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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net (Loss) income $ (2,452) $ 1,972
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 434 97
Stock based compensation 1,373 35
Consultant stock compensation 49
Recovery for excess and obsolete inventories (26) (41)
(Gain) loss on disposal of equipment (6) 3
Changes in operating assets and liabilities:    
Accounts receivable (52) (296)
Inventories (303) (161)
Prepaid expenses and other current assets (6,273) (138)
Other long-term assets (753) (302)
Accounts payable 3,698 (51)
Deferred revenue 237
Operating lease, net 9 3
Other liabilities 306 203
Accrued liabilities 981 192
Net cash (used in) provided by operating activities (2,778) 1,516
Investing Activities    
Purchases of equipment (17,670) (382)
Purchase of stock in equity investment (750)
Net cash used in investing activities (17,670) (1,132)
Financing Activities    
Proceeds from equity offering 17,250
Proceeds from preferred offering 20,165
Costs of equity offering (1,847)
Costs of preferred offering (1,867)
Cash dividends on preferred stock (176)
Proceeds from stock option exercises 101
Proceeds from common stock warrant exercises 9
Net cash provided by financing activities 33,635
Increase in cash 13,187 384
Cash - beginning of period 2,630 2,510
Cash - end of period 15,817 2,894
Supplemental Disclosure of Cash Flow Information    
Purchase of miner equipment using restricted stock (207)
S-1 fees in accounts payable $ (8)