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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from Operating Activities:    
Net (loss) income $ (466,204) $ 6,849
Adjustments to reconcile net (loss) income to net cash (used by) provided by operating activities:    
Depreciation and amortization 42,139 2,916
Amortization of operating lease right-of-use assets 53  
Stock-based compensation 25,797 588
Digital asset mining income (133,000) (9,628)
Deferred income taxes 33,974 0
Loss on debt extinguishment 0 42
Fair value adjustments on derivative warrant liabilities (10,275) 0
Fair value adjustment on convertible notes 393,888 0
Amortization of debt discount and debt issuance costs 1,027 543
Impairments of digital assets 53,985 0
Changes in working capital components:    
Accounts receivable, net 1,214 (6,616)
Accounts receivable from related parties (42) 16
Digital assets (3,010) 9,587
Deposits for equipment for sales to customers 62,302 (100,150)
Prepaid expenses and other current assets (23,647) 1,235
Accounts payable (9,022) (1,792)
Accrued expenses and other 11,741 (709)
Deferred revenue 39,798 112,846
Deferred revenue from related parties (22,473) 0
Other noncurrent assets and liabilities, net (1,860) (315)
Net cash (used by) provided by operating activities (3,615) 15,412
Cash flows from Investing Activities:    
Purchases of property, plant and equipment (133,223) (10,757)
Deposits for self-mining equipment (135,873) 0
Other 0 (16)
Net cash used in investing activities (269,096) (10,773)
Cash flows from Financing Activities:    
Proceeds from issuance of common stock upon Merger with XPDI, net of transaction costs 195,010 496
Proceeds from debt, net of issuance costs 82,152 22,220
Financing lease payments (10,256) 0
Principal payments on debt (15,441) (1,683)
Net cash provided by financing activities 251,465 21,033
(Decrease) Increase in cash, cash equivalents, and restricted cash (21,246) 25,672
Cash, cash equivalents and restricted cash—beginning of period 131,678 8,721
Cash, cash equivalents and restricted cash—end of period $ 110,432 $ 34,393