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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE:    
Total revenue $ 19,242 $ 19,333
OPERATING COSTS AND EXPENSES:    
Selling, general and administrative 2,776 5,393
Depreciation 3,131 3,234
Impairment of long-lived assets 0 169
Loss (gain) on digital assets 988 (59)
Loss on sale of assets 137 0
Gain on insurance proceeds (399) 0
Total operating costs and expenses 21,631 21,055
Operating loss (2,389) (1,722)
OTHER INCOME (EXPENSE), NET:    
Interest expense, net (2,855) (1,802)
Change in fair value of warrant asset 0 (420)
Loss on liquidation of subsidiary (348) 0
Other income, net 18 0
Total other expense, net (3,185) (2,222)
Loss from operations before income taxes (5,574) (3,944)
Benefit from income taxes (10) 0
Net loss (5,564) (3,944)
Comprehensive Loss    
Net loss (5,564) (3,944)
Foreign currency translation adjustment 0 (3)
Reclassification of foreign currency translation adjustment realized upon liquidation of foreign subsidiary 348 0
Comprehensive loss $ (5,216) $ (3,947)
Net loss per share, basic and diluted:    
Net loss per share, basic (in dollars per share) $ (0.40) $ (0.42)
Net loss per share, diluted (in dollars per share) $ (0.40) $ (0.42)
Weighted average shares outstanding, basic (in shares) 13,938,000 9,494,000
Weighted average shares outstanding, diluted (in shares) 13,938,000 9,494,000
Datacenter hosting    
REVENUE:    
Total revenue $ 5,829 $ 9,112
OPERATING COSTS AND EXPENSES:    
Cost of revenue 6,191 7,018
Cryptocurrency mining    
REVENUE:    
Total revenue 4,226 6,999
OPERATING COSTS AND EXPENSES:    
Cost of revenue 3,082 3,671
Power and capacity    
REVENUE:    
Total revenue 9,187 3,037
OPERATING COSTS AND EXPENSES:    
Cost of revenue 5,725 1,546
EPCM consulting services    
REVENUE:    
Total revenue 0 185
OPERATING COSTS AND EXPENSES:    
Cost of revenue $ 0 $ 83