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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2024
Dec. 31, 2023
ASSETS:    
Cash and cash equivalents $ 7,537,607 $ 4,214,613
Digital currencies 2,704 3,175,595
Accounts receivable 1,739,187 507,029
Inventory 4,085,923 4,196,812
Prepaid insurance 2,391,206 3,787,048
Due from related parties 97,288 97,288
Other current assets 2,215,805 1,675,084
Total current assets 18,069,720 17,653,469
Equipment deposits 0 8,000,643
Property, plant and equipment, net 144,269,680 144,642,771
Operating lease right-of-use assets 1,283,338 1,472,747
Land 1,748,440 1,748,440
Road bond 299,738 299,738
Security deposits 348,888 348,888
Other noncurrent assets 170,488 170,488
TOTAL ASSETS 166,190,292 174,337,184
LIABILITIES:    
Accounts payable 11,510,296 11,857,052
Accrued liabilities 9,599,950 10,787,895
Financed insurance premiums 1,513,704 2,927,508
Current portion of long-term debt, net of discounts and issuance fees 12,058,049 7,936,147
Current portion of operating lease liabilities 729,821 788,706
Due to related parties 619,947 718,838
Total current liabilities 36,031,767 35,016,146
Asset retirement obligation 1,089,471 1,075,728
Warrant liabilities 13,532,709 25,210,429
Long-term debt, net of discounts and issuance fees 43,153,392 48,203,762
Long-term operating lease liabilities 639,586 776,079
Contract liabilities 67,244 241,420
Total liabilities 94,514,169 110,523,564
COMMITMENTS AND CONTINGENCIES (NOTE 11)
REDEEMABLE COMMON STOCK:    
Redeemable common stock 9,704,926 20,416,116
STOCKHOLDERS’ EQUITY:    
Common Stock – Class A; $0.0001 par value; 685,440,000 shares authorized; 12,900,076 and 11,115,561 shares issued and outstanding as of March 31, 2024, and December 31, 2023, respectively. 1,290 1,112
Accumulated deficits (314,994,985) (331,647,755)
Additional paid-in capital 376,964,891 375,044,145
Total stockholders' equity 61,971,197 43,397,504
Total redeemable common stock and stockholders' equity 71,676,123 63,813,620
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' EQUITY 166,190,292 174,337,184
Series C convertible preferred stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value, issued $ 1 $ 1
Preferred stock, outstanding (in shares) 5,990 5,990
Preferred Units (in shares) 5,990 5,990
Series D convertible preferred stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value, issued $ 0 $ 1
Preferred stock, outstanding (in shares) 0 7,610
Preferred Units (in shares) 0 7,610