v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 158,272 $ 230,328
Restricted cash 29,498  
Accounts receivable, net 19,837 26,932
Contract assets, including retainage of $3,970 13,718 19,743
Prepaid expenses and other current assets 22,233 32,661
Bitcoin 121,850 109,420
Future power credits, current portion 271 24,297
Total current assets 365,679 443,381
Property and equipment, net 717,310 692,555
Deposits 32,205 42,433
Finite-lived intangible assets, net 20,072 21,477
Derivative asset 91,719 97,497
Operating lease right-of-use assets 21,769 21,673
Future power credits, less current portion 638 638
Other long-term assets 923 310
Total assets 1,250,315 1,319,964
Current liabilities    
Accounts payable 19,685 18,445
Contract liabilities, net of retainage of $3,970 5,345 8,446
Accrued expenses 82,666 65,464
Deferred revenue, current portion 2,776 2,882
Contingent consideration liability - future power credits, current portion 271 24,297
Operating lease liability, current portion 1,323 2,009
Total current liabilities 112,066 121,543
Deferred revenue, less current portion 17,365 17,869
Operating lease liability, less current portion 20,997 20,242
Contingent consideration liability - future power credits, less current portion 638 638
Other long-term liabilities 7,104 8,230
Total liabilities 158,170 168,522
Commitments and contingencies - Note 16
Stockholders' equity    
Preferred stock, no par value, 15,000,000 shares authorized:
Common stock, no par value; 340,000,000 shares authorized; 166,966,766 and 167,751,112 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 1,904,175 1,907,784
Accumulated deficit (812,030) (756,342)
Total stockholders' equity 1,092,145 1,151,442
Total liabilities and stockholders' equity $ 1,250,315 $ 1,319,964

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