v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 254,974 $ 312,315
Accounts receivable 17,385 15,398
Costs and estimated earnings in excess of billings 15,119 9,862
Prepaid expenses and other current assets 22,100 7,135
Bitcoin 125,151 159,544
Future power credits, current portion 39,996 58,481
Investments in marketable equity securities, at fair value 2,170 10,804
Total current assets 476,895 573,539
Property and equipment, net 650,191 276,480
Deposits 178,502 266,170
Intangible assets, net 13,017 14,162
Goodwill 335,563
Derivative asset 112,944 26,079
Right of use assets 21,763 13,189
Future power credits, less current portion 25,447
Other long-term assets 310 310
Total assets 1,453,622 1,530,939
Current liabilities    
Accounts payable 12,664 20,037
Billings in excess of costs and estimated earnings 11,229 5,264
Accrued compensation 5,190 5,927
Accrued expenses 33,725 16,144
Deferred revenue, current portion 2,555 2,843
Contingent consideration liability - future power credits, current portion 39,996 58,481
Operating lease liability, current portion 1,699 1,182
Total current liabilities 107,058 109,878
Deferred revenue, less current portion 18,364 19,796
Operating lease liability, less current portion 20,510 12,257
Contingent consideration liability - future power credits, less current portion 25,447
Other long-term liabilities 8,319 6,241
Total liabilities 154,251 173,619
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 September 30, 2022 and December 31, 2021
0% Series B Convertible stock, 1,750,001 shares authorized; no shares issued and outstanding as of September 30, 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; 167,296,912 and 116,748,472 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively 1,890,983 1,595,147
Accumulated deficit (591,612) (237,838)
Total stockholders' equity 1,299,371 1,357,320
Total liabilities and stockholders' equity $ 1,453,622 $ 1,530,939

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