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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 38,241 $ 62,789
Restricted cash 256,237 0
Derivative asset 17,958 0
Prepaid expenses and other current assets 2,089 1,149
Total current assets 314,525 63,938
Property, plant and equipment, net 2,437,733 218,646
Operating lease right-of-use assets 170,827 1,474
Debt issuance costs 389,695 0
Other non-current assets 11,021 28,372
Total assets 3,323,801 312,430
Current liabilities:    
Accounts payable 243,129 1,084
Accrued and other current liabilities 299,264 23,184
Common stock warrant liabilities 6,851 0
Operating lease liabilities 3,143 1,093
Total current liabilities 552,387 25,361
Common stock warrant liabilities 1,818 6,790
Operating lease liabilities 145,962 465
Derivative liability 66,899 0
Debt, net 1,816,301 0
Other non-current liabilities 0 23,000
Total liabilities 2,583,367 55,616
Commitments and contingencies (Note 16)
Series A-C convertible preferred stock (Note 10) 0 202,443
Stockholders’ equity:    
Common stock, $0.0001 par value, 480.0 million authorized: 256.5 million and 143.5 million outstanding, respectively 26 14
Treasury stock: 2.2 million and 1.0 million respectively, at cost (14,214) (4,587)
Preferred stock, $0.0001 par value, 0.5 million authorized after designation of the convertible preferred stock: none outstanding 0 0
Additional paid-in-capital 693,883 289,084
Accumulated deficit (391,772) (230,140)
Total stockholders' equity 287,923 54,371
Non-controlling interest 452,511 0
Total equity 740,434 54,371
Total liabilities, convertible preferred stock and stockholders’ equity $ 3,323,801 $ 312,430