7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
      
    		                        
      operating activities
    		                        
      net income
    		104,480,000 219,454,000 -296,367,000 136,435,000 -154,362,000 -84,449,000 211,777,000 79,228,000 -45,325,000 -27,687,000 -55,688,000 -155,779,000 -23,069,000 -366,334,000 35,629,000 -15,343,000 19,337,000 7,530,000 3,917,000 -13,750,427 -12,686,400 -6,526,940 -24,433,838 -16,565,350 
      adjustments to reconcile net income to net cash from operating activities:
    		                        
      stock-based compensation
    		32,858,000 30,120,000 29,576,000 30,502,000 30,567,000 32,135,000 32,000,000 17,518,000 13,519,000 3,429,000 -2,296,000 17,251,000 3,561,000 701,000 3,042,000 36,023,000 969,000 936,000 559,000 235,042 513,217 1,655,160 1,608,086 883,943 
      depreciation and amortization
    		82,929,000 83,197,000 77,926,000 82,384,000 60,000,000 37,326,000 32,343,000 62,283,000 64,569,000 66,162,000 59,340,000 46,584,000 26,559,000 20,562,000 14,245,000 12,207,000 5,738,000 2,846,000 1,733,000 23,839 -418,292 658,338 2,870,899 2,156,427 
      amortization of license fee revenue
    		-364,000 0 -24,000 -24,000 -25,000 -24,000 -24,000 -24,000 -25,000 -24,000 -24,000 -24,000 -25,000 -24,000 -24,000 -25,000 -24,000 -24,000 -24,000 -24,175 -24,175 -24,174 -24,175 -24,174 
      noncash lease expense
    		1,614,000 1,390,000 1,261,000 1,199,000 1,033,000 868,000 808,000 651,000 724,000                
      amortization of debt issuance costs
    		1,367,000 1,124,000 752,000                      
      change in fair value of bitcoin
    		-133,120,000 -470,812,000 208,040,000 -291,178,000 -8,554,000 76,403,000 -234,080,000                  
      change in fair value of derivative asset
    		-10,792,000 42,747,000 -41,894,000 -21,879,000 24,318,000 -27,484,000 -20,232,000 4,553,000 -3,943,000 -13,109,000 5,778,000 15,447,000 17,749,000 -60,931,000 -43,683,000 -7,413,000         
      change in fair value of contingent consideration
    		1,000 -9,390,000 -8,252,000         -335,000 0 0 176,000          
      loss on contract settlement
    		0                        
      gain on acquisition post-close dispute settlement
    		0                        
      impairment of property and equipment
    		                        
      (gain) loss on equity method investment - marketable securities
    		-28,903,000                        
      gain on sale/exchange of equipment
    		-2,742,000 350,000 129,000 17,361,000 0   0 5,306,000                
      revenue recognized from bitcoin mined
    		-160,792,000 -140,889,000 -142,859,000 -126,351,000 -67,491,000 -55,764,000 -71,396,000                  
      proceeds from sale of bitcoin
    		   0 0 0 9,518,000 57,386,000 29,671,000   27,038,000             
      changes in assets and liabilities:
    		                        
      (increase)/decrease in operating assets
    		3,438,000 -11,440,000 39,000 -13,138,000 10,433,000 8,801,000 1,743,000 749,000 -23,623,000 -62,172,000 91,398,000              
      increase/(decrease) in operating liabilities
    		-19,268,000 19,456,000 -13,625,000 30,451,000 9,668,000 -5,930,000 -20,310,000 34,487,000 -6,363,000 -30,554,000 -5,886,000              
      net cash from operating activities
    		-114,015,000 -231,325,000 -122,060,000 -98,356,000 -56,331,000 -42,512,000 -57,853,000 45,035,000 -6,166,000 -38,147,000 32,363,000 1,270,000 13,653,000 30,925,000 -45,318,000 -33,794,000 -21,204,000 -5,989,000 -2,325,000 -3,184,652 -3,086,944 -6,384,709 -3,950,406 -5,629,597 
      capex
    		-25,688,000 -60,377,000 -32,858,000 -58,206,000 -71,286,000 -53,539,000 -57,309,000 -45,495,000 -40,785,000 -56,469,000 -50,955,000 -18,740,000 -52,269,000 -40,324,000 -37,079,000 -71,732,000 0 -2,270,000 -1,874,000 -3,024 116,146 -227,211 -1,161,656 -18,922,569 
      free cash flows
    		-139,703,000 -291,702,000 -154,918,000 -156,562,000 -127,617,000 -96,051,000 -115,162,000 -460,000 -46,951,000 -94,616,000 -18,592,000 -17,470,000 -38,616,000 -9,399,000 -82,397,000 -105,526,000 -21,204,000 -8,259,000 -4,199,000 -3,187,676 -2,970,798 -6,611,920 -5,112,062 -24,552,166 
      ​
    		                        
      investing activities
    		                        
      block mining acquisition, net of cash acquired
    		                        
      acquisition of assets from rhodium
    		0                        
      acquisition of land
    		                        
      deposits on equipment
    		-51,668,000 -59,748,000 -26,655,000 -111,297,000 -52,189,000 -139,658,000 -139,329,000 -139,885,000    0 -2,438,000 -89,324,000 -103,161,000 -18,172,000 -28,633,000 -56,353,000 -21,739,000      
      security deposits
    		-146,000 0 286,000 313,000 -4,227,000 -26,000 -155,000    -23,000,000          0 0 -29,812 -673,463 
      proceeds from the sale of equity method investment - marketable securities
    		91,411,000                        
      investment in equity method investment - marketable securities
    		   0                     
      purchases of property and equipment, including construction in progress
    		-25,688,000 -60,377,000 -32,858,000 -58,206,000 -71,286,000 -53,539,000 -57,309,000 -45,495,000 -40,785,000 -56,469,000 -50,955,000 -18,740,000 -52,269,000 -40,324,000 -37,079,000 -71,732,000         
      purchases of right-of-use assets
    		                        
      casualty-related recoveries
    		47,000   618,000 0 187,000 2,300,000                  
      net cash from investing activities
    		118,654,000 19,208,000 -59,227,000 -782,617,000 -205,499,000 -326,196,000 -194,493,000 -182,380,000 -124,928,000 -33,470,000 -73,988,000 -25,466,000 -59,476,000 -129,655,000 -140,266,000 -89,824,000 -72,513,000 -58,661,000 -16,307,000 975,281     
      financing activities
    		                        
      proceeds from the issuance of common stock / at-the-market offering
    		75,738,000 53,868,000 70,035,000 230,604,000 219,416,000 173,786,000 353,224,000 453,830,000 136,170,000   0 32,112,000   35,699,000 0 84,817,000 215,176,000      
      offering costs for the issuance of common stock / at-the-market offering
    		-1,619,000 -1,211,000 -1,630,000 -4,746,000 -4,603,000 -3,564,000 -7,480,000 -9,289,000 -3,599,000   -185,000 -740,000   -908,000 0 -2,137,000 -5,661,000      
      proceeds from revolving credit facilities
    		0                        
      repayments of revolving credit facilities
    		0                        
      proceeds from credit facility
    		0                        
      debt issuance costs
    		0 -2,332,000 -64,000     5,000                 
      repayment of debt assumed in block mining acquisition
    		                        
      repurchase of common shares to pay employee withholding taxes
    		-2,649,000 -103,000 -484,000 -84,000 -709,000 -8,771,000 -1,998,000 -110,000 -974,000 -11,638,000 -1,313,000 -265,000 -1,058,000 -508,000 -8,307,000 -476,000 -112,000 -1,206,000 -94,000      
      net cash from financing activities
    		71,470,000 304,494,000 67,857,000 803,892,000 209,044,000 161,379,000 343,674,000 444,407,000 132,025,000 173,023,000 -933,000 -450,000 30,314,000 255,632,000 -13,150,000 34,315,000 -112,000 82,280,000 211,928,000      
      net increase in cash and cash equivalents and restricted cash
    		76,109,000 92,377,000 -113,430,000 -77,081,000                     
      cash and cash equivalents and restricted cash at beginning of period
    		0 0 351,301,000 0                     
      cash and cash equivalents and restricted cash at end of period
    		76,109,000 92,377,000 237,871,000 -77,081,000                     
      unrealized (gain) loss on equity method investment - marketable securities
    		  63,238,000 55,869,000                     
      repayments of credit and security facility
    		   -664,000 -58,000 -72,000 -72,000 -2,529,000 -3,030,000 0 -500,000              
      issuance of common stock to a third-party advisor
    		                        
      deferred income tax expense
    		       0 0 0 -5,045,000     0         
      impairment of bitcoin
    		        4,041,000 5,638,000 4,472,000 15,288,000             
      impairment of goodwill
    		           0 -13,500,000            
      impairment of miners
    		                        
      realized gain on sale of bitcoin
    		        -13,495,000 -19,828,000 -13,775,000              
      casualty-related charges
    		       0 0 0 1,526,000              
      proceeds from the sale of marketable equity securities
    		           1,104,000 0            
      e4a solutions acquisition, net of cash acquired
    		                        
      acquisition of bitcoin
    		                        
      investment in convertible debt
    		                        
      proceeds from the sale of equipment
    		       0                 
      patent costs incurred
    		       0 0 -1,000 -33,000 -9,500,000 1,000 -2,000 -26,000 0 22,000 -38,000 -13,000      
      proceeds from issuance of convertible notes
    		                   3,000,000     
      payments on contingent consideration liability - future power credits
    		           0             
      proceeds from credit and security facility
    		       2,500,000 3,540,000 0 880,000              
      repayment of note payable
    		                        
      acquisition of block mining, net of cash acquired
    		                        
      repayment of debt assumed in acquisition of block mining
    		                        
      unrealized gain on marketable equity securities
    		                        
      investment in marketable equity securities
    		                        
      net increase in cash and cash equivalents
    		     -207,329,000 91,328,000 307,062,000 931,000      -198,734,000 -89,303,000 -93,829,000 17,630,000 193,296,000 790,629 -1,381,695 -46,949 -3,603,500 -36,394,431 
      cash and cash equivalents at beginning of period
    		     0 597,169,000 0 0    0 0 312,315,000 0 0 223,382,000  225,390  0 0 41,651,965 
      cash and cash equivalents at end of period
    		     -207,329,000 688,497,000 307,062,000 931,000    -15,509,000 156,902,000 113,581,000 -89,303,000 -93,829,000 241,012,000  1,016,019  -46,949 -3,603,500 5,257,534 
      issuance of common stock warrant for settlement of advisory fees
    		                        
      realized loss on sale of marketable equity securities
    		                        
      realized gain on sale/exchange of long-term investment
    		               0         
      unrealized loss on marketable equity securities
    		              1,611,000          
      bitcoin mining revenue
    		       -60,009,000 -31,222,000 -49,742,000 -48,023,000              
      acquisition of whinstone, net of cash acquired
    		               0         
      acquisition of ess metron, net of cash acquired
    		                        
      proceeds from the sale of long-term investments
    		               0         
      proceeds from exercise of common stock warrants
    		               0 0 806,000 2,507,000      
      amortization of right of use assets
    		          586,000 9,290,000 2,084,000 450,000 357,000 -79,000   0 567,131     
      net increase in cash, cash equivalents, and restricted cash
    		          -42,558,000              
      cash, cash equivalents, and restricted cash at beginning of period
    		          230,328,000              
      cash, cash equivalents, and restricted cash at end of period
    		          187,770,000              
      cash flows from operating activities
    		                        
      income tax expense
    		             -6,199,000 312,000          
      impairment of long-term investment
    		                  0      
      reversal of registration rights penalty
    		                  0      
      realized gain on sale/exchange of bitcoin
    		           -4,903,000             
      gain on exchange of equipment
    		           0 -7,667,000            
      accounts receivable
    		           -9,547,000 -1,294,000 -72,000 -621,000 -3,604,000         
      costs and estimated earnings in excess of billings
    		           -4,624,000 -1,340,000 -2,721,000 -1,196,000          
      prepaid expenses and other current assets
    		           -10,561,000 -9,101,000 7,959,000 -13,817,000 -492,000 1,745,000 628,000 259,000 584,844 577,285 -1,638,149 193,704 27,438 
      future power credits
    		           15,061,000 14,481,000 24,784,000 4,667,000          
      accounts payable
    		           5,780,000 -6,097,000 7,492,000 -8,768,000 -13,956,000 12,850,000 2,186,000  -374,144 435,345 680,330 1,202,413 1,101,198 
      billings in excess of costs and estimated earnings
    		           -2,783,000 4,840,000 1,426,000 -301,000          
      accrued expenses
    		           15,491,000 8,671,000 -7,979,000 -2,628,000 1,001,000 -471,000 2,850,000  990,517 28,255 18,042 726,482 526,590 
      customer deposits
    		           -89,000 46,000 2,054,000 -22,000 3,427,000         
      deferred revenue
    		           -144,000 -558,000 -549,000 -540,000 -686,000         
      lease liability
    		           -9,158,000 -1,959,000 -367,000 -369,000 78,000   0 -590,514     
      cash flows from investing activities
    		                        
      other deposits
    		           1,670,000 -4,770,000            
      cash flows from financing activities
    		                        
      cash and cash equivalents at beginning of year
    		                        
      cash and cash equivalents at end of year
    		                        
      income tax (benefit) expense
    		                        
      realized loss on sale of marketable securities
    		                        
      bitcoin - mining
    		                        
      accrued compensation
    		            1,943,000 618,000 -3,298,000          
      net decrease in cash and cash equivalents
    		            -15,509,000            
      supplemental disclosure of cash flow information:
    		                        
      cash paid for interest
    		                    0 5,059 307 1,219 
      cash paid for taxes
    		                        
      supplemental disclosure of noncash investing and financing activities:
    		                        
      issuance of common stock for business combination
    		               0         
      reclassification of deposits to property and equipment
    		            191,716,000 57,383,000 38,965,000 5,718,000 22,277,000 18,716,000       
      conversion of preferred stock to common stock
    		            0 0 11,000 0 0 11,000   0 3,179,402 1,195,257 2,815,498 
      property and equipment obtained in exchange transaction
    		            0            
      construction in progress included in accrued expenses
    		              946,000          
      impairment of cryptocurrencies
    		             99,787,000 26,390,000 0   0      
      realized gain on sale/exchange of cryptocurrencies
    		             -14,353,000 -9,236,000 -65,000         
      unrealized (gain)/loss on marketable equity securities
    		                        
      cryptocurrencies - mining
    		             -46,072,000 -56,662,000          
      proceeds from sale of cryptocurrencies
    		             23,698,000 9,418,000    7,269,000      
      payments on contingent consideration liability – future power credits
    		                        
      payments on contingent consideration liability
    		              -4,843,000          
      gain on sale of equipment
    		                        
      issuance of common stock to settle previously accrued executive compensation
    		                  0      
      cryptocurrencies received from sale of equipment
    		                  0      
      cryptocurrencies - mining, net of mining pool operating fees
    		                -31,198,000 -22,941,000 -5,215,000      
      proceeds from sale of digital currencies
    		                   1,004,264 1,866,053 5,744,372   
      purchases of property and equipment
    		                 -2,270,000 -1,874,000 -3,024 116,146 -227,211 -1,161,656 -18,922,569 
      deferred income tax benefit
    		                    2,826,000 0 -472,000 -3,053,000 
      loss on issuance of convertible notes, common stock and warrants
    		                   6,154,660     
      change in fair value of convertible notes
    		                   1,644,582     
      change in fair value of warrant liability
    		                   2,753,228     
      gain on deconsolidation of tess
    		                        
      impairment of intangible rights acquired
    		                        
      gain on extinguishment of accounts payable, other liabilities and accrued interest
    		                        
      accrued interest on verady investment
    		                        
      accounts payable and accrued expenses
    		                        
      proceeds from sale of equipment
    		                  50,000      
      repayment of notes payable and other obligations
    		                    0 0 -54,534 -81,040 
      reclassification of deposits for miners
    		                        
      conversion of notes payable to common stock
    		                        
      reclassification of warrant liability to equity
    		                        
      common stock issued in connection with conversion of notes payable
    		                        
      cryptocurrencies used to purchase miners
    		                        
      gain on extinguishment of accounts payable, other liabilities and accrued expenses
    		                        
      realized gain on exchange of cryptocurrencies
    		                        
      gain on sale of equipment
    		                        
      income from discontinued operations
    		                    0 0 192,264 -96,132 
      income from continuing operations
    		                   -13,750,427 -12,686,400 -6,526,940 -24,433,838 -16,661,482 
      adjustments to reconcile net income from continuing operations to net cash from operating activities of continuing operations:
    		                        
      common stock issued for services
    		                    125,001 0 257,940 20,000 
      impairment of digital currencies
    		                    126,274    
      realized gain on sale of digital currencies
    		                   -4,788 424,898    
      prepaid contracts
    		                     1,000,000 1,000,000 -3,584,699 
      digital currencies - mining, net of mining pool operating fees
    		                   -1,377,869     
      accrued interest
    		                   -16,578     
      net cash from operating activities of continuing operations
    		                   -3,184,652 -3,086,944 -6,384,709 -3,950,406 -5,560,773 
      net cash from operating activities of discontinued operations
    		                    0 0 0 -68,824 
      cash flows from investing activities - continuing operations:
    		                        
      purchase of digital currencies
    		                    97,713 -97,545   
      purchases of other investments
    		                    0 0 0 -6,412,726 
      purchases of patent and trademark application costs
    		                   -25,959 -26,747 -1,782 -6,994 -24,074 
      investment in logical brokerage, net of cash acquired
    		                    1 0 0 -516,918 
      purchase of developed technology by 1172767 b.c. ltd.
    		                        
      cash flows from financing activities - continuing operations:
    		                        
      proceeds from exercise of warrants
    		                    0 0 0 350,000 
      proceeds from exercise of stock options
    		                    0 0 0 78,522 
      proceeds from sale of riot shares held by 1172767 b.c. ltd.
    		                        
      net cash from financing activities of continuing operations
    		                   3,000,000 -292,324 1,391,083 -54,053 1,442,556 
      value of shares issued for prive asset acquisition
    		                    0 0 0 8,480,000 
      deferred purchase price for bmss
    		                    150,000 -150,000 0 1,500,000 
      amortization of debt discount
    		                        
      loss on extinguishment of bmss payable
    		                        
      inducement expense on warrant exercises
    		                        
      goodwill impairment charge
    		                        
      acquired rights impairment charge
    		                        
      loss on sale of property and equipment
    		                        
      proceeds from sale of short-term investments
    		                        
      net cash acquired from purchase of subsidiaries
    		                        
      net cash from investing activities of continuing operations
    		                    1,997,573 4,946,677 400,959 -32,207,390 
      net cash from investing activities of discontinued operations
    		                        
      net cash (used in ) provided by investing activities
    		                    1,997,573 4,946,677 400,959 -32,207,390 
      proceeds from issuance of common stock, net of 500,000 in offering expenses
    		                        
      redemption of equity rights
    		                        
      special dividend payment
    		                        
      proceeds from notes payable
    		                    0 920,528 481 775,074 
      payments on bmss purchase agreement
    		                        
      proceeds from common shares sold by 1172767 b.c. ltd.
    		                        
      refund of escrow dividend
    		                    7,676    
      value of preferred shares issued for kairos asset acquisition
    		                        
      value of common shares issued for tess asset acquisition
    		                        
      preferred stock canceled
    		                        
      deferred tax liability for logical brokerage
    		                        
      acquisition of assets for installment obligations
    		                        
      amortization of discount on convertible debt
    		                        
      stock issued for the extinguishment of the bmss payable
    		                        
      property, plant & equipment impairment charge
    		                        
      digital currencies - mining
    		                        
      investment in coinsquare
    		                        
      purchase of developed technology by 1172767
    		                        
      proceeds from issuance of common stock, net of 336,491 in offering expenses
    		                        
      proceeds from sale of riot shares held by 1172767
    		                        
      proceeds from common shares sold by 1172767
    		                        
      conversion of notes payable and accrued interest to preferred stock
    		                        
      adjustments to reconcile net income from continuing operations to net cash from operating activities of continuing operations :
    		                        
      asset impairment charge
    		                      15,377,532 11,480,491 
      revaluation of digital currencies
    		                      511,170 2,467,875 
      digital currencies
    		                      -2,768,619 -901,380 
      continuing operations:
    		                        
      purchase of developed technology
    		                      -27,379 -32,640 
      proceeds from issuance of common stock, net of 336,476 in offering expenses
    		                        
      proceeds from sale of riot shares held by tess
    		                      0 320,000 
      other non-cash charges
    		                        
      cash flows from investing activities continuing operations:
    		                        
      purchase of digital currency
    		                       -5,625,000 
      net cash (used in) investing activities of discontinued operations
    		                        
      cash flows from operating activities:
    		                        
      (loss) from discontinued operations
    		                        
      adjustments to reconcile net income from continuing operations to net cash used
    		                        
      in operating activities of continuing operations:
    		                        
      stock-based compensation for services
    		                        
      amortization of license fees
    		                        
      gain on sale of property and equipment
    		                        
      change in:
    		                        
      net cash (used in) operating activities of continuing operations
    		                        
      net cash (used in) operating activities of discontinued operations
    		                        
      net cash (used in) operating activities
    		                        
      cash flows from investing activities:
    		                        
      purchases of short-term investments
    		                        
      proceeds from sales of short-term investments
    		                        
      proceeds from sale of property and equipment
    		                        
      cash flows from financing activities:
    		                        
      net proceeds from issuance of common stock, net of 294,026 in offering expenses
    		                        
      cash paid during the period for interest
    		                        
      supplemental disclosure of investing information:
    		                        
      liability payoffs upon property sale
    		                        
      adjustments to reconcile net income to
    		                        
      net cash used by operating activities:
    		                        
      other noncash charges
    		                        
      amortization of license fee
    		                        
      gain on equipment disposals
    		                        
      sales of short-term investments
    		                        
      purchases of patent and other assets
    		                        
      net proceeds from issuance of common stock
    		                        
      cash and cash equivalents, at beginning of year
    		                        
      cash and cash equivalents, at end of year
    		                        
      cash paid during the year for:
    		                        
      interest
    		                        
      schedule of non-cash investing and financing transactions:
    		                        
      acquisitions of assets for installment obligations
    		                        
      (gain) loss on equipment disposals
    		                        
      net cash from operating activities:
    		                        
      net proceeds from sale of common stock
    		                        
      gain on contract termination
    		                        
      loss on equipment disposals
    		                        
      net cash from (provided by) investing activities
    		                        
      impairment charges
    		                        
      accounts receivable - trade
    		                        
      increase in:
    		                        
      purchases of investment securities
    		                        
      sales of investment securities
    		                        
      patent and trademark application costs
    		                        
      proceeds from exercise of warrants and options
    		                        
      decrease in:
    		                        
      patent and trademark acquisition costs
    		                        
      repayment of notes payable and other obligation
    		                        
      acquisitions of current assets for installment obligations
    		                        
      accrued liabilities
    		                        
      non-cash charges
    		                        
      inventories
    		                        
      accrued liabilities and deferred revenue
    		                        
      proceeds from exercise of stock warrants and options
    		                        
      repayment of notes payable
    		                        
      repurchase of common stock
    		                        
      net cash used by operating activities
    		                        
      stock based compensation for services
    		                        
      write-down of assets
    		                        
      purchase of other assets
    		                        
      acquisition of patent rights for installment obligation
    		                        
      noncash charges
    		                        
      other long-term assets
    		                        
      acquisition of patent rights for deferred installment obligation
    		                        
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.