Riot Blockchain (RIOT) 10-K 31 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 30, 2021	Jun. 30, 2020
Document and Entity Information [Abstract]
Entity Central Index Key	0001167419
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2020
Entity File Number	001-33675
Entity Registrant Name	RIOT BLOCKCHAIN, INC.
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	84-1553387
Entity Address, Address Line One	202 6th Street
Entity Address, Address Line Two	Suite 401
Entity Address, City or Town	Castle Rock
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80104
City Area Code	303
Local Phone Number	794-2000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Auditor Attestation Flag	true
Title of 12(b) Security	Common Stock no par value per share
Trading Symbol	RIOT
Name of Exchange on which Security is Registered	NASDAQ
Entity Common Stock, Shares Outstanding		84,120,723
Entity Public Float			$ 77.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 223,382	$ 7,440
Prepaid expenses and other current assets	1,257	1,349
Cryptocurrencies	11,626	3,839
Total current assets	236,265	12,628
Property and equipment, net	10,143	5,051
Right of use assets		367
Deposits on equipment	33,093	1,449
Long-term investments	310	9,723
Security deposits		703
Patents, net	336	459
Total assets	280,147	30,380
Current liabilities
Accounts payable	718	717
Accrued expenses	1,582	2,187
Operating lease liability, current portion		368
Deferred revenue, current portion	97	97
Total current liabilities	2,397	3,369
Deferred revenue, less current portion	679	776
Total liabilities	3,076	4,145
Stockholders' equity
Common stock, no par value; 170,000,000 shares authorized; 78,523,517 and 25,082,872 shares issued and outstanding as of December 31, 2020 and 2019, respectively	506,961	243,458
Accumulated deficit	(229,912)	(217,238)
Total Riot Blockchain stockholders' equity	277,071	26,242
Non-controlling interest		(7)
Total stockholders' equity	277,071	26,235
Total liabilities and stockholders' equity	280,147	30,380
2% Convertible Preferred Stock Series A [Member]
Stockholders' equity
Preferred stock
0% Convertible Preferred Stock Series B [Member]
Stockholders' equity
Preferred stock	$ 22	$ 22

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 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	78,523,517	25,082,872
Common stock, shares outstanding	78,523,517	25,082,872
2% Convertible Preferred Stock Series A [Member]
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
0% Convertible Preferred Stock Series B [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

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue:
Total Revenue	$ 12,081	$ 6,837
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization shown below)	6,251	6,097
Selling, general and administrative	10,251	9,159
Depreciation and amortization	4,494	119
Impairment of intangible rights acquired		700
Impairment of long-term investment	9,413
Impairment of cryptocurrencies	989	844
Total costs and expenses	31,398	16,919
Operating loss	(19,317)	(10,082)
Other income (expense):
Loss on issuance of convertible notes, common stock and warrants		(6,155)
Change in fair value of warrant liability		(2,869)
Change in fair value of convertible notes		(3,896)
Reversal of registration rights penalty	1,358
Gain on deconsolidation of Tess		1,139
Gain on sale of equipment	29
Interest income	85
Interest expense		(122)
Other income (expense)	(6)	874
Realized gain on sale/exchange of cryptocurrencies	5,184	665
Total other income (expense)	6,650	(10,364)
Deferred income tax benefit		143
Net loss	(12,667)	(20,303)
Net (income) loss attributable to non-controlling interest	(7)	264
Net loss attributable to Riot Blockchain	$ (12,674)	$ (20,039)
Basic and diluted net loss per share:	$ (0.30)	$ (1.02)
Basic and diluted weighted average number of shares outstanding	41,976,704	19,597,977
Revenue - cryptocurrency mining [Member]
Revenue:
Total Revenue	$ 11,984	$ 6,741
License fees [Member]
Revenue:
Total Revenue	$ 97	$ 96

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - 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, net of offering costs/At-the-market offering		$ 23,829		23,829		23,829
Issuance of common stock, net of offering costs/At-the-market offering, shares		8,351,762
Delivery of common stock underlying restricted stock units, shares		239,751
Common stock issued with convertible notes		$ 255		255		255
Common stock issued with convertible notes, shares		150,000
Common stock issued in connection with conversion of notes payable		$ 10,226		10,226		10,226
Common stock issued in connection with conversion of notes payable, shares		1,813,500
Reclassification of warrant liability to equity		$ 5,439		5,439		5,439
Preferred stock converted to Common stock	$ (47)	$ 47
Preferred stock converted to Common stock, shares	(8,801)	8,801
Stock-based compensation		$ 745		745		745
Net income (loss) attributable to non-controlling interest					(264)	(264)
Deconsolidation of Tess					1,553	1,553
Net loss			(20,039)	(20,039)		(20,039)
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 to settle executive compensation, shares		5,000
Delivery of common stock underlying restricted stock units, net of tax withholding settlement		$ (446)		(446)		(446)
Delivery of common stock underlying restricted stock units, net of tax withholding settlement, shares		2,048,096
Delivery of common stock underlying restricted stock units for consulting and advisory services, shares		40,634
Issuance of common stock, net of offering costs/At-the-market offering		$ 257,472		257,472		257,472
Issuance of common stock, net of offering costs/At-the-market offering, shares		49,932,051
Issuance of common stock related to exercise of warrants		$ 2,895		2,895		2,895
Issuance of common stock related to exercise of warrants, shares		1,492,487
Cancellation of Prive Escrow shares, shares		(200,000)
Stock-based compensation		$ 3,407		3,407		3,407
Net income (loss) attributable to non-controlling interest					7	7
Net loss			(12,674)	(12,674)		(12,674)
BALANCE at Dec. 31, 2020	$ 22	$ 506,961	$ (229,912)	$ 277,071		$ 277,071
BALANCE, shares at Dec. 31, 2020	4,199	78,523,517

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (12,667)	$ (20,303)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	3,407	745
Depreciation and amortization	4,494	119
Deferred income tax benefit		(143)
Amortization of license fee revenue	(97)	(96)
Amortization of right of use assets	367	2,297
Impairment of long-term investment	9,413
Impairment of cryptocurrencies	989	844
Loss on issuance of convertible notes, common stock and warrants		6,155
Change in fair value of convertible notes		3,896
Change in fair value of warrant liability		2,869
Gain on deconsolidation of Tess		(1,139)
Impairment of intangible rights acquired		700
Reversal of registration rights penalty	(1,358)
Gain on extinguishment of accounts payable, other liabilities and accrued interest		(854)
Realized gain on sale/exchange of cryptocurrencies	(5,184)	(665)
Gain on sale of equipment	(29)
Accrued interest on Verady investment		(20)
Changes in assets and liabilities:
Prepaid expenses and other current assets	795	(101)
Cryptocurrencies - mining, net of mining pool operating fees	(11,838)	(6,606)
Accounts payable and accrued expenses	929	(817)
Lease liability	(368)	(2,296)
Net cash used in operating activities	(11,147)	(15,415)
Cash flows from investing activities
Proceeds from sale of cryptocurrencies	8,298	3,196
Proceeds from sale of equipment	146
Deposits on equipment	(33,093)	(1,449)
Purchases of property and equipment	(8,139)	(4,958)
Patent costs incurred	(44)	(38)
Net cash used in investing activities	(32,832)	(3,249)
Cash flows from financing activities
Proceeds from issuance of convertible notes		3,000
Repayment of notes payable and other obligations		(950)
Proceeds from the issuance of common stock / At-the-market offering	264,727	24,825
Offering costs for the issuance of common stock / At-the-market offering	(7,255)	(996)
Proceeds from exercise of common stock warrants	2,895
Repurchase of common shares to pay employee withholding taxes	(446)
Net cash provided by financing activities	259,921	25,879
Net increase in cash and cash equivalents	215,942	7,215
Cash and cash equivalents at beginning of year	7,440	225
Cash and cash equivalents at end of year	223,382	7,440
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for taxes
Supplemental disclosure of noncash investing and financing activities:
Issuance of common stock to settle previously accrued executive compensation	175
Cryptocurrencies received from sale of equipment	52
Reclassification of deposits for miners	1,449
Conversion of notes payable to common stock		10,226
Reclassification of warrant liability to equity		5,439
Conversion of preferred stock to common stock		47
Common stock issued in connection with conversion of notes payable		255
Cryptocurrencies used to purchase miners		$ 99

Organization

Organization	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1. Organization Nature of operations and corporate information: Riot Blockchain, Inc., operates a cryptocurrency mining operation, which utilizes specialized computers (also known as “miners”) using application-specific integrated circuit (ASIC) chips to solve complex cryptographic algorithms in order to support the Bitcoin blockchain (in a process known as “solving a block”), in exchange for cryptocurrency rewards. As of December 30, 2020, the Company exclusively operated the Antminer series of miners manufactured by Bitmain Technologies Limited (“Bitmain”), which use ASIC chips designed around the 256-bit secure hashing algorithm (“SHA-256”) used by the Bitcoin blockchain and, therefore the primary cryptocurrency the Company seeks to mine is bitcoin. The Company has also historically mined bitcoin cash and litecoin; however, the Company focused its efforts on mining bitcoin. The Company generates substantially all its revenue through its cryptocurrency mining operation by holding the cryptocurrency it mines and selling it on the market for its own account. The Company 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. Mining equipment: The Company’s current focus is on its cryptocurrency mining operation, and during the year ended December 31, 2020, it continued a full network upgrade of its miners with the objective of increasing the Company’s operational efficiency and performance, which it had begun in December 2019 with the acquisition of 4,000 model S17-Pro Antminer series of miners manufactured by Bitmain for a total purchase price of $6.3 million. As of December 31, 2020, the Company operated a fleet of 7,043 of the Antminer series of miners manufactured by Bitmain, including 4,000 model S17-Pro miners, 1,040 model S19 miners, and 2,003 model S19-Pro miners, all of which were purchased directly from Bitmain and deployed in the Company’s mining operation pursuant to a co-location mining services agreement with Coinmint, LLC (“Coinmint”) at Coinmint’s facility in New York (the “Coinmint Facility”). During the year ended December 31, 2020, the Company entered into purchase agreements with Bitmain for the acquisition of a total of 33,646 of their model S19, S19-Pro, and S19j-Pro Antminer series of miners, to be shipped and delivered during 2020 and 2021. During the year ended December 31, 2020, the Company received 3,043 model S19 Antminers of these 33,646 new miners, all of which have been deployed at the Coinmint Facility. The remaining 30,603 of these new miners are scheduled for monthly deliveries in 2021. The purchase commitment for these new miners totals $76.1 million, including $6.6 million paid for the 3,043 miners delivered during the year ended December 31, 2020, $31.9 million paid as deposits in deposits during the same period, and the remaining $37.6 million due to be paid during the year ending December 31, 2021 according to the payment schedules set forth in the applicable purchase agreements. During the year ended December 31, 2020, the Company retired all of the approximately 8,000 Bitmain Antminer S9 miners it had historically acquired through its acquisition of Kairos Global Technology, Inc., (“Kairos”) in November 2017, and from Prive Technologies, LLP (“Prive”) and Blockchain Mining Supply & Services Ltd. (“BMSS”) in February 2018. The Company discontinued its use of these older model miners in favor of the 4,000 S17 miners, the 1,040 S19 miners, and 2,000 S19-Pro miners it acquired from Bitmain, which offer greater electricity usage efficiency and hash rate power than the retired models.

Liquidity and Financial Conditi

Liquidity and Financial Condition	12 Months Ended
	Dec. 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 December 31, 2020, the Company had approximate balances of cash and cash equivalents of $223.4 million, working capital of $233.9 million, total stockholders’ equity of $277.1 million and an accumulated deficit of $229.9 million. To date, the Company has, in large part, relied on equity financings to fund its operations. 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. During the year ended December 31, 2020, the Company entered into purchase agreements with Bitmain for the acquisition of a total of 33,646 of their model S19, S19-Pro, and S19j-Pro Antminer series of miners, to be shipped and delivered during 2020 and 2021. The purchase commitment for these new miners totals $76.1 million, including $6.6 million paid for the 3,043 miners delivered during the year ended December 31, 2020, $31.9 million paid as deposits in deposits during the same period, and the remaining $37.6 million due to be paid during the year ending December 31, 2021 according to the payment schedules set forth in the applicable purchase agreements. See Note 7. During the year ended December 31, 2020, the Company received net proceeds of approximately $257,500 million (after deducting $7,300 million in commissions and expenses) from sales of 49,932,051 shares of its common stock, no par value, at a weighted average gross sales price of $5.30 per share pursuant to an At-The-Market Sales Agreement, dated effective as of May 24, 2019, as amended (the “2019 ATM Sales Agreement”), with its sales agent, H.C. Wainwright & Co., LLC (“Wainwright”). Subsequent to December 31, 2020, the Company received net proceeds of approximately $82.7 million from the sale of 4,433,468 shares of common stock, no par value, at an average gross sales price of $19.13 per share, via its Sales Agent, Wainwright pursuant to the 2019 ATM Sales Agreement. COVID-19 The COVID-19 global pandemic has been unprecedented and unpredictable and is likely to continue to result in significant national and global economic disruption, which may adversely affect our business. Based on the Company’s current assessment, however, the Company does not expect any material impact on its long-term strategic plans, its operations, or its liquidity due to the worldwide spread of the COVID-19 virus. However, the Company is actively monitoring this situation and the possible effects on its financial condition, liquidity, operations, suppliers, and industry.

Basis of Presentation, Summary

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	12 Months Ended
	Dec. 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 Principles of consolidation The accompanying consolidated financial statements of the Company include the accounts of the Company and its wholly or majority owned and controlled subsidiaries. Consolidated subsidiaries results are included from the date the subsidiary was formed or acquired. Intercompany investments, balances and transactions have been eliminated in consolidation. Non–controlling interests represents the minority equity investment in the Company’s subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interest. The Company’s consolidated operating subsidiaries and (percentage owned at December 31, 2020) consisted of; Riot Blockchain Canada, Inc., (100%), RiotX Holdings, Inc (92.5%) and Logical Brokerage Corp. (92.5%). None of the consolidated subsidiaries had any significant assets or operations. Amounts are in thousands except for share, per share and miner amounts. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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 financial statements include estimates associated with revenue recognition, asset valuations, the useful lives and recoverability of long-lived assets, impairment analysis of indefinite lived intangibles, stock-based compensation, and the valuation allowance associated with the Company’s deferred tax assets. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no impact on the previously reported financial position or results of operations. Long-term investments Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2016-01 and related ASU 2018-03 concerning recognition and measurement of financial assets and financial liabilities. In adopting this new guidance, the Company has made an accounting policy election to adopt an adjusted cost method measurement alternative for investments in equity securities without readily determinable fair values. For equity investments that are accounted for using the measurement alternative, the Company initially records equity investments at cost but is required to adjust the carrying value of such equity investments through earnings when there is an observable transaction involving the same or a similar investment with the same issuer or upon an impairment. Cash, cash equivalents and short-term investments The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. From time to time, the Company’s cash account balances exceed the balances as covered by the Federal Deposit Insurance System. The Company has never suffered a loss due to such excess balances. As of December 31, 2020 and 2019, the Company had no cash equivalents or short-term investments. Fair value of financial instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) ASC 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 — observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 — assets and liabilities whose significant value drivers are unobservable. F-10 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment. As of December 31, 2020, there were no financial assets or liabilities measured at fair value. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, and accounts payable, approximate fair value due to the short-term nature of these instruments. During the year ended December 31, 2019, the Company issued convertible notes and warrants in connection with the notes. The notes and warrants were classified as liabilities and measured at fair value on the issuance date, with changes in fair value recognized as other expense on the consolidated statements of operations and disclosed in the consolidated financial statements. Cryptocurrencies Cryptocurrencies, (including bitcoin and bitcoin cash) are included in current assets in the accompanying consolidated balance sheets. Cryptocurrencies purchased are recorded at cost and cryptocurrencies awarded to the Company through its mining activities are accounted for in connection with the Company’s revenue recognition policy disclosed below. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Purchases of cryptocurrencies by the Company are included within investing activities in the accompanying consolidated statements of cash flows, while cryptocurrencies awarded to the Company through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the consolidated statements of operations. The Company accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting. Deferred revenue The Company recognized upfront license fees from Ceva Santé Animale S.A. (“Licensee”) related to its exclusive license agreement (“License Agreement”), which have been recorded as deferred revenue and are being amortized over the term of the License Agreement. Amortization of the license fees totaling approximately $1.6 million began in July 2012. As of December 31, 2020, and 2019, each, deferred revenue of approximately $0.1 million has been classified as a current liability and $0.7 million and $0.8 million, respectively, has been classified as a long-term liability. The current liability represents the next twelve months’ portion of the license fees revenue. For each of the years ended December 31, 2020 and 2019, approximately $0.1 million, was recorded as the license fee revenue. Property and equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets, generally two years for cryptocurrency mining equipment and three years for computer related assets. Estimated useful lives for leasehold improvements are typically the lesser of the estimated useful life of the asset or the life of the term of the lease. F-11 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Patents and other intangible assets The Company accounts for intangible assets under ASC 350-30. Patents costs consisting of filing and legal fees incurred are initially recorded at cost. Patents are amortized over the legal life of the patent or their estimated useful lives, using the straight-line method. Certain patents are in the legal application process and therefore are not currently being amortized. Impairment of long-lived assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the year ended December 31, 2020, the Company determined there were indicators that would cause a 100% impairment of its Coinsquare investment and observed price changes. Therefore, the Company recorded an impairment expense of $9.4 million for its investment in Coinsquare during the year ended December 31, 2020. The Company made the decision, effective as of December 31, 2019 not to pursue its RiotX / Logical Brokerage cryptocurrency exchange development plan, and as of December 31, 2019 recorded an impairment of intangible assets acquired of approximately $0.7 million. Deferred tax liability Due to certain acquisitions, temporary differences between the book fair value and the tax basis of the indefinite life intangible assets and depreciable property and equipment were recorded. The Company recognized a $0.1 million deferred tax liability related to its Logical Brokerage acquisition during the year ended December 31, 2018. Subsequently, due to the Company’s decision not to pursue its Logical Brokerage business and the impairment and depreciation of the Kairos property and equipment, the Company recorded a $0.1 million income tax benefit during the year ended December 31, 2019 from the reduction of its existing deferred tax liability related to its acquisitions. The following is a rollforward of the Company’s deferred tax liability from January 1, 2019 to December 31, 2019: Beginning Balance, January 1, 2019 $ 143 Abandonment of Logical Brokerage (143 ) Ending Balance, December 31, 2019 $ — There was no deferred tax liability as of December 31, 2020. Sequencing On January 28, 2019, the Company adopted a sequencing policy under Accounting Standards Codification (“ASC”) 815-40-35 Derivatives and Hedging Notes payable fair value option As described further in Note 10 - Notes and Other Obligations, As of December 31, 2019, all of the Notes were converted into 1,813,500 shares of the Company’s common stock valued at their estimated fair value at the time of conversion totaling approximately $10.2 million. F-12 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Warrant liability The Company issued Warrants to purchase 1,908,144 shares of its common stock in connection with the Notes issued to the Investors in January 2019, and recorded these outstanding Warrants as a liability at fair value utilizing a Monte Carlo simulation model. This liability is subject to re-measurement at each balance sheet date, and any change in fair value is recognized in the Company’s consolidated statements of operations. As of June 25, 2019, the Company’s Notes had been converted in their entirety and the warrant liability was revalued and reclassified to equity, because the Warrants are no longer subject to the Company’s sequencing policy as described above. Leases Effective January 1, 2019, the Company accounts for its leases under ASC 842, Leases In calculating the right of use asset and lease liability, the Company elects to combine lease and non-lease components as permitted under ASC 842. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. Revenue recognition Cryptocurrency mining: The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers. The core principle of the new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: • Step 1: Identify the contract with the customer • Step 2: Identify the performance obligations in the contract • Step 3: Determine the transaction price • Step 4: Allocate the transaction price to the performance obligations in the contract • Step 5: Recognize revenue when the Company satisfies a performance obligation In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following: • Variable consideration • Constraining estimates of variable consideration • The existence of a significant financing component in the contract • Noncash consideration • Consideration payable to a customer Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate. F-13 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The Company has entered into digital asset mining pools by executing contracts, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the blockchain. The terms of the agreement provides that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power in digital asset transaction verification services is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Cost of revenue The Company’s cost of revenue consists primarily of direct costs of earning bitcoin related to mining operations, including mining pool fees, electric power costs, other utilities, labor, insurance whether incurred directly from self-mining operations or reimbursed, including any revenue sharing arrangements under co-location agreements, but excluding depreciation and amortization, which are separately stated in the Company’s consolidated statements of operations. Income taxes The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable. ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position. F-14 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Stock-based compensation The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. These options generally vest on the grant date or over a one- year period. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Expected Term Expected Volatility Risk-Free Interest Rate Expected Dividend Effective January 1, 2017, the Company elected to account for forfeited awards as they occur, as permitted by Accounting Standards Update (“ASU”) 2016-09. Ultimately, the actual expenses recognized over the vesting period will be for those shares that vested. Prior to making this election, the Company estimated a forfeiture rate for awards at 0%, as the Company did not have a significant history of forfeitures. Earnings (loss) per share Basic net earnings (loss) per share (“EPS”) of common stock is computed by dividing the Company’s net earnings (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 only incurred losses, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at December 31, 2020 and 2019 because their inclusion would be anti-dilutive are as follows: December 31, 2020 2019 Warrants to purchase common stock 2,061,770 3,574,257 Options to purchase common stock 12,000 12,000 Unvested restricted stock awards 633,305 1,524,499 Convertible Series B preferred shares 4,199 4,199 Total 2,711,274 5,114,955 F-15 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Segment reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group in deciding how to allocate resources and in assessing performance. Our chief operating decision–making group is composed of the chief executive officer. We currently operate in one segment surrounding our cryptocurrency mining operation. 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 consolidated financial statements properly reflect the change. In December 2019, the FASB issued ASU No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12” In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Note 4. Acquisitions Asset Purchase Agreement with Prive Technologies LLC On February 21, 2018, the Company and Kairos, completed an asset purchase under an agreement (the “Prive Purchase Agreement”) with Prive. Upon closing of the transaction, Kairos became the owner of Prive equipment used for the mining of cryptocurrency, including, but not limited to, 3,800 Bitmain Antminer S9s. The equipment was recorded for a purchase price of approximately $19.5 million as follows: Cash consideration $ 11,000 Fair value of common stock 8,480 Other expenses 2 Total $ 19,482 As part of the Prive Purchase Agreement, 200,000 shares of the Company’s common stock were held in escrow (the “Escrow Shares”). No value was assigned to the Escrow Shares at the time of the acquisition as they were contingent consideration. The Escrow Shares would have been released to the Sellers upon the Company generating net cash flow of at least $10.0 million from the equipment. If the Escrow Shares were not released to the Sellers on or before the two-year anniversary (February 2020) of the Prive Purchase Agreement, the Escrow Shares would be returned to the Company for cancellation. In February 2020, the conditions were not achieved and after receiving notification on March 4, 2020, the escrow agent returned and canceled the 200,000 shares. F-16 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Acquisition of Logical Brokerage Corp. On March 26, 2018, the Company entered into an asset acquisition with Logical Brokerage Corp. The Company purchased 9.25 shares of Logical Brokerage, representing 92.5% of the outstanding capital stock of Logical Brokerage, for a cash purchase price of $0.6 million. Logical Brokerage, a futures introducing broker headquartered in Miami, Florida is registered with the CFTC and is a member of the NFA. The asset was recorded at the purchase price of $0.6 million, net of cash received with the asset acquisition of $0.1 million, plus any transaction costs. The CFTC license was recorded as intangible rights acquired. The Company made the decision, effective as of December 31, 2019 not to pursue its RiotX / Logical Brokerage business development plan. Under the guidance of ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, the Company determined that the discontinuation of RiotX / Logical Brokerage did not represent a strategic shift that would have a major effect on the Company’s operations and financial results. The Company accounted for the discontinuation as an impairment of an intangible asset acquired, and as of December 31, 2019, recorded an impairment expense of approximately $0.7 million and recorded an income tax benefit of approximately $0.1 million, which are reflected on the accompanying consolidated statements of operations.

Cryptocurrencies

Cryptocurrencies	12 Months Ended
	Dec. 31, 2020
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Cryptocurrencies	Note 5. Cryptocurrencies The following table presents additional information about cryptocurrencies: December 31, 2020 December 31, 2019 Beginning balance $ 3,839 $ 707 Revenue recognized from cryptocurrencies mined 11,984 6,741 Mining pool operating fees (146 ) (135 ) Proceeds from sale of cryptocurrencies (8,298 ) (3,196 ) Purchase of miner equipment with cryptocurrencies — (99 ) Realized gain on sale/exchange of cryptocurrencies 5,184 665 Impairment of cryptocurrencies (989 ) (844 ) Cryptocurrencies received from sale of equipment 52 — Ending balance $ 11,626 $ 3,839

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6. Fair Value Measurements On January 28, 2019 the Company issued the notes and warrants which were classified as liabilities and measured at fair value on the issuance date, with changes in fair value recognized as other expense on the consolidated statements of operations and disclosed in the consolidated financial statements. As of June 27, 2019, in accordance with their original terms, all of the Notes were converted into a total of 1,813,500 shares of the Company’s common stock by their holders. See Note 10. A summary of weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s Notes and Warrants at the issuance date of January 28, 2019 and during the conversion of the Notes as of June 27, 2019, are as follows: Senior Secured Promissory Notes January 28, 2019 As of June 27, 2019 Dividend yield 0% 0% Expected price volatility 119.5% 122.2%-127.1% Risk free interest rate 2.60% 2.07%-2.44% Expected term 1 year - F-17 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Warrants January 28, 2019 As of June 27, 2019 Dividend yield 0% 0% Expected price volatility 111.6% 119.9%-120.5% Risk free interest rate 2.58% 2.23%-2.58% Expected term 5 years 4 years, 10 months There were no assets or liabilities measured at fair value during the year ended December 31, 2020. Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. The following table presents changes in Level 3 liabilities measured at fair value for the year ended December 31, 2019: Convertible Notes Warrant Liability Issuance of senior secured convertible notes $ 6,330 $ — Issuance of warrants in connection with convertible notes — 2,570 Balance at January 28, 2019 6,330 2,570 Change in fair value 3,896 2,869 Conversion of convertible notes to common stock (10,226 ) — Reclassification of warrant liability to equity — (5,439 ) Balance at December 31, 2019 $ — $ —

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 7. Property and Equipment Property and equipment consisted of the following as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Miners $ 14,406 $ 5,010 Leasehold improvements - 38 Office and computer equipment 83 103 Total cost of property and equipment 14,489 5,151 Less accumulated depreciation (4,346 ) (100 ) Property and equipment, net $ 10,143 $ 5,051 There were no impairment charges related to miners for the years ended December 31, 2020 and 2019. During the year ended December 31, 2019, the Company purchased 4,000 Bitmain S17-Pro Antminers for approximately $6.3 million from Bitmain. In December 2019, 3,000 miners had been received at the Company’s Oklahoma City facility but not yet placed in service. The remaining 1,000 miners were received at its Oklahoma City facility during February 2020 and the related $1.4 million prepayment is recorded as a deposit on the accompanying December 31, 2019 consolidated balance sheet. During the year ended December 31, 2020, the 4,000 S17-Pro Antminers were relocated to the Coinmint facility. During the year ended December 31, 2020, the Company purchased 33,646 Bitmain S19-Pro Antminers and as of December 31, 2020 the Company had received 3,043 of the S19-Pro Antminers. F-18 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) As of December 31, 2020, the Company had outstanding executed purchase agreements primarily for the purchase of miners from Bitmain for a total of 30,603 new S19-Pro miners, to be delivered in 2021 through October 2021. A summary of the purchase agreement commitments, deposits paid and expected delivery timing (remaining balances are payable in advance of shipping) is summarized as follows: Agreement Date * Purchase Commitment Deposits Paid Expected Shipping August 12, 2020 $ 17,428 $ 13,071 First Quarter 2021 August 25, 2020 $ 11,110 $ 5,773 First - Second Quarter 2021 September 30, 2020 $ 6,094 $ 6,124 First Quarter 2021 December 18, 2020 (1 of 2) $ 26,308 $ 2,631 Third - Fourth Quarter 2021 December 18, 2020 (2 of 2) $ 8,577 $ 4,289 Second - Third Quarter 2021 Other contracts and costs $ 2,804 $ 1,205 Total $ 72,321 $ 33,093 * Pursuant to the Company’s agreements with Bitmain, the Company is responsible for all shipping charges incurred in connection with the delivery of the miners. In December 2020, the Company entered into a pilot project with a dual focus of evaluating next-generation immersion technology to increase mining productivity, in addition to evaluating software to reduce energy costs. The immersion modules provide significant potential benefits, and the software is designed to help miners reduce their cost of power by being opportunistic in the local energy market. When combined, both technologies have the potential to reduce the Company’s bitcoin production costs, increase hashrates and significantly extend the life of the Company’s bitcoin mining ASICs. As of December 31, 2020, the Company has made contract deposits totaling approximately $1.2 million related to the pilot project, which amounts are included in the above table. Depreciation and amortization expense totaled approximately $4.5 million (including $0.2 million of patent amortization) and $0.1 million, for the years ended December 31, 2020 and 2019, respectively. Depreciation is computed on the straight-line basis for the periods the assets are in service.

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Investments	Note 8. Investments Long-term investments consisted of the following as of December 31, 2020 and 2019: Coinsquare Tess Verady Total Balance at January 1, 2019 $ 9,413 $ — $ 200 $ 9,613 Investment in Tess — 90 — 90 Accrued interest on convertible note — — 20 20 Balance at December 31, 2019 9,413 90 220 9,723 Impairment of long-term investment (9,413 ) — — (9,413 ) Balance at December 31, 2020 $ — $ 90 $ 220 $ 310 Coinsquare In September 2017, and February 2018, the Company acquired a minority interest for $9.4 million in Coinsquare, which operates a digital crypto currency exchange platform in Canada. The investment resulted in a current ownership in Coinsquare by the Company of approximately 11.7% ownership in Coinsquare on a fully diluted basis. The Company has evaluated the guidance in ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, and elected to account for the investment using the measurement alternative as the equity securities are without a readily determinable fair value and do not give the Company significant influence over Coinsquare. The measurement alternative at cost, less any impairment, plus or minus changes resulting from observable price changes. During June 2020, the Company became aware of allegations brought by the Ontario Securities Commission (the “OSC”) that Coinsquare and certain of its executives and directors engaged in systematic “wash trading” of cryptocurrencies on its Coinsquare market to manipulate the market’s trading volume during 2018 and 2019. On July 21, 2020, a hearing panel of the OSC entered an order (the “Order”) approving the settlement agreement between OSC, Coinsquare, and certain of its executives and directors (the “Settlement Agreement”), in which they admitted to breaches of Ontario securities laws and/or conduct contrary to the public interest including, market manipulation through reporting inflated trading volumes on its Coinsquare Market, misleading its clients and investors about these trading volumes, and taking reprisal against an internal whistleblower who brought this conduct to the attention of the named executives and directors. The Order requires certain oversight and governance procedures and to prohibit the named executives and directors from engaging in certain activities with respect to Coinsquare; additionally, the named executives and directors were required to resign from Coinsquare and Coinsquare and the named executives and directors were required to pay penalties and costs totaling approximately CAD 2.2 million. F-19 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The Company thereupon determined there were indicators that would cause a 100% impairment of the Coinsquare investment and observed price changes, which was recorded as of June 30, 2020. The Company therefore recorded an impairment expense of $9.4 million for its investment in Coinsquare during the year ended December 31, 2020, as reflected in the accompanying consolidated statements of operations. Tess In 2017, the Company acquired approximately 52% of Tess which is developing blockchain solutions for telecommunications companies. Under the terms of the Purchase Agreement (the “Purchase Agreement”) the Company invested cash of approximately $0.3 million in Tess and issued 75,000 shares of restricted Common Stock to Tess in exchange for 2,708,333 shares of common stock of Tess. The 75,000 shares of Common Stock were valued at the $8.49 market price as of October 20, 2017 for a total of approximately $0.6 million. Accordingly, Tess became a majority-owned subsidiary of the Company. As part of the transaction, the Company and Tess entered into a registration rights agreement pursuant to which the Company agreed to file a registration statement to register the resale of 25,000 shares (of 75,000 shares) of Common Stock issued to Tess. The 2017 acquisition of Tess was accounted for as a business combination in accordance with the provisions of ASC 805. The allocation of purchase consideration includes $0.7 million as in-process research and development (IPR&D) related to the TessPay project. As of December 31, 2018, the Company had $0.6 million of intangibles related to Tess’s internal technology platform. In January 2018, following the execution of a non-binding letter of intent as of December 11, 2017, the parties executed a definitive agreement providing that Tess agreed to merge with Cresval Capital Corp. (“Cresval”) (TSX-V: CRV). Assuming closing conditions are met, upon closing of the anticipated merger, Tess would be publicly traded on the TSX Venture Exchange (the “TSXV”). During the year ended December 31, 2018, Tess received approximately $0.5 million from the sale of shares of Riot Blockchain common stock held by Tess, which has been recorded as a credit to the consolidated Common Stock of the Company. Additionally, Tess issued approximately 189,000 of its common shares in exchange for cash proceeds of approximately $220,000 thereby reducing the investment percentage held by the Company from 52.01% to 50.2% as of December 31, 2018. Due to the termination of the Cresval Agreement on February 15, 2019, the Company recorded an impairment loss of $2.1 million consisting of $0.7 million of in process research and development costs, $0.6 million related to capitalized costs of Tess’s internal technology platform and $0.8 million of goodwill during the year ended December 31, 2018. On April 10, 2019, Tess closed on a funding agreement under which approximately 23.8 million shares of Tess were issued for CAD $1.2 million. As a result of this and subsequent funding’s, the Company’s ownership in Tess was reduced to approximately 8.8%. Subsequently Tess was no longer being consolidated in the Company’s consolidated financial statements. As of December 31, 2019, the Company evaluated its remaining interest in Tess under the guidance of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, and determined it should remeasure its retained interest at fair value upon deconsolidation to establish a new cost basis. As of December 31, 2020 and 2019, the fair value of the Tess shares owned by the Company is approximately $0.1 million, calculated based upon the April 10, 2019 funding price as follows: April 10, 2019 Tess shares held by Riot Blockchain, Inc. 2,708,333 Per share fair value $ 0.03 Fair value of Tess shares held by Riot Blockchain, Inc. $ 90 The Company accounts for deconsolidation of subsidiaries in which it loses controlling interest in the financial interest of the subsidiary in accordance with Accounting Standards Codification (“ASC”) 810-10-40 – “Consolidation”. F-20 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The deconsolidation of Tess resulted in a gain of approximately $1.1 million calculated as follows on the date of deconsolidation: Current assets $ 130 Less: Accounts payable 761 Accrued expenses 275 Convertible notes 1,696 Net liabilities ( 2,602 ) Non-controlling interest share 1,553 Sub-total ( 1,048 ) Less: fair value of shares owned by Riot Blockchain 90 Gain on deconsolidation of Tess $ ( 1,139 ) Verady During November 2017, the Company made a $0.2 million investment in a convertible note as part of a series of notes issued by Verady, LLC (“Verady”). The notes are unsecured, subordinated to other approved liabilities, mature December 31, 2022, bear interest at 6%, unless previously repaid or converted and contain other conditions and restrictions, all as defined under the subscription documents. The Verady convertible note was previously recorded at fair value (which approximates cost). The conversion rate of the convertible note is defined based upon the possible occurrence of certain defined events which may or may not occur. The Company has no other relationship or rights associated with Verady. Founded in 2016, Verady is privately held and recently launched VeraNet, a decentralized network of financial reporting and accounting tools targeted to the needs of the cryptocurrency community. During the year ended December 31, 2019, Verady completed a financing that under the terms of the Company’s original investment, resulted in the automatic conversion of the Company’s convertible note plus accrued interest totaling approximately $0.2 million, into equity of Verady. The 2019 automatic conversion resulted in an ownership in Verady by the Company of approximately 3.2% on a fully diluted basis. The Company has evaluated the guidance in ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, and elected to account for the investment using the measurement alternative as the equity securities are without a readily determinable fair value and do not give the Company significant influence over Verady. The investment is valued at cost, less any impairment, plus or minus changes resulting from observable price changes. During the year ended December 31, 2020 and 2019, there were no price changes in orderly transactions for identical or similar investments in Verady.

Long-Term Assets

Long-Term Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Long-Term Assets	Note 9. Long-Term Assets Intangible rights acquired As of December 31, 2020 and 2019, intangible rights acquired totaled zero. The Company made the decision, effective as of December 31, 2019 not to pursue its RiotX / Logical Brokerage business development plan. See Note 4. Deposits on equipment During the year ended December 31, 2020, the Company purchased 33,646 model S19, S19-Pro, and S19j-Pro Antminers from Bitmain for a total purchase price of approximately new miners totals $76.1 million, including $6.6 million paid for the 3,043 miners delivered during the year ended December 31, 2020, $31.9 million paid as deposits in deposits during the same period, and the remaining $37.6 million due to be paid during the year ending December 31, 2021. As of December 31, 2020, the Company had received 3,043 of the new miners, including all 1,040 model S19 miners and 2,003 model S19-Pro miners, but had not yet received 30,603 of the new miners, including 18,603 model S19-Pro miners and all 12,000 model S19j-Pro miners. Accordingly, the Company recorded the $31.9 million paid during the year ended December 31, 2020 for these outstanding miners as a deposit, which includes these miners on the accompanying consolidated balance sheet. (See Note 7 for additional details.) During December 2019, the Company purchased 4,000 next generation Bitmain model S17-Pro Antminers from Bitmain for approximately $6.3 million. The Company had received 3,000 of these model S17-Pro miners by December 31, 2019, and, accordingly, they were recorded as assets on the Company’s consolidated balance sheet for the year ended December 31, 2019. However, 1,000 of these S17-Pro miners were not received until February 2020. Therefore, as of December 31, 2019, the Company recorded the $1.4 million paid in advance for these 1,000 model S17-Pro miners as a deposit on the accompanying consolidated balance sheet. F-21 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Patents The Company’s intangible assets with finite lives consist of its patents pertaining to its legacy animal health business, which have been out-licensed. For all periods presented, all of the Company’s identifiable intangible assets were subject to amortization. The carrying amounts related to acquired intangible assets as of December 31, 2020 and 2019 were as follows: December 31, 2020 December 31, 2019 Patents $ 713 $ 1,157 Accumulated amortization (377 ) (698 ) Patents, net $ 336 $ 459 During the year ended December 31, 2020, the Company wrote-off approximately $0.05 million of remaining net patent costs related to its now expired license agreement with Washington University in St. Louis. See Note 13. The following table represents the total estimated amortization of intangible assets for the five succeeding years and thereafter: For the year ended December 31, Estimated amortization expense 2021 86 2022 86 2023 86 2024 78 Total $ 336 The Company capitalizes legal costs and filing fees associated with obtaining patents on its new discoveries. Once the patents have been issued, the Company amortizes these costs over the shorter of the legal life of the patent or its estimated economic life using the straight-line method. Amortization expense totaled $167,000 and $86,000 for the years ended December 31, 2020 and 2019, respectively. The Company tests intangible assets with finite lives upon significant changes in the Company’s business environment. The testing resulted in no patent impairment charges during the years ended December 31, 2020 and 2019.

Notes, warrants and other oblig

Notes, warrants and other obligations	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Notes, Warrants and Other Obligations	Note 10. Notes, Warrants and Other Obligations Senior Secured Convertible Promissory Notes and Warrants On January 28, 2019, in connection with a private financing (the “2019 Private Financing”), the Company issued the Notes, to investors (collectively, the “Investors” and each an “Investor”) for an aggregate principal amount of approximately $3.4 million, along with Warrants for the purchase of and equal value of shares of the Company’s common stock, in exchange for $3.0 million of private financing. As additional consideration for the investment, the Company issued a total of 150,000 restricted common shares to the Investors. The Notes were subject to prepayment penalties, default conditions and other terms and conditions, as set forth in the Financing Agreements (the “Financing Agreements”), as disclosed in the Company’s current report on Form 8-K filed with the SEC on February 1, 2019. As additional consideration for the investment, the Company issued a total of 150,000 restricted common shares to the Investors. The Notes were convertible into shares of the common stock of the Company at a price equal to the lower of $2.00 or 80% of the lowest volume-weighted adjusted price of shares of the Company’s common stock in the twenty trading days prior to the conversion date, subject to adjustments in certain cases as defined in the Financing Agreements. Provided, however, that according to the Notes, the cumulative shares of the Company’s common stock issuable upon conversion of the Notes cannot exceed 19.99% of the total number of the Company’s outstanding common stock as of January 28, 2019. Pursuant to the Financing Agreements between the Company and the Investors, the Company granted the Investors a security interest in its assets to secure repayment of the Notes. Further to the Financing Agreements, the Company also reserved a number of shares of its common stock equal to 300% of the total number of shares issuable upon full conversion of the Notes. F-22 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Due to the complexity and number of embedded features within the Notes and as permitted under applicable accounting guidance, the Company elected to account for the Notes and all the embedded features under the fair value option, which records the Notes at fair value rather than at historical cost, with changes in fair value recorded in the consolidated statements of operations. Direct costs and fees incurred to issue the Notes were recognized in earnings as incurred and were not deferred. On the initial measurement date of January 28, 2019, the fair value of the Notes was estimated at approximately $6.3 million. Upfront costs and fees related to items for which the fair value option was elected were approximately $0.4 million and were recorded as a component of other expenses for the year ended December 31, 2019. In connection with the Notes, the Company entered into registration rights agreement with the Investors. The Company filed a registration statement with the SEC covering the equity rights and any other shares issuable in connection with the Notes on March 14, 2019 and the registration statement was declared effective on April 29, 2019. During the year ended December 31, 2019, holders of the Notes issued in connection with the 2019 Private Financing, converted 100% of the Notes into 1,813,500 shares of the Company’s common stock. The aggregate fair value of the Notes converted during the year ended December 31, 2019 was $10.2 million, an increase in fair value of $3.9 million, which is reflected on the consolidated statements of operations for the year ended December 31, 2019, as change in fair value of convertible note. Accordingly, having satisfied the Notes in full, the Company’s obligations under the Notes have been cancelled. In connection with this Private Financing, the Company also issued Warrants to the Investors to acquire up to an aggregate of 1,908,144 shares of the Company’s common stock at an exercise price of $1.94 per share. The Warrants are exercisable by the Investors beginning on July 29, 2019, through the fifth year anniversary of the effective date of the Private Financing; provided, however, each Investor’s beneficial ownership of the Company’s common stock may not exceed 4.99% of the total outstanding shares of the Company’s common stock without first providing sixty (60) days’ notice to the Company, and, in any event, the ownership, including beneficial ownership, of shares of the Company’s common stock by each of the Investors, shall not exceed 9.99% of the total outstanding shares of our common stock. BMSS and Other Liabilities Settlements On February 21, 2018, the Company completed an asset purchase under an agreement (the “BMSS Purchase Agreement”) with BMSS, to purchase the 3,000 Antminer S9 bitcoin mining machines owned by BMSS Equipment (the “BMSS Equipment”). Pursuant to the BMSS Purchase Agreement, the Company purchased the BMSS Equipment for aggregate consideration of $8.5 million. As of June 27, 2019, in connection with the BMSS agreement, the Company owed approximately $1.3 million of principal and interest and the Company and BMSS agreed to a one-time settlement payment totaling $1.0 million. The remaining $0.4 million was recorded as a gain on extinguishment of notes and interest, and included in other income in the accompanying consolidated statement of operations for the year ended December 31, 2019. During the year ended December 31, 2019, the Company reached agreements with certain creditors to settle the amounts of outstanding liabilities at a discount. The computed value of the modifications as compared to the liability balances were recorded as other income from the gains on extinguishment of debt. The liabilities settled excluding BMSS, during the period totaled approximately $2.1 million in exchange for cash payments of $1.6 million, resulting in a gain of approximately $0.5 million recognized during the year ended December 31, 2019.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	Note 11. Stockholders’ Equity Preferred Stock Series B – Preferred Stock On November 3, 2017, the Company designated 1,750,001 shares of preferred stock as “0% Series B Convertible Preferred Stock” in connection with the filing of the Certificate of Designation with the Secretary of State of the State of Nevada. The shares of Series B Preferred Stock are non-voting and convertible into shares of common stock based on a conversion calculation equal to the stated value of the Series B Preferred Stock, plus all accrued and unpaid dividends, if any, on such Series B Preferred Stock, as of such date of determination, divided by the conversion price. The stated value of each share of Series B Preferred Stock is $6.80 and the initial conversion price is $6.80 per share, each subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions or other similar events. The holders of Series B Preferred Stock are entitled to receive dividends if and when declared by the Company’s board of directors. The Series B Preferred Stock is also subject to beneficial ownership limitations and conversion limitations, as further described in the documents. During the year ended December 31, 2019, 8,801 shares of the Company’s Series B preferred stock were converted into 8,801 shares of the Company’s common stock. As of December 31, 2020 and 2019, 4,199 shares of Series B Preferred Stock were outstanding. F-24 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Common Stock: At-the-Market Equity Offerings: 2019 ATM Offering The Company entered into an At-The-Market Sales Agreement with H.C. Wainwright & Co., LLC (“H.C. Wainwright”), dated as of May 24, 2019 (the “Sales Agreement”), relating to the sale by the Company through H.C. Wainwright as its sales agent, of up to $100.0 million in shares of the Company’s common stock from time to time in an at-the-market offering (“2019 ATM Offering”). All sales of the Company’s common stock in the 2019 ATM Offering were made pursuant to the prospectus and prospectus supplement forming a part of the Company’s shelf registration statement on Form S-3, as amended (Registration No. 333-226111), which was declared effective as of May 8, 2019 (the “2019 Registration Statement”). Effective as of October 15, 2020, as part of the First Amendment to the Sales Agreement discussed below, the Company and H.C. Wainwright terminated the 2019 ATM Offering. As of its termination, the Company had cumulatively sold 30.6 million shares of its common stock, for an aggregate gross sales price of approximately $74 million pursuant to the 2019 ATM Offering. With the termination of the 2019 ATM Offering, no additional securities will be sold by the Company pursuant to the prospectus supplement relating to the 2019 Registration Statement. 2020 ATM Offerings As of October 15, 2020, the Company and H.C. Wainwright entered into the first amendment to the Sales Agreement (the “First Amendment to the Sales Agreement”). Pursuant to the First Amendment to the Sales Agreement, the Company sold, through H.C. Wainwright as its sales agent, $100.0 million in shares of the Company’s common stock from time to time in an at-the-market offering (the “October 2020 ATM Offering”). According to the First Amendment to the Sales Agreement, the Company paid H.C. Wainwright a commission of up to 3.0% of the aggregate gross proceeds the Company receives from all sales of its common stock in the October 2020 ATM Offering. All Sales of shares of the Company’s common stock, no par value in the October 2020 ATM Offering were made pursuant to the prospectus and prospectus supplement filed with and forming a part of the Company’s shelf registration statement on Form S-3 (Registration No. 333-249356), filed with the SEC on October 7, 2020 and declared effective as of October 15, 2020 (the “October 2020 Registration Statement”). Under the terms of the October 2020 ATM Offering, the Company only issued shares of its common stock. The Company did not issue any other securities, including but not limited to, options to purchase shares of the Company’s common stock and common stock warrants, under the October 2020 ATM Offering. Effective December 12, 2020, the Company and H.C. Wainwright entered into the second amendment to the Sales Agreement (the “Second Amendment to the Sales Agreement”). Pursuant to the Second Amendment to the Sales Agreement, the Company has sold, through H.C. Wainwright as its sales agent, up to $200.0 million in shares of the Company’s common stock from time to time in an at-the-market offering (the “December 2020 ATM Offering”). Pursuant to the Second Amendment to the Sales Agreement, the Company paid H.C. Wainwright a commission of up to 3.0% of the aggregate gross proceeds the Company received from all sales of its common stock in the December 2020 ATM Offering. Under the terms of the 2019 and 2020 ATM Offerings, the Company only issued shares of its common stock. 2020 Transactions During the year ended December 31, 2020, the Company received net proceeds under the Sales Agreement, as amended with H.C. Wainwright of approximately $257.5 million (after deducting $7.3 million in commissions and expenses), at a weighted average gross sales price of $5.30 per share, from sales of 49,932,051 shares of its common stock. During the year ended December 31, 2020, the 200,000 shares of common stock held in escrow under the Escrow Deposit Agreement were voided and cancelled. During the year ended December 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 previously expensed under the Company’s former 2017 Equity Incentive Plan. During the year ended December 31, 2020, 2,048,096 shares of common stock were issued to members of the Company’s board of directors, officers and employees of the Company in settlement of an equal number of fully vested restricted stock units awarded to such individuals by the Company pursuant to grants made under the Company’s 2019 Equity Plan. The Company withheld 193,881 of these shares at a fair value of approximately $0.45 million, to cover the withholding taxes related to the settlement of these vested restricted stock units. The settlement of the fully vested restricted stock units included the accelerated vesting of 471,544 restricted stock units due to the resignation of a member of the Company’s Board, as permitted under the 2019 Equity Plan. During the year ended December 31, 2020, the Company issued 40,634 shares of its common stock to a consultant and advisors in settlement of fully vested restricted stock units granted under the 2019 Equity Plan. During the year ended December 31, 2020, the Company issued 1,492,487 shares of its common stock related to the exercise of 1,492,487 common stock warrants granted to the Investors in the January 2019 Private Financing for cash of approximately $2.9 million or $1.94 per share. See Note 10. F-25 Index 2019 Transactions During the year ended December 31, 2019, the Company received net proceeds under the 2019 ATM Sales Agreement, as amended, with H.C. Wainwright of approximately $23.8 million (after deducting $1.0 million commissions and expenses), at a weighted average gross sales price of $2.97 per share, from sales of 8,351,762 shares of its common stock. As additional consideration for the January 2019 Private Financing, the Company issued a total of 150,000 restricted common shares to three investors at an average fair value of $1.70 per share. See Note 10. During the year ended December 31, 2019, 1,813,500 shares of common stock were issued in connection with the conversion of the Notes issued to the investors in the January 2019 Private Financing. See Note 10. During the year ended December 31, 2019, 239,751 shares of common stock were issued, related to past fully vested restricted stock rights previously granted under the Company’s former 2017 Equity Incentive Plan. During the year ended December 31, 2019, under the Company’s 2019 Equity Plan, 1,493,832 restricted stock units were awarded to members of the Board, advisory board members, employees of the Company, and consultants. During this period, under the Company’s former 2017 Equity Incentive Plan, 48,500 restricted stock rights were awarded to a consultant and advisory board members. The restricted stock rights have a grant date fair value of approximately $2.2 million or $1.41 per share, and vest over periods of three months to two years.

Stock Options, Warrants and Res

Stock Options, Warrants and Restricted Common Stock	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Options, Warrants and Restricted Common Stock	Note 12. Stock Options, Warrants and Restricted Common Stock The Company provides stock-based compensation to directors, employees and consultants under the 2019 Equity Plan, which was approved by shareholders on October 23, 2019 at the 2019 Annual Meeting of Shareholders. On November 12, 2020 at the 2020 Annual Meeting of Shareholders, the shareholders approved the First Amendment to the 2019 Equity Plan, which raised the total number of shares of the Company’s common stock to 4,061,809 shares. The Company also provides stock-based compensation to employees, directors and consultants, with non-qualified options and warrants issued outside of the Plan. Stock-based Compensation The Company’s stock-based compensation expenses recognized during the years ended December 31, 2020 and 2019, were attributable to selling, general and administrative expenses, which are included in the accompanying consolidated statements of operations. The Company recognized total stock-based compensation expense during the years ended December 31, 2020 and 2019, from the following categories: Years Ended December 31, 2020 2019 Restricted stock awards under the Plan $ 3,407 $ 687 Stock option awards under the Plan — 58 Total stock-based compensation $ 3,407 $ 745 Restricted common stock awards A summary of the Company’s restricted stock activity in the years ended December 31, 2020 and 2019 is as follows: Number of Shares Weighted Average Grant-Date Fair Value Unvested at January 1, 2019 95,939 $ 12.49 Vested (58,772 ) $ 7.66 Granted 1,542,332 $ 1.41 Forfeited (55,000 ) $ 14.95 Unvested at December 31, 2019 1,524,499 $ 1.37 Vested (2,435,553 ) $ 1.34 Granted 1,544,359 $ 1.27 Unvested at December 31, 2020 633,305 $ 1.27 The value of restricted common stock grants are measured based on their fair market value on the date of grant and amortized over their respective vesting periods. As of December 31, 2020, there was approximately $0.2 million of unrecognized compensation cost related to unvested restricted common stock rights, which is expected to be recognized over a remaining weighted-average vesting period of approximately nine months. F-26 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Stock Incentive Plan Options The Company estimates the fair value of the share-based option awards on the date of grant using the Black-Scholes option-pricing model (the “Black-Scholes model”). Using the Black-Scholes model, the value of the award that is ultimately expected to vest is recognized over the requisite service period in the statement of operations. The Company attributes compensation to expense using the straight-line single option method for all options granted. The Company’s determination of the estimated fair value of share-based payment awards on the date of grant under the Plan is affected by the following variables and assumptions: • The grant date exercise price – the closing market price of the Company’s common stock on the date of the grant; • Expected option term – based on historical experience with existing option holders estimated at 3-5 years; • Estimated dividend rates – based on historical and anticipated dividends over the life of the option; • Legal term of the option – grants have legal lives of 10 years; • Risk-free interest rates – with maturities that approximate the expected life of the options granted; • Calculated stock price volatility – calculated over the expected life of the options granted, which is calculated based on the daily closing price of the Company’s common stock over the period commencing in mid-2017 when the Company changed its strategic focus; and • Option exercise behaviors – based on actual and projected employee stock option exercises and forfeitures. • The Company accounts for forfeitures as they occur. The Company currently provides stock-based compensation to employees, directors and consultants under the Plan. There were no stock options issued during the years ended December 31, 2020 and 2019. A summary of stock option activity under the Plan for options to employees, officers, directors and consultants, for the years ended December 31, 2020 and 2019, is presented below: Shares Underlying Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2019 62,000 $ 15.71 9.2 $ — Granted — $ — — — Exercised — $ — — — Forfeited (50,000 ) $ 18.50 — — Outstanding at December 31, 2019 12,000 $ 4.09 3.7 $ — Exercisable at December 31, 2020 12,000 $ 4.09 2.7 $ 155 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company’s closing stock price on December 31, 2020 and 2019, and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders, had all option holders been able to, and in fact had, exercised their options on December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019, there was no unrecognized stock-based compensation related to stock options. F-27 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Other common stock purchase warrants As of December 31, 2020, the Company had outstanding, 2,061,770 warrants issued in connection with offerings. The following is a summary of the change in outstanding warrants during the years ended December 31, 2020 and 2019: Shares Underlying Options/Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2019 1,671,113 $ 39.47 2.0 $ — Issued 1,908,144 $ 1.94 5.2 — Forfeited (5,000 ) $ 7.90 — — Outstanding at December 31, 2019 3,574,257 $ 19.48 2.9 — Exercised (1,492,487 ) $ 1.94 — — Forfeited (20,000 ) $ 3.50 — — Outstanding and exercisable at December 31, 2020 2,061,770 $ 32.33 1.1 $ 6,256 The Company issued Warrants to purchase 1,908,144 shares of its common stock with an exercise price of $1.94, in connection with the Notes issued on January 28, 2019. During the year ended December 31, 2020, the Company issued 1,492,487 shares of its common stock in connection with the exercise of 1,492,487 common stock warrants for net proceeds of approximately $2.9 million. The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company’s closing stock price on December 31, 2020 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders, had all option holders been able to, and in fact had, exercised their options on December 31, 2020.

Animal Health License Agreement

Animal Health License Agreements	12 Months Ended
	Dec. 31, 2020
Animal Health License Agreements [Abstract]
Animal Health License Agreements	Note 13. Animal Health License Agreements Ceva License Agreement In July 2012, the Company entered into an exclusive license agreement (the “License Agreement”) with Ceva Santé Animale S.A. (“Licensee”), under which the Company granted the Licensee an exclusive royalty-bearing license, until December 31, 2028, to the Company’s intellectual property and other assets, including both (a) the Company’s patent rights and know-how, relating to recombinant single chain reproductive hormone technology for use in non-human mammals (the “Company’s Animal Health Assets”) and (b) the technology licensed to the Company by Washington University in St. Louis (“WU”). The WU license agreement expired under its terms in 2020, with no impact on the License Agreement. The License Agreement contains termination provisions as defined in the License Agreement. Under the License Agreement, the Licensee obtained a worldwide exclusive license to develop, seek regulatory approval for and offer to sell, market, distribute, import and export luteinizing hormone (“LH”) and/or follicle-stimulating hormone (“FSH”) products for bovine (cattle), equine and swine in the field of the assistance and facilitation of reproduction in bovine, equine and swine animals. The Company also granted the Licensee an option and right of first refusal to develop additional animal health products outside of the licensed field of use or any diagnostic pregnancy detection tests for non-human mammals. Under the License Agreement as of December 31, 2020, the Company would be entitled to receive future payments if Ceva achieves certain regulatory approvals as further outlined in the License Agreement. F-28 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The upfront license fees received from the License Agreement have been recorded as deferred revenue and are amortized over the term of the License Agreement. License fees revenue totaling a net of approximately $1.6 million commenced being amortized in July 2012. As of December 31, 2020, deferred revenue of $0.1 million has been classified as a current liability and $0.7 million has been classified as a long-term liability. The current liability represents the next twelve months’ portion of the license fees revenue. For each of the years ended December 31, 2020 and 2019, approximately $0.1 million was recorded as the amortized license fee revenue.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes	Note 14. Income taxes The components of the loss from continuing operations before income taxes for the years ended December 31, 2020 and 2019 are as follows: For the years ended December 31, 2020 2019 Domestic $ (12,667 ) $ (20,446 ) Foreign — — Loss from Continuing Operations before Income Taxes $ 12,667 $ (20,446 ) The components of income tax benefit are as follows: As of December 31, 2020 2019 Current: US Federal $ — $ — US State — — Foreign — — Total current benefit $ — $ — Deferred: US Federal $ — $ 117 US State — 26 Foreign — — Total deferred benefit — 143 Total benefit for income taxes $ — $ 143 F-29 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The tax effects of temporary differences and tax loss and credit carry forwards that give rise to significant portions of deferred tax assets and liabilities at December 31, 2020 and 2019 are comprised of the following: As of December 31, 2020 2019 Deferred income tax assets: Net operating loss carryforwards $ 51,938 $ 43,436 Research and development credit carryforwards 1,063 989 Stock option expense 1,253 1,095 Impairment of mining related assets and other 803 (146 ) Total deferred tax assets 55,057 45,374 Valuation allowance (55,057 ) (45,374 ) Net deferred tax assets $ — $ — The Company has approximately $210.6 million of federal and state tax Net Operating Losses (“NOLs”) that may be available to offset future taxable income, if any. The federal net operating loss carryforwards of $110.3 million, if not utilized, will expire in 2037 Furthermore, as a result of changes in the ownership of our common stock and changes in our business operations, our ability to use our federal NOLs may be limited under Internal Revenue Code Section 382 and 383. State NOLs are subject to similar limitations in many cases. As a result, our substantial NOLs may not have any value to us. The statute of limitations for assessment by the IRS and state tax authorities is open for tax years ending December 31, 2016 through 2020, although carryforward attributes that were generated prior to tax year 2016 may still be adjusted upon examination by the IRS or state tax authorities if they either have been or will be used in a future period. Currently, no federal or state income tax returns are under examination by the respective taxing authorities. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and taxing strategies in making this assessment. In case the deferred tax assets will not be realized in future periods, the Company has provided a valuation allowance for the full amount of the deferred tax assets at December 31, 2020 and 2019. The valuation allowance increased by approximately $9.7 million during the year ended December 31, 2020. The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows: For the years ended December 31, 2020 2019 Statutory federal income tax expense (benefit) $ (2,660 ) $ (4,293 ) State taxes, net of federal tax expense (benefit) (471 ) (664 ) Stock compensation (45 ) 1,142 Tax return to provision true-up (8,737 ) - State tax rate change 2,231 - Other - 195 Change in valuation allowance 9,682 3,477 Income taxes benefit $ - $ (143 ) The Company has not identified any uncertain tax positions requiring a reserve as of December 31, 2020 and 2019. The Company’s policy is to recognize interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits as a component of income tax expense. The Company did not accrue either interest or penalties for the years ended December 31, 2020 and 2019. F-30 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The Company is subject to U.S. federal income tax and primarily Oklahoma and Colorado state income tax. The Company has not been under tax examination in any jurisdiction for the years ended December 31, 2020 and 2019.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 15. Commitments and Contingencies Commitments: Coinmint Co-location Mining Services Agreement On April 8, 2020, the Company entered into an agreement with Coinmint, (the “Coinmint Agreement”), pursuant to which Coinmint agreed to provide up to approximately 9.5 MW of power and to perform all maintenance necessary to operate Riot’s miners at the Coinmint facility. In exchange, Coinmint is reimbursed for direct production expenses and receives a performance fee based on the net cryptocurrencies generated by Riot’s miners deployed at the Coinmint facility. The initial term of the Coinmint Agreement was six months with automatic renewals for subsequent three (3) month terms until and unless terminated as provided in the agreement. The Company determined the agreement with Coinmint does not meet the definition of a lease in accordance with Accounting Standards Codification (“ASC”) 842, Leases. Oklahoma Lease Agreement On February 27, 2018, Kairos entered into a lease agreement (the “OKC Lease”) with 7725 Reno #1, LLC (“7725 Reno”), pursuant to which Kairos leased approximately 107,600 square foot warehouse located in Oklahoma City, Oklahoma. Pursuant to the terms of the OKC Lease and subsequent amendments, the OKC Lease provided the following: • extended the initial term of the lease through June 30, 2020; • monthly base rent of $230,000 for January 2019 and $190,000 per month thereafter for the duration of the OKC Lease, including any renewals thereof; and • changes the monthly electricity usage charges. On June 30, 2020 the OKC Lease expired under its terms. During the three months ended June 30, 2020, the Company had relocated its miners to the Coinmint facility and vacated the OKC facility. Subsequent to the expiration the Company received a full refund of its $0.7 million lease deposit, less applicable electricity charges on July 2, 2020. F-31 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) 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 leased 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 was for thirty-nine Operating Leases At December 31, 2020, he Company did not have any significant operating lease liabilities or right of use assets. The following summarizes quantitative information about the Company’s operating leases: Years Ended Lease cost December 31, 2020 December 31, 2019 Operating lease cost $ 1,240 $ 2,378 Variable lease cost 1,040 3,200 Operating lease expense 2,280 5,578 Short-term lease rent expense 20 17 Total rent expense $ 2,300 $ 5,595 Other information Operating cash flows from operating leases $ 1,207 $ 2,377 Right of use assets exchanged for new operating lease liabilities $ - $ 2,664 Weighted-average remaining lease term – operating leases - 0.5 years Weighted-average discount rate – operating leases N/A 10% Rent expense including electric power costs, recorded on a straight-line basis, was approximately $2.3 million (up to the OKC lease termination as of June 30, 2020) and $5.6 million for the years ended December 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. F-32 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) 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. Takata Takata Klapper 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. On December 24, 2020, Lead Plaintiff filed another amended complaint. Defendants filed multiple motions to dismiss the amended complaint starting on February 8, 2021. 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. F-33 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) 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, another 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. On December 13, 2018, another shareholder derivative complaint was filed on behalf of the Company in the United District Court for the Northern District of New York ( Monts 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 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 Blockchain related to the same litigation and SEC investigation. For the reasons set forth in the Court’s order dismissing Mr. Honig’s and GRQ’s indemnification claims, Riot Blockchain believes that it does not owe an indemnification obligation to the other purported parties and beneficiaries of the SPA and RRA that have made an indemnification demand. Riot Blockchain intends to vigorously contest similar demands for indemnification. F-34 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Kashwise Demand On February 18, 2020, the Company received a demand letter from Kashwise Global Funding, Inc. (“Kashwise”) for the payment of fees pursuant to an alleged arrangement between the Company and Kashwise in connection with the January 2019 private exempt offering of the Company’s securities to a group of accredited investors (the “Kashwise Demand”). The Company timely responded to the Kashwise Demand; however, on April 13, 2020, Kashwise Global Funding Solutions, Inc. 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 similar 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 where it remains pending with a scheduled trial date (if not delayed by the COVID-19 pandemic) in June of 2021. The Company continues to vigorously dispute the allegations made in the Kashwise Suit. However, the Company 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 did not intend to recommend an enforcement action against Riot. Registration Rights Penalty During December 2017, the Company closed on the sale of approximately $37 million of units comprised of 1,646,113 shares of its common stock and warrants to purchase up to 1,646,113 shares of its common stock (the “Units”) in a private exempt offering (the “December 2017 Private Placement”) to certain accredited investors (the “December 2017 Investors”), as previously disclosed by the Company on its Current Report on Form 8-K filed with the SEC on December 19, 2017. In connection with the December 2017 Private Placement, the Company entered into registration rights agreements (the “December 2017 Registration Rights Agreements”) with the December 2017 Investors, pursuant to which the Company agreed to take certain steps to register the shares underlying the Units. The Company accounted for the December 2017 Registration Rights Agreements in accordance with ASC 825-20, “Registration Payment Arrangements.” ASC 825-20 addresses an issuer’s accounting for registration payment arrangements and, in accordance with ASC 450-20 “Loss Contingencies,” the Company recorded approximately $1,358,000 for this contingent liability in 2018. F-35 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) On January 5, 2018, pursuant to December 2017 Registration Rights Agreements, the Company filed a registration statement on Form S-3 to register the shares underlying the Units. Subsequently, in April 2018, the Company received a subpoena from the SEC as part of an investigation, requesting documents and information. In July 2018, the SEC issued an Order Directing Examination and Designating Officers Pursuant to Section 8(e) of the Securities Act with respect to certain of the Company’s registration statements, including the registration statement on Form S-3 it filed pursuant to the December 2017 Registration Rights Agreements. On October 12, 2018, the Company filed for withdrawal of this registration statement on Form S-3, as well as other of its registration statements. On October 22, 2018, the Company was notified by SEC staff that the SEC had terminated the Section 8(e) examination with respect to the above-referenced registration statements. 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 did not intend to recommend an enforcement action against Riot. Following the conclusion of the SEC’s activities as described above, the Company has evaluated its performance of its obligations under the December 2017 Registration Rights Agreements and has determined that it substantially complied with its requirements, and that its ultimate inability to cause the registration of the shares underlying the Units as required by the December 2017 Registration Rights Agreements was due to actions taken by the SEC. The Company has therefore determined to reverse the accrual pursuant to ASC 450-20 related to the December 2017 Registration Rights Agreements for its 2020 consolidated financial statements.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Events: Financing During January 2021, in connection with the Company’s Sales Agreement, as amended with H.C. Wainwright, the Company received gross proceeds of approximately $84.8 million from the sale of 4,433,468 shares of common stock, with an average fair value of $19.13 per share, in the December 2020 ATM Offering. With the sale and issuance of these shares, all $200 million in shares of the Company’s common stock registered under the December 2020 Registration Statement had been issued and the Company completed the December 2020 ATM Offering. Under the terms of the December 2020 ATM Offering, the Company only issued shares of its common stock. Common Stock Subsequent to December 31, 2020, 242,645 shares of common stock were issued to members of the Company’s board of directors, officers, employees and advisors of the Company in settlement of an equal number of fully vested restricted stock units awarded to such individuals by the Company pursuant to grants made under the Company’s 2019 Equity Plan. The Company withheld 40,250 of these shares at a fair value of approximately $0.3 million, to cover the withholding taxes related to the settlement of these vested restricted stock units. Subsequent to December 31, 2020, for 2021 services the Company awarded 41,440 restricted shares of common stock to directors, employees and advisors generally vesting over a one Subsequent to December 31, 2020, the Company issued 415,657 shares of its common stock in connection with the exercise of 415,657 common stock warrants for net proceeds of approximately $0.8 million. Subsequent to December 31, 2020, warrants to purchase 1,257,235 shares of common stock were exercised on a cashless basis for 543,686 shares of common stock. Subsequent to December 31, 2020, 2,000 shares of the Company’s Series B preferred stock were converted into 2,000 shares of its common stock, leaving 2,199 shares outstanding. F-36 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Commitments Executive Employment Agreements On February 8, 2021, Mr. Jason Les, agreed to serve as the Company’s Chief Executive Officer (“CEO”), effective on the same date. Mr. Les and the Company entered into an Executive Employment Agreement, (the “Les Employment Agreement”), pursuant to which Mr. Les has agreed to serve as the Company’s CEO for a five (5) year term, which renews for successive one (1) year terms after the expiration of the initial term. As CEO, Mr. Les will receive a prorated annual salary of $240,000 and ten (10) bitcoin. Pursuant to the Les Employment Agreement, Mr. Les was also awarded an initial equity award of 25,000 restricted stock units (RSUs) under and pursuant to the 2019 Equity Incentive Plan (the “Plan”), which RSUs are eligible to vest in four (4) equal quarterly installments on the first day following the end of each fiscal quarter following his appointment as CEO. On February 8, 2021, Mr. Jeffrey McGonegal, who was appointed CEO in early 2019, agreed to focus on his long-standing position as the Company’s Chief Financial Officer (“CFO”), effective as of the same date the Company and Mr. McGonegal entered into the First Amendment to the Amended and Restated Executive Employment Agreement (the “Amended McGonegal Employment Agreement”), pursuant to which Mr. McGonegal agreed to continue to serve as the Company’s CFO through February 7, 2022. The Amended McGonegal Employment Agreement amends the Amended and Restated Executive Employment Agreement, dated as of February 7, 2020, between Mr. McGonegal and the Company. Under the Amended McGonegal Employment Agreement, Mr. McGonegal will receive a prorated annual salary of $360,000. Pursuant to the Amended McGonegal Employment Agreement, Mr. McGonegal was also awarded an initial equity award of 20,000 RSUs pursuant to the 2019 Equity Plan, which RSUs are eligible to vest in four (4) equal quarterly installments. Cryptocurrency Miner Purchases Pursuant to a purchase agreement dated effective as of March 11, 2021, with Bitmain, the Company acquired an additional 1,500 model S19j (90 TH/S) Antminers, for a total purchase price of approximately $7.3 million, of which $3.6 million was paid to Bitmain as a partially-refundable deposit on the acquisition of these 1,500 new model S19j miners, which are scheduled to be delivered in October 2021.

Basis of Presentation, Summar_2

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of consolidation	Principles of consolidation The accompanying consolidated financial statements of the Company include the accounts of the Company and its wholly or majority owned and controlled subsidiaries. Consolidated subsidiaries results are included from the date the subsidiary was formed or acquired. Intercompany investments, balances and transactions have been eliminated in consolidation. Non–controlling interests represents the minority equity investment in the Company’s subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interest. The Company’s consolidated operating subsidiaries and (percentage owned at December 31, 2020) consisted of; Riot Blockchain Canada, Inc., (100%), RiotX Holdings, Inc (92.5%) and Logical Brokerage Corp. (92.5%). None of the consolidated subsidiaries had any significant assets or operations. Amounts are in thousands except for share, per share and miner amounts.
Use of estimates	Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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 financial statements include estimates associated with revenue recognition, asset valuations, the useful lives and recoverability of long-lived assets, impairment analysis of indefinite lived intangibles, stock-based compensation, and the valuation allowance associated with the Company’s deferred tax assets.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no impact on the previously reported financial position or results of operations.
Long-term investments	Long-term investments Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2016-01 and related ASU 2018-03 concerning recognition and measurement of financial assets and financial liabilities. In adopting this new guidance, the Company has made an accounting policy election to adopt an adjusted cost method measurement alternative for investments in equity securities without readily determinable fair values. For equity investments that are accounted for using the measurement alternative, the Company initially records equity investments at cost but is required to adjust the carrying value of such equity investments through earnings when there is an observable transaction involving the same or a similar investment with the same issuer or upon an impairment.
Cash, cash equivalents and short-term investments	Cash, cash equivalents and short-term investments The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. From time to time, the Company’s cash account balances exceed the balances as covered by the Federal Deposit Insurance System. The Company has never suffered a loss due to such excess balances. As of December 31, 2020 and 2019, the Company had no cash equivalents or short-term investments.
Fair value of financial instruments	Fair value of financial instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) ASC 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 — observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 — assets and liabilities whose significant value drivers are unobservable. F-10 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment. As of December 31, 2020, there were no financial assets or liabilities measured at fair value. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, and accounts payable, approximate fair value due to the short-term nature of these instruments. During the year ended December 31, 2019, the Company issued convertible notes and warrants in connection with the notes. The notes and warrants were classified as liabilities and measured at fair value on the issuance date, with changes in fair value recognized as other expense on the consolidated statements of operations and disclosed in the consolidated financial statements.
Cryptocurrencies	Cryptocurrencies Cryptocurrencies, (including bitcoin and bitcoin cash) are included in current assets in the accompanying consolidated balance sheets. Cryptocurrencies purchased are recorded at cost and cryptocurrencies awarded to the Company through its mining activities are accounted for in connection with the Company’s revenue recognition policy disclosed below. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Purchases of cryptocurrencies by the Company are included within investing activities in the accompanying consolidated statements of cash flows, while cryptocurrencies awarded to the Company through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the consolidated statements of operations. The Company accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting.
Deferred Revenue	Deferred revenue The Company recognized upfront license fees from Ceva Santé Animale S.A. (“Licensee”) related to its exclusive license agreement (“License Agreement”), which have been recorded as deferred revenue and are being amortized over the term of the License Agreement. Amortization of the license fees totaling approximately $1.6 million began in July 2012. As of December 31, 2020, and 2019, each, deferred revenue of approximately $0.1 million has been classified as a current liability and $0.7 million and $0.8 million, respectively, has been classified as a long-term liability. The current liability represents the next twelve months’ portion of the license fees revenue. For each of the years ended December 31, 2020 and 2019, approximately $0.1 million, was recorded as the license fee revenue.
Property and equipment	Property and equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets, generally two years for cryptocurrency mining equipment and three years for computer related assets. Estimated useful lives for leasehold improvements are typically the lesser of the estimated useful life of the asset or the life of the term of the lease.
Patents and other intangible assets	Patents and other intangible assets The Company accounts for intangible assets under ASC 350-30. Patents costs consisting of filing and legal fees incurred are initially recorded at cost. Patents are amortized over the legal life of the patent or their estimated useful lives, using the straight-line method. Certain patents are in the legal application process and therefore are not currently being amortized.
Impairment of long-lived assets	Impairment of long-lived assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the year ended December 31, 2020, the Company determined there were indicators that would cause a 100% impairment of its Coinsquare investment and observed price changes. Therefore, the Company recorded an impairment expense of $9.4 million for its investment in Coinsquare during the year ended December 31, 2020. The Company made the decision, effective as of December 31, 2019 not to pursue its RiotX / Logical Brokerage cryptocurrency exchange development plan, and as of December 31, 2019 recorded an impairment of intangible assets acquired of approximately $0.7 million.
Deferred tax liability	Deferred tax liability Due to certain acquisitions, temporary differences between the book fair value and the tax basis of the indefinite life intangible assets and depreciable property and equipment were recorded. The Company recognized a $0.1 million deferred tax liability related to its Logical Brokerage acquisition during the year ended December 31, 2018. Subsequently, due to the Company’s decision not to pursue its Logical Brokerage business and the impairment and depreciation of the Kairos property and equipment, the Company recorded a $0.1 million income tax benefit during the year ended December 31, 2019 from the reduction of its existing deferred tax liability related to its acquisitions. The following is a rollforward of the Company’s deferred tax liability from January 1, 2019 to December 31, 2019: Beginning Balance, January 1, 2019 $ 143 Abandonment of Logical Brokerage (143 ) Ending Balance, December 31, 2019 $ — There was no deferred tax liability as of December 31, 2020.
Sequencing	Sequencing On January 28, 2019, the Company adopted a sequencing policy under Accounting Standards Codification (“ASC”) 815-40-35 Derivatives and Hedging
Notes payable fair value option	Notes payable fair value option As described further in Note 10 - Notes and Other Obligations, As of December 31, 2019, all of the Notes were converted into 1,813,500 shares of the Company’s common stock valued at their estimated fair value at the time of conversion totaling approximately $10.2 million.
Warrant liability	Warrant liability The Company issued Warrants to purchase 1,908,144 shares of its common stock in connection with the Notes issued to the Investors in January 2019, and recorded these outstanding Warrants as a liability at fair value utilizing a Monte Carlo simulation model. This liability is subject to re-measurement at each balance sheet date, and any change in fair value is recognized in the Company’s consolidated statements of operations. As of June 25, 2019, the Company’s Notes had been converted in their entirety and the warrant liability was revalued and reclassified to equity, because the Warrants are no longer subject to the Company’s sequencing policy as described above.
Leases	Leases Effective January 1, 2019, the Company accounts for its leases under ASC 842, Leases In calculating the right of use asset and lease liability, the Company elects to combine lease and non-lease components as permitted under ASC 842. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term.
Revenue recognition	Revenue recognition Cryptocurrency mining: The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers. The core principle of the new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: • Step 1: Identify the contract with the customer • Step 2: Identify the performance obligations in the contract • Step 3: Determine the transaction price • Step 4: Allocate the transaction price to the performance obligations in the contract • Step 5: Recognize revenue when the Company satisfies a performance obligation In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following: • Variable consideration • Constraining estimates of variable consideration • The existence of a significant financing component in the contract • Noncash consideration • Consideration payable to a customer Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate. F-13 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) The Company has entered into digital asset mining pools by executing contracts, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the blockchain. The terms of the agreement provides that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power in digital asset transaction verification services is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations.
Cost of revenue	Cost of revenue The Company’s cost of revenue consists primarily of direct costs of earning bitcoin related to mining operations, including mining pool fees, electric power costs, other utilities, labor, insurance whether incurred directly from self-mining operations or reimbursed, including any revenue sharing arrangements under co-location agreements, but excluding depreciation and amortization, which are separately stated in the Company’s consolidated statements of operations.
Income taxes	Income taxes The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable. ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
Stock-based compensation	Stock-based compensation The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. These options generally vest on the grant date or over a one- year period. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Expected Term Expected Volatility Risk-Free Interest Rate Expected Dividend Effective January 1, 2017, the Company elected to account for forfeited awards as they occur, as permitted by Accounting Standards Update (“ASU”) 2016-09. Ultimately, the actual expenses recognized over the vesting period will be for those shares that vested. Prior to making this election, the Company estimated a forfeiture rate for awards at 0%, as the Company did not have a significant history of forfeitures.
Earnings (loss) per share	Earnings (loss) per share Basic net earnings (loss) per share (“EPS”) of common stock is computed by dividing the Company’s net earnings (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 only incurred losses, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at December 31, 2020 and 2019 because their inclusion would be anti-dilutive are as follows: December 31, 2020 2019 Warrants to purchase common stock 2,061,770 3,574,257 Options to purchase common stock 12,000 12,000 Unvested restricted stock awards 633,305 1,524,499 Convertible Series B preferred shares 4,199 4,199 Total 2,711,274 5,114,955
Segment Reporting	Segment reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group in deciding how to allocate resources and in assessing performance. Our chief operating decision–making group is composed of the chief executive officer. We currently operate in one segment surrounding our cryptocurrency mining operation.
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 consolidated financial statements properly reflect the change. In December 2019, the FASB issued ASU No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12” In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)

Basis of Presentation, Summar_3

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Changes in Deferred Tax Liability	Due to certain acquisitions, temporary differences between the book fair value and the tax basis of the indefinite life intangible assets and depreciable property and equipment were recorded. The Company recognized a $0.1 million deferred tax liability related to its Logical Brokerage acquisition during the year ended December 31, 2018. Subsequently, due to the Company’s decision not to pursue its Logical Brokerage business and the impairment and depreciation of the Kairos property and equipment, the Company recorded a $0.1 million income tax benefit during the year ended December 31, 2019 from the reduction of its existing deferred tax liability related to its acquisitions. The following is a rollforward of the Company’s deferred tax liability from January 1, 2019 to December 31, 2019: Beginning Balance, January 1, 2019 $ 143 Abandonment of Logical Brokerage (143 ) Ending Balance, December 31, 2019 $ —
Schedule of Antidilutive Securities	Since the Company has only incurred losses, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at December 31, 2020 and 2019 because their inclusion would be anti-dilutive are as follows: December 31, 2020 2019 Warrants to purchase common stock 2,061,770 3,574,257 Options to purchase common stock 12,000 12,000 Unvested restricted stock awards 633,305 1,524,499 Convertible Series B preferred shares 4,199 4,199 Total 2,711,274 5,114,955

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2020
Prive Technologies, Inc. [Member]
Business Acquisition [Line Items]
Schedule of Assets and Liabilities Acquired	Cash consideration $ 11,000 Fair value of common stock 8,480 Other expenses 2 Total $ 19,482

Cryptocurrencies (Tables)

Cryptocurrencies (Tables)	12 Months Ended
	Dec. 31, 2020
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Summary of Additional Information About Cryptocurrencies	The following table presents additional information about cryptocurrencies: December 31, 2020 December 31, 2019 Beginning balance $ 3,839 $ 707 Revenue recognized from cryptocurrencies mined 11,984 6,741 Mining pool operating fees (146 ) (135 ) Proceeds from sale of cryptocurrencies (8,298 ) (3,196 ) Purchase of miner equipment with cryptocurrencies — (99 ) Realized gain on sale/exchange of cryptocurrencies 5,184 665 Impairment of cryptocurrencies (989 ) (844 ) Cryptocurrencies received from sale of equipment 52 — Ending balance $ 11,626 $ 3,839

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Weighted Average Unobservable Inputs	A summary of weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s Notes and Warrants at the issuance date of January 28, 2019 and during the conversion of the Notes as of June 27, 2019, are as follows: Senior Secured Promissory Notes January 28, 2019 As of June 27, 2019 Dividend yield 0% 0% Expected price volatility 119.5% 122.2%-127.1% Risk free interest rate 2.60% 2.07%-2.44% Expected term 1 year - F-17 Index Riot Blockchain, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except for share and per share amounts) Warrants January 28, 2019 As of June 27, 2019 Dividend yield 0% 0% Expected price volatility 111.6% 119.9%-120.5% Risk free interest rate 2.58% 2.23%-2.58% Expected term 5 years 4 years, 10 months
Schedule of Changes in Level 3 Liabilities Measured at Fair Value	The following table presents changes in Level 3 liabilities measured at fair value for the year ended December 31, 2019: Convertible Notes Warrant Liability Issuance of senior secured convertible notes $ 6,330 $ — Issuance of warrants in connection with convertible notes — 2,570 Balance at January 28, 2019 6,330 2,570 Change in fair value 3,896 2,869 Conversion of convertible notes to common stock (10,226 ) — Reclassification of warrant liability to equity — (5,439 ) Balance at December 31, 2019 $ — $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Miners $ 14,406 $ 5,010 Leasehold improvements - 38 Office and computer equipment 83 103 Total cost of property and equipment 14,489 5,151 Less accumulated depreciation (4,346 ) (100 ) Property and equipment, net $ 10,143 $ 5,051
Schedule of Impairment Charges	As of December 31, 2020, the Company had outstanding executed purchase agreements primarily for the purchase of miners from Bitmain for a total of 30,603 new S19-Pro miners, to be delivered in 2021 through October 2021. A summary of the purchase agreement commitments, deposits paid and expected delivery timing (remaining balances are payable in advance of shipping) is summarized as follows: Agreement Date * Purchase Commitment Deposits Paid Expected Shipping August 12, 2020 $ 17,428 $ 13,071 First Quarter 2021 August 25, 2020 $ 11,110 $ 5,773 First - Second Quarter 2021 September 30, 2020 $ 6,094 $ 6,124 First Quarter 2021 December 18, 2020 (1 of 2) $ 26,308 $ 2,631 Third - Fourth Quarter 2021 December 18, 2020 (2 of 2) $ 8,577 $ 4,289 Second - Third Quarter 2021 Other contracts and costs $ 2,804 $ 1,205 Total $ 72,321 $ 33,093

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Schedule of Long-Term Investments	Long-term investments consisted of the following as of December 31, 2020 and 2019: Coinsquare Tess Verady Total Balance at January 1, 2019 $ 9,413 $ — $ 200 $ 9,613 Investment in Tess — 90 — 90 Accrued interest on convertible note — — 20 20 Balance at December 31, 2019 9,413 90 220 9,723 Impairment of long-term investment (9,413 ) — — (9,413 ) Balance at December 31, 2020 $ — $ 90 $ 220 $ 310
Schedule of Fair Value Shares	April 10, 2019 Tess shares held by Riot Blockchain, Inc. 2,708,333 Per share fair value $ 0.03 Fair value of Tess shares held by Riot Blockchain, Inc. $ 90
Schedule of Calculation of Gain on Deconsolidation of Tess	The deconsolidation of Tess resulted in a gain of approximately $1.1 million calculated as follows on the date of deconsolidation: Current assets $ 130 Less: Accounts payable 761 Accrued expenses 275 Convertible notes 1,696 Net liabilities ( 2,602 ) Non-controlling interest share 1,553 Sub-total ( 1,048 ) Less: fair value of shares owned by Riot Blockchain 90 Gain on deconsolidation of Tess $ ( 1,139 )

Long-Term Assets (Tables)

Long-Term Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amounts Related to Acquired Intangible Assets	The Company’s intangible assets with finite lives consist of its patents pertaining to its legacy animal health business, which have been out-licensed. For all periods presented, all of the Company’s identifiable intangible assets were subject to amortization. The carrying amounts related to acquired intangible assets as of December 31, 2020 and 2019 were as follows: December 31, 2020 December 31, 2019 Patents $ 713 $ 1,157 Accumulated amortization (377 ) (698 ) Patents, net $ 336 $ 459
Schedule of Total Estimated Amortization of Intangible Assets	During the year ended December 31, 2020, the Company wrote-off approximately $0.05 million of remaining net patent costs related to its now expired license agreement with Washington University in St. Louis. See Note 13. The following table represents the total estimated amortization of intangible assets for the five succeeding years and thereafter: For the year ended December 31, Estimated amortization expense 2021 86 2022 86 2023 86 2024 78 Total $ 336

Stock Options, Warrants and R_2

Stock Options, Warrants and Restricted Common Stock (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Recognized Stock-based Compensation	The Company recognized total stock-based compensation expense during the years ended December 31, 2020 and 2019, from the following categories: Years Ended December 31, 2020 2019 Restricted stock awards under the Plan $ 3,407 $ 687 Stock option awards under the Plan — 58 Total stock-based compensation $ 3,407 $ 745
Summary of Restricted Stock Activity	A summary of the Company’s restricted stock activity in the years ended December 31, 2020 and 2019 is as follows: Number of Shares Weighted Average Grant-Date Fair Value Unvested at January 1, 2019 95,939 $ 12.49 Vested (58,772 ) $ 7.66 Granted 1,542,332 $ 1.41 Forfeited (55,000 ) $ 14.95 Unvested at December 31, 2019 1,524,499 $ 1.37 Vested (2,435,553 ) $ 1.34 Granted 1,544,359 $ 1.27 Unvested at December 31, 2020 633,305 $ 1.27
Summary of Stock Incentive Plan Activity	Shares Underlying Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2019 62,000 $ 15.71 9.2 $ — Granted — $ — — — Exercised — $ — — — Forfeited (50,000 ) $ 18.50 — — Outstanding at December 31, 2019 12,000 $ 4.09 3.7 $ — Exercisable at December 31, 2020 12,000 $ 4.09 2.7 $ 155
Schedule of Changes in Outstanding Warrants	As of December 31, 2020, the Company had outstanding, 2,061,770 warrants issued in connection with offerings. The following is a summary of the change in outstanding warrants during the years ended December 31, 2020 and 2019: Shares Underlying Options/Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2019 1,671,113 $ 39.47 2.0 $ — Issued 1,908,144 $ 1.94 5.2 — Forfeited (5,000 ) $ 7.90 — — Outstanding at December 31, 2019 3,574,257 $ 19.48 2.9 — Exercised (1,492,487 ) $ 1.94 — — Forfeited (20,000 ) $ 3.50 — — Outstanding and exercisable at December 31, 2020 2,061,770 $ 32.33 1.1 $ 6,256

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Loss From Continuing Operations by Domestic and Foreign Jurisdictions	The components of the loss from continuing operations before income taxes for the years ended December 31, 2020 and 2019 are as follows: For the years ended December 31, 2020 2019 Domestic $ (12,667 ) $ (20,446 ) Foreign — — Loss from Continuing Operations before Income Taxes $ 12,667 $ (20,446 )
Schedule of Components of Income Tax Benefit	The components of income tax benefit are as follows: As of December 31, 2020 2019 Current: US Federal $ — $ — US State — — Foreign — — Total current benefit $ — $ — Deferred: US Federal $ — $ 117 US State — 26 Foreign — — Total deferred benefit — 143 Total benefit for income taxes $ — $ 143
Schedule of Deferred Tax Assets and (Liabilities)	The tax effects of temporary differences and tax loss and credit carry forwards that give rise to significant portions of deferred tax assets and liabilities at December 31, 2020 and 2019 are comprised of the following: As of December 31, 2020 2019 Deferred income tax assets: Net operating loss carryforwards $ 51,938 $ 43,436 Research and development credit carryforwards 1,063 989 Stock option expense 1,253 1,095 Impairment of mining related assets and other 803 (146 ) Total deferred tax assets 55,057 45,374 Valuation allowance (55,057 ) (45,374 ) Net deferred tax assets $ — $ —
Schedule of Federal Statutory Rate Reconcilition Tax Expense (Benefit)	The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows: For the years ended December 31, 2020 2019 Statutory federal income tax expense (benefit) $ (2,660 ) $ (4,293 ) State taxes, net of federal tax expense (benefit) (471 ) (664 ) Stock compensation (45 ) 1,142 Tax return to provision true-up (8,737 ) - State tax rate change 2,231 - Other - 195 Change in valuation allowance 9,682 3,477 Income taxes benefit $ - $ (143 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating Leases	The following summarizes quantitative information about the Company’s operating leases: Years Ended Lease cost December 31, 2020 December 31, 2019 Operating lease cost $ 1,240 $ 2,378 Variable lease cost 1,040 3,200 Operating lease expense 2,280 5,578 Short-term lease rent expense 20 17 Total rent expense $ 2,300 $ 5,595 Other information Operating cash flows from operating leases $ 1,207 $ 2,377 Right of use assets exchanged for new operating lease liabilities $ - $ 2,664 Weighted-average remaining lease term – operating leases - 0.5 years Weighted-average discount rate – operating leases N/A 10%

Organization (Details)

Organization (Details) $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Kairos Global Technology, Inc [Member]
Number of computers acquired		8,000
Model One [Member]
Discontinue of miners		4,000
Model Two [Member]
Discontinue of miners		1,040
Model Three [Member]
Discontinue of miners		2,000
S17 Pro Antminers [Member]
Number of computers acquired			4,000
Value of computers acquired			$ 6.3
S17 Pro miners [Member]
Number of computers acquired		4,000	1,000
S19 Miners [Member]
Number of computers acquired		1,040
S19 Pro Miners [Member]
Number of computers acquired		2,003
Agreement with Bitmain for acquisition of miners [Member]
Number of computers acquired		33,646
Deposits		$ 31.9
Agreement with Bitmain for acquisition of miners [Member] | Subsequent Event [Member]
Number of computers acquired	30,603
Value of computers acquired	$ 76.1
Deposits	$ 37.6
Agreement with Bitmain for acquisition of S19 Antiminers [Member]
Number of computers acquired		3,043
Value of computers acquired		$ 6.6

Liquidity and Financial Condi_2

Liquidity and Financial Condition (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2021USD ($)	Dec. 31, 2018USD ($)
Cash and cash equivalents		$ 223,382	$ 7,440		$ 225
Working capital		2,339
Stockholders' equity		277,071	26,235		$ 4,491
Accumulated deficit		229,912	217,238
Proceeds from the sale of stock		$ 264,727	24,825
Agreement with Bitmain for acquisition of miners [Member]
Number of computers acquired		33,646
Deposits		$ 31,900
Agreement with Bitmain for acquisition of miners [Member] | Subsequent Event [Member]
Number of computers acquired				30,603
Value of computers acquired				$ 76,100
Deposits				$ 37,600
Agreement with Bitmain for acquisition of S19 Antiminers [Member]
Number of computers acquired		3,043
Value of computers acquired		$ 6,600
H.C. Wainwright [Member] | Subsequent Event [Member]
Proceeds from the sale of stock	$ 84,800
Share price | $ / shares	$ 19.13
Common Stock [Member]
Stock issued during period | shares		1,492,487
2020 ATM Offering [Member] | Common Stock [Member] | H.C. Wainwright [Member]
Proceeds from the sale of stock		$ 2,575,000
Commision paid		$ 7,300,000
Weighted average price | $ / shares		$ 5.30
Stock issued during period | shares		49,932,051
2019 ATM Offering [Member] | Common Stock [Member] | H.C. Wainwright [Member]
Stockholders' equity		$ 200
Proceeds from the sale of stock			23,800
Commision paid			$ 1,000
Weighted average price | $ / shares		$ 19.13	$ 2.97
Stock issued during period | shares		4,433,468	8,351,762

Basis of Presentation, Summar_4

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Jun. 27, 2019	Jul. 31, 2012	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Jan. 31, 2019	Jan. 28, 2019	Dec. 31, 2018
Deferred tax liability								$ 143
Income taxes benefit					$ 143
Impairment of intangible assets					700
Amortization of license fees and milestone revenue		$ 1,600		(97)	(96)
Deferred revenue				97	97
Deferred revenue, noncurrent				679	776
Revenue				12,081	6,837
Conversion of notes into shares	1,813,500
Fair value of notes					10,226
Coinsquare Investment [Member]
Impairment of intangible assets				9,400
License and Maintenance [Member]
License fee revenue				$ 100	$ 100
Senior Secured Convertible Promissory Notes [Member]
Conversion of notes into shares					1,813,500
Fair value of notes			$ 3,900		$ 10,200
Investors [Member] | Senior Secured Convertible Promissory Notes [Member]
Debt instrument face amount						$ 3,400	$ 3,400
Warrant issued						1,908,144	1,908,144
Cryptocurrency machine [Member]
Estimated useful life				2 years
Computer related assets [Member]
Estimated useful life				3 years
Logical Brokerage Corp [Member]
Ownership percentage					92.50%
Deferred tax liability								$ 100
Income taxes benefit				$ 100
Impairment of intangible assets				$ 700	$ 700
Kairos Global Technology, Inc [Member]
Income taxes benefit					$ 100
Riot Blockchain Canada [Member]
Ownership percentage					100.00%
Riot X Holdings, Inc. [Member]
Ownership percentage					92.50%

Basis of Presentation, Summar_5

Basis of Presentation, Summary of Significant Accounting Policies (Schedule of Changes in Deferred Tax Liability) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Beginning Balance	$ 143
Abandonment of Logical Brokerage	$ (143)

Basis of Presentation, Summar_6

Basis of Presentation, Summary of Significant Accounting Policies (Schedule of Antidilutive Securities) (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	2,711,274	5,114,955
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	2,061,770	3,574,257
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	12,000
Unvested restricted stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	633,305	1,524,499
Convertible Preferred Stock Series B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares not included in the computation of EPS	4,199	4,199

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 26, 2018	Feb. 21, 2018	Dec. 31, 2020	Dec. 31, 2019	Feb. 29, 2020
Business Acquisition [Line Items]
Income taxes benefit				$ 143
Impairment of intangible rights acquired				$ 700
Prive Technologies, Inc. [Member]
Business Acquisition [Line Items]
Common stock shares held in escrow		200,000			200,000
Common stock escrow value			10,000
Net purchase price		$ 19,500
Logical Brokerage Corp [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired				92.50%
Common stock, par value	$ 9.25
Aggregate cash consideration	$ 600
Net purchase price	100
Purchase of consideration	$ 600
Income taxes benefit			100
Impairment of intangible rights acquired			$ 700	$ 700

Acquisitions (Schedule of Purch

Acquisitions (Schedule of Purchase Price for the Miners) (Details) - Prive Technologies, Inc. [Member] $ in Thousands	Dec. 31, 2020USD ($)
Cash consideration	$ 11,000
Fair value of common stock	8,480
Other expenses	2
Total	$ 19,482

Cryptocurrencies (Summary of Ad

Cryptocurrencies (Summary of Additional Information About Cryptocurrencies) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Cryptocurrencies, beginning balance	$ 3,839	$ 707
Revenue recognized from cryptocurrencies mined	11,984	6,741
Mining pool operating fees	(146)	(135)
Proceeds from sale of cryptocurrencies	(8,298)	(3,196)
Purchase of miner equipment with cryptocurrencies		(99)
Realized gain on sale/exchange of cryptocurrencies	5,184	665
Impairment of cryptocurrencies	(989)	(844)
Cryptocurrencies received from sale of equipment	52
Cryptocurrencies, ending balance	$ 11,626	$ 3,839

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	1 Months Ended
	Jun. 27, 2019shares
Fair Value Disclosures [Abstract]
Conversion of notes into shares	1,813,500

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Weighted Average Unobservable Inputs) (Details) - Fair Value, Inputs, Level 3 [Member]	1 Months Ended
	Jun. 27, 2019	Jan. 28, 2019
Dividend yield [Member] | Warrant [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	0%	0%
Expected Price volatility [Member] | Warrant [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	119.9%-120.5%	111.6%
Risk free interest rate [Member] | Warrant [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	2.23%-2.58%	2.58%
Expected term [Member] | Warrant [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	4 years, 10 months	5 years
Senior Secured Convertible Promissory Notes [Member] | Dividend yield [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	0%	0%
Senior Secured Convertible Promissory Notes [Member] | Expected Price volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	122.2%-127.1%	119.5%
Senior Secured Convertible Promissory Notes [Member] | Risk free interest rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs	2.07%-2.44%	2.60%
Senior Secured Convertible Promissory Notes [Member] | Expected term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Unobservable Inputs		1 year

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Changes in Level 3 Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Issuance of senior secured convertible notes		$ 3,000
Issuance of warrants in connection with convertible notes	2,900
Conversion of convertible notes to common stock		(10,226)
Reclassification of warrant liability to equity		5,439
Convertible Notes [Member] | Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Issuance of senior secured convertible notes		6,330
Issuance of warrants in connection with convertible notes
Balance Beginning		6,330
Change in fair value		3,896
Conversion of convertible notes to common stock		(10,226)
Reclassification of warrant liability to equity
Balance Ending
Warrant [Member] | Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Issuance of senior secured convertible notes
Issuance of warrants in connection with convertible notes		2,570
Balance Beginning		2,570
Change in fair value		2,869
Conversion of convertible notes to common stock
Reclassification of warrant liability to equity		(5,439)
Balance Ending

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) $ in Millions	Dec. 31, 2020USD ($)
Pilot project [Member]
Property, Plant and Equipment [Line Items]
Total of contract deposits	$ 1.2
Bitmain [Member]
Property, Plant and Equipment [Line Items]
Number of computers acquired	33,646
Pro Antminers Bitmain [Member]
Property, Plant and Equipment [Line Items]
Number of computers acquired	3,043
Delivered Beginning in January 2021 [Member]
Property, Plant and Equipment [Line Items]
Number of computers acquired	30,603

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Feb. 28, 2020USD ($)
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	$ 14,489	$ 5,151
Less accumulated depreciation	(4,346)	(100)
Property and equipment, net	10,143	5,051
Depreciation expense	4,500	$ 100
Patents [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	200
Bitmain [Member]
Property, Plant and Equipment [Line Items]
Number of computers acquired		4,000
Value of computers acquired		$ 6,300
Bitmain [Member] | Miners received at Company's Oklahoma City facility [Member]
Property, Plant and Equipment [Line Items]
Number of computers acquired		3,000	1,000
Value of computers acquired			$ 1,400
Miners [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	14,406	$ 5,010
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment		38
Office and computer equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	$ 83	$ 103

Property and Equipment (Sched_2

Property and Equipment (Schedule of Purchase Agreement Commitments, Deposits Paid and Expected Delivery Timing) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Purchase Commitment	$ 72,321
Deposits paid	$ 33,093
Agreement Date One [Member]
Property, Plant and Equipment [Line Items]
Agreement Date	August 12, 2020	[1]
Purchase Commitment	$ 17,428
Deposits paid	$ 13,071
Expected Shipping	First Quarter 2021
Agreement Date Two [Member]
Property, Plant and Equipment [Line Items]
Agreement Date	August 25, 2020	[1]
Purchase Commitment	$ 11,110
Deposits paid	$ 5,773
Expected Shipping	First - Second Quarter 2021
Agreement Date Three [Member]
Property, Plant and Equipment [Line Items]
Agreement Date	September 30, 2020	[1]
Purchase Commitment	$ 6,094
Deposits paid	$ 6,124
Expected Shipping	First Quarter 2021
Agreement Date Four [Member]
Property, Plant and Equipment [Line Items]
Agreement Date	December 18, 2020 (1 of 2)	[1]
Purchase Commitment	$ 26,308
Deposits paid	$ 2,631
Expected Shipping	Third - Fourth Quarter 2021
Agreement Date Five [Member]
Property, Plant and Equipment [Line Items]
Agreement Date	December 18, 2020 (2 of 2)	[1]
Purchase Commitment	$ 8,577
Deposits paid	$ 4,289
Expected Shipping	Second - Third Quarter 2021
Other contracts and costs [Member]
Property, Plant and Equipment [Line Items]
Purchase Commitment	$ 2,804
Deposits paid	$ 1,205
[1]	Pursuant to the Company’s agreements with Bitmain, the Company is responsible for all shipping charges incurred in connection with the delivery of the miners.

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 10, 2019	Feb. 28, 2018	Oct. 31, 2017	Sep. 30, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 20, 2020
Business Acquisition [Line Items]
Minority interest						$ 90
Shares issued, value					$ 257,472	23,829
Impairment of intangible assets						700
Common Stock [Member]
Business Acquisition [Line Items]
Shares issued					1,492,487
Shares issued, value					$ 2,900
Shares issued price per share									$ 1.94
Tess Inc [Member]
Business Acquisition [Line Items]
Amount of Investment								$ 300
Ownership percentage	8.80%							52.00%
Shares issued, value					100	100	$ 500
Research and development expense								$ 700
Intangibles							600
Impairment of intangible assets							2,100
Tess Inc [Member] | Capitalized cost [Member]
Business Acquisition [Line Items]
Impairment of intangible assets							600
Tess Inc [Member] | Goodwill [Member]
Business Acquisition [Line Items]
Impairment of intangible assets							800
Tess Inc [Member] | Research and Development Expense [Member]
Business Acquisition [Line Items]
Impairment of intangible assets							$ 700
Tess Inc [Member] | Minimum [Member]
Business Acquisition [Line Items]
Ownership percentage							52.01%
Tess Inc [Member] | Maximum [Member]
Business Acquisition [Line Items]
Ownership percentage							50.20%
Tess Inc [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Shares issued	23,800,000		75,000				189,000	75,000
Shares issued, value			$ 600				$ 220
Shares issued price per share			$ 8.49
Resale of shares								25,000
Shares exchanged								2,708,333
Canada, Dollars [Member] | Tess Inc [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Shares issued, value	$ 1,200
Coinsquare [Member]
Business Acquisition [Line Items]
Minority interest		$ 9,400		$ 9,400
Percentage owned		11.70%
Impairment expense					$ 9,400
Percentage of impairment of investments					100.00%
Coinsquare [Member] | Canada, Dollars [Member]
Business Acquisition [Line Items]
Penalties and costs related to investment					$ 2,200

Investments (Verady) (Details)

Investments (Verady) (Details) - Convertible Note [Member] - Verady, LLC [Member] - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2017	Dec. 31, 2019
Investment in Convertible note	$ 0.2
Investment Maturity date	Dec. 31, 2022
Investment Interest rate	6.00%
Automatic conversion of Company's convertible note plus accrued interest		$ 0.2
Percentage owned		3.20%

Investments (Schedule of Long-T

Investments (Schedule of Long-Term Investments) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2018	Sep. 30, 2017	Dec. 31, 2020	Dec. 31, 2019
Balance at January 1			$ 9,723	$ 9,613
Investment in tess				90
Accrued interest on convertible note				20
Impairment of long-term investment			9,413
Balance at December 31			310	9,723
Verady [Member]
Balance at January 1			220	200
Investment in tess
Accrued interest on convertible note				20
Impairment of long-term investment
Balance at December 31			220	220
Tess [Member]
Balance at January 1			90
Investment in tess				90
Accrued interest on convertible note
Impairment of long-term investment
Balance at December 31			90	90
Coinsquare [Member]
Balance at January 1			9,413	9,413
Investment in tess	$ 9,400	$ 9,400
Accrued interest on convertible note
Impairment of long-term investment			(9,413)
Balance at December 31				$ 9,413

Investments (Schedule of Fair v

Investments (Schedule of Fair value shares) (Details) - Tess Inc [Member] $ / shares in Units, $ in Thousands	Apr. 10, 2019USD ($)$ / sharesshares
Tess shares held by Riot Blockchain, Inc. | shares	2,708,333
Per share fair value | $ / shares	$ 0.03
Fair value of Tess shares held by Riot Blockchain, Inc. | $	$ 90

Investments (Schedule of Calcul

Investments (Schedule of Calculation of Gain on Deconsolidation of Tess) (Details) - USD ($) $ in Thousands	Apr. 10, 2019	Dec. 31, 2020	Dec. 31, 2019
Current assets		$ 236,265	$ 12,628
Less:
Net liabilities		(3,076)	(4,145)
Gain on deconsolidation of Tess			$ 1,139
Tess Inc [Member]
Current assets	$ 130
Less:
Accounts payable	761
Accrued expenses	275
Convertiable notes	1,696
Net liabilities	(2,602)
Non-controlling interest share	1,553
Sub-total	(1,048)
Less: fair value of shares owned by Riot Blockchain	90
Gain on deconsolidation of Tess	$ (1,139)

Long-Term Assets (Schedule of C

Long-Term Assets (Schedule of Carrying Amounts Related to Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-term Assets Schedule Of Carrying Amounts Related To Acquired Intangible Assets
Patents	$ 713	$ 1,157
Accumulated amortization	(377)	(698)
Patents, net	$ 336	$ 459

Long-Term Assets (Schedule of T

Long-Term Assets (Schedule of Total Estimated Amortization of Intangible Assets) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)	Feb. 29, 2020
Future amortization
2021	$ 86
2022	86
2023	86
2024	78
Total	336	$ 459
Amortization expense of intangible assets	167	$ 86
Patents [Member]
Future amortization
Write-off costs	$ 50
Bitmain S17 Pro Antminers from Bitmain [Member]
Future amortization
Number of computers acquired		4,000		1,000
Value of computers acquired		$ 6,300
Deposits		$ 1,400
S17 Pro miners [Member]
Future amortization
Number of computers acquired	4,000	1,000
Bitmain S17 Pro Antminers from Bitmain One [Member]
Future amortization
Number of computers acquired		3,000
Bitmain S19 Pro and S19j Pro Antminers from Bitmain [Member]
Future amortization
Number of computers acquired	33,646
Value of computers acquired	$ 76,100
Deposits	$ 31,900
Miners description	As of December 31, 2020, the Company had received 3,043 of the new miners, including all 1,040 model S19 miners and 2,003 model S19-Pro miners, but had not yet received 30,603 of the new miners, including 18,603 model S19-Pro miners and all 12,000 model S19j-Pro miners.
Bitmain S19 Pro and S19j Pro Antminers from Bitmain [Member] | Subsequent Event [Member]
Future amortization
Value of computers acquired			$ 37,600
Agreement with Bitmain for acquisition of S19 Antiminers [Member]
Future amortization
Number of computers acquired	3,043
Value of computers acquired	$ 6,600

Notes, Warrants and Other Obl_2

Notes, Warrants and Other Obligations (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended
	Jun. 27, 2019	Jan. 31, 2019	Jan. 28, 2019	Feb. 21, 2018	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Cash released							$ 255
Conversion of notes into shares	1,813,500
Fair value of conversion of shares							10,226
Gain on extinguishment of debt							854
Restricted Stock [Member]
Debt Instrument [Line Items]
Stock issued during period		150,000
Senior Secured Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Fair value of notes			$ 6,300
Upfront costs and fees							$ 400
Conversion of notes into shares							1,813,500
Fair value of conversion of shares					$ 3,900		$ 10,200
Senior Secured Convertible Promissory Notes [Member] | Restricted Stock [Member]
Debt Instrument [Line Items]
Stock issued during period							150,000
Senior Secured Convertible Promissory Notes [Member] | Investors [Member]
Debt Instrument [Line Items]
Conversion price			$ 2
Percentage of lowest volume-weighted adjusted price of shares			80.00%
Exercise price			$ 1.94
Debt instrument face amount		$ 3,400	$ 3,400
Percentage amount of shares issuable upon full conversion of Notes			300.00%
Warrant issued		1,908,144	1,908,144
Senior Secured Convertible Promissory Notes [Member] | Investors [Member] | Restricted Stock [Member]
Debt Instrument [Line Items]
Stock issued during period			150,000
Senior Secured Convertible Promissory Notes [Member] | Investors [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage of number of shares issuable			19.99%
Percentage of beneficial ownership of shares			9.99%
Senior Secured Convertible Promissory Notes [Member] | Investors [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of beneficial ownership of shares			4.99%
Senior Secured Convertible Promissory Notes [Member] | Private Financing [Member]
Debt Instrument [Line Items]
Debt instrument face amount			$ 3,000
BMSS Purchase Agreement [Member]
Debt Instrument [Line Items]
Debt instrument face amount	$ 1,300
Purchase cost				$ 8,500
Gain on extinguishment of debt	400
One time settlement amount	$ 1,000
Settlement with certain creditors [Member]
Debt Instrument [Line Items]
Gain on extinguishment of debt							$ 500
Value of liabilities settled with certain creditors							2,100
Cash payment made to settle liabilities with certain creditors							$ 1,600

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 12, 2020	Oct. 15, 2020	Jan. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Aug. 20, 2020	Nov. 03, 2017
Class of Stock [Line Items]
Proceeds from issuance of common stock				$ 264,727	$ 24,825
Proceeds from sale of common stock				257,472	$ 23,829
Restricted Stock [Member]
Class of Stock [Line Items]
Proceeds from issuance of common stock				$ 450
Stock issued during period			150,000
Vested restricted stock units				2,435,553	58,772
Share price			$ 1.70
Accelerated vesting number under share based arrangement				471,544
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 commons shares held in escrow voided and cancelled				200,000
Members of our board of directors and an employee of Company [Member] | Restricted Stock [Member]
Class of Stock [Line Items]
Stock issued during period				2,048,096
Number of shares held to cover withholding taxes related to the settlement of restricted stock units				193,881
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding				4,199	4,199
Conversion of stock shares converted into common stock					8,801
Common Stock [Member]
Class of Stock [Line Items]
Stock issued during period				1,492,487
Proceeds from sale of common stock				$ 2,900
Issuance of common stock shares exercised				1,492,487
Shares of restricted common stock issued				122,377
Purchase price						$ 1.94
Issuance in connection with conversion of notes payable					1,813,500
Common Stock [Member] | 2017 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Stock issued during period					239,751
Common Stock [Member] | Employees [Member]
Class of Stock [Line Items]
Value of previously accrued compensation to executive, settled through issuance of common stock				$ 175
Common Stock [Member] | Consultant and advisory board members [Member]
Class of Stock [Line Items]
Stock issued during period				40,634
Common Stock [Member] | Consultant and advisory board members [Member] | 2017 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Stock issued during period					48,500
Fair value of restricted stock					$ 2,200
Share price					$ 1.41
Common Stock [Member] | Advisory board members and employees [Member] | 2019 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Stock issued during period					1,493,832
Common Stock [Member] | 2019 ATM Offering [Member] | H.C. Wainwright [Member]
Class of Stock [Line Items]
Proceeds from issuance of common stock					$ 23,800
Stock issued during period				4,433,468	8,351,762
Commision paid					$ 1,000
Weighted average price				$ 19.13	$ 2.97
Maximum amount of sales shares				$ 100,000
Common Stock [Member] | 2020 ATM Offering [Member] | H.C. Wainwright [Member]
Class of Stock [Line Items]
Proceeds from issuance of common stock				$ 2,575,000
Stock issued during period				49,932,051
Commision paid				$ 7,300,000
Weighted average price				$ 5.30
Maximum amount of sales shares	$ 200,000	$ 100,000
Percentage of commission	3.00%	3.00%
Number of cumulatively sold shares		30.6
Gross proceeds		$ 74,000
Common Stock [Member]
Class of Stock [Line Items]
Stock issued during period				49,932,051	8,351,762
Proceeds from sale of common stock				$ 257,472	$ 23,829
Kairos Global Technology, Inc [Member] | Common Stock [Member]
Class of Stock [Line Items]
Conversion price							$ 6.80
Preferred stock stated value per share							$ 6.80
Number of shares of common stock issuable upon conversion							1,750,001

Stock Options, Warrants and R_3

Stock Options, Warrants and Restricted Common Stock (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 0.2
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	5 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
2019 Equity Incentive Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved under the Plan		4,061,809

Stock Options, Warrants and R_4

Stock Options, Warrants and Restricted Common Stock (Other Common Stock Purchase Warrants) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants issued	1,492,487
Number of warrants exercised	1,492,487
Proceeds from common stock warrants	$ 2.9
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants to purchase common stock	1,908,144
Exercise price	$ 1.94
Number of warrants issued	1,257,235
Number of warrants exercised	543,686
Nonqualified [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding	2,061,770	3,574,257	1,671,113

Stock Options, Warrants and R_5

Stock Options, Warrants and Restricted Common Stock (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 3,407	$ 745
Restricted stock awards under Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	3,407	687
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_6

Stock Options, Warrants and Restricted Common Stock (Schedule of Restricted Stock Activity) (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of Shares
Beginning balance	1,524,499	95,939
Vested	(2,435,553)	(58,772)
Granted	1,544,359	1,542,332
Forfeited		(55,000)
Ending balance	633,305	1,524,499
Weighted Average Grant Date Fair value
Beginning balance	$ 1.37	$ 12.49
Vested	1.34	7.66
Granted	1.27	1.41
Forfeited		14.95
Ending balance	$ 1.27	$ 1.37

Stock Options, Warrants and R_7

Stock Options, Warrants and Restricted Common Stock (Schedule of Award Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Incentive Plan [Member]
Shares Underlying Options/Warrants
Outstanding, beginning	12,000	62,000
Granted
Exercised
Forfeited		(50,000)
Outstanding and Exercisable, ending		12,000	62,000
Exercisable at December 31, 2020	12,000
Weighted Average Exercise Price
Outstanding, beginning	$ 4.09	$ 15.71
Granted
Exercised
Forfeited		18.50
Outstanding and Exercisable, ending		$ 4.09	$ 15.71
Exercisable at December 31, 2020	$ 4.09
Weighted Average Remaining Contractual Term
Outstanding and Exercisable		3 years 8 months 12 days	9 years 2 months 12 days
Exercisable at December 31, 2020	2 years 8 months 12 days
Aggregate Intrinsic Value
Outstanding and Exercisable	$ 155
Nonqualified [Member]
Shares Underlying Options/Warrants
Outstanding, beginning	3,574,257	1,671,113
Granted		1,908,144
Exercised	(1,492,487)
Forfeited	(20,000)	(5,000)
Outstanding and Exercisable, ending	2,061,770	3,574,257	1,671,113
Weighted Average Exercise Price
Outstanding, beginning	$ 19.48	$ 39.47
Granted		1.94
Exercised	1.94
Forfeited	3.50	7.90
Outstanding and Exercisable, ending	$ 32.33	$ 19.48	$ 39.47
Weighted Average Remaining Contractual Term
Outstanding and Exercisable	1 year 1 month 6 days	2 years 10 months 24 days	2 years
Issued		5 years 2 months 12 days
Aggregate Intrinsic Value
Outstanding and Exercisable	$ 6,256

Animal Health License Agreeme_2

Animal Health License Agreements (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2012	Dec. 31, 2020	Dec. 31, 2019
Animal Health License Agreements [Abstract]
Deferred revenue		$ 97	$ 97
Deferred revenue, noncurrent		679	776
Recognition of license fee revenue	$ 1,600	$ 100	$ 100

Income taxes (Narrative) (Detai

Income taxes (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 210.6
Increase (decrease) in deferred tax asset valuation allowance	9.7
Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 110.3
Maximum [Member] | Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards, expiration date	Dec. 31, 2037

Income taxes (Schedule of Compo

Income taxes (Schedule of Components of Loss From Continuing Operations by Domestic and Foreign Jurisdictions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ (12,667)	$ (20,446)
Foreign
Loss from continuing operations before income taxes	$ 12,667	$ (20,446)

Income taxes (Schedule of Com_2

Income taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current:
US Federal
US State
Foreign
Total current benefit
Deferred:
US Federal		117
US State		26
Foreign
Total deferred benefit		143
Total benefit for income taxes		$ 143

Income taxes (Schedule of Defer

Income taxes (Schedule of Deferred Tax Assets and (Liabilities)) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
Net operating loss carryforwards	$ 51,938	$ 43,436
Research and development credit carryforwards	1,063	989
Stock option expense	1,253	1,095
Impairment of mining related assets and other	803	(146)
Total deferred tax assets	55,057	45,374
Valuation allowance	(55,057)	(45,374)
Net deferred tax assets
Deferred income tax liabilities:
Net deferred tax liabilities			$ (143)

Income taxes (Reconciliation of

Income taxes (Reconciliation of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Statutory federal income tax expense (benefit)	$ (2,660)	$ (4,293)
State taxes, net of federal tax expense (benefit)	(471)	(664)
Stock compensation	(45)	1,142
Tax return to provision true-up	(8,737)
State tax rate change	2,231
Other		195
Change in valuation allowance	9,682	3,477
Income taxes benefit		$ (143)

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details)	Apr. 09, 2018ft²	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2017USD ($)shares	Jun. 30, 2020USD ($)	Dec. 31, 2018USD ($)	Feb. 27, 2018ft²
Operating Leased Assets [Line Items]
Proceeds from sale of common stock		$ 257,472,000	$ 23,829,000
Contingent liability						$ 1,358,000
December 2017 Private Placement [Member]
Operating Leased Assets [Line Items]
Proceeds from sale of common stock				$ 37,000,000
Stock issued during period | shares				1,646,113
Warrants to purchase common stock | shares				1,646,113
OKC Lease [Member]
Operating Leased Assets [Line Items]
Lease deposit					$ 700,000
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
Kairos Global Technology, Inc [Member]
Operating Leased Assets [Line Items]
Area of lease | ft²							107,600
Monthly base rent owed for January 2019		230,000
Monthly base rent owed for all remaining periods thereafter for the duration of the lease, including any renewals		$ 190,000
Rent expense			$ 5,600,000

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lease cost
Operating lease cost	$ 1,240	$ 2,378
Variable lease cost	1,040	3,200
Operating lease expense	2,280	5,578
Short-term lease rent expense	20	17
Total rent expense	2,300	5,595
Other information
Operating cash flows from operating leases	1,207	2,377
Right of use assets exchanged for new operating lease liabilities		$ 2,664
Weighted-average remaining lease term - operating leases		6 months
Weighted-average discount rate - operating leases		10.00%

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	Feb. 08, 2021USD ($)shares	Jan. 31, 2021USD ($)$ / shares	Jan. 31, 2019$ / sharesshares	Mar. 31, 2021shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Oct. 31, 2021USD ($)	Mar. 11, 2021USD ($)	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Proceeds from the sale of stock | $					$ 264,727	$ 24,825
Proceeds from sale of common stock | $					$ 257,472	23,829
Number of warrants issued					1,492,487
Number of warrants exercised					1,492,487
Value of shares registered | $					$ 277,071	$ 26,235			$ 4,491
Series B Preferred Stock [Member]
Subsequent Event [Line Items]
Conversion of stock shares converted into common stock						8,801
Leaving shares outstanding					2,199
Common Stock [Member]
Subsequent Event [Line Items]
Stock issued during period					1,492,487
Proceeds from sale of common stock | $					$ 2,900
Issuance of common stock shares exercised					1,492,487
Restricted Stock [Member]
Subsequent Event [Line Items]
Proceeds from the sale of stock | $					$ 450
Stock issued during period			150,000
Share price | $ / shares			$ 1.70
Restricted options granted					1,544,359	1,542,332
Restricted Stock [Member] | Subsequent to December 31, 2020 [Member]
Subsequent Event [Line Items]
Proceeds from the sale of stock | $					$ 300
Number of shares held to cover withholding taxes related to the settlement of restricted stock units					40,250
Warrant [Member]
Subsequent Event [Line Items]
Number of warrants issued					1,257,235
Number of warrants exercised					543,686
Warrant [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Stock issued during period					415,657
Proceeds from sale of common stock | $					$ 800
Issuance of common stock shares exercised					415,657
H.C. Wainwright [Member] | Common Stock [Member] | 2019 ATM Offering [Member]
Subsequent Event [Line Items]
Proceeds from the sale of stock | $						$ 23,800
Stock issued during period					4,433,468	8,351,762
Value of shares registered | $					$ 200
Members of our board of directors and an employee of Company [Member] | Restricted Stock [Member]
Subsequent Event [Line Items]
Stock issued during period					2,048,096
Number of shares held to cover withholding taxes related to the settlement of restricted stock units					193,881
Members of our board of directors and an employee of Company [Member] | Restricted Stock [Member] | Subsequent to December 31, 2020 [Member]
Subsequent Event [Line Items]
Stock issued during period					242,645
Subsequent Event [Member]
Subsequent Event [Line Items]
Restricted options granted				41,440
Vesting period				1 year
Subsequent Event [Member] | Model S19j (90TH/s) Antminers [Member]
Subsequent Event [Line Items]
Number of computers acquired							1,500	1,500
Value of computers acquired | $							$ 3,600	$ 7,300
Subsequent Event [Member] | Executive Employment Agreement [Member] | Chief Executive Officer [Member]
Subsequent Event [Line Items]
Term of employment	Mr. Les has agreed to serve as the Company’s CEO for a five (5) year term, which renews for successive one (1) year terms after the expiration of the initial term.
Annual salary | $	$ 240,000
Number of bitcoins	ten (10) bitcoin
Restricted options granted	25,000
Vesting period	vest in four (4) equal quarterly installments
Subsequent Event [Member] | Executive Employment Agreement [Member] | Chief Financial Officer [Member]
Subsequent Event [Line Items]
Annual salary | $	$ 360,000
Restricted options granted	20,000
Vesting period	vest in four (4) equal quarterly installments.
Subsequent Event [Member] | H.C. Wainwright [Member]
Subsequent Event [Line Items]
Proceeds from the sale of stock | $		$ 84,800
Share price | $ / shares		$ 19.13