Investor Relations

Balance Sheet

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 277,860	$ 597,169
Restricted cash	73,441
Accounts receivable, net	27,124	24,706
Contract assets	6,478	15,359
Prepaid expenses and other current assets	40,288	29,107
Bitcoin		311,178
Derivative asset, current portion	40,020	30,781
Equity method investment - marketable securities, at fair value	134,265
Future power credits, current portion		271
Total current assets	599,476	1,008,571
Property and equipment, net	1,338,787	704,194
Bitcoin	1,654,468
Deposits	30,115	215,009
Finite-lived intangible assets, net	34,053	15,697
Derivative asset, less current portion	109,475	73,437
Operating lease right-of-use assets	27,492	20,413
Future power credits, less current portion	589	638
Goodwill	121,887
Other long-term assets	18,965	13,121
Total assets	3,935,307	2,051,080
Current liabilities
Accounts payable	17,609	23,157
Contract liabilities	9,644	4,073
Accrued expenses	75,672	62,371
Deferred gain on acquisition post-close dispute settlement	26,007	26,007
Deferred revenue, current portion	2,892	2,458
Contingent consideration liabilities, current portion	23,626	271
Current portion of long-term debt	314	257
Operating lease liability, current portion	4,621	2,421
Total current liabilities	160,385	121,015
Deferred revenue, less current portion	13,590	15,801
Operating lease liability, less current portion	23,915	18,924
Contingent consideration liabilities, less current portion	3,229	638
Long-term debt, less current portion	584,311	526
Other long-term liabilities	6,192	6,154
Total liabilities	791,622	163,058
Commitments and contingencies - Note 17
Stockholders' equity
Preferred stock, no par value, 15,000,000 shares authorized:
2% Series A Convertible Preferred stock, 2,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024 and 2023
0% Series B Convertible Preferred stock, 1,750,001 shares authorized; no shares issued and outstanding as of December 31, 2024 and 2023
Common stock, no par value; 680,000,000 shares authorized; 344,890,208 and 230,836,624 shares issued and outstanding as of December 31, 2024 and 2023, respectively	3,833,882	2,687,692
Accumulated deficit	(690,419)	(799,820)
Accumulated other comprehensive income (loss), net	222	150
Total stockholders' equity	3,143,685	1,888,022
Total liabilities and stockholders' equity	$ 3,935,307	$ 2,051,080