v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 274,065 $ 54,439
Digital currency 476 1,801
Prepaid expenses 2,493 4,540
Other receivables 3,799 1,001
Other current assets 598 806
Total current assets 281,431 62,587
Equity in net assets of investee 0 98,613
Property, plant and equipment, net 411,869 205,284
Operating lease right-of-use asset 85,898 10,943
Finance lease right-of-use asset 7,285 0
Other assets 1,028 679
TOTAL ASSETS 787,511 378,106
CURRENT LIABILITIES:    
Accounts payable 24,382 15,169
Accrued construction liabilities 16,520 1,526
Accrued compensation 4,552 4,413
Other accrued liabilities 4,973 4,766
Share based liabilities due to related party 0 2,500
Other amounts due to related parties 1,391 972
Current portion of operating lease liability 25 48
Current portion of finance lease liability 2 0
Insurance premium financing payable 0 1,803
Current portion of long-term debt 0 123,465
Total current liabilities 51,845 154,662
Operating lease liability, net of current portion 3,427 899
Finance lease liability, net of current portion 292 0
Long-term debt 0 56
Convertible notes 487,502 0
TOTAL LIABILITIES 543,066 155,617
Commitments and Contingencies (See Note 12)
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.001 par value, 100,000,000 authorized at December 31, 2024 and 2023; 9,566 shares issued and outstanding at December 31, 2024 and 2023; aggregate liquidation preference of $12,609 and $11,423 at December 31, 2024 and 2023, respectively. 9,273 9,273
Common stock, $0.001 par value, 600,000,000 and 400,000,000 authorized at December 31, 2024 and 2023, respectively; 404,223,028 and 276,733,329 issued and outstanding at December 31, 2024 and 2023, respectively. 404 277
Additional paid-in capital 685,261 472,834
Treasury Stock at cost, 18,568,750 and 0 at December 31, 2024 and 2023, respectively (118,217) 0
Accumulated deficit (332,276) (259,895)
Total stockholders' equity 244,445 222,489
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 787,511 $ 378,106

Source