v3.24.1.u1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Digital asset mining revenue $ 149,959 $ 98,026
Total revenue 179,291 120,655
Cost of revenue 101,645 88,874
Gross profit 77,646 31,781
Gain from sales of digital assets 543 1,064
Impairment of digital assets 0 (1,056)
Change in fair value of energy derivatives (2,218) 0
Losses on disposal of property, plant and equipment (3,820) 0
Operating expenses:    
Research and development 1,799 1,415
Sales and marketing 982 1,008
General and administrative 14,143 21,764
Total operating expenses 16,924 24,187
Operating income 55,227 7,602
Non-operating (income) expenses, net:    
Loss (gain) on debt extinguishment 50 (20,761)
Interest expense, net 14,087 157
Reorganization items, net (111,439) 31,559
Change in fair value of warrant and contingent value rights (60,114) 0
Other non-operating expense (income), net 1,746 (3,069)
Total non-operating (income) expenses, net (155,670) 7,886
Income (loss) before income taxes 210,897 (284)
Income tax expense 206 104
Net income (loss) $ 210,691 $ (388)
Net income (loss) per share (Note 12):    
Basic (in dollars per share) $ 0.91 $ 0
Diluted (in dollars per share) $ 0.78 $ 0
Weighted average shares outstanding:    
Basic (in shares) 230,954 375,419
Diluted (in shares) 282,531 375,419
Digital asset mining    
Revenue:    
Digital asset mining revenue $ 149,959 $ 98,026
Cost of revenue 81,564 72,676
Hosting revenue    
Revenue:    
Cost of revenue 20,081 16,198
Hosting revenue | Nonrelated Party    
Revenue:    
Revenue from customers and related parties 29,332 18,909
Hosting revenue | Related Party    
Revenue:    
Revenue from customers and related parties $ 0 $ 3,720

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