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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from Operating Activities:    
Net loss $ (9,648) $ (1,276,679)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 40,567 91,974
Amortization of operating lease right-of-use assets 469 107
Stock-based compensation 26,553 136,795
Digital asset mining revenue (195,108) (242,842)
Deferred income taxes 0 (8,527)
Gain on sale of intangible assets 0 (5,904)
Gain on debt extinguishment (20,761) 0
Fair value adjustment on derivative warrant liabilities 0 (32,464)
Fair value adjustment on convertible notes 0 206,859
Fair value adjustment on other liabilities 0 9,430
Amortization of debt discount and debt issuance costs 0 3,920
Losses on exchange or disposal of property, plant and equipment 174 13,057
Impairment of digital assets 2,183 204,198
Impairment of goodwill and other intangibles 0 790,753
Gain from sales of digital assets (1,995) (13,971)
Changes in operating assets and liabilities:    
Accounts receivable, net (1,025) (1,458)
Accounts receivable from related parties 23 (377)
Digital assets 195,322 246,249
Deposits for equipment for sales to customers 0 36,953
Prepaid expenses and other current assets (976) (24,246)
Accounts payable 23,282 4,186
Accrued expenses and other (6,499) 33,297
Deferred revenue (14,175) 8,421
Deferred revenue from related parties 0 (36,022)
Other noncurrent assets and liabilities, net (409) (2,436)
Net cash provided by operating activities 37,977 141,273
Cash flows from Investing Activities:    
Purchases of property, plant and equipment (1,774) (238,537)
Deposits for self-mining equipment 0 (217,677)
Proceeds from the sale of intangibles 0 10,850
Investments in internally developed software (714) 0
Other 0 (276)
Net cash used in investing activities (2,488) (445,640)
Cash flows from Financing Activities:    
Proceeds from issuance of common stock upon Merger with XPDI, net of transaction costs 0 198,857
Proceeds from debt, net of issuance costs 0 216,257
Repurchase of common shares to pay employee withholding taxes 0 (29,278)
Finance lease payments (2,260) (23,177)
Principal payments on debt (8,709) (49,490)
Net cash (used in) provided by financing activities (10,969) 313,169
Net increase in cash, cash equivalents and restricted cash 24,520 8,802
Cash, cash equivalents and restricted cash—beginning of period 52,240 131,678
Cash, cash equivalents and restricted cash—end of period 76,760 140,480
Supplemental disclosure of other cash flow information:    
Cash paid for interest 742 45,330
Income tax (refunds) payments (336) 6,538
Supplemental disclosure of noncash investing and financing activities:    
Change in accrued capital expenditures (26,330) 33,990
Decrease in equipment related to debt extinguishment 17,849 0
Decrease in notes payable in exchange for equipment (38,610) 0
Payment-in-kind interest 0 15,871
Cashless exercise of warrants $ 0 $ 3,001