SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Activity related to our digital asset balances for the years ended December 31, 2023 and 2022 were as follows (in thousands):


	December 31, 2023		December 31, 2022
Digital assets, beginning of period	$	724	$	234,298
Digital asset mining revenue, net of receivables*	389,456		397,796
Mining proceeds from shared hosting	17,626		—
Proceeds from sales of digital assets	(404,686)		(444,353)
Gain from sales of digital assets	3,886		44,298
Impairment of digital assets	(4,406)		(231,315)
Payment of board fee	(316)		—
Digital assets, end of period	$	2,284	$	724

* As of December 31, 2023 and 2022, there was $1.7 million and $0.8 million, respectively, of digital asset receivable included in prepaid expenses and other current assets on the consolidated balance sheets.

Schedule of Fair Value of Energy Forward Purchase Contract

he following table summarizes the fair value of the energy forward purchase contract on the Company’s Consolidated Balance Sheets (in thousands):


		Fair Value (Level 2) as of December 31,
	Financial statement line item	2023		2022
Energy forward purchase contract	Accrued expenses and other current liabilities	$	2,262	$	—

Derivative Instruments, Gain (Loss)

The Company recorded the following gains/(losses) related to the energy forward purchase contract on the Company’s Consolidated Statements of Operations (in thousands):


		Year Ended December 31,
	Financial statement line item	2023		2022
Energy forward purchase contract	Change in fair value of derivative instruments	$	(3,918)	$	—