v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Revenues $ 174,614 $ 213,884
Costs and operating expenses    
Purchased energy costs 44,732 43,481
Operating and maintenance costs 30,632 19,794
Third-party hosting and other energy costs 70,048 68,183
General and administrative 86,857 85,865
Depreciation and amortization 191,556 157,897
Change in fair value of digital assets 714,677 394,162
Change in fair value of derivative instrument 41,045 (26,828)
Taxes other than on income 2,430 3,095
Research and development 8,248 9,298
Restructuring costs 45,885 0
Total costs and operating expenses 1,236,110 754,947
Operating loss (1,061,496) (541,063)
Other loss    
Change in fair value of digital assets - receivable, net (303,912) (116,067)
Net gain from extinguishment of debt 70,557 0
Interest income 10,532 11,995
Interest expense (10,720) (9,941)
Equity in net earnings of unconsolidated affiliate (2,171) (13)
Other 3,881 2,474
Total other loss (231,833) (111,552)
Loss before income taxes (1,293,329) (652,615)
Income tax benefit 30,932 119,172
Net loss (1,262,397) (533,443)
Less: Net loss attributable to noncontrolling interests, including redeemable noncontrolling interest 2,778 244
Net loss attributable to common stockholders, basic (1,259,619) (533,199)
Net loss attributable to common stockholders, diluted $ (1,259,619) $ (533,199)
Net loss per share of common stock, basic (in dollars per share) $ (3.31) $ (1.55)
Net loss per share of common stock, diluted (in dollar per share) $ (3.31) $ (1.55)
Weighted average shares of common stock - basic (in shares) 380,157,050 344,098,009
Weighted average shares of common stock, diluted (in shares) 380,157,050 344,098,009