v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current    
Cash $ 357,277 $ 573,462
Accounts receivable, net 5,357 5,471
Digital assets 168,481 174,726
Digital assets - restricted 5,559
Other assets 2,460 2,825
Rights to renewable energy credits and waste tax credits 10,807 18,478
Assets held for sale 14,054 28,664
Short-term prepaid deposits 6,800 6,317
Inventories 10,410 8,676
Derivative assets 2,287
Total current assets 575,646 826,465
Non-current    
Restricted cash 41,075 57,500
Rights to waste tax credits 954
Property, plant and equipment, net 348,604 358,333
Operating lease right-of-use assets, net 10,623 11,103
Finance lease right-of-use assets, net 2,043 2,127
Long-term deposits and equipment prepayments 81,381 31,033
Intangible assets, net 3,025 2,983
Long-term derivative assets 1,760 5,200
Other non-current assets 1,600 1,600
Total assets 1,066,711 1,296,344
Current    
Accounts payable and accrued expenses 53,909 46,443
Current portion of long-term debt 4,242 97,022
Current portion of operating lease liabilities 1,491 1,490
Current portion of finance lease liabilities 302 235
Derivative liabilities 2,922
Total current liabilities 59,944 148,112
Non-current    
Long-term debt 573,203 572,447
Operating lease liabilities 9,996 10,606
Finance lease liabilities 1,736 1,978
Deferred tax liability 65 65
Other non-current liabilities 2,632 2,761
Total liabilities 647,576 735,969
Commitments and contingencies (Note 20)
Stockholders’ equity    
Common stock - no par value; Authorized – unlimited number of shares; Issued and outstanding – 602,851,137 and 601,579,999 shares 1,066,009 1,064,572
Additional paid-in capital 110,960 108,284
Accumulated deficit (757,834) (612,481)
Total stockholders’ equity 419,135 560,375
Total liabilities and stockholders’ equity $ 1,066,711 $ 1,296,344