Riot Blockchain, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis

The Company’s assets and liabilities measured at fair value on a recurring basis consisted of the following as of the Whinstone Acquisition Date of May 26, 2021, and December 31, 2021:

	Fair value measured at May 26, 2021
	Total carrying value at May 26, 2021		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Derivative asset	$	13,967	$	-	$	-	$	13,967
Contingent consideration liability	$	82,953	$	-	$	-	$	82,953

	Fair value measured at December 31, 2021
	Total carrying value at December 31, 2021		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Derivative asset	$	26,079	$	-	$	-	$	26,079
Contingent consideration liability	$	83,928	$	-	$	-	$	83,928

Schedule of Changes in Estimated Fair Value of Derivative Asset

The following table presents the changes in the estimated fair value of the derivative asset measured using significant unobservable inputs (Level 3) for the year ended December 31, 2021 (in thousands):

	Derivative Asset
Balance as of January 1, 2021	$	-
Acquisition of Whinstone		13,967
Change in fair value		12,112
Balance as of December 31, 2021	$	26,079

Schedule of Changes in Estimated Fair Value of Liability

The following table presents the changes in the estimated fair value of our liability for contingent consideration measured using significant unobservable inputs (Level 3) for the year ended December 31, 2021 (in thousands):

	Contingent Consideration Liability
Balance as of January 1, 2021	$	-
Acquisition of Whinstone		82,953
Change in fair value		975
Balance as of December 31, 2021	$	83,928