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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (46,660,562) $ (32,306,416)
Adjustments to reconcile net loss to cash flows from operating activities:    
Depreciation and amortization 7,722,841 12,319,581
Accretion of asset retirement obligation 13,051 6,084
Loss on disposal of fixed assets 91,086 44,958
Change in value of accounts receivable 1,002,750 0
Amortization of debt issuance costs 34,517 881,463
Stock-based compensation 2,449,324 2,592,995
Loss on debt extinguishment 28,960,947 0
Impairments on equipment deposits 0 12,228,742
Changes in fair value of warrant liabilities 714,589 0
Changes in fair value of forward sale derivative 0 483,749
Forward sale contract prepayment 0 970,000
Other (12,139) 0
(Increase) decrease in digital currencies:    
Mining revenue (12,921,075) (18,204,193)
Net proceeds from sales of digital currencies 12,286,573 12,247,300
Impairments on digital currencies 71,477 2,506,172
(Increase) decrease in assets:    
Accounts receivable 4,959,865 410,525
Prepaid insurance 1,336,037 1,852,595
Due from related parties (68,436) (864,624)
Inventory (229,175) (179,774)
Other assets (296,265) (37,242)
Increase (decrease) in liabilities:    
Accounts payable (1,390,895) (410,917)
Due to related parties 237,466 68,647
Accrued liabilities (1,518,296) 1,227,709
Other liabilities, including contract liabilities (125,146) (55,742)
NET CASH FLOWS USED IN OPERATING ACTIVITIES (3,341,466) (4,218,388)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (13,738) (38,157,218)
Equipment purchase deposits - net of future commitments 0 (6,482,000)
NET CASH FLOWS USED IN INVESTING ACTIVITIES (13,738) (44,639,218)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of debt (1,836,925) (9,290,668)
Repayments of financed insurance premiums (1,750,874) (1,832,149)
Proceeds from debt, net of issuance costs paid in cash 0 53,671,001
Proceeds from exercise of warrants 273 0
NET CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES (3,587,526) 42,548,184
NET DECREASE IN CASH AND CASH EQUIVALENTS (6,942,730) (6,309,422)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 13,296,703 31,790,115
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 6,353,973 $ 25,480,693