Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision

The components of the Company’s income tax provision are listed below (in thousands):

	Year Ended		Eleven Months Ended
	December 31, 2022		December 31, 2021
Deferred:
Federal	$	1,840	$	-
Total deferred		1,840		-
Income tax provision	$	1,840	$	-

Reconciliation of Expected Tax Computed at U.S. Statutory Federal Income Tax Rate to Total Benefit for Income Taxes

A reconciliation of the expected tax computed at the U.S. statutory federal income tax rate to the total expense for income taxes is shown below:

	Year Ended			Eleven Months Ended
	December 31, 2022			December 31, 2021
Income tax benefit at federal statutory rate		21.0	%		21.0	%
State taxes, net of federal benefit		0.0	%		1.0	%
162m limitations		(1.9	)%		(13.4	)%
Stock compensation		(14.1	)%		(3.3	)%
Permanent differences		0.1	%		0.0	%
Difference and changes in tax rates		(0.8	)%		0.0	%
RTP and other		1.4	%		0.0	%
Change in valuation allowance		(10.6	)%		(5.3	)%
Income tax provision		(4.9	)%		0.0	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows:

	December 31, 2022			December 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$	10,253		$	6,712
Share-based compensation		3,097			1,457
Accruals and other temporary differences		115			68
Intangible assets		4,002			-
Lease liability		4,267			-
Joint venture investments		6,612			-
Bitcoin holdings		308			-
Gross deferred tax assets		28,654			8,237
Valuation allowance		(12,173	)		(8,236	)
Net deferred tax assets		16,481			1
Deferred tax liabilities:
Right-of-use asset		(4,107	)		-
Derivatives		(14,007	)		-
Property and equipment, net		(207	)		(1	)
Gross deferred tax liabilities		(18,321	)		(1	)
Net deferred tax liabilities	$	(1,840	)	$	-