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NOTES PAYABLE (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Notes Payable
Notes payable as of June 30, 2023 and December 31, 2022, consist of the following (in thousands):
Interest RatesMaturitiesJune 30, 2023December 31, 2022
Kentucky note5.0%2023$572 $529 
NYDIG loan
11.0% - 15.0%
Various— 38,573 
Stockholder loan10.0%202310,000 10,000 
Trinity loan11.0%202423,356 23,356 
Bremer loan5.5%202618,331 18,331 
Blockfi loan
9.7% - 13.1%
202353,913 53,913 
Anchor Labs loan12.5%202425,159 25,159 
Mass Mutual Barings loans13.0%202563,844 63,844 
B. Riley Bridge Notes7.0%202341,777 41,777 
Liberty loan10.6%20246,968 6,968 
Secured Convertible Notes1
10.0%2025237,584 237,584 
Other Convertible Notes2
10.0%2025322,396 322,396 
Original DIP Credit Agreement3
10.0%2023— 35,547 
Replacement DIP Credit Agreement4
10.0%202326,987 — 
Other2,732 2,960 
Notes payable, prior to reclassification to Liabilities subject to compromise833,619 880,937 
Less: Notes payable in Liabilities subject to compromise5
805,876 844,695 
Unamortized discount and debt issuance costs6
— (36,456)
Fair value adjustment on convertible notes7
— (808,148)
Total notes payable, net$27,743 $36,242 
1 Secured Convertible Notes includes principal balance at issuance and PIK interest.
2 Other Convertible Notes includes principal balance at issuance and PIK interest.
3 Original DIP Credit Agreement, see Note 3 - Chapter 11 Filing and Other Related Matters for further information.
4 Replacement DIP Credit Agreement, see Note 3 - Chapter 11 Filing and Other Related Matters for further information.
5 In connection with the Company's Chapter 11 Cases, $805.9 million and $844.7 million of outstanding notes payable have been reclassified to Liabilities subject to compromise in the Company's Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022, respectively, at their expected allowed amount. Up to the Petition Date, the Company continued to accrue interest expense in relation to these reclassified debt instruments. As of June 30, 2023 and December 31, 2022, $12.5 million and $12.6 million, respectively, of accrued interest was classified as Liabilities subject to compromise.