v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue $ 47,636 $ 35,574 $ 82,041 $ 78,007
Costs and expenses:        
Cost of revenue (exclusive of depreciation shown below) 22,094 13,918 46,647 28,326
Depreciation 18,786 14,133 34,360 29,221
(Gain) loss on fair value of digital currency, net (887) 700 (17) (629)
Change in fair value of contingent consideration 1,600 0 1,600 0
Loss on disposals of property, plant, and equipment 3,831 0 3,831 0
Total costs and expenses 63,226 42,339 157,259 87,088
Operating loss (15,590) (6,765) (75,218) (9,081)
Interest expense (4,012) (5,325) (8,061) (16,370)
Loss on extinguishment of debt 0 0 0 (2,027)
Interest income 1,232 447 3,491 947
Loss before income tax and equity in net income of investee (18,370) (11,643) (79,788) (26,531)
Income tax benefit 0 0 0 0
Equity in net income of investee, net of tax 0 767 0 6,042
Net loss $ (18,370) $ (10,876) $ (79,788) $ (20,489)
Loss per common share:        
Basic (in dollars per share) $ (0.05) $ (0.03) $ (0.21) $ (0.07)
Diluted (in dollars per share) $ (0.05) $ (0.03) $ (0.21) $ (0.07)
Weighted average common shares outstanding:        
Basic (in shares) 386,895,095 340,662,826 385,032,650 315,714,178
Diluted (in shares) 386,895,095 340,662,826 385,032,650 315,714,178
Nonrelated Party        
Costs and expenses:        
Operating expenses $ 2,039 $ 797 $ 3,183 $ 1,582
Selling, general and administrative expenses 9,996 9,113 56,569 21,402
Related Party        
Costs and expenses:        
Operating expenses 1,475 875 3,223 1,763
Selling, general and administrative expenses $ 4,292 $ 2,803 $ 7,863 $ 5,423

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