v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows used in operating activities    
Net loss $ (210,348) $ (61,054)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 111,843 63,977
Impairment of long-lived assets 17,186 33,696
Total other (income) expenses (47,725) 489
Digital assets earned and hosting revenue received in Bitcoin (62,553) (135,127)
Stock-based compensation 13,512 7,768
Renewable energy credits earned (6,119) (6,540)
(Gain) loss on disposition of assets 759 (7,451)
Digital assets exchanged for services 0 5,125
Realized loss (gain) on sale of digital assets 12,990 (20,982)
Other 1,205 250
Change in fair value of digital assets 50,478 6,750
Interest income received 6,217 873
Interest expenses paid (3,641) (1,145)
Income tax paid (877) (237)
Proceeds from disposition of renewable energy and waste tax credits 13,389 4,070
Changes in non-cash working capital components (13,931) 15,816
Net change in cash related to operating activities (117,615) (93,722)
Cash flows (used in) from investing activities    
Proceeds from sale of digital assets 47,344 137,734
Purchase of property, plant and equipment and intangible assets (53,413) (62,063)
Proceeds from sale of property, plant and equipment and assets held for sale 2,330 3,045
Purchase of marketable securities (2,783) (9,628)
Proceeds from disposition of marketable securities 2,828 10,048
Purchase of derivative assets and liabilities 0 (78,463)
Settlement of derivative assets and liabilities 1,396 79,924
Equipment and construction prepayments (51,721) (4,771)
Proceeds from disposal of businesses 13,129 47,538
Acquisition of business 0 (48,084)
Investment in equity securities 0 (1,250)
Net change in cash related to investing activities (40,890) 74,030
Cash flows from financing activities    
Repayment of long-term debt (113,637) (209)
Repayment of finance lease liabilities (280) (394)
Issuance of common shares and warrants 0 23,608
Proceeds from long-term debt, net of transaction costs 445,124 47,544
Exercise of stock options 7,017 3
Purchase of capped calls (41,840) 0
Net change in cash related to financing activities 296,384 70,552
Net increase in cash and restricted cash 137,879 50,860
Cash and restricted cash, beginning of the period 630,962 59,542
Exchange rates differences on currency translation 52 37
Cash and restricted cash, end of the period 768,893 110,439
Cash flows from discontinued operations $ 11,735 $ 3,806