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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from Operating Activities:      
Net loss $ (246,487) $ (2,146,318) $ 47,312
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 96,003 225,259 33,362
Amortization of operating lease right-of-use assets 442 834 0
Stock-based compensation 58,892 182,894 38,937
Digital asset mining income (390,333) (397,796) (216,925)
Deferred income taxes 0 (18,521) 9,528
Loss on legal settlements 0 0 2,636
Gain on sale of intangible assets 0 (5,904) 0
Gain (loss) on debt extinguishment (20,065) 287 8,016
Gain (loss) on issuance of notes payable through settlements 8,515 0 0
Fair value adjustment on derivative warrant liabilities 0 (37,937) 0
Fair value adjustment on convertible notes 0 186,853 31,217
Fair value adjustment on other liabilities 0 9,498 0
Equity line of credit expenses 0 1,668 0
Amortization of debt discount and debt issuance costs 752 7,135 1,374
Losses on disposals of property, plant and equipment 1,956 28,025 118
Impairment of digital assets 4,406 231,315 37,206
Impairment of goodwill, other intangibles and property, plant and equipment 0 1,649,938 0
Allowance for doubtful accounts 0 9,004 0
Reorganization 0 (199,707) 0
Changes in working capital components:      
Accounts receivable, net (767) (7,856) (7,421)
Accounts receivable from related parties 23 277 16
Digital assets 384,366 400,055 24,011
Deposits for equipment for sales to customers (2,403) 50,174 (244,399)
Prepaid expenses and other current assets (18,351) 51,818 (34,076)
Accounts payable 118,596 26,713 (21,991)
Accrued expenses and other current liabilities 130,382 17,229 56,200
Deferred revenue (47,807) 16,483 184,340
Deferred revenue from related parties 0 (72,449) 0
Other noncurrent assets and liabilities, net (13,006) (3,784) (6,196)
Net cash provided by (used in) operating activities 65,114 205,187 (56,735)
Cash flows from Investing Activities:      
Purchases of property, plant and equipment (16,161) (383,980) 0
Proceeds from sale of Cedarvale 13,998 0 0
Cash paid in acquisitions 0 0 (365,210)
Deposits (credits) for self-mining equipment 0 (217,677) 704
Proceeds from sales of coupons 0 10,850 (59,275)
Investments in internally developed software (833) 0 0
Other 0 29 (59)
Net cash used in investing activities (2,996) (590,778) (423,840)
Cash flows from Financing Activities:      
Proceeds from exercise of stock options and warrants 0 25,049 513
Proceeds from the XPDI merger, net of transaction costs 0 195,010 0
Proceeds from debt, net of issuance costs 0 261,349 670,750
Repurchase of common shares to pay employee withholding taxes 0 (31,646) 0
Principal repayments of finance leases (3,658) (30,319) (7,768)
Payment for transaction costs 0 0 (10,682)
Principal payments on debt (40,991) (113,290) (49,281)
Net cash (used in) provided by financing activities (44,649) 306,153 603,532
(Decrease) increase in cash, cash equivalents, and restricted cash 17,469 (79,438) 122,957
Cash, cash equivalents and restricted cash—beginning of period 52,240 131,678 8,721
Cash, cash equivalents and restricted cash—end of period 69,709 52,240 131,678
Supplemental disclosure of other cash flow information:      
Cash paid for interest 4,708 86,010 38,180
Income tax payments (370) 5,756 9,619
Cash paid for reorganization items, net 86,539 0 0
Supplemental disclosure of noncash investing and financing activities:      
Property, plant and equipment obtained in exchange transaction 0 62,338 0
Noncash consideration paid for acquisitions 0 0 1,138,838
Change in accrued capital expenditures 2,731 69,286 9,002
Increase in notes payable for acquisition of property, plant and equipment 0 0 0
Decrease in notes payable in exchange for equipment (38,610) 0 6,842
Cashless exercise of warrants 0 3,001 0
Property, plant and equipment acquired under finance leases 0 0 93,956
Payment-in-kind interest 0 31,382 7,274
Decrease in equipment related to debt extinguishment 17,849 0 0
Property, plant and equipment disposed of through settlements 6,301 0 0
Purchase of insurance policies financed by short-term note payable 5,011 0 0
Issuance of notes payable through settlements 38,547 0 0
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:      
Cash and cash equivalents 50,409 15,884 117,871
Restricted cash 19,300 36,356 13,807
Total cash, cash equivalents and restricted cash $ 69,709 $ 52,240 $ 131,678