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Consolidated Statements of Changes in Contingently Redeemable Convertible Preferred Stock and Stockholders’ Deficit - USD ($)
$ in Thousands
Total
Stock Issuance in Connection with Emergence
Stock Issuance for Equity Rights Offering
Issuance of new common stock for the Equity Rights Offering backstop commitment
Issuance of new common stock for Bitmain obligation
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjusted Balance
Contingently Redeemable
Convertible Preferred
Stock
Contingently Redeemable
Convertible Preferred
Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Common Stock
Stock Issuance in Connection with Emergence
Common Stock
Stock Issuance for Equity Rights Offering
Common Stock
Issuance of new common stock for the Equity Rights Offering backstop commitment
Common Stock
Issuance of new common stock for Bitmain obligation
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional
Paid-In Capital
Additional
Paid-In Capital
Stock Issuance in Connection with Emergence
Additional
Paid-In Capital
Stock Issuance for Equity Rights Offering
Additional
Paid-In Capital
Issuance of new common stock for the Equity Rights Offering backstop commitment
Additional
Paid-In Capital
Issuance of new common stock for Bitmain obligation
Additional
Paid-In Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated
Deficit
Accumulated
Deficit
Cumulative Effect, Period of Adoption, Adjustment
Accumulated
Deficit
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance (in shares) at Dec. 31, 2021               10,826,000                                    
Beginning balance at Dec. 31, 2021               $ 44,476                                    
Increase (Decrease) in Temporary Equity [Roll Forward]                                                    
Conversion of contingently redeemable preferred stock to common stock (in shares)               (10,826,000)                                    
Conversion of contingently redeemable preferred stock to common stock               $ (44,476)                                    
Ending balances (in shares) at Dec. 31, 2022               0                                    
Ending balance at Dec. 31, 2022               $ 0                                    
Beginning balance (in shares) at Dec. 31, 2021                   271,576,000                                
Beginning balance at Dec. 31, 2021 $ 1,341,210                 $ 27           $ 1,379,581           $ (27,432)     $ (10,966)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                    
Net loss (2,146,318)                                         (2,146,318)        
Other comprehensive income, net of income taxes 10,966                                               10,966  
Stock-based compensation 182,894                             182,894                    
Exercise of stock options (in shares)                   1,321,000                                
Exercise of stock options 3,846                             3,846                    
Restricted stock awards issued, net of tax withholding obligations (in shares)                   43,762,000                                
Restricted stock awards issued, net of shares withheld for tax withholding obligations (31,646)                 $ 4           (31,650)                    
Restricted stock awards forfeited (in shares)                   (2,456,000)                                
Costs attributable to issuance of common stock and equity instruments - Merger with XPDI (16,600)                                                  
Ending balance (in shares) at Dec. 31, 2022                   375,225,000                                
Ending balance at Dec. 31, 2022 $ (409,346)                 $ 36           1,764,368           (2,173,750)     0  
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2023-08 [Member]                                                  
Ending balances (in shares) at Dec. 31, 2023               0 0                                  
Ending balance at Dec. 31, 2023               $ 0 $ 0                                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                    
Net loss $ (246,487)                                         (246,487)        
Other comprehensive income, net of income taxes 0                                                  
Stock-based compensation 58,892                             58,892                    
Exercise of stock options (in shares)                   3,000                                
Restricted stock awards issued, net of tax withholding obligations (in shares)                   12,046,000                                
Restricted stock awards forfeited (in shares)                   (391,000)                                
Exercise of convertible notes (in shares)                   197,000                                
Exercise of convertible notes 1,574                             1,574                    
Cashless exercise of warrants (in shares)                   3,001,000                                
Issuances of common stock - equity line of credit (in shares)                   13,355,000                                
Issuances of common stock - equity line of credit 21,201                 $ 1           21,200                    
Conversion of contingently redeemable preferred stock to common stock (in shares)                   10,826,000                                
Conversion of contingently redeemable preferred stock to common stock 44,476                 $ 1           44,475                    
Issuances of common stock - Merger with XPDI (in shares)                   30,778,000                                
Issuances of common stock - Merger with XPDI 163,459                 $ 3           163,456                    
Issuances of common stock - financing transaction fees (in shares)                   1,285,000                                
Issuances of common stock - financing transaction fees 2,960                             2,960                    
Issuances of common stock - vendor settlement (in shares)                   1,580,000                                
Issuances of common stock - vendor settlement 12,674                             12,674                    
Costs attributable to issuance of common stock and equity instruments - Merger with XPDI $ (16,642)                             (16,642)                    
Ending balance (in shares) at Dec. 31, 2023 386,883,000                 386,883,000         386,883,000                      
Ending balance at Dec. 31, 2023 $ (596,941)         $ 24 $ (596,917)     $ 36         $ 36 1,823,260         $ 1,823,260 (2,420,237) $ 24 $ (2,420,213) 0 $ 0
Ending balances (in shares) at Dec. 31, 2024               0                                    
Ending balance at Dec. 31, 2024               $ 0                                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                    
Net loss (1,315,005)                                         (1,315,005)        
Other comprehensive income, net of income taxes 0                                                  
Stock-based compensation 52,411                             52,411                    
Cancellation of common stock in connection with emergence (in shares)                   (386,883,000)                                
Cancellation of common stock in connection with emergence 0                 $ (36)           36                    
Issuance of new common stock (in shares)                     152,576,000 15,649,000 2,111,000 10,735,000                        
Issuance of new common stock   $ 296,895 $ 55,000 $ 5,475 $ 27,839           $ 2           $ 296,893 $ 55,000 $ 5,475 $ 27,839            
Conversion premium on the issuance of the New Secured Convertible Notes 33,202                             33,202                    
Issuance of warrants $ (345,856)                             (345,856)                    
Exercise of stock options (in shares) 0                                                  
Exercise of stock options $ 9                             9                    
Restricted stock awards issued, net of tax withholding obligations (in shares)                   4,543,000                                
Restricted stock awards issued, net of shares withheld for tax withholding obligations (3,393)                             (3,393)                    
Restricted stock awards forfeited (in shares)                   (40,000)                                
Exercise of warrants (in shares)                   61,565,000                                
Exercise of warrants 704,711                 $ 1           704,710                    
Conversion of contingently redeemable preferred stock to common stock (in shares)                   44,585,000                                
Conversion of contingently redeemable preferred stock to common stock 261,772                             261,772                    
Issuance of new common stock for PIK interest (in shares)                   882,000                                
Issuance of new common stock for PIK interest $ 3,677                             3,677                    
Ending balance (in shares) at Dec. 31, 2024 292,606,000                 292,606,000                                
Ending balance at Dec. 31, 2024 $ (820,180)                 $ 3           $ 2,915,035           $ (3,735,218)     $ 0