Annual report pursuant to Section 13 and 15(d)

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements - Restated Condensed Consolidated Balance Sheets (Details)

v3.22.4
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements - Restated Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Current assets                    
Cash and cash equivalents $ 230,328 $ 254,974 $ 270,483 $ 113,581 $ 312,315 $ 57,880 $ 147,183 $ 241,012    
Accounts receivable, net 26,932 17,385 16,091 16,019 15,398 3,632 27      
Costs and estimated earnings in excess of billings 19,743 15,119 13,779 11,058 9,862          
Prepaid expenses and other current assets 32,661 22,100 12,999 20,958 7,135 1,552 1,060 629    
Bitcoin 109,420 120,558 117,847 181,632 150,593 91,479 44,112 30,753 $ 10,186  
Future power credits, current portion 24,297 39,996 54,477 79,261 58,481          
Investments in marketable equity securities, at fair value   2,170 2,028 9,193 10,804 13,647 24,799      
Total current assets 443,381 472,302 487,704 431,702 564,588 168,190 217,181 272,394    
Property and equipment, net 692,555 650,191 424,744 338,632 276,480 214,251 142,315 28,306    
Deposits 42,433 178,502 363,010 330,360 266,170 94,416 78,861 70,730    
Finite-lived intangible assets, net 21,477 13,017 13,371 13,723 14,162 84,807 89,713 351    
Goodwill       335,648 335,563 253,737 253,909      
Derivative asset 97,497 112,944 130,693 69,762 26,079 37,773 30,360      
Operating lease right-of-use assets 21,673 21,763 21,166 21,616 13,189 6,692 6,440      
Future power credits, less current portion 638       25,447 83,397 83,138      
Other long-term assets 310 310 310 310 310 310 310 310    
Total assets 1,319,964 1,449,029 1,440,998 1,541,753 1,521,988 943,573 902,227 372,091    
Current liabilities                    
Accounts payable 18,445 12,664 18,761 11,269 20,037 14,651 28,607 2,904    
Billings in excess of costs and estimated earnings 8,446 11,229 6,389 4,963 5,264          
Accrued expenses 65,464 38,915 16,771 16,430 22,071 7,252 4,464 4,432    
Deferred revenue, current portion 2,882 2,555 2,651 2,747 2,843 2,546 2,724 97    
Contingent consideration liability - future power credits, current portion 24,297 39,996 54,477 79,261 58,481          
Operating lease liability, current portion 2,009 1,699 1,518 1,507 1,182 1,125 1,680      
Total current liabilities 121,543 107,058 100,567 116,177 109,878 25,574 37,475 7,433    
Deferred revenue, less current portion 17,869 18,364 18,851 19,328 19,796 20,256 20,789 655    
Operating lease liability, less current portion 20,242 20,510 19,968 20,346 12,257 7,254 6,620      
Contingent consideration liability - future power credits, less current portion 638       25,447 83,397 83,138      
Deferred tax liability           41,491 41,491      
Other long-term liabilities 8,230 8,319 8,274 6,220 6,241 6,120 2,693      
Total liabilities 168,522 154,251 147,660 162,071 173,619 184,092 192,206 8,088    
Stockholders' equity                    
Preferred stock                
Common stock, no par value; 340,000,000 shares authorized; 167,751,112 and 116,748,472 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 1,907,784 1,890,983 1,857,108 1,589,893 1,595,147 988,692 917,197 590,188    
Accumulated deficit (756,342) (596,205) (563,770) (210,211) (246,789) (229,222) (207,187) (226,196)    
Total stockholders' equity 1,151,442 1,294,778 1,293,338 1,379,682 1,348,369 759,481 710,021 364,003 275,631 $ 26,235
Total liabilities and stockholders' equity 1,319,964 1,449,029 1,440,998 1,541,753 1,521,988 943,573 902,227 372,091    
2% Convertible Preferred Stock Series A [Member]                    
Stockholders' equity                    
Preferred stock                
0% Convertible Preferred Stock Series B [Member]                    
Stockholders' equity                    
Preferred stock         11 11 11 11    
As Previously Reported                    
Current assets                    
Cash and cash equivalents   254,974 270,483 113,581   57,880 147,183 241,012    
Accounts receivable, net   17,385 16,091 16,019   3,632 27      
Costs and estimated earnings in excess of billings   15,119 13,779 11,058            
Prepaid expenses and other current assets   22,100 12,999 20,958   1,552 1,060 629    
Bitcoin   125,151 126,574 189,634 159,544 102,313 48,254 34,567    
Future power credits, current portion   39,996 54,477 79,261            
Investments in marketable equity securities, at fair value   2,170 2,028 9,193   13,647 24,799      
Total current assets   476,895 496,431 439,704 573,539 179,024 221,323 276,208    
Property and equipment, net   650,191 424,744 338,632   214,251 142,315 28,306    
Deposits   178,502 363,010 330,360   94,416 78,861 70,730    
Finite-lived intangible assets, net   13,017 13,371 13,723   84,807 89,713 351    
Goodwill       335,648   253,737 253,909      
Derivative asset   112,944 130,693 69,762   37,773 30,360      
Operating lease right-of-use assets   21,763 21,166 21,616   6,692 6,440      
Future power credits, less current portion           83,397 83,138      
Other long-term assets   310 310 310   310 310 310    
Total assets   1,453,622 1,449,725 1,549,755 1,530,939 954,407 906,369 375,905    
Current liabilities                    
Accounts payable   12,664 18,761 11,269   14,651 28,607 2,904    
Billings in excess of costs and estimated earnings   11,229 6,389 4,963            
Accrued expenses   38,915 16,771 16,430   7,252 4,464 4,432    
Deferred revenue, current portion   2,555 2,651 2,747   2,546 2,724 97    
Contingent consideration liability - future power credits, current portion   39,996 54,477 79,261            
Operating lease liability, current portion   1,699 1,518 1,507   1,125 1,680      
Total current liabilities   107,058 100,567 116,177   25,574 37,475 7,433    
Deferred revenue, less current portion   18,364 18,851 19,328   20,256 20,789 655    
Operating lease liability, less current portion   20,510 19,968 20,346   7,254 6,620      
Contingent consideration liability - future power credits, less current portion           83,397 83,138      
Deferred tax liability           41,491 41,491      
Other long-term liabilities   8,319 8,274 6,220   6,120 2,693      
Total liabilities   154,251 147,660 162,071   184,092 192,206 8,088    
Stockholders' equity                    
Common stock, no par value; 340,000,000 shares authorized; 167,751,112 and 116,748,472 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively   1,890,983 1,857,108 1,589,893   988,692 917,197 590,188    
Accumulated deficit   (591,612) (555,043) (202,209) (237,838) (218,388) (203,045) (222,382)    
Total stockholders' equity   1,299,371 1,302,065 1,387,684 1,357,320 770,315 714,163 367,817 $ 277,071  
Total liabilities and stockholders' equity   1,453,622 1,449,725 1,549,755 $ 1,530,939 954,407 906,369 375,905    
As Previously Reported | 0% Convertible Preferred Stock Series B [Member]                    
Stockholders' equity                    
Preferred stock           11 11 11    
Adjustment | Impairment of Bitcoin                    
Current assets                    
Bitcoin   (4,593) (8,727) (8,002)   (10,834) (4,142) (3,814)    
Total current assets   (4,593) (8,727) (8,002)   (10,834) (4,142) (3,814)    
Total assets   (4,593) (8,727) (8,002)   (10,834) (4,142) (3,814)    
Stockholders' equity                    
Accumulated deficit   (4,593) (8,727) (8,002)   (10,834) (4,142) (3,814)    
Total stockholders' equity   (4,593) (8,727) (8,002)   (10,834) (4,142) (3,814)    
Total liabilities and stockholders' equity   $ (4,593) $ (8,727) $ (8,002)   $ (10,834) $ (4,142) $ (3,814)