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Condensed Consolidated Statements of Changes in Stockholders’ Deficit - USD ($)
shares in Thousands, $ in Thousands
Total
Issuance of new common stock in connection with emergence
Issuance of new common stock under the 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
Common Stock
Common Stock
Issuance of new common stock in connection with emergence
Common Stock
Issuance of new common stock under the 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
Issuance of new common stock in connection with emergence
Additional
Paid-In Capital
Issuance of new common stock under the 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
Beginning balance (in shares) at Dec. 31, 2023               386,883         386,883                  
Beginning 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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                            
Net income 210,691                                     210,691    
Stock-based compensation (1,060)                         (1,060)                
Cancellation of common stock in connection with emergence (in shares)               (386,883)                            
Cancellation of common stock in connection with emergence 0             $ (36)           36                
Issuance of new common stock (in shares)                 152,497 15,649 2,111 10,735                    
Issuance of new common stock   $ 296,496 $ 55,000 $ 5,475 $ 27,839       $ 2           $ 296,494 $ 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 9                         9                
Restricted stock awards issued, net of tax withholding obligations (in shares)               1,285                            
Restricted stock awards issued, net of tax withholding obligations (3,388)                         (3,388)                
Restricted stock awards forfeited (in shares)               (40)                            
Ending balance (in shares) at Mar. 31, 2024               182,237                            
Ending balance at Mar. 31, 2024 $ (318,509)             $ 2           1,891,011           (2,209,522)    
Beginning balance (in shares) at Dec. 31, 2024 292,606             292,606                            
Beginning balance at Dec. 31, 2024 $ (943,049)             $ 3           2,915,035           (3,858,087)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                            
Net income 576,251                                     576,251    
Stock-based compensation 16,405                         16,405                
Restricted stock awards issued, net of tax withholding obligations (in shares)               2,981                            
Restricted stock awards issued, net of tax withholding obligations (50)                         (50)                
Exercise of warrants (in shares)               3,500                            
Exercise of warrants $ 41,625                         41,625                
Ending balance (in shares) at Mar. 31, 2025 299,087             299,087                            
Ending balance at Mar. 31, 2025 $ (308,818)             $ 3           $ 2,973,015           $ (3,281,836)