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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Operating Activities                
Net loss $ (8,093) $ (2,544) $ (4,997) $ (6,016) $ (7,432) $ (19,782) $ (22,705)  
Adjustments to reconcile net loss to net cash used in operating activities:                
Depreciation expense 1,500     1,200   4,634 2,387  
Amortization expense           7,116 7,111  
Stock-based compensation           3,286 3,709  
Deferred income taxes (547)     (569)   (1,806) (524)  
Impairment on fixed assets     41   130 418  
Provision for credit losses           611  
Amortization of operating lease asset           139 177  
Loss on debt extinguishment and revaluation, net (1,203)     769   7,495 2,350  
Amortization on deferred financing costs and discount on notes           179 748  
Loss on sale of fixed assets     373   21 404  
Changes in operating assets and liabilities:                
Accounts receivable           536 (1,552)  
Prepaid expenses and other current assets           (3,429) (484)  
Other long-term assets           (5,771) (307)  
Accounts payable           1,159 551  
Deferred revenue           (453)  
Operating lease liabilities           (141) (172)  
Other liabilities and customer deposits           (811) 1,294  
Accrued liabilities           3,022 2,644  
Net cash used in operating activities           (3,412) (4,404)  
Investing Activities                
Purchases of property, plant, and equipment           (3,820) (12,534)  
Purchases of intangible assets           (95) (49)  
Proceeds from disposal on property, plant, and equipment           215 2,266  
Deposits of equipment, net           (3,991) 200  
Net cash used in investing activities           (7,691) (10,117)  
Financing Activities                
Proceeds from common stock warrant exercises           2,330  
Proceeds from common stock securities purchase agreement offering           817  
Proceeds from notes and debt issuance           14,470 3,100  
Payments on Navitas loan and notes payable           (2,261) (510)  
Costs of common stock securities purchase agreement offering           (10)  
Payments on NYDIG loans and line of credit           (350)  
Contributions from non-controlling interest           5,098 19,706  
Distributions to non-controlling interest           (6,694)  
Net cash provided by financing activities           12,943 22,753  
Increase in cash & restricted cash           1,840 8,232  
Cash & restricted cash – beginning of period   $ 10,367 10,053   $ 1,821 10,367 1,821 $ 1,821
Cash & restricted cash – end of period $ 12,207   $ 10,367 $ 10,053   12,207 10,053 $ 10,367
Supplemental Disclosure of Cash Flow Information                
Interest paid on NYDIG loans and line of credit           115 567  
Interest paid on Navitas loan           103  
Warrant consideration in relation to convertible notes and revaluation of warrant liability           5,606 1,330  
Notes converted to common stock           5,877 2,444  
Noncash membership distribution accrual           741  
SEPA commitment payment           250  
Noncash disposal of NYDIG collateralized equipment           2,576  
Promissory note and interest conversion to common shares           845  
Noncash non-controlling interest contributions           1,440 2,746  
Noncash activity right-of-use assets obtained in exchange for lease obligations           403  
Series B preferred dividend in accrued expense           657  
Noncash note receivable from sale of equipment           $ 240