v3.24.1.1.u2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue $ 42,433,000 $ 11,533,000
Cost of revenue (exclusive of depreciation shown below) 14,408,000 5,002,000
Gross profit 28,025,000 6,531,000
Cost of operations:    
Depreciation 15,088,000 5,433,000
Gain on fair value of digital currency, net (1,329,000) 0
Realized gain on sale of digital currency 0 (603,000)
Impairment of digital currency 0 627,000
Total cost of operations 30,341,000 15,752,000
Operating loss (2,316,000) (9,221,000)
Interest expense (11,045,000) (6,834,000)
Loss on extinguishment of debt (2,027,000) 0
Other income 500,000 0
Loss before income tax and equity in net income (loss) of investee (14,888,000) (16,055,000)
Income tax benefit 0 0
Equity in net income (loss) of investee, net of tax 5,275,000 (10,167,000)
Loss from continuing operations (9,613,000) (26,222,000)
Loss from discontinued operations, net of tax 0 (35,000)
Net loss (9,613,000) (26,257,000)
Preferred stock dividends (286,000) (259,000)
Net loss available to common stockholders, basic (9,899,000) (26,516,000)
Net loss available to common stockholders, diluted $ (9,899,000) $ (26,516,000)
Loss per common share:    
Continuing operations, basic (in dollars per share) $ (0.03) $ (0.16)
Continuing operations, diluted (in dollars per share) (0.03) (0.16)
Discontinued operations, basic (in dollars per share) 0 0
Discontinued operations, diluted (in dollars per share) 0 0
Earnings per share, basic (in dollars per share) (0.03) (0.16)
Earnings per share, diluted (in dollars per share) $ (0.03) $ (0.16)
Weighted average common shares outstanding:    
Basic (in shares) 290,602,725 165,015,228
Diluted (in shares) 290,602,725 165,015,228
Nonrelated Party    
Cost of operations:    
Operating expenses $ 785,000 $ 308,000
Selling, general and administrative expenses 12,289,000 6,492,000
Related Party    
Cost of operations:    
Operating expenses 888,000 597,000
Selling, general and administrative expenses $ 2,620,000 $ 2,898,000

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