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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities    
Net loss $ (99,095) $ (5,261)
Net income from discontinued operations (including gain on sale of MTI Instruments of $7,751 for the year ended December 31, 2022) (7,921) (1,127)
Net loss from continuing operations (107,016) (6,388)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation expense 18,731 2,124
Amortization expense 9,483 1,579
Stock-based compensation 3,673 1,941
Consultant stock compensation 179 104
Deferred income taxes (1,388) 41
Impairment on fixed assets 47,372
Amortization of operating lease asset 202 169
Impairment on equity investment 750
Loss on debt extinguishment and revaluation, net 11,130
Amortization on deferred financing costs and discount on notes 6,538 1,876
Loss on sale of fixed assets 4,089
Changes in operating assets and liabilities:    
Accounts receivable 211 (471)
Prepaid expenses and other current assets 146 (956)
Other long-term assets (29) (812)
Accounts payable 553 2,765
Deferred revenue 137 316
Operating lease liabilities (197) (156)
Other liabilities (308) 306
Accrued liabilities (374) 2,197
Net cash (used in) provided by operating activities (6,118) 4,635
Net cash provided by operating activities- discontinued operations 369 917
Investing Activities    
Purchases of property, plant, and equipment (63,684) (45,792)
Purchases of intangible assets (76) (1,567)
Proceeds from disposal on property, plant, and equipment 2,605
Deposits of equipment, net 6,441 (9,909)
Net cash used in investing activities (54,714) (57,268)
Net cash provided by (used in) investing activities- discontinued operations 9,084 (37)
Financing Activities    
Proceeds from preferred offerings 16,658 27,965
Proceeds from common stock offering 2,858 17,250
Proceeds from notes and debt issuance 30,543 15,000
Costs of preferred offering (1,910) (2,707)
Costs of common stock offering (504) (1,847)
Costs of notes and short-term debt issuance (2,078) (1,338)
Cash dividend distribution on preferred stock (3,852) (630)
Borrowings under line of credit 1,000
Payments on NYDIG loans and line of credit (4,491)
Contributions from non-controlling interest 4,786
Proceeds from stock option exercises 153 102
Proceeds from common stock warrant exercises 779 4,586
Net cash provided by financing activities 42,942 59,381
(Decrease) increase in cash & restricted cash-continuing operations (17,890) 6,748
Increase in cash & restricted cash- discontinued operations 9,453 880
Cash & restricted cash – beginning of period 10,258 2,630
Cash & restricted cash – end of period 1,821 10,258
Supplemental Disclosure of Cash Flow Information    
Noncash equipment financing 4,620
Interest paid on NYDIG loans and line of credit 1,311 6
Proceed receivable from sale of MTI Instruments 295
Notes converted to common stock 3,295
Warrant consideration in relation to promissory notes and convertible notes 14,602
Promissory note conversion to preferred shares 15,236
Noncash proceed on sale of equipment 210
Purchase of miner equipment using restricted stock (207)
Registration fees in prepaids and accounts payable (200)
Termination shares issued in conjunction with merger for intangible assets 1,917
Warrants exercised prior to year-end not received until subsequent period 206
Share consideration in relation to strategic pipeline contract 33,000
Deferred tax liability in relation to strategic pipeline contract $ 10,934