LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt consisted of the following as of:

	December 31, 2021			December 31, 2020
$66,076 loan, with interest at 5.55%, due July 2021.	$	3,054		$	16,440
$75,000 loan, with interest at 12.67%, due April 2021.	7,312			14,934
$142,000 loan, with interest at 11.21%, due April 2021.	—			18,056
$70,000 loan, with interest at 11.92%, due April 2021.	—			8,974
$499,520 loan, with interest at 2.49% due December 2023.	232,337			333,599
$499,895 loan, with interest at 2.95% due July 2023.	246,720			371,490
$212,675 loan, with interest at 6.75% due October 2022.	103,857			168,397
$517,465 loan, with interest at 4.78% due October 2024.	490,600			—
$431,825 loan, with interest at 7.60% due April 2024.	204,833			—
financing agreement for insurance with interest at 3.45% due July 2022.	4,299,721			—
$40,000,000 loan, with interest at 10.00% due June 2023.	30,734,045		[A]	—
$10,641,362 loan, with interest at 10.00% due June 2023.	8,176,302		[B]	—
$14,077,800 loan, with interest at 10.00% due June 2023.	10,816,694		[C]	—
$17,984,000 maximum advance loan, interest at 9.99% due December 2023. Balance is what has been advanced as of December 31, 2021.	10,790,400		[D]	—
$17,984,000 maximum advance loan, with interest at 9.99% due December 2023. Balance is what has been advanced as of December 31, 2021.	7,769,088		[E]	—
$17,984,000 maximum advance loan, 2022 with interest at 9.99% due December 2023. Balance is what has been advanced as of December 31, 2021.	—		[F]	—
	73,874,963			931,890
Less current portions, deferred costs, & discounts
Outstanding loans	50,099,372			449,447
Deferred debt issuance costs	2,854,787			—
Discounts from issuance of stock	1,042,416			—
Discounts from issuance of warrants	1,499,547			—
	$	18,378,841		$	482,443

[A] The WhiteHawk Promissory Note has a term of 24 months. Refer to Note 14 – Stock Issued Under Financing Agreements and Warrants for further discussions. On December 31, 2021, the Company amended the WhiteHawk Financing Agreement (the “WhiteHawk Amendment”) to extend the final MinerVa delivery date from December 31, 2021 to April 30, 2022. Pursuant to the WhiteHawk Amendment, Equipment paid an amendment fee in the amount of $250,000 to WhiteHawk. These fees are included in deferred debt issuance costs.

[B] Arctos/NYDIG Financing Agreement [loan #1] with a term of 24. Refer to Note 14 - Stock Issued Under Financing Agreements and Warrants for further discussions. Refer to Note 32 - Subsequent Events for details of the amendment to this agreement.

[C] Arctos/NYDIG Financing Agreement [loan #2] with a term of 24. Refer to Note 14 - Stock Issued Under Financing Agreements and Warrants for further discussions. Refer to Note 32 - Subsequent Events for details of the amendment to this agreement.

[D] NYDIG ABL Master Equipment Finance Agreement with a term of 24. Deferred debt issuance costs of $449,600 are amortized over the term of the loan using the straight-line method. Refer to Note 32 - Subsequent Events for further advances after December 31, 2021.

[E] NYDIG ABL Master Equipment Finance Agreement with a term of 24. Deferred debt issuance costs of $449,600 are amortized over the term of the loan using the straight-line method. Refer to Note 32 - Subsequent Events for further advances after December 31, 2021.

[F] NYDIG ABL Master Equipment Finance Agreement with a term of 24. Deferred debt issuance costs of $449,600 are amortized over the term of the loan using the straight-line method. Refer to Note 32 - Subsequent Events for further advances after December 31, 2021.

Future Scheduled Maturities on the Outstanding Borrowings

Future scheduled maturities on the outstanding borrowings for each of the next three years as of December 31, 2021 are as follows:

Years ending December 31:
2022	$	51,777,764
2023	21,955,328
2024	141,871
	$	73,874,963