v3.24.3
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,546,480) $ (17,472,808)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 7,115,404 3,487,866
Noncash lease expense 79,629 70,545
Stock compensation 76,322 917,057
Stock option expense 332,415 1,611,795
Professional fees paid in common shares 100,001
Accrued investment income (123,076) (130,990)
Digital assets other income (4,490) 0
Gain on fair value of Bitcoin, net (3,154,700) 0
Impairment loss on mining machines 1,188,058 0
Impairment loss on digital assets 0 822,650
Impairment loss on hosting deposits 12,941 36,691
Impairment loss on Symbiont assets 0 750,678
Unrealized gain on marketable securities (984) (6,436)
Realized gain on securities 0 (1,788)
Unrealized loss on investment and equity securities 852,624 10,317,613
Loss on disposal of fixed assets 54,506 0
Proceeds from securities 0 554,036
Realized gain on sale of digital assets 0 (1,333,899)
Credit loss on Seastar Medical Holding Corporation notes receivable 0 22,344
Reversal of allowance loss on debt security 0 (1,052,543)
Investments in marketable securities 0 (739,616)
Change in operating assets and liabilities:    
Prepaid expenses and other assets 3,650,696 (123,221)
Hosting deposits 0 (54,691)
Advances (repayments) to related party 41,541 (31,090)
Accounts payable and accrued expenses (664,681) 682,405
Mining of digital assets (8,618,436) (8,352,805)
Proceeds from sale of digital assets 0 7,487,058
Lease liability payments (81,304) (70,563)
Net cash used in operating activities (8,690,014) (2,609,712)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (1,228,428) (1,913,303)
Proceeds from sale of fixed assets 78,806 0
Investment in Tech Infrastructure JV I LLC note receivable (2,867,195) 0
Investment in note receivable 0 (100,000)
Collection of notes receivable 1,449,066 1,761,727
Investment in digital assets 0 (35,157)
Proceeds from sale of digital assets 6,821,185 43,678
Proceeds from the sale of tether 3,003
Symbiont asset acquisition 0 (402,359)
Distribution to members (19,616) 0
Net cash from (used in) investing activities 4,230,632 (640,170)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings 6,344,084 0
Insurance financing repayments (547,022) (499,453)
Insurance financing 0 86,886
Exercise of options 25,000 0
Proceeds from equity offering 2,333,112 0
Issue costs from the issuance of common stock (184,408) (106,550)
Net cash from (used in) financing activities 7,970,766 (519,117)
NET DECREASE IN CASH 3,511,384 (3,768,999)
CASH - BEGINNING OF PERIOD 2,401,831 4,238,006
CASH - END OF PERIOD 5,913,215 469,007
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES    
ROU assets and operating lease obligation recognized 0 21,887
Reclassification of mining equipment deposit to fixed assets, net 0 1,177,226
Change in accounting principle (see Note 1) 614,106  
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION    
Cash paid for taxes 0 0
Cash paid for interest 222,697 0
Original Product [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables (4,618) (8,765)
Special Product [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables $ (1,571) $ 14,009

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