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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Digital asset mining revenue     $ 278,164 $ 323,337
Total revenue $ 112,904 $ 162,572 360,471 519,063
Cost of revenue 97,485 189,648 276,312 463,419
Gross profit (loss) 15,419 (27,076) 84,159 55,644
Gain from sales of digital assets 363 11,036 2,358 25,007
Impairment of digital assets (681) (7,986) (2,864) (212,184)
Impairment of goodwill and other intangibles 0 (268,512) 0 (1,059,265)
Impairment of property, plant and equipment 0 (59,259) 0 (59,259)
Losses on exchange or disposal of property, plant and equipment (340) 0 (514) (13,057)
Operating expenses:        
Research and development 2,253 6,192 5,308 24,305
Sales and marketing 1,041 39 3,133 11,675
General and administrative 23,511 43,346 69,671 174,380
Total operating expenses 26,805 49,577 78,112 210,360
Operating (loss) income (12,044) (401,374) 5,027 (1,473,474)
Non-operating expenses, net:        
Gain on debt extinguishment (374) 0 (21,135) 0
Interest expense, net 2,196 25,942 2,317 74,734
Fair value adjustment on convertible notes 0 (4,123) 0 186,853
Fair value adjustment on derivative warrant liabilities 0 (521) 0 (32,985)
Reorganization items, net 28,256 0 78,270 0
Other non-operating (income) expenses, net (1,090) 1,478 (3,978) 4,997
Total non-operating expenses, net 28,988 22,776 55,474 233,599
Loss before income taxes (41,032) (424,150) (50,447) (1,707,073)
Income tax expense 114 10,642 347 4,398
Net loss $ (41,146) $ (434,792) $ (50,794) $ (1,711,471)
Net loss per share:        
Basic (in dollars per share) $ (0.11) $ (1.23) $ (0.13) $ (5.38)
Diluted (in dollars per share) $ (0.11) $ (1.23) $ (0.13) $ (5.38)
Weighted average shares outstanding:        
Basic (in shares) 382,483,000 354,195,000 378,107,000 318,169,000
Diluted (in shares) 382,483,000 354,195,000 378,107,000 318,169,000
Hosting revenue        
Revenue:        
Cost of revenue $ 24,882 $ 44,975 $ 64,187 $ 119,850
Hosting revenue | Nonrelated Party        
Revenue:        
Revenue from customers and related parties 27,020 35,731 72,245 94,407
Hosting revenue | Related Party        
Revenue:        
Revenue from customers and related parties 2,828 9,185 10,062 22,659
Equipment sales        
Revenue:        
Cost of revenue 0 27,917 0 63,993
Equipment sales | Nonrelated Party        
Revenue:        
Revenue from customers and related parties 0 7,468 0 11,391
Equipment sales | Related Party        
Revenue:        
Revenue from customers and related parties 0 29,693 0 67,269
Digital asset mining        
Revenue:        
Digital asset mining revenue 83,056 80,495 278,164 323,337
Cost of revenue $ 72,603 $ 116,756 $ 212,125 $ 279,576