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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
ASSETS:    
Cash and cash equivalents $ 4,214,613 $ 13,296,703
Digital currencies 3,175,595 109,827
Accounts receivable 507,029 10,837,126
Inventory 4,196,812 4,471,657
Prepaid insurance 3,787,048 4,877,935
Due from related parties 97,288 73,122
Other current assets 1,675,084 1,975,300
Total current assets 17,653,469 35,641,670
Equipment deposits 8,000,643 10,081,307
Property, plant and equipment, net 144,642,771 167,204,681
Operating lease right-of-use assets 1,472,747 1,719,037
Land 1,748,440 1,748,440
Road bond 299,738 211,958
Security deposits 348,888 348,888
Other noncurrent assets 170,488 0
TOTAL ASSETS 174,337,184 216,955,981
LIABILITIES:    
Accounts payable 11,857,052 27,540,317
Accrued liabilities 10,787,895 8,893,248
Financed insurance premiums 2,927,508 4,587,935
Current portion of long-term debt, net of discounts and issuance fees 7,936,147 17,422,546
Current portion of operating lease liabilities 788,706 593,063
Due to related parties 718,838 1,375,049
Total current liabilities 35,016,146 60,412,158
Asset retirement obligation 1,075,728 1,023,524
Warrant liabilities 25,210,429 2,131,959
Long-term debt, net of discounts and issuance fees 48,203,762 57,027,118
Long-term operating lease liabilities 776,079 1,230,001
Contract liabilities 241,420 351,490
Total liabilities 110,523,564 122,176,250
COMMITMENTS AND CONTINGENCIES (NOTE 11)
REDEEMABLE COMMON STOCK:    
Redeemable common stock 20,416,116 11,754,587
STOCKHOLDERS’ EQUITY (DEFICIT):    
Common Stock – Class A; $0.0001 par value; 685,440,000 shares authorized; 11,115,561 and 3,171,022 shares issued and outstanding as of December 31, 2023, and 2022, respectively. 1,112 317
Accumulated deficits (331,647,755) (240,443,302)
Additional paid-in capital 375,044,145 323,468,129
Total stockholders' equity 43,397,504 83,025,144
Total redeemable common stock and stockholders' equity 63,813,620 94,779,731
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' EQUITY 174,337,184 216,955,981
Convertible Preferred Stock, Series C    
STOCKHOLDERS’ EQUITY (DEFICIT):    
Preferred stock, value, issued 1 0
Convertible Preferred Stock, Series D    
STOCKHOLDERS’ EQUITY (DEFICIT):    
Preferred stock, value, issued $ 1 $ 0