure of noncash investing and financing activities    
Equity method investment acquired for non-cash consideration   7,118
Right-of-use asset obtained in exchange for operating lease liability   5,859
Deposits on equipment in accounts payable, related party   2,506
Property and equipment purchases in accounts payable 3 1,624
Property and equipment purchases in accounts payable, related party   1,357
Investment in equity investee in accrued expenses   428
Cryptocurrencies received from equity method investment   195
Reclassification of deferred investment costs to equity method investment   174
Property and equipment purchases in accrued expenses   22
Deposits on equipment in accounts payable   $ 5
Deferred offering costs included in accrued expenses 1,525  
Deferred offering costs included in accounts payable 98  
Deferred investment costs included in accrued expenses $ 97