| Schedule of reportable segments and operating income |
| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| Reportable segment revenue, net: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mining |
|
$ |
46,151 |
|
|
$ |
31,450 |
|
|
$ |
104,096 |
|
|
$ |
54,623 |
|
| Data Center Hosting |
|
|
23,577 |
|
|
|
2,874 |
|
|
|
44,616 |
|
|
|
2,874 |
|
| Engineering |
|
|
19,512 |
|
|
|
— |
|
|
|
34,750 |
|
|
|
— |
|
| Other revenue |
|
|
24 |
|
|
|
24 |
|
|
|
48 |
|
|
|
48 |
|
| Eliminations |
|
|
(16,317 |
) |
|
|
— |
|
|
|
(30,776 |
) |
|
|
— |
|
| Total segment and consolidated revenue |
|
|
72,947 |
|
|
|
34,348 |
|
|
|
152,734 |
|
|
|
57,545 |
|
| Reportable segment cost of revenues (exclusive of depreciation and amortization shown below): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mining |
|
|
20,913 |
|
|
|
9,325 |
|
|
|
44,844 |
|
|
|
16,859 |
|
| Data Center Hosting |
|
|
26,012 |
|
|
|
3,736 |
|
|
|
47,504 |
|
|
|
3,736 |
|
| Engineering |
|
|
16,983 |
|
|
|
— |
|
|
|
30,535 |
|
|
|
— |
|
| Eliminations |
|
|
(15,554 |
) |
|
|
— |
|
|
|
(28,901 |
) |
|
|
— |
|
| Total segment and consolidated cost of revenues (exclusive of depreciation and amortization shown below) |
|
|
48,354 |
|
|
|
13,061 |
|
|
|
93,982 |
|
|
|
20,595 |
|
| Reconciling Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisition-related costs |
|
|
— |
|
|
|
(17,032 |
) |
|
|
(78 |
) |
|
|
(18,342 |
) |
| Selling, general and administrative |
|
|
(10,713 |
) |
|
|
(3,512 |
) |
|
|
(21,545 |
) |
|
|
(7,664 |
) |
| Depreciation and amortization |
|
|
(20,562 |
) |
|
|
(5,738 |
) |
|
|
(34,807 |
) |
|
|
(8,584 |
) |
| Change in fair value of derivative asset |
|
|
60,931 |
|
|
|
16,393 |
|
|
|
104,614 |
|
|
|
16,393 |
|
| Power curtailment credits |
|
|
5,706 |
|
|
|
1,143 |
|
|
|
8,258 |
|
|
|
1,143 |
|
| Change in fair value of contingent consideration |
|
|
— |
|
|
|
(185 |
) |
|
|
(176 |
) |
|
|
(185 |
) |
| Realized gain on sale/exchange of cryptocurrencies |
|
|
14,353 |
|
|
|
29 |
|
|
|
23,589 |
|
|
|
29 |
|
| Gain on exchange of equipment |
|
|
8,614 |
|
|
|
— |
|
|
|
8,614 |
|
|
|
— |
|
| Impairment of cryptocurrencies |
|
|
(99,787 |
) |
|
|
(17,507 |
) |
|
|
(126,177 |
) |
|
|
(17,507 |
) |
| Impairment of goodwill |
|
|
(349,148 |
) |
|
|
— |
|
|
|
(349,148 |
) |
|
|
— |
|
| Interest income (expense) |
|
|
— |
|
|
|
80 |
|
|
|
(357 |
) |
|
|
255 |
|
| Realized loss on sale of marketable equity securities |
|
|
(1,624 |
) |
|
|
— |
|
|
|
(1,624 |
) |
|
|
— |
|
| Realized gain on sale/exchange of long-term investment |
|
|
— |
|
|
|
26,260 |
|
|
|
— |
|
|
|
26,260 |
|
| Unrealized gain (loss) on marketable equity securities |
|
|
(4,837 |
) |
|
|
339 |
|
|
|
(6,448 |
) |
|
|
339 |
|
| Other income (expense) |
|
|
(59 |
) |
|
|
1,510 |
|
|
|
(59 |
) |
|
|
1,510 |
|
| Current income tax benefit (expense) |
|
|
(427 |
) |
|
|
— |
|
|
|
(739 |
) |
|
|
— |
|
| Deferred income tax benefit (expense) |
|
|
6,626 |
|
|
|
(3,730 |
) |
|
|
6,626 |
|
|
|
(3,730 |
) |
| Net income (loss) |
|
$ |
(366,334 |
) |
|
$ |
19,337 |
|
|
$ |
(330,705 |
) |
|
$ |
26,867 |
|
|