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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Digital asset mining revenue $ 98,026 $ 133,000
Total revenue 120,655 192,519
Cost of revenue 100,171 122,516
Gross profit 20,484 70,003
Gain from sales of digital assets 1,064 2,163
Impairment of digital assets (1,056) (53,985)
Operating expenses:    
Research and development 1,415 3,340
Sales and marketing 1,008 1,398
General and administrative 21,764 40,160
Total operating expenses 24,187 44,898
Operating loss (3,695) (26,717)
Non-operating expenses, net:    
Gain on debt extinguishment (20,761) 0
Interest expense, net 157 21,676
Fair value adjustment on convertible notes 0 386,037
Fair value adjustment on derivative warrant liabilities 0 (10,275)
Reorganization items, net 31,559 0
Other non-operating (income), net (3,069) (357)
Total non-operating expenses, net 7,886 397,081
Loss before income taxes (11,581) (423,798)
Income tax expense 104 42,406
Net loss $ (11,685) $ (466,204)
Net loss per share (Note 11):    
Net loss per share – basic (in dollars per share) $ (0.03) $ (1.52)
Net loss per share – diluted (in dollars per share) $ (0.03) $ (1.52)
Weighted average shares outstanding:    
Weighted average shares outstanding - basic (in shares) 375,419,000 307,475,000
Weighted average shares outstanding - diluted (in shares) 375,419,000 307,475,000
Hosting Service    
Revenue:    
Cost of revenue $ 18,826 $ 31,231
Hosting Service, Customers    
Revenue:    
Revenue from customers and related parties 18,909 27,338
Hosting Service, Related Parties    
Revenue:    
Revenue from customers and related parties 3,720 5,876
Equipment Sales    
Revenue:    
Cost of revenue 0 22,535
Equipment Sales, Customers    
Revenue:    
Revenue from customers and related parties 0 416
Equipment Sales, Related Parties    
Revenue:    
Revenue from customers and related parties 0 25,889
Digital asset mining    
Revenue:    
Digital asset mining revenue 98,026 133,000
Cost of revenue $ 81,345 $ 68,750