v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 89,993 $ 274,065
Accounts receivable 1,172 475
Digital currency 0 476
Prepaid expenses 2,939 2,493
Other receivables 4,524 3,799
Other current assets 487 123
Total current assets 99,115 281,431
Property, plant and equipment, net 604,760 411,869
Goodwill 55,457 0
Operating lease right-of-use asset 92,735 85,898
Finance lease right-of-use asset 7,114 7,285
Restricted cash 1,425 0
Other assets 8,802 1,028
TOTAL ASSETS 869,408 787,511
CURRENT LIABILITIES:    
Accounts payable 38,834 24,382
Accrued construction liabilities 20,929 16,520
Accrued compensation 4,078 4,552
Accrued interest 2,292 2,559
Other accrued liabilities 6,135 2,414
Other amounts due to related parties 15 1,391
Deferred revenue 687 0
Contingent consideration liabilities 30,000 0
Current portion of deferred rent liability 47,716 0
Current portion of operating lease liability 616 25
Current portion of finance lease liability 2 2
Total current liabilities 151,304 51,845
Deferred rent liability, net of current portion 42,284 0
Operating lease liability, net of current portion 11,255 3,427
Finance lease liability, net of current portion 290 292
Convertible notes 488,716 487,502
Other liabilities 1,227 0
TOTAL LIABILITIES 695,076 543,066
Commitments and Contingencies (See Note 12)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value, 100,000,000 authorized at June 30, 2025 and December 31, 2024; 9,566 issued and outstanding at June 30, 2025 and December 31, 2024; aggregate liquidation preference of $13,248 and $12,609 at June 30, 2025 and December 31, 2024, respectively 9,273 9,273
Common stock, $0.001 par value, 600,000,000 authorized at June 30, 2025 and December 31, 2024; 414,599,543 and 404,223,028 issued and outstanding at June 30, 2025 and December 31, 2024, respectively 415 404
Additional paid-in capital 728,217 685,261
Treasury stock at cost, 24,468,750 and 18,568,750 at June 30, 2025 and December 31, 2024, respectively (151,509) (118,217)
Accumulated deficit (412,064) (332,276)
Total stockholders' equity 174,332 244,445
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 869,408 $ 787,511

Source

HTML PDF
ZIP