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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (256,294,000) $ (189,833,000)
Net loss from discontinued operations (15,704,000) (5,895,000)
Net loss from continuing operations (240,590,000) (183,938,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 26,974,000 14,676,000
Amortization of debt discount 21,507,000 29,581,000
Amortization of right-of-use assets 2,882,000 1,745,000
Other expense, guarantee 35,400,000
Deferred tax benefit (5,000,000)
Impairment of goodwill and intangible assets 47,561,000 13,064,000
Impairment of property and equipment 18,161,000 79,556,000
Stock-based compensation 10,868,000 7,202,000
Impairment of deposit due to vendor bankruptcy filing 2,000,000
Accretion of original issue discount on notes receivable (5,549,000)
Gain on the sale of fixed assets (2,069,000)
Impairment of equity securities 15,755,000 11,500,000
Impairment of digital currencies 489,000 3,099,000
Realized gain on the sale of digital currencies (520,000) (1,045,000)
Revenue, digital currencies mining (33,107,000) (16,693,000)
Realized gains on sale of marketable securities (8,437,000) (12,111,000)
Unrealized (gains) losses on marketable securities (2,509,000) 13,889,000
Unrealized losses on investments in common stock, related parties 5,785,000 11,682,000
Unrealized gains on equity securities (41,994,000)
Income from cash held in trust (2,590,000)
Loss from investment in unconsolidated entity 302,000 924,000
Loss on remeasurement of investment in unconsolidated entity 2,700,000
Provision for loan losses 1,180,000
Change in the fair value of warrant and derivative liabilities (4,544,000) 1,672,000
Loss on extinguishment of debt 12,883,000
Loss on deconsolidation of subsidiary 3,040,000
Other (1,173,000) (1,004,000)
Changes in operating assets and liabilities:    
Proceeds from the sale of digital currencies 29,111,000 15,832,000
Marketable equity securities 46,457,000 78,951,000
Accounts receivable (415,000) (58,000)
Inventories 4,312,000 (1,068,000)
Prepaid expenses and other current assets 3,214,000 3,802,000
Other assets (3,232,000) (3,969,000)
Accounts payable and accrued expenses 15,662,000 9,466,000
Lease liabilities (3,187,000) (1,919,000)
Net cash (used in) provided by operating activities from continuing operations (830,000) 26,993,000
Net cash used in operating activities from discontinued operations (4,598,000) (504,000)
Net cash (used in) provided by operating activities (5,428,000) 26,489,000
Cash flows from investing activities:    
Purchase of property and equipment (8,666,000) (99,305,000)
Investment in promissory notes and other, related parties (2,200,000)
Investments in common stock and warrants, related parties (4,901,000)
Purchase of SMC, net of cash received (8,239,000)
Purchase of GIGA, net of cash received (3,687,000)
Cash received upon acquisition of AVLP 1,245,000
Purchase of Circle 8, net of cash received (11,101,000)
Purchase of Eco Pack, net of cash received (132,000)
Cash decrease upon deconsolidation of subsidiary (6,285,000)
Acquisition of non-controlling interests (1,072,000) (4,265,000)
Purchase of marketable equity securities (2,017,000)
Sales of marketable equity securities 11,748,000
Investments in loans receivable (501,000) (11,309,000)
Principal payments on loans receivable 11,050,000
Investments in non-marketable equity securities (10,952,000) (26,551,000)
Proceeds from the sale of fixed assets 4,515,000
Other (78,000)
Net cash used in investing activities from continuing operations (23,171,000) (149,532,000)
Net cash used in investing activities from discontinued operations (6,347,000) (9,111,000)
Net cash used in investing activities (29,518,000) (158,643,000)
Cash flows from financing activities:    
Gross proceeds from sales of Class A common stock 39,415,000 172,253,000
Financing cost in connection with sales of Class A common stock (1,344,000) (4,210,000)
Proceeds from sales of Series D preferred stock 2,983,000 4,321,000
Financing cost in connection with sales of Series D preferred stock (105,000) (811,000)
Proceeds from sales of Series C preferred stock, related party 3,841,000
Financing cost in connection with sales of Series C preferred stock, related party (500,000)
Proceeds from subsidiaries’ sale of stock to non-controlling interests 7,342,000
Distribution to Circle 8 non-controlling interest (729,000)
Proceeds from notes payable 38,782,000 53,314,000
Proceeds from convertible notes payable, related party 4,625,000
Proceeds from notes payable, related party 2,337,000
Repayment of margin accounts (767,000) (17,721,000)
Payments on notes payable (65,049,000) (73,927,000)
Payments on convertible notes payable, related party (150,000)
Payments on notes payable, related party (314,000)
Payments of preferred dividends (1,375,000) (393,000)
Purchase of treasury stock (1,336,000) (16,054,000)
Proceeds from sales of convertible notes 5,165,000
Payments on convertible notes (1,022,000)
Net cash provided by financing activities from continuing operations 31,799,000 116,772,000
Net cash provided by financing activities from discontinued operations 5,237,000 7,340,000
Net cash provided by financing activities 37,036,000 124,112,000
Effect of exchange rate changes on cash and cash equivalents (776,000) 864,000
Net increase (decrease in cash and cash equivalents and restricted cash 1,314,000 (7,178,000)
Cash and cash equivalents and restricted cash at beginning of period - continuing operations 8,674,000 14,842,000
Cash and cash equivalents and restricted cash at beginning of period - discontinued operations 5,381,000 6,391,000
Cash and cash equivalents and restricted cash at beginning of period 14,055,000 21,233,000
Cash and cash equivalents and restricted cash at end of period 15,369,000 14,055,000
Less cash and cash equivalents and restricted cash of discontinued operations at end of period (1,777,000) (5,381,000)
Cash and cash equivalents and restricted cash of continued operations at end of period 13,592,000 8,674,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest - continuing operations 4,744,000 8,294,000
Cash paid during the period for interest - discontinued operations 7,506,000 4,813,000
Non-cash investing and financing activities:    
Settlement of accounts payable with digital currency 28,000 418,000
Conversion of investment in unconsolidated entity for acquisition of AVLP 20,706,000
Conversion of convertible notes payable, related party into shares of Class A common stock 400,000 400,000
Conversion of debt and equity securities to marketable securities 23,703,000 44,782,000
Conversion of loans receivable to marketable securities 5,430,000 11,502,000
Conversion of interest receivable to marketable securities 386,000
Recognition of new operating lease right-of-use assets and lease liabilities $ 4,372,000 $ 2,198,000
Remeasurement of Ault Disruptive temporary equity 5,990,000 1,268,000
Preferred stock exchanged for notes payable 9,224,000
Notes payable exchanged for notes payable, related party $ 11,645,000
Redeemable non-controlling interests in equity of subsidiaries paid with cash and marketable securities held in trust account 120,064,000
Dividend paid in TurnOnGreen common stock in additional paid-in capital 10,700,000
Exchange of notes payable for preferred stock liabilities 8,437,000
Exchange of notes payable for preferred stock, related party 20,194,000
Exchange of convertible notes payable for preferred stock, related party 17,370,000
Exchange of preferred stock for convertible notes payable, related party 1,250,000
Fair value of warrants and Class A common stock issued in connection with notes 2,491,000
Debt discount from accrued lender profit participation rights 6,000,000
Prepaid expenditures capitalized to property and equipment $ 2,150,000