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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE:        
Total revenue $ 12,351,000 $ 20,879,000 $ 44,741,000 $ 50,746,000
OPERATING COSTS AND EXPENSES:        
Selling, general and administrative 3,730,000 6,662,000 13,394,000 22,724,000
Depreciation 3,390,000 3,383,000 9,909,000 10,368,000
Impairment of long-lived assets 0 4,000,000 169,000 4,000,000
Gain on digital assets (156,000) 0 (204,000) 0
Loss (gain) on sale of assets 693,000 0 661,000 (1,752,000)
Remeasurement of environmental liability 0 1,600,000 0 1,600,000
Total operating costs and expenses 16,961,000 31,000,000 54,867,000 73,171,000
Operating loss (4,610,000) (10,121,000) (10,126,000) (22,425,000)
OTHER INCOME (EXPENSE), NET:        
Interest expense, net (1,832,000) (3,040,000) (5,439,000) (9,725,000)
Change in fair value of warrant asset 0 0 (420,000) 0
Gain on sale of digital assets 0 0 0 398,000
Other expense, net 0 0 0 (4,000)
Total other expense, net (1,832,000) (3,040,000) (5,859,000) (9,331,000)
Loss from continuing operations before income taxes (6,442,000) (13,161,000) (15,985,000) (31,756,000)
Benefit from income taxes (118,000) 0 (118,000) 0
Net loss from continuing operations (6,324,000) (13,161,000) (15,867,000) (31,756,000)
Loss from discontinued operations, net of tax (43,000) (1,078,000) (12,000) (696,000)
Net loss (6,367,000) (14,239,000) (15,879,000) (32,452,000)
Comprehensive Loss        
Net loss (6,367,000) (14,239,000) (15,879,000) (32,452,000)
Foreign currency translation adjustment 0 (12,000) (3,000) 15,000
Comprehensive loss $ (6,367,000) $ (14,251,000) $ (15,882,000) $ (32,437,000)
Net (loss) income per share, basic and diluted:        
Net loss per share from continuing operations, basic (in dollars per share) $ (0.60) $ (1.81) $ (1.58) $ (5.01)
Net loss per share from continuing operations, diluted (in dollars per share) (0.60) (1.81) (1.58) (5.01)
Loss per share from discontinued operations, basic (in dollars per share) 0.00 (0.15) 0 (0.11)
Loss per share from discontinued operations, diluted (in dollars per share) 0 (0.15) 0 (0.11)
Net loss per share, basic (in dollars per share) (0.60) (1.96) (1.58) (5.12)
Net loss per share, diluted (in dollars per share) $ (0.60) $ (1.96) $ (1.58) $ (5.12)
Weighted Average Number of Shares Outstanding Reconciliation        
Weighted average shares outstanding, basic (in shares) 10,652,000 7,262,000 10,040,000 6,341,000
Weighted average shares outstanding, diluted (in shares) 10,652,000 7,262,000 10,040,000 6,341,000
Datacenter hosting        
REVENUE:        
Total revenue $ 6,490,000 $ 12,136,000 $ 22,247,000 $ 28,740,000
OPERATING COSTS AND EXPENSES:        
Cost of revenue 4,941,000 9,432,000 16,644,000 20,830,000
Cryptocurrency mining        
REVENUE:        
Total revenue 3,267,000 6,602,000 15,041,000 17,033,000
OPERATING COSTS AND EXPENSES:        
Cost of revenue 2,599,000 4,458,000 9,504,000 10,639,000
Power and capacity        
REVENUE:        
Total revenue 2,594,000 2,141,000 7,118,000 4,973,000
OPERATING COSTS AND EXPENSES:        
Cost of revenue 1,764,000 1,465,000 4,607,000 4,762,000
EPCM consulting services        
REVENUE:        
Total revenue 0 0 335,000 0
OPERATING COSTS AND EXPENSES:        
Cost of revenue $ 0 $ 0 $ 183,000 $ 0