v3.23.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue $ 18,955,000 $ 3,864,000 $ 45,944,000 $ 5,466,000
Cost of revenue (exclusive of depreciation shown below) 8,268,000 5,181,000 18,383,000 5,804,000
Gross profit (loss) 10,687,000 (1,317,000) 27,561,000 (338,000)
Cost of operations:        
Operating expenses 442,000 261,000 1,218,000 1,689,000
Operating expenses – related party 779,000 603,000 2,015,000 812,000
Selling, general and administrative expenses 5,767,000 5,934,000 18,137,000 16,253,000
Selling, general and administrative expenses – related party 4,519,000 2,948,000 10,093,000 8,187,000
Depreciation 8,224,000 1,515,000 20,085,000 1,719,000
Realized gain on sale of digital currency (697,000) (127,000) (1,883,000) (127,000)
Impairment of digital currency 922,000 119,000 2,231,000 682,000
Loss on disposals of property, plant, and equipment 420,000 0 420,000 0
Loss on nonmonetary miner exchange 0 804,000 0 804,000
Total cost of operations 20,376,000 12,057,000 52,316,000 30,019,000
Operating loss (9,689,000) (13,374,000) (24,755,000) (30,357,000)
Interest expense (10,251,000) (7,230,000) (25,535,000) (16,691,000)
Other income 59,000 0 113,000 0
Loss before income tax and equity in net loss of investee (19,881,000) (20,604,000) (50,177,000) (47,048,000)
Income tax (expense) benefit 0 256,000 0 256,000
Equity in net income (loss) of investee, net of tax 850,000 (12,739,000) (12,613,000) (14,611,000)
Loss from continuing operations (19,031,000) (33,087,000) (62,790,000) (61,403,000)
Loss from discontinued operations, net of tax (68,000) (901,000) (106,000) (4,437,000)
Net loss (19,099,000) (33,988,000) (62,896,000) (65,840,000)
Preferred stock dividends (272,000) (247,000) (796,000) (531,000)
Net loss available to common stockholders, basic (19,371,000) (34,235,000) (63,692,000) (66,371,000)
Net loss available to common stockholders, diluted $ (19,371,000) $ (34,235,000) $ (63,692,000) $ (66,371,000)
Loss per common share:        
Continuing operations, basic (in dollars per share) $ (0.09) $ (0.31) $ (0.32) $ (0.59)
Continuing operations, diluted (in dollars per share) (0.09) (0.31) (0.32) (0.59)
Discontinued operations, basic (in dollars per share) 0 (0.01) 0 (0.04)
Discontinued operations, diluted (in dollars per share) 0 (0.01) 0 (0.04)
Earnings per share, basic (in dollars per share) (0.09) (0.32) (0.32) (0.63)
Earnings per share, diluted (in dollars per share) $ (0.09) $ (0.32) $ (0.32) $ (0.63)
Weighted average common shares outstanding:        
Basic (in shares) 221,718,367 108,839,269 199,259,314 104,391,923
Diluted (in shares) 221,718,367 108,839,269 199,259,314 104,391,923

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