v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue $ 34,405 $ 42,433
Costs and expenses:    
Cost of revenue (exclusive of depreciation shown below) 24,553 14,408
Depreciation 15,574 15,088
Loss (gain) on fair value of digital currency, net 870 (1,329)
Total costs and expenses 94,033 44,749
Operating loss (59,628) (2,316)
Interest expense (4,049) (11,045)
Loss on extinguishment of debt 0 (2,027)
Interest income 2,259 500
Loss before income tax and equity in net income of investee (61,418) (14,888)
Income tax benefit 0 0
Equity in net income of investee, net of tax 0 5,275
Net loss $ (61,418) $ (9,613)
Loss per common share:    
Basic (in dollars per share) $ (0.16) $ (0.03)
Diluted (in dollars per share) $ (0.16) $ (0.03)
Weighted average common shares outstanding:    
Basic (in shares) 383,149,511 290,602,725
diluted (in shares) 383,149,511 290,602,725
Nonrelated Party    
Costs and expenses:    
Operating expenses $ 1,144 $ 785
Selling, general and administrative expenses 46,573 12,289
Related Party    
Costs and expenses:    
Operating expenses 1,748 888
Selling, general and administrative expenses $ 3,571 $ 2,620

Source