v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (30,136,000) $ (4,723,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,375,000 5,201,000
Amortization of debt discount 1,595,000 1,105,000
Amortization of right-of-use assets 408,000 374,000
Stock-based compensation 67,000 67,000
Loss on the sale of fixed assets 161,000
Revenue, crypto assets mining (5,077,000) (5,198,000)
Proceeds from the sale of crypto assets 5,227,000
Change in fair value of crypto assets and crypto assets, restricted 12,087,000 9,000
Realized gains on non-marketable equity securities (1,422,000)
Change in fair value of embedded derivatives (1,324,000)
(Gain) loss on extinguishment of debt (489,000) 4,569,000
Gain on deconsolidation of subsidiary (10,049,000)
Other operating activities 355,000 (521,000)
Changes in operating assets and liabilities:    
Marketable equity securities 1,383,000 (5,000)
Accounts receivable (2,486,000) (3,021,000)
Inventories (346,000) 359,000
Prepaid expenses and other current assets (2,797,000) 665,000
Other assets 504,000 (31,000)
Accounts payable and accrued expenses 21,621,000 2,204,000
Lease liabilities (511,000) (352,000)
Net cash used in operating activities (193,000) (3,959,000)
Cash flows from investing activities:    
Purchase of property and equipment (10,566,000) (2,880,000)
Purchase of crypto assets (3,760,000)
Investments in loans receivable (2,871,000)
Collections on loans receivable 1,100,000
Investments in non-marketable equity securities (7,749,000)
Proceeds from the sale of property and equipment 1,008,000 158,000
Investment in notes receivable, related party (380,000)
Collections on notes receivable, related party 1,945,000
Other investing activities 2,000 (14,000)
Net cash used in investing activities (22,836,000) (1,171,000)
Cash flows from financing activities:    
Gross proceeds from sales of Class A common stock 10,645,000
Offering costs related to issuance of Class A common stock (266,000)
Proceeds from sales of Series D preferred stock 53,000 1,922,000
Proceeds from sales of Series G preferred stock and warrants, related party 860,000
Proceeds from notes payable 18,281,000 17,906,000
Payments on notes payable (14,270,000) (13,794,000)
Repayments of related party notes payable (1,685,000)
Proceeds from related party notes payable 900,000 36,000
Payments of preferred dividends (2,506,000) (1,966,000)
Proceeds from issuance of convertible notes 800,000
Payments on convertible notes (1,350,000) (250,000)
Net cash provided by financing activities 10,602,000 4,714,000
Effect of exchange rate changes on cash and cash equivalents (502,000) 6,000
Net decrease in cash and cash equivalents and restricted cash (12,929,000) (410,000)
Cash, cash equivalents and restricted cash at beginning of period 49,226,000 25,022,000
Cash, cash equivalents and restricted cash at end of period 36,297,000 24,612,000
Non-cash investing and financing activities:    
Settlement of accounts payable with crypto assets 29,000 8,000
Conversion of convertible notes payable into shares of Class A common stock 417,000
Conversion of debt and equity securities to marketable securities 2,774,000
Exchange of related party advances for investment in other equity securities, related party 1,800,000
Recognition of new operating lease right-of-use assets and lease liabilities $ 1,593,000 $ 935,000
Notes payable exchanged for convertible notes payable 9,103,000