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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
ASSETS:    
Cash and cash equivalents $ 4,491,447 $ 4,214,613
Digital currencies 613,949 3,175,595
Accounts receivable 1,240,900 507,029
Inventory 2,815,178 4,196,812
Prepaid insurance 1,668,837 3,787,048
Due from related parties 90,538 97,288
Other current assets 1,898,404 1,675,084
Total current assets 12,819,253 17,653,469
Equipment deposits 0 8,000,643
Property, plant and equipment, net 124,971,766 144,642,771
Operating lease right-of-use assets 904,988 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 271,960 170,488
TOTAL ASSETS 141,365,033 174,337,184
LIABILITIES:    
Accounts payable 11,259,291 11,857,052
Accrued liabilities 13,846,663 10,787,895
Financed insurance premiums 952,369 2,927,508
Current portion of long-term debt, net of discounts and issuance fees 19,566,519 7,936,147
Current portion of operating lease liabilities 605,324 788,706
Due to related parties 1,449,195 718,838
Total current liabilities 47,679,361 35,016,146
Asset retirement obligation 1,116,958 1,075,728
Warrant liabilities 16,765,182 25,210,429
Long-term debt, net of discounts and issuance fees 33,879,516 48,203,762
Long-term operating lease liabilities 356,542 776,079
Other noncurrent liabilities 10,500,864 241,420
Total liabilities 110,298,423 110,523,564
COMMITMENTS AND CONTINGENCIES (NOTE 10)
REDEEMABLE COMMON STOCK:    
Redeemable common stock 11,536,161 20,416,116
STOCKHOLDERS’ EQUITY:    
Common Stock – Class A; $0.0001 par value; 238,000,000 shares authorized; 14,737,601 and 11,115,561 shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively. 1,474 1,112
Accumulated deficits (360,763,808) (331,647,755)
Additional paid-in capital 380,292,782 375,044,145
Total stockholders' equity 19,530,449 43,397,504
Total redeemable common stock and stockholders' equity 31,066,610 63,813,620
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' EQUITY 141,365,033 174,337,184
Series C convertible preferred stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value, issued 1 1
Series D convertible preferred stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value, issued $ 0 $ 1