INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

	Year Ended December 31,
	2022		2021		2020
Current tax:
Federal	$	74	$	—	$	—
State	1,356		6,235		—
Total current tax	1,430		6,235		—
Deferred tax:
Federal	(18,532)		11,218		—
State	11		(1,690)		—
Total deferred tax	(18,521)		9,528		—
Total income tax (benefit) expense	$	(17,091)	$	15,763	$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the U.S. statutory tax rate and the Company’s effective tax rate is presented as follows (in thousands):

	Year Ended December 31,
	2022		2021		2020
U.S. federal statutory income tax (benefit) expense applied to loss before income taxes	$	(454,316)	$	13,246	$	(2,563)
State income taxes, net of federal benefit	(31,667)		3,591		(410)
Stock compensation	4,789		141		—
Non-deductible interest	11,366		5,310		—
Fair value adjustment - convertible notes	(10,942)		3,370		—
Non-deductible expenses	288		(702)		—
Valuation allowance	241,892		(9,180)		1,106
Deferred tax adjustments	—		—		1,827
Goodwill impairment	221,499		—
Other permanent items	—		(13)		40
Total income tax expense	$	(17,091)	$	15,763	$	—

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred tax assets and liabilities are detailed as follows (in thousands):

	Year Ended December 31,
	2022		2021		2020
Deferred tax assets:
Net operating loss carryforward	$	79,729	$	29,837	$	10,674
Capital loss carryforward	52,765		—		—
Deferred interest carryforward	11,289		—		137
Research tax credit carryforward	404		404		—
Reserves and accruals	4,248		148		159
Stock-based compensation	16,917		15,190		3,579
Unrealized capital loss	—		—		548
Property, plant and equipment, net	70,464		—		—
Digital asset impairment loss	—		8,368		61
Debt extinguishment loss	2,561		2,558		406
Intangibles (other than goodwill)	2,301		2,270		3,015
Leases	7,062		5,231		—
Capitalized research and development expenses	801		—		—
Other	169		3		—
Gross deferred tax assets	248,710		64,009		18,579
Valuation allowance	(248,710)		(6,781)		(15,961)
Deferred tax assets, net of valuation allowance	—		57,228		2,618
Deferred tax liabilities:
Property, plant and equipment, net	—		(75,759)		(2,618)
Deferred tax liabilities, net	—		(75,759)		(2,618)
Total net deferred tax assets (liabilities)	$	—	$	(18,531)	$	—

Schedule of Valuation Allowance

The changes in the Company’s valuation allowance were as follows (in thousands):

	Year Ended December 31,
	2022		2021		2020
Beginning Balance	$	6,781	$	15,961	$	14,855
Change related to current net operating losses and impairments	241,892		20,680		2,238
Net change related to generation of tax attributes	—		(695)		695
Change related to deferred tax adjustments	37		(20,025)		(1,827)
Change related to prior period adjustments	—		(137)		—
Acquisition deferred tax liabilities	—		(9,003)		—
Ending Balance	$	248,710	$	6,781	$	15,961