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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 5,842,289 $ (46,660,562)
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Depreciation and amortization 9,514,654 7,722,841
Accretion of asset retirement obligation 13,743 13,051
Loss on disposal of fixed assets 0 91,086
Realized gain on sale of miner assets (36,012) 0
Change in value of accounts receivable 213,040 1,002,750
Amortization of debt issuance costs 51,473 34,517
Stock-based compensation 1,939,120 2,449,324
Loss on debt extinguishment 0 28,960,947
Changes in fair value of warrant liabilities (11,677,720) 714,589
Other 199,844 (12,139)
(Increase) decrease in digital currencies:    
Mining revenue (25,114,221) (12,921,075)
Net proceeds from sale of digital currencies 28,387,631 12,286,573
Unrealized gain on digital currencies (1,227) 0
Impairments on digital currencies 0 71,477
(Increase) decrease in assets:    
Accounts receivable (1,445,198) 4,959,865
Prepaid insurance 1,395,842 1,336,037
Due from related parties 0 (68,436)
Inventory 110,889 (229,175)
Other assets (1,092,745) (296,265)
Increase (decrease) in liabilities:    
Accounts payable (400,907) (1,390,895)
Due to related parties (98,891) 237,466
Accrued liabilities (1,637,806) (1,518,296)
Other liabilities, including contract liabilities (302,388) (125,146)
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES 5,861,410 (3,341,466)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (244,605) (13,738)
Proceeds from sale of property, plant and equipment, including CIP 180,000 0
NET CASH FLOWS USED IN INVESTING ACTIVITIES (64,605) (13,738)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of debt (1,060,008) (1,836,925)
Repayments of financed insurance premiums (1,413,803) (1,750,874)
Proceeds from exercise of warrants 0 273
NET CASH FLOWS USED IN FINANCING ACTIVITIES (2,473,811) (3,587,526)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,322,994 (6,942,730)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 4,214,613 13,296,703
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 7,537,607 $ 6,353,973