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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (38,095,300) $ (80,664,604)
Adjustments to reconcile net loss to cash flows from operating activities:    
Depreciation and amortization 27,428,863 26,025,021
Accretion of asset retirement obligation 41,230 39,153
Loss on disposal of fixed assets 2,189,252 108,367
Realized loss on sale of miner assets 494,087 0
Change in value of accounts receivable 399,192 1,867,506
Amortization of debt issuance costs 154,419 161,093
Stock-based compensation 5,093,193 7,603,859
Loss on debt extinguishment 0 28,960,947
Impairments on equipment deposits 0 5,422,338
Changes in fair value of warrant liabilities (8,445,247) (5,580,453)
Non-cash adjustments for loss contingencies 5,253,238 0
Other 584,510 (229,485)
(Increase) decrease in digital currencies:    
Mining revenue (51,963,137) (43,778,958)
Net proceeds from sale of digital currencies 54,737,513 42,563,545
Unrealized gain on digital currencies (113,438) 0
Impairments on digital currencies 0 683,241
(Increase) decrease in assets:    
Accounts receivable (1,133,062) 8,129,033
Prepaid insurance 4,218,459 5,174,903
Due from related parties (211,870) (91,617)
Inventory 1,381,634 1,328,373
Other assets (896,572) 9,666
Increase (decrease) in liabilities:    
Accounts payable (643,132) (1,445,109)
Due to related parties 730,357 (239,230)
Accrued liabilities (543,442) 875,203
Other liabilities, including contract liabilities 7,888,095 (211,225)
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES 8,548,842 (3,288,433)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (749,528) (14,743,269)
Proceeds from sale of property, plant and equipment, including CIP 221,212 0
NET CASH FLOWS USED IN INVESTING ACTIVITIES (528,316) (14,743,269)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of debt (3,668,304) (3,196,644)
Repayments of financed insurance premiums (4,075,388) (5,250,538)
Proceeds from debt, net of issuance costs paid in cash 0 (147,385)
Proceeds from private placements, net of issuance costs paid in cash 0 9,824,567
Proceeds from ATM, net of issuance costs paid in cash 0 8,483,982
Proceeds from exercise of warrants 0 316
NET CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES (7,743,692) 9,714,298
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 276,834 (8,317,404)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 4,214,613 13,296,703
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 4,491,447 $ 4,979,299