| Schedule of reportable segments and operating income |
| |
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| Reportable segment revenue, net: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mining |
|
$ |
22,070 |
|
|
$ |
53,590 |
|
|
$ |
126,166 |
|
|
$ |
108,213 |
|
| Data Center Hosting |
|
|
23,624 |
|
|
|
11,193 |
|
|
|
68,240 |
|
|
|
14,067 |
|
| Engineering |
|
|
20,300 |
|
|
|
— |
|
|
|
55,050 |
|
|
|
— |
|
| Other revenue |
|
|
25 |
|
|
|
25 |
|
|
|
73 |
|
|
|
73 |
|
| Eliminations |
|
|
(19,729 |
) |
|
|
— |
|
|
|
(50,505 |
) |
|
|
— |
|
| Total segment and consolidated revenue |
|
|
46,290 |
|
|
|
64,808 |
|
|
|
199,024 |
|
|
|
122,353 |
|
| Reportable segment cost of revenues (exclusive of depreciation and amortization shown below): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mining |
|
|
15,949 |
|
|
|
13,034 |
|
|
|
60,793 |
|
|
|
29,893 |
|
| Data Center Hosting |
|
|
28,201 |
|
|
|
12,581 |
|
|
|
75,705 |
|
|
|
16,317 |
|
| Engineering |
|
|
16,767 |
|
|
|
— |
|
|
|
47,302 |
|
|
|
— |
|
| Eliminations |
|
|
(18,237 |
) |
|
|
— |
|
|
|
(47,138 |
) |
|
|
— |
|
| Total segment and consolidated cost of revenues (exclusive of depreciation and amortization shown below) |
|
|
42,680 |
|
|
|
25,615 |
|
|
|
136,662 |
|
|
|
46,210 |
|
| Reconciling Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisition-related costs |
|
|
— |
|
|
|
(552 |
) |
|
|
(78 |
) |
|
|
(18,894 |
) |
| Selling, general and administrative |
|
|
(16,004 |
) |
|
|
(40,307 |
) |
|
|
(37,549 |
) |
|
|
(47,971 |
) |
| Depreciation and amortization |
|
|
(26,559 |
) |
|
|
(12,207 |
) |
|
|
(61,366 |
) |
|
|
(20,791 |
) |
| Change in fair value of derivative asset |
|
|
(17,749 |
) |
|
|
7,413 |
|
|
|
86,865 |
|
|
|
23,806 |
|
| Power curtailment credits |
|
|
13,070 |
|
|
|
2,507 |
|
|
|
21,328 |
|
|
|
3,650 |
|
| Change in fair value of contingent consideration |
|
|
— |
|
|
|
(259 |
) |
|
|
(176 |
) |
|
|
(444 |
) |
| Realized gain on sale/exchange of Bitcoin |
|
|
1,854 |
|
|
|
65 |
|
|
|
25,443 |
|
|
|
94 |
|
| Gain on exchange of equipment |
|
|
7,667 |
|
|
|
— |
|
|
|
16,281 |
|
|
|
— |
|
| Impairment of Bitcoin |
|
|
(5,900 |
) |
|
|
— |
|
|
|
(132,077 |
) |
|
|
(17,507 |
) |
| Impairment of goodwill |
|
|
— |
|
|
|
— |
|
|
|
(335,648 |
) |
|
|
— |
|
| Interest income (expense) |
|
|
348 |
|
|
|
40 |
|
|
|
(9 |
) |
|
|
295 |
|
| Realized loss on sale of marketable equity securities |
|
|
— |
|
|
|
— |
|
|
|
(1,624 |
) |
|
|
— |
|
| Realized gain on sale/exchange of long-term investment |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
26,260 |
|
| Unrealized gain (loss) on marketable equity securities |
|
|
142 |
|
|
|
(11,151 |
) |
|
|
(6,306 |
) |
|
|
(10,812 |
) |
| Other income (expense) |
|
|
— |
|
|
|
(85 |
) |
|
|
(59 |
) |
|
|
1,425 |
|
| Current income tax benefit (expense) |
|
|
(89 |
) |
|
|
— |
|
|
|
(828 |
) |
|
|
— |
|
| Deferred income tax benefit (expense) |
|
|
3,041 |
|
|
|
— |
|
|
|
9,667 |
|
|
|
(3,730 |
) |
| Net income (loss) |
|
$ |
(36,569 |
) |
|
$ |
(15,343 |
) |
|
$ |
(353,774 |
) |
|
$ |
11,524 |
|
|