v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 581,345 $ 836,197
Restricted cash 0 783
Digital assets 172,772 23,893
Customer funding receivable and other current assets 250,643 43,089
Total Current Assets 1,004,760 903,962
Property, plant and equipment, net 828,603 556,342
Operating lease right-of-use assets 108,584 114,472
Other noncurrent assets 36,105 24,039
Total Assets 1,978,052 1,598,815
Current Liabilities:    
Accounts payable 215,055 19,265
Accrued expenses 180,641 64,670
Deferred revenue 150,127 18,134
Other current liabilities 16,899 32,493
Total Current Liabilities 562,722 134,562
Convertible and other notes payable, net of current portion 1,057,696 1,073,990
Warrant liabilities 1,316,690 1,097,285
Other noncurrent liabilities 105,620 113,158
Total Liabilities 3,042,728 2,418,995
Commitments and contingencies (Note 9)
Stockholders’ Deficit:    
Preferred stock; $0.00001 par value; 2,000,000 shares authorized; none issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock; $0.00001 par value; 10,000,000 shares authorized at June 30, 2025 and December 31, 2024; 303,146 and 292,606 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 3,026,645 2,915,035
Accumulated deficit (4,091,324) (3,735,218)
Total Stockholders’ Deficit (1,064,676) (820,180)
Total Liabilities and Stockholders’ Deficit $ 1,978,052 $ 1,598,815

Source

10-Q XBRL Zip