v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (43,797,000) $ (31,852,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt issuance costs, commitment fees and accretion of debt discount 8,307,000 4,435,000
Related party expense to be settled with respect to common stock 417,000  
Common stock issued for interest expense 26,000  
Stock-based compensation expense 2,610,000 482,000
Depreciation 11,861,000 204,000
Amortization of right-of-use asset 501,000 41,000
Increase in digital currency from mining and hosting services (24,206,000) (1,214,000)
Impairment of digital currency 1,309,000 563,000
Realized gain on sale of digital currency (1,186,000)  
Proceeds from sale of digital currency 28,501,000  
Equity in net loss of investee, net of tax 13,463,000 1,872,000
Loss from discontinued operations, net of tax 38,000 3,536,000
Changes in operating assets and liabilities:    
Decrease (increase) in prepaid expenses 1,623,000 (2,864,000)
Decrease in amounts due from related parties   815,000
Increase in other current assets (1,347,000) (344,000)
Decrease (increase) in other assets 28,000 (951,000)
Decrease in accounts payable (3,812,000) (398,000)
(Decrease) increase in other accrued liabilities (2,330,000) 1,876,000
(Decrease) increase in other amounts due to related parties (1,290,000) 351,000
Decrease in operating lease liability (20,000) (42,000)
Net cash used in operating activities from continuing operations (9,304,000) (23,490,000)
Cash flows used in operating activities from discontinued operations 294,000 (45,000)
Net cash used in operating activities (9,010,000) (23,535,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investments in joint venture, including direct payments made on behalf of joint venture (2,845,000) (36,367,000)
Reimbursable payments for deposits on plant and equipment made on behalf of a joint venture or joint venture partner   (11,622,000)
Reimbursement of payments for deposits on plant and equipment made on behalf of a joint venture or joint venture partner   11,540,000
Purchase of and deposits on plant and equipment (15,990,000) (45,469,000)
Payment of contingent value rights liability (9,598,000)  
Net cash used in investing activities (28,433,000) (81,918,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from insurance premium and property, plant and equipment financing 790,000 4,706,000
Principal payments on insurance premium and property, plant and equipment financing (2,450,000) (3,127,000)
Proceeds from issuance of common stock, net of issuance costs paid of $1,051 and $142 36,123,000 34,075,000
Proceeds from warrant issuances 2,500,000  
Payments of tax withholding related to net share settlements of stock-based compensation awards (852,000)  
Proceeds from issuance of preferred stock   9,566,000
Proceeds from issuance of convertible promissory note 1,250,000 14,700,000
Net cash provided by financing activities 37,361,000 59,920,000
Net change in cash and cash equivalents and restricted cash (82,000) (45,533,000)
Cash and cash equivalents and restricted cash at beginning of period 8,323,000 46,455,000
Cash and cash equivalents and restricted cash at end of period 8,241,000 922,000
Cash paid during the period for:    
Interest 11,252,000 4,946,000
Income taxes

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