v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 836,197 $ 50,409
Restricted cash 783 19,300
Accounts receivable 1,025 1,001
Digital assets 23,893 2,284
Prepaid expenses and other current assets 42,064 24,022
Total Current Assets 903,962 97,016
Property, plant and equipment, net 556,342 585,431
Operating lease right-of-use assets 114,472 7,844
Other noncurrent assets 24,039 21,865
Total Assets 1,598,815 712,156
Current Liabilities:    
Accounts payable 19,265 154,751
Accrued expenses and other current liabilities 69,230 179,636
Deferred revenue 18,134 9,830
Operating lease liabilities, current portion 9,974 77
Finance lease liabilities, current portion 1,669 19,771
Notes payable, current portion 16,290 124,358
Total Current Liabilities 134,562 488,423
Operating lease liabilities, net of current portion 97,843 1,512
Finance lease liabilities, net of current portion 3 35,745
Convertible and other notes payable, net of current portion 1,073,990 684,082
Contingent value rights 4,272 0
Warrant liabilities 1,097,285 0
Other noncurrent liabilities 11,040 0
Total liabilities not subject to compromise 2,418,995 1,209,762
Liabilities subject to compromise 0 99,335
Total Liabilities 2,418,995 1,309,097
Commitments and contingencies (Note 11)
Stockholders’ Deficit:    
Preferred stock; $0.00001 par value; 2,000,000 and nil shares authorized at December 31, 2024 and December 31, 2023, respectively; none issued and outstanding at December 31, 2024 and December 31, 2023 0 0
Common stock; $0.00001 and $0.0001 par value at December 31, 2024 and December 31, 2023, respectively; 10,000,000 shares authorized at December 31, 2024 and December 31, 2023; 292,606 and 386,883 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 3 36
Additional paid-in capital 2,915,035 1,823,260
Accumulated deficit (3,735,218) (2,420,237)
Total Stockholders’ Deficit (820,180) (596,941)
Total Liabilities and Stockholders’ Deficit $ 1,598,815 $ 712,156

Source

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