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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue - bitcoin mining $ 36,808 $ 31,224 $ 84,945 $ 53,119
Costs and operating expenses (income)        
Cost of revenue 14,281 15,868 29,101 24,009
Compensation and benefits 16,285 12,668 29,321 24,605
General and administrative 8,365 8,667 14,442 14,150
Depreciation and amortization 20,251 14,412 37,495 26,067
Change in fair value of derivative asset (21,980) (3,222) (29,339) (8,550)
Power sales (1,109) (5,651) (2,282) (5,749)
Equity in losses (gains) of equity investees 577 1,431 (161) 2,181
Losses (gains) on fair value of bitcoin 16,309 (860) (24,247) (5,124)
Other gains       (2,260)
Total costs and operating expenses (income) 52,979 43,313 54,330 69,329
Operating (loss) income (16,171) (12,089) 30,615 (16,210)
Other income (expense)        
Interest income 1,053 25 1,839 101
Interest expense (372) (485) (772) (886)
Change in fair value of warrant liability 0 (22) 250 (59)
Other Income (expense) 727 (12) (1,231) (12)
Total other income (expense) 1,408 (494) 86 (856)
(Loss) income before taxes (14,763) (12,583) 30,701 (17,066)
Current income tax expense (335) (31) (721) (48)
Deferred income tax expense (193) (584) (5,371) (637)
Total income tax expense (528) (615) (6,092) (685)
Net (loss) income $ (15,291) $ (13,198) $ 24,609 $ (17,751)
Net (loss) income per share - basic $ (0.05) $ (0.05) $ 0.08 $ (0.07)
Net (loss) income per share - diluted $ (0.05) $ (0.05) $ 0.08 $ (0.07)
Weighted average shares outstanding - basic 314,353,742 249,127,664 305,497,621 248,892,181
Weighted average shares outstanding - diluted 314,353,742 249,127,664 316,652,300 248,892,181