v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current    
Cash $ 573,462 $ 59,542
Accounts receivable, net 5,471 1,259
Digital assets 174,726 87,298
Digital assets - restricted [1] 5,559 32,826
Other assets 2,825 4,282
Rights to renewable energy credits and waste tax credits 18,478
Assets held for sale 28,664 9,419
Short-term prepaid deposits 6,317 14,554
Inventories 8,676 1,137
Derivative assets 2,287 3,418
Total current assets 826,465 213,735
Non-current    
Restricted cash 57,500
Property, plant and equipment, net 358,333 237,255
Operating lease right-of-use assets, net 11,103 21,299
Finance lease right-of-use assets, net 2,127 2,281
Long-term deposits and equipment prepayments 31,033 44,572
Refundable deposits 350 14,216
Intangible assets, net 2,983 4,636
Assets held for sale 125,138
Investment in equity securities 1,250
Long-term derivative assets 5,200
Total assets 1,296,344 663,132
Current    
Accounts payable and accrued expenses 46,443 25,792
Current portion of long-term debt 97,022 146
Current portion of operating lease liabilities 1,490 1,959
Current portion of finance lease liabilities 235 130
Derivative liabilities 2,922 128
Total current liabilities 148,112 28,155
Non-current    
Long-term debt 572,447 1,430
Operating lease liabilities 10,606 17,440
Finance lease liabilities 1,978 2,310
Deferred tax liability 65 65
Other non-current liabilities 2,761 2,586
Total liabilities 735,969 51,986
Commitments and contingencies (Note 27)
Stockholders’ equity    
Common stock - no par value; Authorized – unlimited number of shares; Issued and outstanding – 601,579,999 and 479,332,885 shares 1,064,572 837,764
Additional paid-in capital 108,284 101,319
Accumulated deficit (612,481) (327,937)
Total stockholders’ equity 560,375 611,146
Total liabilities and stockholders’ equity $ 1,296,344 $ 663,132
[1] As of December 31, 2025, Restricted digital assets comprise Bitcoin held by a third party in connection with Bitcoin selling contracts.