Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 270,483 $ 312,315
Accounts receivable 16,091 15,398
Costs and estimated earnings in excess of billings 13,779 9,862
Prepaid expenses and other current assets 12,999 7,135
Cryptocurrencies 126,574 159,544
Future power credits, current portion 54,477 58,481
Investments in marketable equity securities, at fair value 2,028 10,804
Total current assets 496,431 573,539
Property and equipment, net 411,244 262,980
Deposits 363,010 266,170
Intangible assets, net 13,371 14,162
Goodwill   349,063
Derivative asset 130,693 26,079
Right of use assets 21,166 13,189
Future power credits, less current portion 25,447
Other long-term assets 310 310
Total assets 1,436,225 1,530,939
Current liabilities    
Accounts payable 18,761 20,037
Billings in excess of costs and estimated earnings 6,389 5,264
Accrued compensation 3,247 5,927
Accrued expenses 13,524 16,144
Deferred revenue, current portion 2,651 2,843
Contingent consideration liability future power credits, current portion 54,477 58,481
Operating lease liability, current portion 1,518 1,182
Total current liabilities 100,567 109,878
Deferred revenue, less current portion 18,851 19,796
Operating lease liability, less current portion 19,968 12,257
Contingent consideration liability - future power credits, less current portion 25,447
Other long-term liabilities 8,274 6,241
Total liabilities 147,660 173,619
Commitments and contingencies - Note 16
Stockholders' equity    
Preferred stock, no par value, 15,000,000 shares authorized:
2% Series A Convertible stock, 2,000,000 shares authorized; no shares issued and outstanding as of June 30, 2022 and December 31, 2021
0% Series B Convertible stock, 1,750,001 shares authorized; no shares issued and outstanding as of June 30, 2022 and 2,199 shares issued and outstanding as of December 31, 2021, liquidation preference over common stock, equal to carrying value 11
Common stock, no par value; 170,000,000 shares authorized; 147,986,173 and 116,748,472 shares issued and outstanding as of June 30, 2022 and December 31, 2021 1,857,108 1,595,147
Accumulated deficit (568,543) (237,838)
Total stockholders' equity 1,288,565 1,357,320
Total liabilities and stockholders' equity $ 1,436,225 $ 1,530,939