v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows used in operating activities    
Net loss $ (145,353) $ (55,553)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 27,694 28,364
Impairment of long-lived assets 15,603 18,824
Total other expenses 29,083 2,975
Digital assets earned and hosting revenue received in Bitcoin (35,708) (64,418)
Stock-based compensation 3,664 4,268
Renewable energy credits earned (1,881)
Gain on disposition of assets (318) (5,586)
Digital assets exchanged for services 5,179
Realized gain (loss) on sale of digital assets 1,810 (4,977)
Other 571 835
Change in fair value of digital assets 41,449 23,033
Interest income received 2,726 411
Interest expenses paid (3,582) (646)
Income taxes received (paid) 7 (78)
Proceeds from disposition of renewable energy and waste tax credits 8,598
Changes in non-cash working capital components (9,050) 28,528
Net change in cash related to operating activities (64,687) (18,841)
Cash flows used in investing activities    
Proceeds from sale of digital assets 4,373 37,263
Purchase of property, plant and equipment and intangible assets (10,325) (43,337)
Proceeds from sale of property, plant and equipment and assets held for sale 1,543 2,139
Purchase of marketable securities (967) (6,540)
Proceeds from disposition of marketable securities 989 6,931
Purchase of derivative assets and liabilities (30,055)
Settlement of derivative assets and liabilities 1,396 28,472
Equipment and construction prepayments (51,847) (4,481)
Proceeds from disposal of business 32,038
Acquisition of business (48,084)
Net change in cash related to investing activities (54,838) (25,654)
Cash flows (used in) from financing activities    
Repayment of long-term debt (113,466) (15)
Repayment of finance lease liabilities (109) (25)
Issuance of common shares and warrants 23,608
Exercise of stock options and warrants 449
Net change in cash related to financing activities (113,126) 23,568
Net decrease in cash and restricted cash (232,651) (20,927)
Cash and restricted cash, beginning of the period 630,962 59,542
Exchange rates differences on currency translation 41 (69)
Cash and restricted cash, end of the period 398,352 38,546
Cash flows from (used in) discontinued operations $ 621 $ (1,864)