v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current    
Cash $ 715,516 $ 573,462
Accounts receivable, net 5,015 5,471
Digital assets 132,384 174,726
Digital assets - restricted 0 5,559
Other assets 4,316 2,825
Rights to renewable energy credits and waste tax credits 9,139 18,478
Assets held for sale 15,914 28,664
Short-term prepaid deposits 5,329 6,317
Inventories 8,853 8,676
Derivative assets 0 2,287
Total current assets 896,466 826,465
Non-current    
Rights to waste tax credits 2,069 0
Long-term derivative assets 78,800 5,200
Operating lease right-of-use assets, net 10,219 11,103
Finance lease right-of-use assets, net 1,916 2,127
Restricted cash 53,377 57,500
Long-term deposits and equipment prepayments 81,328 31,033
Property, plant and equipment, net 287,055 358,333
Intangible assets, net 2,936 2,983
Other non-current assets 1,600 1,600
Total assets 1,415,766 1,296,344
Current    
Accounts payable and accrued expenses 46,693 46,443
Current portion of long-term debt 6,754 97,022
Current portion of operating lease liabilities 1,387 1,490
Current portion of finance lease liabilities 288 235
Derivative liabilities 0 2,922
Total current liabilities 55,122 148,112
Non-current    
Long-term debt 1,019,075 572,447
Operating lease liabilities 9,232 10,606
Finance lease liabilities 1,619 1,978
Deferred tax liability 65 65
Other non-current liabilities 1,937 2,761
Total liabilities 1,087,050 735,969
Commitments and contingencies (Note 21)
Stockholders’ equity    
Preferred stock Class A - $0.001 par value; 120,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.001 par value per share; 1,500,000,000 shares authorized; 616,736,107 and 601,579,999 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 617 602
Additional paid-in capital 1,150,928 1,172,254
Accumulated deficit (822,829) (612,481)
Total stockholders' equity 328,716 560,375
Total liabilities and stockholders' equity $ 1,415,766 $ 1,296,344