v3.24.3
Unaudited Condensed Consolidated Statement of Cash Flows
 3 Months Ended 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (8,086,000) $ (21,701,000) $ (17,619,000)
Adjustments to reconcile net loss to cash (used in) provided by operating activities      
Impairment of digital assets   250,000
Realized gain from sale of digital assets (17,000) (484,000)
Realized gain from use of digital assets (9,000) (3,809,000)
Unrealized gain on digital assets   (1,295,000)
Impairment of miners 5,430,000 5,430,000
Depreciation expense   9,435,000 11,906,000
Forfeiture of restricted stock grants   (1,910,000)
Compensation cost related to restricted common stock awards   445,000 1,093,000
Fair value of common stock issued to consultants   1,708,000
Compensation for services contributed by the Company’s president   188,000
Unrealized loss (gain) on marketable securities 75,000 293,000 74,000
Loss on asset disposal 2,000 146,000 55,000
Change in fair value of notes payable   7,089,000 7,711,000
Interest expense   891,000 530,000
Digital asset revenue   (16,695,000) (14,992,000)
Changes in operating assets and liabilities      
Proceeds from the sale of digital assets   16,649,000 13,958,000
Accounts receivable   485,000 (114,000)
Prepaid expenses   (283,000) 7,000
Accounts payable and accrued liabilities   465,000 790,000
Net cash (used in) provided by operating activities   (2,368,000) 3,064,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of mining equipment   (1,075,000) (1,542,000)
Proceeds from the sale of miners   171,000
Refundable deposit   (600,000) (360,000)
Net cash used in investing activities   (1,504,000) (1,902,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Payment for insurance payable   (537,000) (52,000)
Issuance of note payable for insurance premiums   569,000 132,000
Loan modification payment for BTC note   (104,000)
Cash acquired in connection with the reverse recapitalization   500,000
Proceeds from issuance of common stock   1,395,000
Proceeds from issuance of common stock - ATM   1,664,000
Cash expenses for issuance of common stock   (266,000)
Net cash provided by (used in) financing activities   3,325,000 (24,000)
Net change in cash   (547,000) 1,138,000
Cash-beginning of period   915,000 267,000
Cash-end of period 1,405,000 368,000 1,405,000
Reconciliation of cash and cash equivalents and restricted cash      
Cash and cash equivalents 1,405,000 368,000 1,405,000
Restricted cash 42,000 42,000
Cash and cash equivalents and restricted cash $ 1,447,000 368,000 1,447,000
Supplemental Disclosures of Cash Flow Information:      
Cash paid for interest  
Cash paid for income taxes   176,000
Non-Cash investing and financing activities:      
Accrued expenses for issuance of common stock   321,000 620,000
Digital assets used for principal and interest payment of note payable   $ 3,561,000 $ 7,005,000

Source

10-Q PDF
XBRL