Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 113,581 $ 312,315
Accounts receivable 16,019 15,398
Costs and estimated earnings in excess of billings 11,058 9,862
Prepaid expenses and other current assets 20,958 7,135
Cryptocurrencies 189,634 159,544
Future power credits, current portion 79,261 58,481
Investments in marketable equity securities, at fair value 9,193 10,804
Total current assets 439,704 573,539
Property and equipment, net 325,132 262,980
Deposits 330,360 266,170
Intangible assets, net 13,723 14,162
Goodwill 349,148 349,063
Derivative asset 69,762 26,079
Right of use assets 21,616 13,189
Future power credits, less current portion 25,447
Other long-term assets 310 310
Total assets 1,549,755 1,530,939
Current liabilities    
Accounts payable 11,269 20,037
Billings in excess of costs and estimated earnings 4,963 5,264
Accrued compensation 2,629 5,927
Accrued expenses 13,801 16,144
Deferred revenue, current portion 2,747 2,843
Contingent consideration liability - future power credits, current portion 79,261 58,481
Operating lease liability, current portion 1,507 1,182
Total current liabilities 116,177 109,878
Deferred revenue, less current portion 19,328 19,796
Operating lease liability, less current portion 20,346 12,256
Contingent consideration liability - future power credits, less current portion 25,447
Other long-term liabilities 6,220 6,242
Total liabilities 162,071 173,619
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 March 31, 2022 and December 31, 2021
0% Series B Convertible stock, 1,750,001 shares authorized; no shares issued and outstanding as of March 31, 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; 117,304,304 and 116,748,472 shares issued and outstanding as of March 31, 2022 and December 31, 2021 1,589,893 1,595,147
Accumulated deficit (202,209) (237,838)
Total stockholders' equity 1,387,684 1,357,320
Total liabilities and stockholders' equity $ 1,549,755 $ 1,530,939