| Schedule of reportable segments and operating income |
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2023 |
|
2022 |
Reportable segment revenue: |
|
|
|
|
|
|
Bitcoin Mining |
|
$ |
48,023 |
|
$ |
57,945 |
Data Center Hosting |
|
|
36,996 |
|
|
21,039 |
Engineering |
|
|
21,356 |
|
|
15,238 |
Other revenue |
|
|
24 |
|
|
24 |
Eliminations |
|
|
(33,163) |
|
|
(14,459) |
Total segment and consolidated revenue |
|
$ |
73,236 |
|
$ |
79,787 |
|
|
|
|
|
|
|
Reportable segment cost of revenues: |
|
|
|
|
|
|
Bitcoin Mining |
|
|
28,691 |
|
|
23,931 |
Data Center Hosting |
|
|
46,821 |
|
|
21,492 |
Engineering |
|
|
18,886 |
|
|
13,552 |
Eliminations |
|
|
(31,276) |
|
|
(13,347) |
Total segment and consolidated cost of revenues |
|
$ |
63,122 |
|
$ |
45,628 |
|
|
|
|
|
|
|
Reconciling Items: |
|
|
|
|
|
|
Selling, general, and administrative |
|
|
(12,675) |
|
|
(10,910) |
Depreciation and amortization |
|
|
(59,340) |
|
|
(14,245) |
Change in fair value of derivative asset |
|
|
(5,778) |
|
|
43,683 |
Power curtailment credits |
|
|
3,075 |
|
|
2,552 |
Change in fair value of contingent consideration |
|
|
— |
|
|
(176) |
Realized gain on sale of Bitcoin |
|
|
13,775 |
|
|
9,665 |
Casualty-related charges (recoveries), net |
|
|
(1,526) |
|
|
— |
Impairment of Bitcoin |
|
|
(4,472) |
|
|
(25,870) |
Interest income (expense) |
|
|
(3,830) |
|
|
(357) |
Unrealized loss on marketable equity securities |
|
|
— |
|
|
(1,611) |
Current income tax benefit (expense) |
|
|
(76) |
|
|
(312) |
Deferred income tax benefit (expense) |
|
|
5,045 |
|
|
— |
Net income (loss) |
|
$ |
(55,688) |
|
$ |
36,578 |
|