v3.25.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Total revenue $ 510,672,000 $ 502,400,000 $ 640,313,000
Total cost of revenue 389,602,000 378,941,000 631,913,000
Gross profit 121,070,000 123,459,000 8,400,000
Change in fair value of digital assets (1,052,000) 0 0
Gain from sale of digital assets 0 3,893,000 44,298,000
Impairment of digital assets 0 (4,406,000) (231,315,000)
Change in fair value of energy derivatives (2,757,000) (3,918,000) 0
Impairment of goodwill and other intangibles 0 0 (1,059,265,000)
Impairment of property, plant and equipment 0 0 (590,673,000)
Losses on exchange or disposal of property, plant and equipment (4,210,000) (1,956,000) (28,025,000)
Operating expenses:      
Research and development 11,830,000 7,184,000 26,962,000
Sales and marketing 9,969,000 7,019,000 12,731,000
General and administrative 110,448,000 93,908,000 213,280,000
Total operating expenses 132,247,000 108,111,000 252,973,000
Operating (loss) income (19,196,000) 8,961,000 (2,109,553,000)
Non-operating expenses (income), net:      
Loss (gain) on debt extinguishment 487,000 (20,065,000) 287,000
Interest expense, net 37,070,000 86,238,000 96,826,000
Change in fair value of convertible notes 0 0 186,853,000
Change in fair value of warrants and contingent value rights 1,369,157,000 0 (37,937,000)
Reorganization items, net (111,439,000) 191,122,000 (197,405,000)
Other non-operating (income) expense, net (325,000) (2,530,000) 5,232,000
Total non-operating expenses, net 1,294,950,000 254,765,000 53,856,000
Loss before income taxes (1,314,146,000) (245,804,000) (2,163,409,000)
Income tax expense (benefit) 859,000 683,000 (17,091,000)
Net loss $ (1,315,005,000) $ (246,487,000) $ (2,146,318,000)
Net loss per share, basic (in dollars per share) $ (4.39) $ (0.65) $ (6.30)
Net loss per share, diluted (in dollars per share) $ (4.39) $ (0.65) $ (6.30)
Weighted average shares outstanding, basic (in shares) 255,832 379,863 340,647
Weighted average shares outstanding, diluted (in shares) 255,832 379,863 340,647
Digital asset self-mining      
Revenue:      
Total cost of revenue $ 314,335,000 $ 291,696,000 $ 395,082,000
Digital asset self-mining | Nonrelated Party      
Revenue:      
Digital asset self-mining revenue 408,740,000 390,333,000 397,796,000
Cost of digital asset hosted mining services      
Revenue:      
Total cost of revenue 53,558,000 87,245,000 169,717,000
Cost of digital asset hosted mining services | Nonrelated Party      
Revenue:      
Revenue from customers and related parties 77,554,000 102,005,000 130,234,000
Cost of digital asset hosted mining services | Related Party      
Revenue:      
Revenue from customers and related parties 0 10,062,000 29,454,000
Equipment sales      
Revenue:      
Total cost of revenue 0 0 67,114,000
Equipment sales | Nonrelated Party      
Revenue:      
Revenue from customers and related parties 0 0 11,391,000
Equipment sales | Related Party      
Revenue:      
Revenue from customers and related parties 0 0 71,438,000
HPC hosting      
Revenue:      
Total cost of revenue 21,709,000 0 0
HPC hosting | Nonrelated Party      
Revenue:      
Revenue from customers and related parties $ 24,378,000 $ 0 $ 0

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