v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Total revenue $ 167,219 $ 161,387
Costs and expenses:    
Acquisition-related costs   76
Selling, general, and administrative 76,180 71,448
Depreciation and amortization 97,734 77,926
Change in fair value of bitcoin 326,669 208,040
Change in fair value of derivatives 51,852 (41,894)
Power curtailment credits (21,023) (7,801)
Change in fair value of contingent consideration   (8,252)
Loss (gain) on sale of equipment   129
Total costs and expenses 667,088 395,261
Operating income (loss) (499,869) (233,874)
Other income (expense):    
Interest income 2,313 3,397
Interest expense (2,618) (2,308)
Loss on equity method investment - marketable securities   (63,238)
Other income (expense) (12) 93
Total other income (expense) (317) (62,056)
Net income (loss) before taxes (500,186) (295,930)
Current income tax benefit (expense) (291) (437)
Net income (loss) $ (500,477) $ (296,367)
Basic net income (loss) per share (in Dollars per share) $ (1.44) $ (0.9)
Diluted net income (loss) per share (in Dollars per share) $ (1.44) $ (0.9)
Basic weighted average number of shares outstanding (in Shares) 347,624,244 329,508,458
Diluted weighted average number of shares outstanding (in Shares) 347,624,244 329,508,458
Bitcoin Mining    
Revenue:    
Total revenue $ 111,895 $ 142,859
Costs and expenses:    
Cost of revenue (excludes depreciation and amortization presented below): 86,762 74,818
Data Centers    
Revenue:    
Total revenue 33,150  
Costs and expenses:    
Cost of revenue (excludes depreciation and amortization presented below): 30,773  
Engineering    
Revenue:    
Total revenue 22,174 13,920
Costs and expenses:    
Cost of revenue (excludes depreciation and amortization presented below): $ 18,141 11,806
Other    
Revenue:    
Total revenue   4,608
Costs and expenses:    
Cost of revenue (excludes depreciation and amortization presented below):   $ 8,965