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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Digital asset mining revenue     $ 242,842 $ 20,393
Total revenue $ 163,972 $ 75,303 356,491 129,549
Cost of revenue 151,255 50,765 273,771 90,478
Gross profit 12,717 24,538 82,720 39,071
Gain (loss) from sales of digital assets 11,808 (16) 13,971 14
Impairment of digital assets (150,213) 0 (204,198) 0
Impairment of goodwill and other intangibles (790,753) 0 (790,753) 0
Losses on exchange or disposal of property, plant and equipment (13,057) (17) (13,057) (17)
Operating expenses:        
Research and development 14,773 1,437 18,113 2,645
Sales and marketing 10,238 720 11,636 1,254
General and administrative 90,874 6,822 131,034 10,617
Total operating expenses 115,885 8,979 160,783 14,516
Operating (loss) income (1,045,383) 15,526 (1,072,100) 24,552
Non-operating (income) expenses, net:        
Loss on debt extinguishment 0 7,974 0 8,016
Interest expense, net 27,116 10,846 48,792 12,981
Fair value adjustment on convertible notes (195,061) 0 190,976 0
Fair value adjustment on derivative warrant liabilities (22,189) 0 (32,464) 0
Other non-operating expenses, net 3,876 2 3,519 2
Total non-operating (income) expenses, net (186,258) 18,822 210,823 20,999
(Loss) income before income taxes (859,125) (3,296) (1,282,923) 3,553
Income tax (benefit) expense (48,650) 118 (6,244) 118
Net (loss) income $ (810,475) $ (3,414) $ (1,276,679) $ 3,435
Net (loss) income per share (Note 14):        
Net (loss) income per share – basic (in dollars per share) $ (2.49) $ (0.02) $ (4.04) $ 0.02
Net (loss) income per share – diluted (in dollars per share) $ (2.49) $ (0.02) $ (4.04) $ 0.02
Weighted average shares outstanding:        
Weighted average common shares outstanding - basic (in shares) 324,967 158,890 316,269 158,338
Weighted average common shares outstanding - diluted (in shares) 324,967 158,890 316,269 177,342
Hosting Service        
Revenue:        
Cost of revenue $ 43,644 $ 17,550 $ 74,875 $ 29,379
Hosting Service, Customers        
Revenue:        
Revenue from customers and related parties 31,338 11,895 58,676 20,251
Hosting Service, Related Parties        
Revenue:        
Revenue from customers and related parties 7,598 6,667 13,474 11,003
Equipment Sales        
Revenue:        
Cost of revenue 13,541 31,100 36,076 57,331
Equipment Sales, Customers        
Revenue:        
Revenue from customers and related parties 3,507 36,457 3,923 60,499
Equipment Sales, Related Parties        
Revenue:        
Revenue from customers and related parties 11,687 9,519 37,576 17,403
Digital asset mining        
Revenue:        
Digital asset mining revenue 109,842 10,765 242,842 20,393
Cost of revenue $ 94,070 $ 2,115 $ 162,820 $ 3,768