XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from Operating Activities:    
Net loss $ (1,711,471) $ (13,194)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 156,544 12,886
Amortization of operating lease right-of-use assets 424  
Stock-based compensation 166,548 31,012
Digital asset mining revenue (323,337) (77,511)
Deferred income taxes 3,434 3,604
Loss on legal settlement 0 2,603
Gain on sale of intangible assets (5,904) 0
Loss on debt extinguishment 0 8,016
Fair value adjustment on derivative warrant liabilities (32,985) 0
Fair value adjustment on convertible notes 210,968 15,937
Fair value adjustment on other liabilities 9,498 0
Equity line of credit expenses 1,431 0
Amortization of debt discount and debt issuance costs 6,172 1,024
Losses on exchange or disposal of property, plant and equipment 13,057 17
Impairment of digital assets 212,184 12,552
Impairment of goodwill and other intangibles 1,118,524 0
Provision for doubtful accounts 5,943 0
Changes in working capital components:    
Accounts receivable, net (6,737) (6,641)
Accounts receivable from related parties (595) 55
Digital assets 325,787 27,316
Deposits for equipment for sales to customers (66,932) (414,771)
Prepaid expenses and other current assets 53,832 970
Accounts payable 2,954 (35,132)
Accrued expenses and other (241) 17,945
Deferred revenue 22,251 36,226
Deferred revenue from related parties (65,954) 218,304
Other noncurrent assets and liabilities, net (6,194) (7,692)
Net cash provided by (used in) operating activities 89,201 (166,474)
Cash flows from Investing Activities:    
Purchases of property, plant and equipment (243,755) (116,074)
Cash acquired in acquisition 0 704
Deposits for self-mining equipment (217,677) 0
Proceeds from sale of intangibles 10,850 0
Other (719) (154)
Net cash used in investing activities (451,301) (115,524)
Cash flows from Financing Activities:    
Proceeds from issuance of common stock, net of transaction costs 210,534 496
Proceeds from debt, net of issuance costs 216,182 475,301
Repurchase of common shares to pay employee withholding taxes (31,627) 0
Finance lease payments (28,070) 0
Principal payments on debt (98,953) (42,513)
Net cash provided by financing activities 268,066 433,284
Net (decrease) increase in cash, cash equivalents and restricted cash (94,034) 151,286
Cash, cash equivalents and restricted cash—beginning of period 131,678 8,721
Cash, cash equivalents and restricted cash—end of period $ 37,644 $ 160,007