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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from Operating Activities:    
Net loss $ (11,685) $ (466,204)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 20,094 42,139
Amortization of operating lease right-of-use assets 195 53
Stock-based compensation 12,273 25,797
Digital asset mining revenue (98,026) (133,000)
Deferred income taxes 0 33,974
Gain on debt extinguishment (20,761) 0
Fair value adjustment on derivative warrant liabilities 0 (10,275)
Fair value adjustment on convertible notes 0 393,888
Amortization of debt discount and debt issuance costs 0 1,027
Impairment of digital assets 1,056 53,985
Changes in working capital components:    
Accounts receivable, net 61 1,214
Accounts receivable from related parties 21 (42)
Digital assets 97,694 (3,010)
Deposits for equipment for sales to customers 0 62,302
Prepaid expenses and other current assets 1,152 (23,647)
Accounts payable 16,408 (9,022)
Accrued expenses and other 10,391 11,741
Deferred revenue (8,629) 39,798
Deferred revenue from related parties 0 (22,473)
Other noncurrent assets and liabilities, net (302) (1,860)
Net cash provided by (used in) operating activities 19,942 (3,615)
Cash flows from Investing Activities:    
Purchases of property, plant and equipment (1,539) (133,223)
Deposits for self-mining equipment 0 (135,873)
Other (330) 0
Net cash used in investing activities (1,869) (269,096)
Cash flows from Financing Activities:    
Proceeds from issuance of common stock upon Merger with XPDI, net of transaction costs 0 195,010
Proceeds from debt, net of issuance costs 0 82,152
Finance lease payments (1,021) (10,256)
Principal payments on debt 0 (15,441)
Net cash (used in) provided by financing activities (1,021) 251,465
Net increase (decrease) in cash, cash equivalents and restricted cash 17,052 (21,246)
Cash, cash equivalents and restricted cash—beginning of period 52,240 131,678
Cash, cash equivalents and restricted cash—end of period 69,292 110,432
Supplemental disclosure of other cash flow information:    
Cash paid for interest 317 20,847
Income tax payments (300) 0
Supplemental disclosure of noncash investing and financing activities:    
Accrued capital expenditures 45,721 22,510
Decrease in equipment related to debt extinguishment 17,849 0
Decrease in notes payable in exchange for equipment $ (38,610) $ 0