Riot Blockchain (RIOT) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Riot Blockchain, Inc.
Entity Central Index Key	0001167419
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		34,541,380
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Incorporation State Country Code	NV
Entity File Number	001-33675

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 13,956	$ 7,440
Prepaid expenses and other current assets	806	1,349
Cryptocurrencies	5,282	3,839
Total current assets	20,044	12,628
Property and equipment, net	5,866	5,051
Right of use assets	282	367
Deposits on equipment		1,449
Long-term investments	9,723	9,723
Security deposits	703	703
Patents, net	456	459
Total assets	37,074	30,380
Current liabilities
Accounts payable	582	717
Accrued expenses	2,056	2,187
Operating lease liability, current portion	336	368
Deferred revenue, current portion	97	97
Total current liabilities	3,071	3,369
Operating lease liability	20
Deferred revenue, less current portion	752	776
Total liabilities	3,843	4,145
Commitments and contingencies - Note 10
Stockholders' equity
Common stock, no par value; 170,000,000 shares authorized; 31,034,308 and 25,082,872 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	254,731	243,458
Accumulated deficit	(221,515)	(217,238)
Total Riot Blockchain stockholders' equity	33,238	26,242
Non-controlling interest	(7)	(7)
Total stockholders' equity	33,231	26,235
Total liabilities and stockholders' equity	37,074	30,380
2% Series A Convertible Stock [Member]
Stockholders' equity
Preferred stock
0% Series B Convertible Stock [Member]
Stockholders' equity
Preferred stock	$ 22	$ 22

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Preferred stock, par value
Preferred stock, shares authorized	15,000,000	15,000,000
Common stock, par value
Common stock, shares authorized	170,000,000	170,000,000
Common stock, shares issued	31,034,308	25,082,872
Common stock, shares outstanding	31,034,308	25,082,872
2% Series A Convertible Stock [Member]
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
0% Series B Convertible Stock [Member]
Preferred stock, shares authorized	1,750,001	1,750,001
Preferred stock, shares issued	4,199	4,199
Preferred stock, shares outstanding	4,199	4,199

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Total Revenue	$ 2,386	$ 1,430
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization shown below)	1,407	1,471
Selling, general and administrative	3,735	3,152
Depreciation and amortization	663	24
Impairment of cryptocurrencies	989
Total costs and expenses	6,794	4,647
Operating loss	(4,408)	(3,217)
Other income (expense):
Loss on issuance of convertible notes, common stock and warrants		(6,155)
Change in fair value of warrant liability		(2,753)
Change in fair value of convertible notes		(1,645)
Gain on sale of equipment	17
Interest expense	(2)	(68)
Other income		79
Investment income	9	17
Realized gain on exchange of cryptocurrencies	106	5
Other expense	1	(13)
Total other income (expense)	131	(10,533)
Net loss	(4,277)	(13,750)
Net loss attributable to non-controlling interest		221
Net loss attributable to Riot Blockchain	$ (4,277)	$ (13,529)
Basic and diluted net loss per share:
Net loss per share	$ (0.15)	$ (0.94)
Basic and diluted weighted average number of shares outstanding	28,585,915	14,449,628
Revenue - cryptocurrency mining [Member]
Revenue:
Total Revenue	$ 2,362	$ 1,406
License fees [Member]
Revenue:
Total Revenue	$ 24	$ 24

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Accumulated Deficit [Member]	Total Riot Blockchain stockholder's equity [Member]	Noncontrolling Interest [Member]	Total
BALANCE at Dec. 31, 2018	$ 69	$ 202,917	$ (197,199)	$ 5,787	$ (1,296)	$ 4,491
BALANCE, shares at Dec. 31, 2018	13,000	14,519,058
Issuance of common stock to settle executive compensation
Delivery of common stock underlying restricted stock units
Delivery of common stock underlying restricted stock units, shares		93,751
Common stock issued with convertible notes		$ 255		255		255
Common stock issued with convertible notes, shares		150,000
Stock-based compensation		$ 235		235		235
Net Loss attributable to non-controlling interest					(221)	(221)
Net loss			(13,529)	(13,529)		(13,529)
BALANCE at Mar. 31, 2019	$ 69	$ 203,407	(210,728)	(7,252)	(1,517)	(8,769)
BALANCE, shares at Mar. 31, 2019	13,000	14,762,809
BALANCE at Dec. 31, 2019	$ 22	$ 243,458	(217,238)	26,242	(7)	26,235
BALANCE, shares at Dec. 31, 2019	4,199	25,082,872
Issuance of common stock to settle executive compensation		$ 175		175		175
Issuance of common stock to settle executive compensation, shares		122,377
Delivery of common stock underlying restricted stock units
Delivery of common stock underlying restricted stock units, shares		5,000
Issuance of common stock, net of offering costs/At-the-market offering		$ 9,184		9,184		9,184
Issuance of common stock, net of offering costs/At-the-market offering, shares		6,024,059
Cancellation of Prive Escrow shares		$ (200,000)
Stock-based compensation		1,914		1,914		1,914
Net Loss attributable to non-controlling interest
Net loss			(4,277)	(4,277)		(4,277)
BALANCE at Mar. 31, 2020	$ 22	$ 254,731	$ (221,515)	$ 33,238	$ (7)	$ 33,231
BALANCE, shares at Mar. 31, 2020	4,199	31,034,308

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net loss	$ (4,277)	$ (13,750)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	1,914	235
Depreciation and amortization	663	24
Amortization of license fee revenue	(24)	(24)
Amortization of right of use assets	643	567
Impairment of cryptocurrencies	989
Loss on issuance of convertible notes, common stock and warrants		6,155
Change in fair value of convertible notes		1,645
Change in fair value of warrant liability		2,753
Realized gain on exchange of cryptocurrencies	(106)	(5)
Gain on sale of equipment	(17)
Changes in assets and liabilities:
Prepaid expenses and other current assets	543	585
Cryptocurrencies - mining, net of mining pool operating fees	(2,326)	(1,378)
Accrued interest		(17)
Accounts payable	(135)	(374)
Accrued expenses	45	991
Lease liability	(571)	(591)
Net cash used in operating activities	(2,659)	(3,184)
Cash flows from investing activities
Proceeds from sale of cryptocurrencies		1,004
Poceeds from sale of equipment	18
Purchases of property and equipment		(3)
Patent costs incurred	(27)	(26)
Net cash (used in) provided by investing activities	(9)	975
Cash flows from financing activities
Proceeds from issuance of convertible notes		3,000
Proceeds from the issuance of common stock / At-the-market offering	9,495
Offering costs for the issuance of common stock / At-the-market offering	(311)
Net cash provided by financing activities	9,184	3,000
Net increase in cash and cash equivalents	6,516	791
Cash and cash equivalents at beginning of period	7,440	225
Cash and cash equivalents at end of period	13,956	1,016
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for taxes
Supplemental disclosure of noncash investing and financing activities:
Reclassification of deposits on equipment to property and equipment	1,449
Issuance of common stock to settle executive compensation	$ 175

Organization

Organization	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1. Organization Nature of operations: Riot Blockchain, Inc. was originally organized on July 24, 2000, as a Colorado corporation. Effective October 19, 2017, the Company's name was changed to Riot Blockchain, Inc., from Bioptix, Inc., and, effective October 19, 2017, the Company changed its state of incorporation to Nevada from Colorado. The Company operates a cryptocurrency mining operation, which utilizes specialized computers (also known as “miners”) that generate cryptocurrency (primarily bitcoin) from the Blockchain. The Company acquired approximately 8,000 miners through its acquisition of Kairos Global Technology, Inc., (“Kairos”) in November 2017, and from Prive Technologies, Inc. (“Prive”) Blockchain Mining Supply & Services Ltd. (“BMSS”) in February 2018. In December 2019, the Company purchased 4,000 next generation Bitmain Antminer S17 Pro for approximately $6.3 million from BitmainTech PTE. LTD. (“Bitmain”). In December 2019, 3,000 miners were received at the Company’s Oklahoma City facility, and the remaining 1,000 miners were received in early 2020. In February 2020, all of the 4,000 model S17 miners we purchased from Bitmain were installed and operational. As part of this upgrade, due to power and infrastructure considerations, virtually all of the previously acquired miners were taken offline and their future use is being evaluated.

Liquidity and Financial Conditi

Liquidity and Financial Condition	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity and Financial Condition	Note 2. Liquidity and Financial Condition The Company has experienced recurring losses and negative cash flows from operations. At March 31, 2020, the Company had approximate balances of cash and cash equivalents of $14.0 million, cryptocurrencies of $5.3 million, working capital of $17.0 million, total stockholders' equity of $33.2 million and an accumulated deficit of $221.5 million. To date, the Company has, in large part, relied on equity and debt financing to fund its operations. The Company expects to continue to incur losses from operations for the near-term and these losses could be significant as the Company incurs costs and expenses associated with recent and potential future acquisitions, as well as public company, legal and administrative related expenses being incurred. The Company is closely monitoring its cash balances, cash needs and expense levels. As disclosed in Note 8, the Company entered into a Sales Agreement with H.C. Wainwright & Co., LLC (“H.C. Wainwright”) dated May 24, 2019 (the “Sales Agreement”), pursuant to which the Company may, from time to time, sell up to $100.0 million in shares of the Company’s common stock through H.C. Wainwright, acting as the Company’s sales agent and/or principal, in an at-the-market offering (“ATM Offering”). All sales of the shares in connection with the ATM Offering have been made pursuant to an effective shelf registration statement on Form S-3 filed with the SEC. The Company pays H.C. Wainwright a commission of approximately 3.0% of the aggregate gross proceeds the Company received from all sales of the Company's common stock under the Sales Agreement. The Company received proceeds on sales of 6,024,059 shares of common stock under the Sales Agreement of approximately $9.5 million (excluding commissions of $0.3 million) at a weighted average price of $1.58 during the three months ended March 31, 2020. Subsequent to March 31, 2020, in connection with the Sales Agreement, the Company received gross proceeds of approximately $4.3 million from the sale of 3,507,072 shares of common stock. The Company believes its current cash on hand is sufficient to meet its operating and capital requirements for at least the next twelve months from the date these financial statements are issued. The impact of the worldwide spread of a novel strain of coronavirus (“COVID 19”) has been unprecedented and unpredictable, but based on the Company’s current assessment, the Company does not expect any material impact on its long-term strategic plans, operations and its liquidity due to the worldwide spread of COVID-19. However, the Company is continuing to assess the effect on its operations by monitoring the spread of COVID-19 and the actions implemented to combat the virus throughout the world and its assessment of the impact of COVID-19 may change.

Basis of presentation, summary

Basis of presentation, summary of significant accounting policies and recent accounting pronouncements	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of presentation, summary of significant accounting policies and recent accounting pronouncements	Note 3. Basis of presentation, summary of significant accounting policies and recent accounting pronouncements Basis of presentation and principles of consolidation The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. In the opinion of management, the accompanying unaudited condensed interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of such interim results. The results for the unaudited condensed interim consolidated statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2020 or for any future interim period. The unaudited condensed interim consolidated financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2019 and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2020. The accompanying interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. The most significant accounting estimates inherent in the preparation of the Company's unaudited condensed interim consolidated financial statements include estimates associated with revenue recognition, asset valuations, the useful lives and recoverability of long-lived assets, impairment analysis of intangibles, stock-based compensation, assumptions used in estimating the fair value of convertible notes and warrants, and the valuation allowance associated with the Company’s deferred tax assets. Significant Accounting Policies: For a detailed discussion about the Company’s significant accounting policies, see the Company’s December 31, 2019 consolidated financial statements included in its December 31, 2019 Annual Report on Form 10-K. Loss per share Basic net loss per share (“EPS”) of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. The Company excludes its unvested restricted shares and escrow shares from the net loss per share calculation. The escrow shares are excluded because of related contingencies and including them would result in anti-dilution. Since the Company has net losses attributable to Riot Blockchain, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future were not included in the computation of diluted loss per share at March 31, 2020 and 2019 because their inclusion would be anti-dilutive are as follows: March 31, 2020 2019 Warrants to purchase common stock 3,554,257 3,579,257 Options to purchase common stock 12,000 62,000 Escrow shares — 200,000 Unvested restricted stock awards 1,445,024 33,542 Convertible Series B preferred shares 4,199 13,000 Convertible notes — 1,813,500 Total 5,015,480 5,701,299 Recently issued and adopted accounting pronouncements: The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company's financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and assures that there are proper controls in place to ascertain that the Company's condensed consolidated financial statements properly reflect the change. In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Acquisitions - Prive share escr

Acquisitions - Prive share escrow status	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisitions - Prive share escrow status	Note 4. Acquisitions - Prive share escrow status In February 2020, the conditions were not achieved by the date specified to provide for the release of 200,000 shares of the Company’s common stock, which shares were being held in escrow in connection with the Prive acquisition pursuant to the Escrow Deposit Agreement. After receiving notification on March 4, 2020 that the conditions set forth in the Escrow Deposit Agreement were not timely met, the Escrow Agent returned and canceled the 200,000 shares.

Cryptocurrencies

Cryptocurrencies	3 Months Ended
	Mar. 31, 2020
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Cryptocurrencies	Note 5. Cryptocurrencies The following table presents additional information about cryptocurrencies (in thousands): Beginning balance, January 1, 2020 $ 3,839 Revenue recognized from cryptocurrencies mined 2,362 Mining pool operating fees (36 ) Realized gain on exchange of cryptocurrencies 106 Impairment of cryptocurrencies (989 ) Ending balance, March 31, 2020 $ 5,282

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment Property and equipment consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 (Unaudited) Miners $ 6,458 $ 5,010 Leasehold improvements 38 38 Office and computer equipment 103 103 Total cost of property and equipment 6,599 5,151 Less accumulated depreciation (733 ) (100 ) Property and equipment, net $ 5,866 $ 5,051 During the three months ended March 31, 2020, the Company received 1,000 miners at its Oklahoma City facility, and the related $1.4 million prepayment recorded as a deposit as of December 31, 2019, was reclassified to property and equipment as of March 31, 2020. As of December 31, 2019, approximately $4.9 million of miners had been received but not yet placed in service until January 2020. Depreciation and amortization expense totaled approximately $0.7 million (including $0.03 million of patent amortization) for the three months ended March 31, 2020. Depreciation and amortization expense was nominal for the three months ended March 31, 2019. Depreciation is computed on the straight-line basis for the periods the assets are in service.

Investments

Investments	3 Months Ended
	Mar. 31, 2020
Investments, All Other Investments [Abstract]
Investments	Note 7. Investments Coinsquare As of March 31, 2020 and December 31, 2019 the investment in Coinsquare Ltd. (“Coinsquare”) totaled approximately $9.4 million. The Company determined there were no indicators that would cause an impairment of the Coinsquare investment, and therefore, considered the cost of the investment to not exceed the fair value of the investment and did not observe price changes. Verady The investment in Verady, Inc. (“Verady”) is valued at cost, less any impairment, plus or minus changes resulting from observable price changes. During the three months ended March 31, 2020 the investment in Verady totaled approximately $0.2 million, and the Company determined there were no indicators that would cause an impairment. There were no price changes in orderly transactions for identical or similar investments in Verady. Tess As of March 31, 2020 and December 31, 2019, the fair value of the TessPay Inc. shares owned by the Company is approximately $0.1 million, calculated based upon the April 10, 2019 funding price.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity	Note 8. Stockholders’ Equity At-the-Market Equity Offering: The Company entered into a Sales Agreement with H.C. Wainwright dated May 24, 2019, pursuant to which the Company may, from time to time, sell up to $100 million in shares of the Company’s common stock through H. C. Wainwright, as the Company’s sales agent and/or principal, in the ATM Offering. All sales of the shares have been made pursuant to an effective shelf registration statement on Form S-3 filed with the SEC. The Company pays H.C. Wainwright a commission of approximately 3.0% of the aggregate gross proceeds the Company received from all sales of the Company's common stock under the Sales Agreement. The Company received proceeds on sales of 6,024,059 shares of common stock under the Sales Agreement of approximately $9.5 million at a weighted average price of $1.58 (excluding commissions of $0.3 million) during the three months ended March 31, 2020. After filing the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, the Company’s public float was less than $75 million, which caused the amount that can be sold pursuant to the ATM Offering to be subject to the provisions of General Instruction I.B.6 until its public float is at least $75 million. Common Stock: During the three months ended March 31, 2020, the 200,000 shares of common stock held in escrow under the Escrow Deposit Agreement were voided and cancelled. See Note 4. During the three months ended March 31, 2020, 122,377 shares of common stock were issued to a Company executive under an employment agreement in settlement of $175,000 of previously accrued compensation under the Company’s 2019 Riot Blockchain, Inc. Equity Incentive Plan (the “Equity Plan”), and 5,000 shares of common stock were issued in settlement of fully vested restricted stock rights previously granted and expensed under the Company’s 2017 Equity Incentive Plan.

Stock Options, Warrants and Res

Stock Options, Warrants and Restricted Common Stock	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Options, Warrants and Restricted Common Stock	Note 9. Stock Options, Warrants and Restricted Common Stock Stock based compensation: The Company’s stock-based compensation expenses recognized during the three months ended March 31, 2020 and 2019, were attributable to selling, general and administrative expenses, which are included in the accompanying unaudited condensed interim consolidated statements of operations. The Company recognized total stock-based compensation expense during the three months ended March 31, 2020 and 2019, granted under the Equity Plan, from the following categories (in thousands): Three Months Ended March 31, 2020 2019 Restricted stock awards under the Plan $ 1,914 $ 177 Stock option awards under the Plan — 58 Total stock-based compensation $ 1,914 $ 235 Restricted common stock awards: A summary of the Company’s unvested restricted common stock awards activity in the three months ended March 31, 2020 is presented here: Number of Shares Weighted Average Grant-Date Unvested at January 1, 2020 1,524,499 $ 1.37 Vested (1,623,834 ) $ 1.35 Granted 1,544,359 $ 1.27 Unvested at March 31, 2020 1,445,024 $ 1.29 On February 7, 2020, the Company issued 122,377 shares of common stock as disclosed above, and 5,000 vested restricted stock units to an officer of the Company pursuant to the Equity Plan. On February 7, 2020, in relation to its amended and restated employment agreement with its Chief Executive Officer and Chief Financial Officer, the Company awarded 209,790 restricted common stock units, which vest in four equal quarterly installments, with each quarterly installment vesting as of the end of each quarter pursuant to the Equity Plan. On February 27, 2020, for 2020 services the Company awarded 1,212,192 restricted common stock units vesting over a one-year period to directors and certain employees of the Company issued pursuant to the Equity Plan. The total fair value of restricted stock rights granted during the three months ended March 31, 2020 was approximately $2.0 million. The fair value of each restricted stock right was based upon the closing stock price on the grant date. The fair value of restricted stock rights is measured based on their fair value on the date of grant and amortized over the vesting period of twelve to twenty-four months. As of March 31, 2020, there was approximately $1.7 million of unrecognized compensation cost related to unvested restricted common stock awards, which is expected to be recognized over a remaining weighted-average vesting period of approximately 10 months. Stock incentive plan options: As of March 31, 2020, 12,000 stock options were outstanding under the Equity Plan, with a weighted average exercise price of $4.09, and a weighted average remaining contractual term of approximately 3.5 years. Other common stock purchase warrants: Following is a summary of outstanding warrants that were issued outside of the Equity Plan for the three months ended March 31, 2020: Shares Underlying Options/Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Aggregate Intrinsic Value Outstanding at January 1, 2020 3,574,257 $ 19.48 2.9 $ — Forfeited (20,000 ) $ 3.50 — Outstanding at March 31, 2020 3,554,257 $ 19.57 2.7 $ — Exercisable at March 31, 2020 3,554,257 $ 19.57 2.7 $ — The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company’s closing stock price on March 31, 2020 and the exercise price, multiplied by the number of in-the-money warrants) that would have been received by the warrant holders, had all warrant holders exercised their warrants on March 31, 2020.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 10. Commitments and Contingencies Commitments: Oklahoma Lease Agreement. On January 8, 2020, Kairos entered into a third amendment to the OKC Lease to extend the lease term through May 15, 2020, with all other terms remaining substantially the same as the second amendment to the OKC Lease. On April 10, 2020, Kairos entered into a fourth amendment to the OKC Lease to extend the lease term through June 30, 2020, with all other terms remaining substantially the same as the second amendment to the OKC Lease. Corporate Lease Agreement On April 9, 2018, the Company entered into a commercial lease agreement (the “Florida Lease”) with W-Crocker Fin Place Owner VII, LLC, a Delaware limited liability company, pursuant to which the Company leases approximately 1,700 rentable square feet of office and common area space in Fort Lauderdale, Florida. Pursuant to the terms of the Florida Lease, the initial term is for thirty-nine (39) months expiring on August 9, 2021, with one, five-year option to renew. The initial base rent is $4,658.50 per month (or $2.75 per sq. ft.) for the first year and escalates at the rate of 3.0% per annum thereafter. Additionally, common operating expenses are prorated and charged monthly as additional rent. As of March 31, 2020, the Company vacated the office space related to its Florida lease, and fully expensed the estimated termination expenses of the lease obligation. Operating Leases At March 31, 2020, the Company had operating lease liabilities of approximately $0.3 million and right of use assets of approximately $0.4 million, which are included in the condensed interim consolidated balance sheet. The following summarizes quantitative information about the Company’s operating leases (dollars in thousands): Lease cost Three Months Ended March 31, 2020 Operating lease cost $ 657 Variable lease cost 653 Operating lease expense 1,310 Short-term lease rent expense 5 Total rent expense $ 1,315 Other information Operating cash flows from operating leases $ 584 Right of use assets exchanged for new operating lease liabilities $ 558 Weighted-average remaining lease term – operating leases 0.4 years Weighted-average discount rate – operating leases 10.00 % Maturities of the Company’s operating lease liabilities, are as follows (unaudited) (in thousands): For the nine months ended December 31, 2020 $ 329 For the year ended December 31, 2021 35 Total $ 364 Less present value discount (9 ) Operating lease liabilities $ 356 Rent expense including electric power costs, recorded on a straight-line basis, was approximately $1.3 million and $1.4 million for the three months ended March 31, 2020 and 2019, respectively. Contingencies: The Company, and its subsidiaries, are subject at times to various claims, lawsuits and governmental proceedings relating to the Company’s business and transactions arising in the ordinary course of business. The Company cannot predict the final outcome of such proceedings. Where appropriate, the Company vigorously defends such claims, lawsuits and proceedings. Some of these claims, lawsuits and proceedings seek damages, including, consequential, exemplary or punitive damages, in amounts that could, if awarded, be significant. Certain of the claims, lawsuits and proceedings arising in ordinary course of business are covered by the Company’s insurance program. The Company maintains property and various types of liability insurance in an effort to protect the Company from such claims. In terms of any matters where there is no insurance coverage available to the Company, or where coverage is available and the Company maintains a retention or deductible associated with such insurance, the Company may establish an accrual for such loss, retention or deductible based on current available information. In accordance with accounting guidance, if it is probable that an asset has been impaired or a liability has been incurred as of the date of the financial statements, and the amount of loss is reasonably estimable, then an accrual for the cost to resolve or settle these claims is recorded by the Company in the accompanying consolidated balance sheets. If it is reasonably possible that an asset may be impaired as of the date of the financial statement, then the Company discloses the range of possible loss. Expenses related to the defense of such claims are recorded by the Company as incurred and included in the accompanying consolidated statements of operations. Management, with the assistance of outside counsel, may from time to time adjust such accruals according to new developments in the matter, court rulings, or changes in the strategy affecting the Company’s defense of such matters. On the basis of current information, the Company does not believe there is a reasonable possibility that, other than with regard to the Class Action described below, any material loss, if any, will result from any claims, lawsuits and proceedings to which the Company is subject to either individually, or in the aggregate. Shareholder Class Action Suit On February 17, 2018, Creighton Takata filed an action asserting putative class action claims on behalf of the Company's stockholders in the United District Court for the District of New Jersey, Takata v. Riot Blockchain Inc., et al. On April 18, 2018, Joseph J. Klapper, Jr., filed a complaint against Riot Blockchain, Inc., and certain of its officers and directors in the United District Court for the District of New Jersey ( Klapper v. Riot Blockchain Inc., et al. Lead Plaintiff filed a consolidated complaint on January 15, 2019. Defendants filed motions to dismiss on March 18, 2019. In lieu of opposing defendants’ motions to dismiss, Lead Plaintiff filed another amended complaint on May 9, 2019. Defendants filed multiple motions to dismiss the amended complaint starting on September 3, 2019. On April 30, 2020, the court granted the motions to dismiss, which resulted in the dismissal of all claims without prejudice. If Lead Plaintiff seeks to file another amended complaint, defendants intend to continue to vigorously contest Lead Plaintiff’s amended allegations. Because this litigation is still at this early stage, we cannot reasonably estimate the likelihood of an unfavorable outcome or the magnitude of such an outcome, if any. Shareholder Derivative Cases On April 5, 2018, Michael Jackson filed a shareholder derivative complaint on behalf of the Company in the Supreme Court of the State of New York, County of Nassau, against certain of the Company's officers and directors, as well as against an investor ( Jackson v. Riot Blockchain, Inc., et al. On May 22, 2018, two additional shareholder derivative complaints were filed on behalf of the Company in the Eighth Judicial District Court of the State of Nevada in and for the County of Clark ( Kish v. O'Rourke, et al. Gaft v. O'Rourke, et al. On September 24, 2018, the court entered an order consolidating the Gaft Kish In re Riot BlockChain, Inc. Shareholder Derivative Litigation On October 9, 2018, another shareholder derivative complaint was filed on behalf of the Company in the United District Court for the Eastern District of New York ( Rotkowitz v. O'Rourke, et al. On October 22, 2018, a fifth shareholder derivative complaint was filed on behalf of the Company in the United District Court for the Southern District of New York ( Finitz v. O'Rourke, et al. Defendants intend to vigorously contest plaintiffs’ allegations in the shareholder derivative actions and plaintiffs’ right to bring the action in the name of Riot Blockchain. But because this litigation is still at this early stage, we cannot reasonably estimate the likelihood of an unfavorable outcome or the magnitude of such an outcome, if any. Indemnification Demands On April 3, 2020, a complaint was filed against Riot Blockchain, Inc. (“Riot”) by Barry C. Honig and GRQ Consultants, Inc. (“GRQ”) in the United States District Court for the Southern District of New York, Honig v. Riot Blockchain, Inc. In addition to the suit filed by Mr. Honig and GRQ, other purported parties and beneficiaries of the SPA and RRA have also recently demanded indemnification from Riot related to the same litigation and SEC investigation. Riot believes that it does not owe an indemnification obligation to Mr. Honig, GRQ, or the other purported parties and beneficiaries of the SPA and RRA that have made an indemnification demand. Riot intends to vigorously contest Mr. Honig and GRQ claims, as well as the other demands for indemnification. Nevertheless, since this litigation and demands for indemnification are still in an early stage, we cannot reasonably estimate the likelihood of an unfavorable outcome or the magnitude of such an outcome, if any. Kashwise Demand On February 18, 2020, the Company received a demand letter (the “Kashwise Demand”) on behalf of Kashwise Global Funding, Inc. (“Kashwise”). The Company timely responded to the Kashwise Demand; however, on April 13, 2020, Kashwise filed suit against the Company in the Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida (the “Kashwise Suit”) alleging substantially the same claims as in the Kashwise Demand. The Company has removed the Kashwise Suit to Federal District Court in and for the Southern District of Florida. The Company intends to vigorously dispute Kashwise’s allegations; however, because this litigation is still at this early stage, we cannot reasonably estimate the likelihood of an unfavorable outcome or the magnitude of such an outcome, if any. SEC Subpoena and Other Matters SEC Subpoena On April 9, 2018, the Company received a subpoena from the SEC, requesting documents and information. The Company fully cooperated with the SEC in that investigation. On January 29, 2020, the SEC notified the Company that it had concluded its investigation as to Riot and based on the information the SEC had as of the date of the letter, it does not intend to recommend an enforcement action against Riot. Beneficial Ownership Pursuant to the rules of the SEC, the Company has consistently reported its beneficial ownership positions in its proxy and other filings where beneficial ownership disclosures are presented, for certain beneficial owners with respect to any person (including any “group” as that term is used in Section 13(d)(3) of the Securities and Exchange Act of 1934 (the “Exchange Act”) who is known to the Company to be the beneficial owner of more than 5% of the Company’s common stock. The Company has relied on each person who has reported to the SEC beneficial ownership of more than 5% of our common stock to provide complete and accurate information regarding their ownership, based on the reports filed by these persons. On September 7, 2018, a complaint was filed by the SEC (Case 1:18-cv-08175) and as subsequently amended, (the “Complaint”) against, among others, a number of individuals and entities some of whom the Company has previously disclosed as its beneficial owners, as well as, Mr. John O’Rourke III, the Company’s former chairman of the board of directors and chief executive officer who resigned from the Company on September 8, 2018, as disclosed in the Current Periodic Report on Form 8-K filed September 10, 2018. Other persons named in the Complaint have previously reported that they were beneficial owners of the Company’s common stock, however, the Company has no basis to determine whether any such persons may have operated as a control group, collectively beneficially owning more than 5% of the Company’s common stock.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events: Financing Subsequent to March 31, 2020, in connection with the Company’s Sales Agreement with H.C. Wainwright, the Company received gross proceeds of approximately $4.3 million from the sale of 3,507,072 shares of common stock via the ATM Offering. Agreements On April 8, 2020, the Company entered into an agreement with Coinmint, LLC (“ ”), for up to approximately 9,500 kilowatt hours of energy allocated to the Company for up to 4,000 of its Antminer S17 Pro cryptocurrency miners acquired from Bitmain in late 2019 (the “Miners”). Pursuant to the terms of the Coinmint Agreement, Coinmint will host Riot’s Miners, including performing all maintenance in order to operate the Miners at its Massena, New York facility. In exchange, Coinmint will receive a performance fee based on the net digital assets generated by the Miners deployed at Coinmint’s facility. Riot expects that the Coinmint agreement will reduce its costs associated with operating the Miners and provide Riot with the opportunity to expand its total hashing capacity. The initial term of the Coinmint agreement is for a period of six (6) months after the effective date of April 8, 2020, and provides for automatic renewal terms of three (3) months, unless terminated earlier by Riot or Coinmint upon ninety (90) days’ notice to the other party. Miner Purchase Subsequent to March 31, 2020, the Company purchased 2,040 next generation Bitmain Antminer S19 Pro for USD $4.4 million from BitmainTech PTE. LTD. (“Bitmain”). The Company anticipates the receipt of these S19s by early July 2020.

Basis of presentation, summar_2

Basis of presentation, summary of significant accounting policies and recent accounting pronouncements (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. In the opinion of management, the accompanying unaudited condensed interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of such interim results. The results for the unaudited condensed interim consolidated statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2020 or for any future interim period. The unaudited condensed interim consolidated financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2019 and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2020. The accompanying interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. The most significant accounting estimates inherent in the preparation of the Company's unaudited condensed interim consolidated financial statements include estimates associated with revenue recognition, asset valuations, the useful lives and recoverability of long-lived assets, impairment analysis of intangibles, stock-based compensation, assumptions used in estimating the fair value of convertible notes and warrants, and the valuation allowance associated with the Company’s deferred tax assets. Significant Accounting Policies: For a detailed discussion about the Company’s significant accounting policies, see the Company’s December 31, 2019 consolidated financial statements included in its December 31, 2019 Annual Report on Form 10-K.
Loss per share	Loss per share Basic net loss per share (“EPS”) of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. The Company excludes its unvested restricted shares and escrow shares from the net loss per share calculation. The escrow shares are excluded because of related contingencies and including them would result in anti-dilution. Since the Company has net losses attributable to Riot Blockchain, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future were not included in the computation of diluted loss per share at March 31, 2020 and 2019 because their inclusion would be anti-dilutive are as follows: March 31, 2020 2019 Warrants to purchase common stock 3,554,257 3,579,257 Options to purchase common stock 12,000 62,000 Escrow shares — 200,000 Unvested restricted stock awards 1,445,024 33,542 Convertible Series B preferred shares 4,199 13,000 Convertible notes — 1,813,500 Total 5,015,480 5,701,299
Recently issued and adopted accounting pronouncements	Recently issued and adopted accounting pronouncements: The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company's financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and assures that there are proper controls in place to ascertain that the Company's condensed consolidated financial statements properly reflect the change. In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Basis of presentation, summar_3

Basis of presentation, summary of significant accounting policies and recent accounting pronouncements (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule of Antidilutive Securities	Since the Company has net losses attributable to Riot Blockchain, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future were not included in the computation of diluted loss per share at March 31, 2020 and 2019 because their inclusion would be anti-dilutive are as follows: March 31, 2020 2019 Warrants to purchase common stock 3,554,257 3,579,257 Options to purchase common stock 12,000 62,000 Escrow shares — 200,000 Unvested restricted stock awards 1,445,024 33,542 Convertible Series B preferred shares 4,199 13,000 Convertible notes — 1,813,500 Total 5,015,480 5,701,299

Cryptocurrencies (Tables)

Cryptocurrencies (Tables)	3 Months Ended
	Mar. 31, 2020
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Summary of Additional Information About Cryptocurrencies	The following table presents additional information about cryptocurrencies (in thousands): Beginning balance, January 1, 2020 $ 3,839 Revenue recognized from cryptocurrencies mined 2,362 Mining pool operating fees (36 ) Realized gain on exchange of cryptocurrencies 106 Impairment of cryptocurrencies (989 ) Ending balance, March 31, 2020 $ 5,282

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 (Unaudited) Miners $ 6,458 $ 5,010 Leasehold improvements 38 38 Office and computer equipment 103 103 Total cost of property and equipment 6,599 5,151 Less accumulated depreciation (733 ) (100 ) Property and equipment, net $ 5,866 $ 5,051

Stock Options, Warrants and R_2

Stock Options, Warrants and Restricted Common Stock (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation	The Company recognized total stock-based compensation expense during the three months ended March 31, 2020 and 2019, granted under the Equity Plan, from the following categories (in thousands): Three Months Ended March 31, 2020 2019 Restricted stock awards under the Plan $ 1,914 $ 177 Stock option awards under the Plan — 58 Total stock-based compensation $ 1,914 $ 235
Summary of Restricted Plan Activity	A summary of the Company’s unvested restricted common stock awards activity in the three months ended March 31, 2020 is presented here: Number of Shares Weighted Average Grant-Date Unvested at January 1, 2020 1,524,499 $ 1.37 Vested (1,623,834 ) $ 1.35 Granted 1,544,359 $ 1.27 Unvested at March 31, 2020 1,445,024 $ 1.29
Schedule of Changes in Outstanding Warrants	Following is a summary of outstanding warrants that were issued outside of the Equity Plan for the three months ended March 31, 2020: Shares Underlying Options/Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Aggregate Intrinsic Value Outstanding at January 1, 2020 3,574,257 $ 19.48 2.9 $ — Forfeited (20,000 ) $ 3.50 — Outstanding at March 31, 2020 3,554,257 $ 19.57 2.7 $ — Exercisable at March 31, 2020 3,554,257 $ 19.57 2.7 $ —

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating Leases	The following summarizes quantitative information about the Company’s operating leases (dollars in thousands): Lease cost Three Months Ended March 31, 2020 Operating lease cost $ 657 Variable lease cost 653 Operating lease expense 1,310 Short-term lease rent expense 5 Total rent expense $ 1,315 Other information Operating cash flows from operating leases $ 584 Right of use assets exchanged for new operating lease liabilities $ 558 Weighted-average remaining lease term – operating leases 0.4 years Weighted-average discount rate – operating leases 10.00 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of the Company’s operating lease liabilities, are as follows (unaudited) (in thousands): For the nine months ended December 31, 2020 $ 329 For the year ended December 31, 2021 35 Total $ 364 Less present value discount (9 ) Operating lease liabilities $ 356

Organization (Details)

Organization (Details) $ in Millions	Mar. 31, 2020	Dec. 31, 2019USD ($)
Miners received at Company's Oklahoma City facility [Member]
Business Acquisition [Line Items]
Number of computers acquired	1,000
Value of computers acquired		$ 1.4
Kairos Global Technology, Inc [Member]
Business Acquisition [Line Items]
Number of computers acquired	8,000
BitmainTech PTE. LTD [Member]
Business Acquisition [Line Items]
Number of computers acquired		4,000
Value of computers acquired		$ 6.3
BitmainTech PTE. LTD [Member] | Miners received at Company's Oklahoma City facility [Member]
Business Acquisition [Line Items]
Number of computers acquired		3,000
BitmainTech PTE. LTD [Member] | Received in early 2020 [Member]
Business Acquisition [Line Items]
Number of computers acquired		1,000

Liquidity and Financial Condi_2

Liquidity and Financial Condition (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	May 07, 2020	May 24, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents			$ 13,956	$ 1,016	$ 7,440	$ 225
Cryptocurrencies			5,300
Working capital			17,000
Stockholders' equity			33,231	(8,769)	26,235	$ 4,491
Accumulated deficit			221,515		$ 217,238
Proceeds from the sale of stock			9,495
H.C. Wainwright [Member] | Subsequent Event [Member]
Proceeds from the sale of stock	$ 4,300
Stock issued during period	3,507,072
Common Stock [Member] | H.C. Wainwright [Member]
Maximum amount of sales shares		$ 100,000
Proceeds from the sale of stock			9,500
Percentage of commission		3.00%
Commsion paid			$ 300
Weighted average price			$ 1.58
Stock issued during period			6,024,059

Basis of presentation, summar_4

Basis of presentation, summary of significant accounting policies (Schedule of Antidilutive Securities) (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	5,015,480	5,701,299
Warrants to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	3,554,257	3,579,257
Option to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	12,000	62,000
Escrow shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS		200,000
Unvested restricted stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	1,445,024	33,542
Convertible Series B Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	4,199	13,000
Convertible notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS		1,813,500

Acquisitions - Prive share es_2

Acquisitions - Prive share escrow status (Narrative) (Details)	1 Months Ended
	Feb. 28, 2020shares
Prive Technologies, Inc. [Member]
Business Acquisition [Line Items]
Number of Stock held in escrow	200,000

Cryptocurrencies (Summary of Ad

Cryptocurrencies (Summary of Additional Information About Cryptocurrencies) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Beginning balance, January 1,2020	$ 3,839
Revenue recognized from cryptocurrencies mined	2,362
Mining pool operating fees	(36)
Realized gain on exchange of cryptocurrencies	106
Impairment of cryptocurrencies	(989)
Ending balance, March 31, 2020	$ 5,282

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - Miners received at Company's Oklahoma City facility [Member] $ in Millions	Mar. 31, 2020	Dec. 31, 2019USD ($)
Property, Plant and Equipment [Line Items]
Number of computers acquired	1,000
Value of computers acquired		$ 1.4
Miners [Member]
Property, Plant and Equipment [Line Items]
Value of computers acquired		$ 4.9

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	$ 6,599	$ 5,151
Less accumulated depreciation	(733)	(100)
Property and equipment, net	5,866	5,051
Depreciation expense	700
Miners [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	6,458	5,010
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	38	38
Office and computer equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	103	$ 103
Patents [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 30

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Tess Inc [Member]
Business Acquisition [Line Items]
Amount of Investment	$ 100	$ 100
Coinsquare [Member]
Business Acquisition [Line Items]
Amount of Investment	9,400	$ 9,400
Verady, LLC [Member]
Business Acquisition [Line Items]
Amount of Investment	$ 200

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	Feb. 28, 2020	May 24, 2019	Mar. 31, 2020	Mar. 31, 2019
Class of Stock [Line Items]
Proceeds from the sale of stock			$ 9,495
Restricted Stock [Member]
Class of Stock [Line Items]
Vested restricted stock units			1,623,834
Restricted Stock [Member] | 2017 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Vested restricted stock units			5,000
Prive Technologies, Inc. [Member]
Class of Stock [Line Items]
Number of Stock held in escrow	200,000
Common Stock [Member]
Class of Stock [Line Items]
Shares of restricted common stock issued			122,377
Common Stock [Member] | Employees [Member]
Class of Stock [Line Items]
Value of previously accrued compensation to executive, settled through issuance of common stock			$ 175,000
Common Stock [Member] | H.C. Wainwright [Member]
Class of Stock [Line Items]
Maximum amount of sales shares		$ 100,000
Proceeds from the sale of stock			$ 9,500
Percentage of commission		3.00%
Weighted average price			$ 1.58
Issuance of common stock			6,024,059
Commsion paid			$ 300

Stock Options, Warrants and R_3

Stock Options, Warrants and Restricted Common Stock (Narrative) (Details) $ / shares in Units, $ in Millions	Feb. 07, 2020USD ($)Installmentsshares	Feb. 27, 2020shares	Mar. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $			$ 1.7
Unrecognized compensation cost, period for recognition			10 months
Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding			12,000
Weighted average exercise price | $ / shares			$ 4.09
Weighted average remaining contractual term			3 years 6 months
Chief Executive Officer and Interim Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted common stock issued	209,790
Directors and Certain Emoployees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Shares of restricted common stock issued		1,212,192
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested restricted stock units			1,623,834
Fair value of restricted stock granted | $			$ 2
Options outstanding			1,445,024	1,524,499
Restricted Stock [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted common stock issued	5,000
Restricted Stock [Member] | Chief Executive Officer and Interim Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Installments | Installments	4
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted common stock issued			122,377
Common stock issued | $	$ 12,237.7

Stock Options, Warrants and R_4

Stock Options, Warrants and Restricted Common Stock (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 1,914	$ 235
Restricted stock awards under Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,914	177
Stock option awards under Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation		$ 58

Stock Options, Warrants and R_5

Stock Options, Warrants and Restricted Common Stock (Schedule of Restricted Stock Activity) (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Number of Shares
Unvested at January 1, 2020 | shares	1,524,499
Vested | shares	(1,623,834)
Granted | shares	1,544,359
Unvested at March 31, 2020 | shares	1,445,024
Weighted Average Grant-Date Fair value
Unvested at January 1, 2020 | $ / shares	$ 1.37
Vested | $ / shares	1.35
Granted | $ / shares	1.27
Unvested at March 31, 2020 | $ / shares	$ 1.29

Stock Options, Warrants and R_6

Stock Options, Warrants and Restricted Common Stock (Schedule of Award Activity) (Details) - Other common stock purchase options [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Shares Underlying Options/Warrants
Outstanding, beginning	3,574,257
Forfeited	(20,000)
Outstanding, ending	3,554,257	3,574,257
Exercisable	3,554,257
Weighted Average Exercise Price
Outstanding, beginning	$ 19.48
Forfeited	3.50
Outstanding, ending	19.57	$ 19.48
Exercisable	$ 19.57
Weighted Average Remaining Contractual Term (Years)
Outstanding	2 years 8 months 12 days	2 years 10 months 25 days
Exercisable	2 years 8 months 12 days
Aggregate Intrinsic Value
Outstanding
Exercisable

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details)	Apr. 09, 2018USD ($)ft²	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Operating Leased Assets [Line Items]
Operating lease liabilities		$ 336,000		$ 368,000
Right of use assets		400,000
Kairos Global Technology, Inc [Member]
Operating Leased Assets [Line Items]
Rent expense		$ 1,300,000	$ 1,400,000
Office Space - Fort Lauderdale, Florida [Member]
Operating Leased Assets [Line Items]
Area of lease | ft²	1,700
Lease expire date	Aug. 9, 2021
Lease term	39 months
Lease renewal term	5 years
Base rent per month	$ 4,659
Base rent per month per square foot	$ 2.75
Escalate rate	3.00%

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Operating Leases) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Lease cost
Operating lease cost	$ 657
Variable lease cost	653
Operating lease expense	1,310
Short-term lease rent expense	5
Total rent expense	1,315
Other information
Operating cash flows from operating leases	584
Right of use assets exchanged for new operating lease liabilities	$ 558
Weighted-average remaining lease term - operating leases	4 months 24 days
Weighted-average discount rate - operating leases	10.00%

Commitments and Contingencies_4

Commitments and Contingencies (Schedule of Maturities of Operating Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
For the nine months ended December 31, 2020	$ 329
For the year ended December 31, 2021	35
Total	364
Less present value discount	(9)
Operating lease liabilities	$ 356

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Apr. 08, 2020	May 07, 2020USD ($)shares	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Apr. 30, 2020USD ($)
Subsequent Event [Line Items]
Proceeds from the sale of stock			$ 9,495
Subsequent Event [Member] | H.C. Wainwright [Member]
Subsequent Event [Line Items]
Proceeds from the sale of stock		$ 4,300
Stock issued during period | shares		3,507,072
Subsequent Event [Member] | Coinmint, LLC [Member]
Subsequent Event [Line Items]
Initial term of agreement	6 months
Automatic renewal term of agreement	3 months
Subsequent Event [Member] | BitmainTech PTE. LTD [Member]
Subsequent Event [Line Items]
Number of computers acquired					2,040
Value of computers acquired					$ 4,400