XML 19 R9.htm IDEA: XBRL DOCUMENT

Bitcoin

3 Months Ended

Mar. 31, 2023

NOTE 3. BITCOIN

The following table presents information about the Company’s bitcoin (in thousands):


Balance as of January 1, 2023	$	6,283
Bitcoin received from equity investees		317
Revenue recognized from bitcoin mined, net of receivable		21,717
Proceeds from sale of bitcoin, net of realized gain		(16,936	)
Impairment of bitcoin		(1,805	)
Balance as of March 31, 2023	$	9,576

The fair value of the Company’s bitcoin as of March 31, 2023 was approximately $11.8 million and was estimated using the closing price of bitcoin, which is a Level 1 input (i.e., an observable input such as a quoted price in an active market for an identical asset).

During the three months ended March 31, 2023, the Company recorded impairment charges on its bitcoin holdings of approximately $1.8 million. Impairment charges were immaterial for the three months ended March 31, 2022.