Riot Blockchain (RIOT) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Document Information Line Items
Entity Registrant Name	Riot Blockchain, Inc.
Trading Symbol	RIOT
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		127,033,283
Amendment Flag	false
Entity Central Index Key	0001167419
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-33675
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	84-1553387
Entity Address, Address Line One	3855 Ambrosia Street
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	Castle Rock
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80109
City Area Code	(303)
Local Phone Number	794-2000
Title of 12(b) Security	Common Stock, no par value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 113,581	$ 312,315
Accounts receivable	16,019	15,398
Costs and estimated earnings in excess of billings	11,058	9,862
Prepaid expenses and other current assets	20,958	7,135
Cryptocurrencies	189,634	159,544
Future power credits, current portion	79,261	58,481
Investments in marketable equity securities, at fair value	9,193	10,804
Total current assets	439,704	573,539
Property and equipment, net	325,132	262,980
Deposits	330,360	266,170
Intangible assets, net	13,723	14,162
Goodwill	349,148	349,063
Derivative asset	69,762	26,079
Right of use assets	21,616	13,189
Future power credits, less current portion		25,447
Other long-term assets	310	310
Total assets	1,549,755	1,530,939
Current liabilities
Accounts payable	11,269	20,037
Billings in excess of costs and estimated earnings	4,963	5,264
Accrued compensation	2,629	5,927
Accrued expenses	13,801	16,144
Deferred revenue, current portion	2,747	2,843
Contingent consideration liability - future power credits, current portion	79,261	58,481
Operating lease liability, current portion	1,507	1,182
Total current liabilities	116,177	109,878
Deferred revenue, less current portion	19,328	19,796
Operating lease liability, less current portion	20,346	12,256
Contingent consideration liability - future power credits, less current portion		25,447
Other long-term liabilities	6,220	6,242
Total liabilities	162,071	173,619
Commitments and contingencies - Note 16
Stockholders' equity
Preferred stock, no par value, 15,000,000 shares authorized:
2% Series A Convertible stock, 2,000,000 shares authorized; no shares issued and outstanding as of March 31, 2022 and December 31, 2021
0% Series B Convertible stock, 1,750,001 shares authorized; no shares issued and outstanding as of March 31, 2022 and 2,199 shares issued and outstanding as of December 31, 2021, liquidation preference over common stock, equal to carrying value		11
Common stock, no par value; 170,000,000 shares authorized; 117,304,304 and 116,748,472 shares issued and outstanding as of March 31, 2022 and December 31, 2021	1,589,893	1,595,147
Accumulated deficit	(202,209)	(237,838)
Total stockholders' equity	1,387,684	1,357,320
Total liabilities and stockholders' equity	$ 1,549,755	$ 1,530,939

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	15,000,000	15,000,000
Common stock, par value (in Dollars per share)
Common stock, shares authorized	170,000,000	170,000,000
Common stock, shares issued	117,304,304	116,748,472
Common stock, shares outstanding	117,304,304	116,748,472
2% Series A Convertible Stock
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
0% Series B Convertible Stock
Preferred stock, shares authorized	1,750,001	1,750,001
Preferred stock, shares issued		2,199
Preferred stock, shares outstanding		2,199

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 79,787	$ 23,197
Cost of revenues (exclusive of depreciation and amortization shown below)
Selling, general and administrative	10,910	5,462
Depreciation and amortization	14,245	2,846
Change in fair value of derivative asset	(46,235)
Change in fair value of contingent consideration	176
Realized gain on sale/exchange of cryptocurrencies	(9,236)
Impairment of cryptocurrencies	26,390
Total costs and expenses	41,878	15,842
Operating income	37,909	7,355
Other income (expense):
Interest and other income (expense)	(357)	175
Unrealized loss on marketable equity securities	(1,611)
Total other income (expense)	(1,968)	175
Net income before taxes	35,941	7,530
Current income tax expense	(312)
Net income	$ 35,629	$ 7,530
Basic net income per share (in Dollars per share)	$ 0.3	$ 0.09
Diluted net income per share (in Dollars per share)	$ 0.3	$ 0.09
Basic weighted average number of shares outstanding (in Shares)	117,042,347	83,163,400
Diluted weighted average number of shares outstanding (in Shares)	117,042,347	83,712,151
Revenue, net - mining
Revenue:
Total revenue	$ 57,945	$ 23,173
Revenue, net - hosting
Revenue:
Total revenue	9,694
Revenue, net - engineering
Revenue:
Total revenue	12,124
Other revenue
Revenue:
Total revenue	24	24
Mining
Cost of revenues (exclusive of depreciation and amortization shown below)
Cost of revenues	19,094	7,534
Hosting
Cost of revenues (exclusive of depreciation and amortization shown below)
Cost of revenues	14,985
Engineering
Cost of revenues (exclusive of depreciation and amortization shown below)
Cost of revenues	$ 11,549

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Preferred Stock	Common Stock	Accumulated deficit	Total
Balance at Dec. 31, 2020	$ 22	$ 506,961	$ (229,912)	$ 277,071
Balance (in Shares) at Dec. 31, 2020	4,199	78,523,517
Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement		$ (1,206)		(1,206)
Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement (in Shares)		202,395
Issuance of common stock related to exercise of warrants		$ 806		806
Issuance of common stock related to exercise of warrants (in Shares)		415,657
Issuance of common stock for settlement of 1,257,235 warrants on a cashless basis
Issuance of common stock for settlement of 1,257,235 warrants on a cashless basis (in Shares)		543,686
Issuance of common stock/At-the-market offering, net of offering costs of $2.1 million		$ 82,680		82,680
Issuance of common stock/At-the-market offering, net of offering costs of $2.1 million (in Shares)		4,433,468
Conversion of preferred stock to common stock	$ (11)	$ 11
Conversion of preferred stock to common stock (in Shares)	(2,000)	2,000
Stock-based compensation		$ 936		936
Net income			7,530	7,530
Balance at Mar. 31, 2021	$ 11	$ 590,188	(222,382)	367,817
Balance (in Shares) at Mar. 31, 2021	2,199	84,120,723
Balance at Dec. 31, 2021	$ 11	$ 1,595,147	(237,838)	1,357,320
Balance (in Shares) at Dec. 31, 2021	2,199	116,748,472
Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement		$ (8,307)		(8,307)
Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement (in Shares)		553,633
Conversion of preferred stock to common stock	$ (11)	$ 11
Conversion of preferred stock to common stock (in Shares)	(2,199)	2,199
Stock-based compensation		$ 3,042		3,042
Net income			35,629	35,629
Balance at Mar. 31, 2022		$ 1,589,893	$ (202,209)	$ 1,387,684
Balance (in Shares) at Mar. 31, 2022		117,304,304

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (Parentheticals) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)shares
Statement of Stockholders' Equity [Abstract]
Warrants on a cashless basis | shares	1,257,235
Net of offering costs | $	$ 2.1

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 35,629	$ 7,530
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation	3,042	936
Depreciation and amortization	14,245	2,846
Amortization of license fee revenue	(24)	(24)
Amortization of right of use assets	357
Income tax expense	312
Impairment of cryptocurrencies	26,390
Change in fair value of derivative asset	(43,683)
Change in fair value of contingent consideration	176
Realized gain on sale/exchange of cryptocurrencies	(9,236)
Unrealized loss on marketable equity securities	1,611
Cryptocurrencies - mining, net	(56,662)	(22,941)
Changes in assets and liabilities:
Proceeds from sale of cryptocurrencies	9,418
Accounts receivable	(621)
Costs and estimated earnings in excess of billings	(1,196)
Prepaid expenses and other current assets	(13,817)	628
Future power credits	4,667
Accounts payable	(8,768)	2,186
Billings in excess of costs and estimated earnings	(301)
Accrued compensation	(3,298)
Accrued expenses	(2,628)	2,850
Customer deposits	(22)
Deferred revenue	(540)
Lease liability	(369)
Net cash used in operating activities	(45,318)	(5,989)
Cash flows from investing activities
Deposits on equipment	(103,161)	(56,353)
Purchases of property and equipment, including construction in progress	(37,079)	(2,270)
Patent costs incurred	(26)	(38)
Net cash used in investing activities	(140,266)	(58,661)
Cash flows from financing activities
Proceeds from the issuance of common stock / At-the-market offering		84,817
Offering costs for the issuance of common stock / At-the-market offering		(2,137)
Proceeds from exercise of common stock warrants		806
Payments on contingent consideration liability	(4,843)
Repurchase of common shares to pay employee withholding taxes	(8,307)	(1,206)
Net cash (used in) provided by financing activities	(13,150)	82,280
Net (decrease) increase in cash and cash equivalents	(198,734)	17,630
Cash and cash equivalents at beginning of period	312,315	223,382
Cash and cash equivalents at end of period	113,581	241,012
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for taxes
Supplemental disclosure of noncash investing and financing activities:
Reclassification of deposits to property and equipment	38,965	18,716
Conversion of preferred stock to common stock	11	11
Construction in progress included in accrued expenses	$ 946

Organization and Operation of O

Organization and Operation of Our Business	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Organization and Operation of Our Business	Note 1. Organization and Operation of Our Business Nature of Operations: We are a vertically integrated Bitcoin mining company principally engaged in enhancing our capabilities to mine Bitcoin. We also provide the critical mining infrastructure for our institutional-scale hosted clients to mine Bitcoin at our Bitcoin mining facility in Rockdale, Texas (the “Whinstone Facility”), and are beginning development of a second large-scale Bitcoin mining data center facility in Corsicana, Texas (the “Corsicana Facility”), which is expected to have approximately one gigawatt (“GW”) of capacity for both our Bitcoin mining operations and to host institutional-scale Bitcoin mining and data center clients. Our Whinstone Facility is believed to be the largest Bitcoin mining facility in North America, as measured by developed capacity, and we are currently expanding its capacity and developing our new Corsicana Facility to expand our institutional-scale Bitcoin mining capacity. We operate in an environment which is consistently evolving based on the proliferation of Bitcoin and cryptocurrencies in general. A significant component of our strategy is to effectively and efficiently allocate capital between opportunities that generate the highest return on our capital. As described in Note 17. “Segment Information” to these unaudited Notes to Condensed Consolidated Financial Statements, we operate in three business segments: (1) Bitcoin Mining (“Mining”), (2) Data Center Hosting (“Hosting”), and (3) Electrical Products and Engineering (“Engineering”).

Liquidity and Financial Conditi

Liquidity and Financial Condition	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity and Financial Condition	Note 2. Liquidity and Financial Condition At March 31, 2022, the Company had approximate balances of cash and cash equivalents of $113.6 million, working capital of $323.5 million, total stockholders’ equity of $1.4 billion and an accumulated deficit of $202.2 million. To date, the Company has, in large part, relied on equity financings to fund its operations. In March 2022, the Company sold 200 Bitcoin for proceeds of approximately $9.4 million, which was the Company’s first sale since 2020. The Company is monitoring its balance sheet on an ongoing basis, evaluating the level of Bitcoin retained from monthly production in consideration of operational and expansion cash requirements. The Company continues to hold a long-term view on its Bitcoin holdings and believes it is in the best interest of its stockholders to have Bitcoin on its balance sheet. The Company believes its current cash and Bitcoin on hand is sufficient to meet its operating and capital requirements for at least the next year from the date these unaudited condensed consolidated financial statements are issued. During the three months ended March 31, 2022, the Company paid approximately $103.2 million as deposits primarily for miners and as of March 31, 2022, reclassified $39.0 million to property and equipment in connection with the deployment of miners at the Whinstone Facility. During the three months ended March 31, 2022, the Company received 6,894 miners at the Whinstone Facility. 2022 ATM Offering: The Company entered into a Sales Agreement with Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, D.A. Davidson & Co., Macquarie Capital (USA) Inc., and Northland Securities, Inc. (the “Sales Agents”) dated March 31, 2022 (the “Sales Agreement”), pursuant to which the Company may, from time to time, sell up to $500 million in shares of the Company’s common stock through the Sales Agents, acting as the Company’s sales agent and/or principal, in a continuous at-the-market offering (the “2022 ATM Offering”). The Company will pay the Sales Agents a commission of up to 3.0% of the aggregate gross proceeds the Company receives from all sales of the Company’s common stock under the Sales Agreement. As of March 31, 2022, the Company had not received any proceeds from the 2022 ATM Offering. Subsequent to March 31, 2022, and as of the date of this filing, the Company received net proceeds on sales of 9.9 million shares of common stock under the Sales Agreement of approximately $140.3 million (after deducting $29 million in commissions and expenses) at a weighted average price of $14.44. COVID-19: The COVID-19 global pandemic has been unprecedented and unpredictable; its impact is likely to continue to result in significant national and global economic disruption, which may adversely affect our business. Based on our current assessment, however, we do not expect any material impact on our long-term development, our operations, or our liquidity due to the worldwide spread of COVID-19, other than the potential impacts of COVID-19 on global logistics discussed below. We are actively monitoring this situation and the possible effects on our financial condition, liquidity, operations, suppliers, and industry. Global Logistics: Global supply logistics have caused delays across all channels of distribution. Similarly, we have also experienced delays in certain of our miner delivery schedules and in our infrastructure development schedules due to constraints on the globalized supply chains for miners, electricity distribution equipment and construction materials. Through the date of this Quarterly Report, we have been able to effectively mitigate any delivery delays to avoid materially impacting our miner deployment schedule, however, there are no assurances we will be able to continue to mitigate any such delivery delays in the future. Additionally, the expansion of the Whinstone Facility and the development of our new Corsicana Facility requires large quantities of construction materials, specialized electricity distribution equipment and other component parts that can be difficult to source. We have procured and hold many of the required materials to help mitigate against global supply logistic and pricing concerns. We monitor developments in the global supply chain and how that may potentially impact our expansion plans. See the discussion under the heading “Risk Factors” in Part II, Item 1A of this Quarterly Report and under Part I, Item 1A of the 2021 Annual Report for additional discussion regarding potential impacts the global supply chain crisis may have on our operations and plans for expansion.

Basis of Presentation, Summary

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	Note 3. Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements Basis of Presentation and Principles of Consolidation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of such interim results. Amounts are in thousands except for share, per share and miner amounts. The results for the unaudited condensed consolidated statements of operations are not necessarily indicative of results to be expected for the fiscal year ending December 31, 2022 or for any future interim period. The unaudited condensed consolidated financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2021 and notes thereto included in the Company’s 2021 Annual Report on Form 10-K filed with the SEC on March 16, 2022. Reclassifications: Certain prior period amounts have been reclassified to conform to the current period presentation in the consolidated financial statements and these accompanying notes. The reclassifications did not have a material impact on the Company's unaudited condensed consolidated financial statements and related disclosures. The impact on any prior period disclosures was immaterial. Use of Estimates: The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. The most significant accounting estimates inherent in the preparation of the Company’s unaudited condensed consolidated financial statements include estimates associated with valuing contingent consideration for a business combination and periodic reassessment of its fair value, allocating the fair value of purchase consideration to assets acquired and liabilities assumed in business acquisitions, revenue recognition, valuing the derivative asset classified under Level 3 fair value hierarchy, determining the useful lives and recoverability of long-lived assets, impairment analysis of goodwill and finite-lived intangibles, stock-based compensation, and the valuation allowance associated with the Company’s deferred tax assets. Significant Accounting Policies: For a detailed discussion about the Company’s significant accounting policies, see the Company’s December 31, 2021 consolidated financial statements included in its 2021 Annual Report. Segment and Reporting Unit Information: Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The CODM is comprised of a committee of the Company’s executive officers. The Company has three operating segments as of March 31, 2022. See Note 17. “Segment Information” to these unaudited Notes to Condensed Consolidated Financial Statements. 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 Income Per Share: Basic net income per share (“EPS”) of common stock is computed by dividing net income 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 stock units (“RSUs”) and the holdback of 70,165 shares as security for the ESS Metron sellers’ indemnification obligations under the December 1, 2021 membership interest purchase agreement covering the acquisition, from the net income (loss) per share calculation. For the three months ended March 31, 2022 and 2021, the Company recorded net income and therefore, earnings per share was calculated using the treasury stock method. Dilutive potential common shares include outstanding stock options, restricted stock shares, warrants and the outstanding shares of the Company’s 0% Series B Convertible Preferred Stock (the “Series B Preferred Stock”). Potentially dilutive shares are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, restricted stock awards and warrants. Potentially dilutive shares issuable upon conversion of our Series B Preferred Stock for 2021, are calculated using the if-converted method. During the three months ended March 31, 2022, the remaining 2,199 shares of the Series B Preferred Stock outstanding as of January 1, 2022 were converted into 2,199 shares of the Company’s common stock. The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the periods presented below (in thousands except for share and per share amounts): Three Months Ended March 31, 2022 2021 Basic and diluted income per share: Net income $ 35,629 $ 7,530 Basic weighted average number of shares outstanding 117,042,347 83,163,400 Add: — Options to purchase common stock — 10,788 Warrants to purchase common stock — 530,623 Unvested restricted stock awards — 4,712 Convertible Series B preferred shares — 2,628 Diluted weighted average number of shares outstanding 117,042,347 83,712,151 Basic net income per share $ 0.30 $ 0.09 Diluted net income per share $ 0.30 $ 0.09 Recently Issued and Adopted Accounting Pronouncements: In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) 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 condensed consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s unaudited condensed consolidated financial statements properly reflect the change.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Acquisitions	Note 4. Acquisitions Acquisition of ESS Metron: On December 1, 2021, the Company acquired 100% of the equity interests of ESS Metron. ESS Metron is based in Denver, Colorado, operating from facilities totaling approximately 121,000 square feet. The facilities are subject to long-term lease agreements. The acquisition-date fair value of the total consideration transferred was comprised of $25 million of cash, adjusted for net working capital and other items, and 715,413 shares of the Company’s common stock, no par value, with a fair value of approximately $26.7 million. Of the 715,413 shares of common stock, 645,248 shares were issued upon closing, and the remaining 70,165 shares were withheld as security for the sellers’ indemnification obligations for 18 months following the transaction closing date. Other than an insignificant post-closing settlement of preliminary net working capital pursuant to the Membership Interest Purchase Agreement dated December 1, 2021, there have been no adjustments to the provisional purchase price and fair value estimates presented in Note 4. “Acquisitions” of the 2021 Annual Report. The Company expects to finalize the valuation of these assets and liabilities, and consideration transferred, as soon as practicable, but not later than one year from the acquisition date. Any changes to the preliminary estimates of the fair value of the assets acquired and liabilities assumed will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill. Acquisition of Whinstone: On May 26, 2021, the Company acquired 100% of the equity interests of Whinstone US, Inc. (“Whinstone”), the owner and operator of a Bitcoin mining and hosting facility, for approximately $460 million (the “Whinstone Acquisition”). The assets and operations of Whinstone increases the scale and scope of Riot’s operations, which is a foundational element in the Company’s strategy to become an industry-leading Bitcoin mining platform on a global scale. The acquisition-date fair value of the total consideration transferred was comprised of $80 million of cash, adjusted for net working capital and other items, and 11.8 million shares of the Company’s common stock, no par value, with a fair value of approximately $326 million. As part of cash at closing, net debt outstanding from Whinstone to its parent (Whinstone Seller) totaling approximately $38 million was repaid and certain seller transaction costs were paid. The Company also agreed to pay Seller up to approximately $86 million (undiscounted) in additional consideration if certain future power credits are realized by Whinstone. There have been no adjustments to the provisional purchase price and fair value estimates presented in Note 4. “Acquisitions”, of the 2021 Annual Report. The Company expects to finalize the valuation of these assets and liabilities, and consideration transferred, during the second quarter of 2022, but not later than one year from the Acquisition Date. Any changes to the preliminary estimates of the fair value of the assets acquired and liabilities assumed will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill. Pro Forma Information (Unaudited): The following unaudited pro forma financial information summarizes the combined results of operations for Riot, Whinstone and ESS Metron as if the companies were combined as of January 1, 2020. The unaudited pro forma information does not reflect the effect of costs or synergies that may result from the acquisition. The pro forma information excludes acquisition-related costs of $21.3 million as these costs were included in pro forma net income for the year ended December 31, 2020. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the combination occurred on January 1, 2020, or of future results of the consolidated entities. This unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of future operating results of the combined company (in thousands). Three Months Ended March 31, 2021 Total revenue $ 39,399 Net income $ 98,917

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 5. Revenue from Contracts with Customers The Company recognizes revenue when it transfers promised services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those services. Disaggregated revenue: The following table presents the Company’s revenues disaggregated into categories based on the nature of such revenues (in thousands): Schedule of Disaggregated Revenue Three Months Ended March 31, 2022 2021 Mining $ 57,945 $ 23,173 Hosting 9,694 — Engineering 12,124 — Other 24 24 Total revenue $ 79,787 $ 23,197 Contract balances: For the three months ended March 31, 2022 and 2021, the Company did not recognize material bad-debt expense. Contract assets consist of costs and estimated earnings in excess of billings on uncompleted engineering contracts. The balance was entirely from the ESS Metron acquisition and was $11.1 million and $9.9 million as of March 31, 2022 and December 31, 2021, respectively. The Company’s contract liabilities primarily relate to upfront payments and consideration received from customers for data center hosting, billings in excess of costs and estimated earnings on uncompleted engineering contracts and the upfront license fee generated from our legacy animal health business. The table below presents changes in the total deferred revenue liability and billings in excess of costs and estimated earnings, for the three months ended March 31, 2022 (in thousands): Beginning balance - January 1, 2022 $ 27,903 Revenue recognized (865 ) Ending balance - March 31, 2022 $ 27,038 Transaction price allocated to remaining performance obligations: Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. Amounts related to Bitcoin mining are not included because the Company elected the practical expedient to not disclose amounts related to contracts with a duration of one year or less. Additionally, we have elected to use the practical expedient to not adjust the transaction price for the existence of a significant financing component if the timing difference between a customer’s payment and our performance is one year or less.

Cryptocurrencies

Cryptocurrencies	3 Months Ended
	Mar. 31, 2022
Cryptocurrencies [Abstract]
Cryptocurrencies	Note 6. Cryptocurrencies The following table presents additional information about Bitcoin: Beginning balance - January 1, 2022 $ 159,544 Revenue recognized 57,945 Proceeds from sale (10,701 ) Realized gain on sale/exchange 9,236 Impairment (26,390 ) Ending balance - March 31, 2022 $ 189,634

Investments in Marketable Equit

Investments in Marketable Equity Securities	3 Months Ended
	Mar. 31, 2022
Disclosure Text Block Supplement [Abstract]
Investments in Marketable Equity Securities	Note 7. Investments in Marketable Equity Securities During the three months ended March 31, 2022, the Company recorded an unrealized loss on 3.2 million shares of Mogo Inc. of approximately $1.6 million based on the closing price per share of Mogo common stock on NASDAQ on March 31, 2022 of $2.91. The daily share price is extremely volatile and may be more or less than the amount recorded as of March 31, 2022.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 8. Property and Equipment Property and equipment: Property and equipment consisted of the following as of March 31, 2022 and December 31, 2021: Life (Years) March 31, 2022 December 31, 2021 Buildings and improvements 10-25 $ 144,230 $ 78,548 Miners and mining equipment 2 130,475 87,921 Machinery and facility equipment 5-7 15,358 12,373 Office and computer equipment 3 1,061 1,007 Construction in progress 78,374 113,598 Total cost of property and equipment 369,498 293,447 Less accumulated depreciation (44,366 ) (30,467 ) Property and equipment, net $ 325,132 $ 262,980 During the three months ended March 31, 2022, the Company received 6,894 miners related to its current purchase contracts with Bitmain and, as of March 31, 2022, had deployed a total of 42,919 miners in its mining operation. During the three months ended March 31, 2022, the Company paid approximately $103.2 million as deposits, primarily for miners, which are scheduled to be delivered on a monthly basis through December 2022. As of March 31, 2022, the Company reclassified $39.0 million to property and equipment in connection with the deployment of miners at the Whinstone Facility. During the three months ended March 31, 2022, the Company received 6,894 miners at the Whinstone Facility. During the year ended December 31, 2021, we entered into six additional purchase agreements with Bitmain to acquire 52,500 Antminer model S19j (90 Terahash per second) (“TH/s”) miners and 30,000 of their latest Antminer model S19XP (140 TH/s) miners for a combined total purchase price of approximately $535.0 million. Pursuant to these agreements, approximately $214.4 million remains payable to Bitmain in installments in advance of shipment of the miners, which is scheduled to occur on a monthly basis through December 2022. Depreciation and amortization expense related to property and equipment totaled approximately $13.9 million and $2.8 million, for the three months ended March 31, 2022 and 2021, respectively. Depreciation is computed on the straight-line basis for the periods the assets are in service. Commitment: As of March 31, 2022, the Company had outstanding executed purchase agreements for the purchase of miners from Bitmain for a total of 41,601 new S19j-Pro model miners and 30,000 new S19XP model miners, scheduled to be delivered through December 2022, and had paid a deposit of 62% of the total purchase price. 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 (in thousands): Agreement Date * Original Purchase Commitment Additional Purchases Open Purchase Commitment Deposit Balance Expected Shipping April 5, 2021 $ 138,506 $ 11,950 $ 35,488 $ 114,968 Second Quarter 2022 - Fourth Quarter 2022 October 29, 2021 56,250 — 22,500 33,750 Second Quarter 2022 - Third Quarter 2022 November 22, 2021 32,550 — 15,278 17,272 Third Quarter 2022 - Fourth Quarter 2022 December 10, 2021 97,650 — 45,833 51,817 Third Quarter 2022 - Fourth Quarter 2022 December 24, 2021 202,860 — 95,256 107,604 Third Quarter 2022 - Fourth Quarter 2022 Total $ 527,816 $ 11,950 $ 214,355 $ 325,411 * 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.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net	Note 9. Intangible Assets, net Intangible assets consisted of the following as of March 31, 2022 and December 31, 2021: Gross book value Accumulated amortization Net book value Weighted-average life (years) Customer contracts $ 6,300 $ (207 ) $ 6,093 10 Trademark 5,000 (166 ) 4,834 10 UL Listings 2,700 (75 ) 2,625 12 Patents 559 (388 ) 171 Various Intangible assets, net as of March 31, 2022 $ 14,559 $ (836 ) $ 13,723 Gross book value Accumulated amortization Net book value Weighted-average life (years) Customer contracts $ 6,300 $ (51 ) $ 6,249 10 Trademark 5,000 (42 ) 4,958 10 UL Listings 2,700 (19 ) 2,681 12 Patents 742 (468 ) 274 Various Intangible assets, net as of December 31, 2021 $ 14,742 $ (580 ) $ 14,162 The intangible assets are being amortized over their respective original useful lives, which range from 10-12 years. The Company recorded amortization expense of $0.4 million and $0.02 million for the three months ended March 31, 2022 and 2021, respectively. The estimated future amortization expense associated with intangible assets is as follows: Estimated amortization expense For the nine months ending December 31, 2022 $ 1,067 For the year ending December 31, 2023 1,390 For the year ending December 31, 2024 1,380 For the year ending December 31, 2025 1,378 For the year ending December 31, 2026 1,376 For the year ending December 31, 2027 1,367 For the year ending December 31, 2028 and thereafter 5,765 Total $ 13,723

Long-Term Assets

Long-Term Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Long-Term Assets	Note 10. Long-Term Assets Deposits: Deposits consisted of the following as of March 31, 2022: Deposits on equipment Beginning balance $ 261,215 Additions 103,161 Reclassification to property and equipment (38,965 ) Ending balance 325,411 Security deposits 4,949 Deposits at March 31, 2022 $ 330,360 Deposits on Equipment: During the three months ended March 31, 2022, the Company paid approximately $103.2 million as deposits, primarily for miners, and, as of March 31, 2022, reclassified $39.0 million to property and equipment in connection with the deployment of miners at the Whinstone Facility. See Note 8. “Property and Equipment” to these unaudited Notes to Condensed Consolidated Financial Statements. Right of Use Assets: See Note 12. “Leases” to these unaudited Notes to Condensed Consolidated Financial Statements.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Note 11. Accrued Expenses As of March 31, 2022 and December 31, 2021, the Company’s accrued expenses consisted of the following: March 31, 2022 December 31, 2021 Construction in progress $ 946 $ 12,110 Power supply 10,402 — Compensation 2,629 5,927 Insurance — 2,507 Other 2,453 1,527 Total accrued expenses $ 16,430 $ 22,071

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Note 12. Leases At March 31, 2022, the Company had operating lease liabilities and right of use assets for its offices, manufacturing facilities of ESS Metron, and a ground lease at the Whinstone Facility that expire on various dates through January 2032, inclusive of extension options the Company is reasonably certain will be exercised. Rental expense for lease payments related to the Company’s operating leases is recognized on a straight-line basis over the remaining lease term. The Company currently does not hold any finance leases. The Company elected to use the practical expedient of not separating lease components for its real estate leases. The Company has elected the short-term lease exception provided, and therefore only recognizes right of use assets and lease liabilities for leases with a term greater than one year. Leases qualifying for the short-term lease exception were insignificant. As of March 31, 2022 and December 31, 2021, the right of use assets were $21.6 million and $13.2 million, respectively, and the operating lease liabilities were $21.9 million and $13.4 million, respectively, in the accompanying unaudited condensed consolidated balance sheets related to our ground lease and office leases. Operating lease right of use assets are included within long-term assets on the unaudited condensed consolidated balance sheets. The calculation of the right of use assets and lease liabilities include minimum lease payments over the remaining lease term. Variable lease payments are excluded from the amounts and are recognized in earnings in the period in which the obligation for those payments is incurred. To determine the present value of future minimum lease payments, the Company utilized its incremental borrowing rate adjusted for the remaining lease term and the form of underlying collateral. The discount rate implicit in the leases was not readily determinable. During the three months ended March 31, 2022, the Company executed a third lease amendment to the ground lease for the Whinstone facility, to add a second 100-acre tract of real property contiguous to the existing 100-acre tract on which the existing Whinstone Facility sits for an additional $0.9 million in annual payments. The initial term of the lease is scheduled to expire on January 31, 2032. Concurrent with this third amendment, the Company executed a first amendment to the water reservation agreement to obtain additional water from a nearby lake to be used by the Company for commercial purposes, such as evaporative cooling in our data center facility, for an additional $1.0 million in annual payments. The term of the original water reservation agreement was reset for a period of twelve years from the original commencement date of April 2021, now expiring on January 31, 2032. The components of lease expense for the three months ended March 31, 2022 (in thousands): Three Months Ended March 31, Lease cost 2022 Operating lease cost $ 622 Variable lease cost (1) 45 Total rent expense $ 667 (1) Amounts primarily include common area maintenance and utility charges not included in the measurement of right of use assets and operating lease liabilities. Other Information Three Months Ended March 31, Other information 2022 Operating cash flows from operating leases $ — Right of use assets exchanged for new operating lease liabilities $ 8,784 Weighted-average remaining lease term – operating leases (years) 6.9 Weighted-average discount rate – operating leases 6.5 % The following table represents our future minimum operating lease payments as of, and subsequent to, March 31, 2022 under ASC 842 (in thousands): Ground lease Office and other leases Total Nine months ending December 31, 2022 $ 1,412 $ 743 $ 2,155 2023 1,935 1,012 2,947 2024 1,993 1,001 2,994 2025 2,053 908 2,961 2026 2,114 822 2,936 2027 2,178 839 3,017 Thereafter 9,664 6,030 15,694 Total undiscounted lease payments 21,349 11,355 32,704 Less present value discount (6,555 ) (4,296 ) (10,851 ) Present value of lease liabilities $ 14,794 $ 7,059 $ 21,853 We recognize ground lease expense in cost of revenues - hosting, and office and other lease expense in selling, general and administrative expenses, respectively, in the accompanying unaudited condensed consolidated statements of operations.

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Stockholders’ Equity	Note 13. Stockholders’ Equity Preferred stock: During the three months ended March 31, 2022, the remaining 2,199 shares of the Company’s 0% Series B Convertible Preferred Stock were converted to 2,199 shares of its common stock. Common Stock: During the three months ended March 31, 2022, the Company granted 50,304 service-based restricted stock units with a fair value of approximately $1.0 million and 365,500 performance-based restricted stock units with a fair value of approximately $7.3 million. During the three months ended March 31, 2022, 978,773 shares of common stock were issued to the Company’s officers and employees 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 Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended (the “2019 Equity Plan”). The Company withheld 425,140 of these shares at a fair value of approximately $8.3 million, to cover withholding taxes related to the settlement of these vested restricted stock units, as permitted by the 2019 Equity Plan. During the three months ended March 31, 2022 the Company did not sell any shares of common stock or receive any proceeds from the 2022 ATM Offering.

Restricted Common Stock, Stock

Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants	3 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants	Note 14. Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants Stock-Based Compensation: The Company’s stock-based compensation expenses recognized during the three months ended March 31, 2022 and 2021 were attributable to selling, general and administrative expenses, which are included in the accompanying unaudited condensed consolidated statements of operations. The Company recognized stock-based compensation expense during the three months ended March 31, 2022 and 2021 as follows: Three Months Ended March 31, 2022 2021 Service-based restricted stock awards $ 1,282 $ 936 Performance-based restricted stock awards 1,760 — Total stock-based compensation $ 3,042 $ 936 Restricted Common Stock Awards: Performance-based RSUs A summary of the Company’s unvested performance-based restricted stock units for the three months ended March 31, 2022 is presented here: Number of Shares Weighted Average Grant-Date Unvested at January 1, 2022 3,404,585 $ 36.68 Granted 365,500 20.09 Vested (383,574 ) 36.66 Unvested at March 31, 2022 3,386,511 $ 34.89 During the three months ended March 31, 2022, the Company awarded 365,500 performance-based restricted shares of common stock under the 2019 Equity Plan to employees, which are eligible to vest upon the successful completion of specified milestones related to added infrastructure capacity and financial targets over a three-year performance period ending on December 31, 2023. The value of performance-based restricted stock grants is measured based on their fair market value on the date of grant and amortized over their respective estimated implicit service periods. As of March 31, 2022, there was approximately $31.0 million of total unrecognized compensation cost related to performance-based restricted stock awards, which is expected to be recognized over a remaining weighted-average vesting period of approximately seven months. Service-based RSUs A summary of the Company’s unvested service-based restricted stock units for the three months ended March 31, 2022 is presented here: Number of Shares Weighted Average Grant-Date Unvested at January 1, 2022 610,561 $ 5.93 Vested (570,524 ) 3.93 Granted 50,304 19.41 Unvested at March 31, 2022 90,341 $ 26.06 The value of service-based restricted stock grants is measured based on their fair market value on the date of grant and amortized over their respective vesting periods. During the three months ended March 31, 2022, the fair value of awards granted totaled $1.0 million and as of March 31, 2022, there was approximately $1.9 million of total unrecognized compensation cost related to unvested service-based restricted common stock rights, which is expected to be recognized over a remaining weighted-average vesting period of approximately five months. Other Common Stock Purchase Warrants: As of March 31, 2022, the Company issued a warrant to purchase up to 63,000 shares of the Company’s common stock at a purchase price of $48.37 per share to XMS Capital Partners, LLC (“XMS”) as partial payment for its advisory services in connection with the Company’s Whinstone Acquisition. The warrant can be exercised any time through August 12, 2026. No warrants were issued during the three months ended March 31, 2022.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 15. Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis: The Company’s assets and liabilities measured at fair value on a recurring basis consisted of the following as of March 31, 2022, and December 31, 2021: Fair value measured at March 31, 2022 Total carrying value at March 31, 2022 Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Derivative asset $ 69,762 $ — $ — $ 69,762 Contingent consideration liability $ 79,261 $ — $ — $ 79,261 Fair value measured at December 31, 2021 Total carrying value at December 31, 2021 Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Derivative asset $ 26,079 $ — $ — $ 26,079 Contingent consideration liability $ 83,928 $ — $ — $ 83,928 Level 3 Assets: Power Supply Agreement During the year ended December 31, 2021, the Company recorded a derivative asset related to its Power Supply Agreement with TXU Energy Retail Company LLC (“TXU”), the energy supplier to the Company’s Whinstone Facility (the “Power Supply Agreement”). The Power Supply Agreement was classified as a derivative asset and measured at fair value on the date of the Company’s acquisition of Whinstone, with changes in fair value recognized in change in fair value of derivative asset in operating income or loss on the accompanying unaudited condensed consolidated statements of operations. The contract was not designated as a hedging instrument. Prior to the Whinstone Acquisition, the Company did not have any derivative contracts. The estimated fair value of the Company’s derivate asset is classified in Level 3 of the fair value hierarchy due to the significant unobservable inputs utilized in the valuation. Specifically, our discounted cash flow estimation models contain quoted commodity exchange spot and forward prices and are adjusted for basis spreads for load zone-to-hub differentials through the term of the Power Supply Agreement, which ends in April 2030. The discount rate utilized of approximately 21% includes observable market inputs, but also includes unobservable inputs based on qualitative judgment related to company-specific risk factors. The terms of the Power Supply Agreement require margin-based collateral, calculated as exposure resulting from fluctuations in the market cost rate of electricity versus the fixed price stated in the contract. The margin-based collateral requirement to the Company was zero as of March 31, 2022 and December 31, 2021. Level 3 Liabilities: Business Combination Contingent Consideration The Company recorded a Level 3 financial liability during the year ended December 31, 2021, relating to the contingent consideration arrangement arising from the acquisition of Whinstone. Contingent consideration represents an obligation of the Company to transfer cash to Northern Data AG (“Whinstone Seller”) when Whinstone realizes or receives a benefit from utilization of certain defined power credits. The Company estimated the fair value of the contingent consideration using a discounted cash flow analysis, which includes estimates of both the timing and amounts of potential future power credits. These estimates were determined using the Company’s historical consumption quantities and patterns combined with management’s expectations of its future consumption requirements, which require significant judgment and depend on various factors outside the Company’s control, such as construction delays. The discount rate of approximately 2.5% includes observable market inputs, such as TXU’s parent company’s Standard & Poor’s credit rating of BB, but also includes unobservable inputs such as interest rate spreads, which were estimated based on qualitative judgment related to company-specific risk factors. Specifically, due to the power credits being subordinated obligations for TXU’s parent, we used one credit rating lower than BB in our yield curve to estimate a reasonable interest rate spread to determine the cost of debt input. The significant assumptions used to estimate fair value of the derivative contract include a discount rate of 21%, which reflected the nature of the contract as it relates to the risk and uncertainty of the estimated future mark-to-market adjustments, forward price curves of the power supply, broker/dealer quotes and other similar data obtained from quoted market prices or independent pricing vendors. Although these estimates are based on management’s best knowledge of current events, the estimates could change significantly from period to period. Actual results that differ from the assumptions used and any changes to the significant assumptions and unobservable inputs used could have a material impact on future results of operations. Changes in Level 3 assets and liabilities measured at fair value on a recurring basis: Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with the asset within the Level 3 category includes changes in fair value that were attributable to unobservable (e.g., changes in unobservable long-dated volatilities) inputs. The following table presents the changes in the estimated fair value of the derivative asset measured using significant unobservable inputs (Level 3) for the three months ended March 31, 2022: Derivative Asset Balance as of January 1, 2022 $ 26,079 Change in fair value 43,683 Balance as of March 31, 2022 $ 69,762 For the three months ended March 31, 2022, there was a change of approximately $43.7 million in Level 3 assets measured at fair value. Additionally, during the three months ended March 31, 2022, power sales back into the Electric Reliability Council of Texas (“ERCOT”) marketplace through Whinstone’s participation in ERCOT’s energy demand response programs totaled $2.5 million and were recorded in change in fair value of derivative asset in the unaudited condensed consolidated statements of operations. There were no Level 3 assets for the three months ended March 31, 2021. The following table presents the changes in the estimated fair value of our liability for contingent consideration measured using significant unobservable inputs (Level 3) for the three months ended March 31, 2022: Contingent Consideration Liability Balance as of January 1, 2022 $ 83,928 Payments to Whinstone Seller (4,843 ) Change in fair value 176 Balance as of March 31, 2022 $ 79,261 For the three months ended March 31, 2022, the change in Level 3 liabilities measured at fair value was $0.2 million. There were no Level 3 liabilities for the three months ended March 31, 2021. The Company’s estimated liability for contingent consideration represents potential payments of additional consideration for the Whinstone Acquisition, payable if Whinstone realizes or receives a benefit from utilization of certain defined power credits. During the three months ended March 31, 2022, the Company paid approximately $4.8 million of the contingent consideration liability. Changes in the fair value of contingent consideration are recorded in the unaudited condensed consolidated statements of operations within change in fair value of contingent consideration. There were no transfers of financial instruments between Level 1, Level 2 and Level 3 during the periods presented.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16. Commitments and Contingencies Commitments Operating Leases: The Company leases its primary office locations, manufacturing facilities and hosting facilities, as well as a ground lease, under noncancelable lease agreements that expire on varying dates through 2032. See Note 12. “Leases” to these unaudited Notes to Condensed Consolidated Financial Statements. Water Reservation Agreement: Whinstone executed a water reservation agreement in April 2021 with the lessor of the ground lease to obtain a certain quantity of water from a nearby lake to be used by the Company for evaporative cooling at our Whinstone Facility. During the three months ended March 31, 2022, and concurrent with the third amendment to the ground lease described in Note 12. “Leases” to these unaudited Notes to Condensed Consolidated Financial Statements, the Company executed a first amendment to the water reservation agreement to obtain additional water for the expanded lease area, for an additional $1.0 million in annual payments. The term of the water reservation agreement was reset for a period now expiring on January 31, 2032 and requires total annual payments of approximately $2.0 million. The Company concluded that the agreement was not a lease or a derivative instrument. Because the Company obtained an additional right of use for the reserved water amount, and the charges were increased by a standalone price commensurate with the additional water use rights and at market rates, the water reservation agreement was determined to be a lease modification accounted for as a separate contract. As such, the fees of the water reservation agreement were excluded from the lease payments of the ground lease and the water reservation agreement was accounted for as a separate executory contract. Contingencies: Legal Proceedings: 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. Class Actions and Related Claims 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. Klapper v. Riot Blockchain Inc., et al. On November 6, 2018, the court in the Takata Takata Klapper On December 24, 2020, Lead Plaintiff filed another amended complaint. On April 8, 2022, the court again granted Defendants’ motions to dismiss the operative complaint without prejudice. On May 9, 2022, Lead Plaintiff filed a motion for leave to file another amended complaint. 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 In 2018, five shareholder derivative actions were filed on behalf of the Company. The complaints in each of these actions contain allegations similar to the allegations set forth in the shareholder class action complaint pending in the United States District Court for the District of New Jersey and seek recovery against the Company and certain of the Company’s officers and directors and an investor for alleged claims including breaches of fiduciary duty, aiding and abetting breaches of fiduciary duty, unjust enrichment, waste of corporate assets, abuse of control, and mismanagement. Each of the complaints also seek unspecified monetary damages and corporate governance changes. All of the cases have been stayed pending resolution of the motion to dismiss in the securities class action pending in the United States District Court for the District of New Jersey, except for one matter ( Jackson v. Riot Blockchain, Inc., 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.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Note 17. Segment Information The Company applies ASC 280, Segment Reporting No operating segments have been aggregated to form the reportable segments. The Company does not allocate all assets to the reporting segments as these are managed on an entity-wide basis. Therefore, the Company does not separately disclose the total assets of its reportable operating segments. $29.4 million of goodwill from the ESS Metron acquisition is allocated to our Engineering segment and $319.7 million of goodwill from the Whinstone Acquisition is allocated to our Hosting segment. The Mining segment generates revenue from the Bitcoin the Company earns through its mining activities. The Hosting segment generates revenue from long-term customer contracts for the provision/consumption of electricity, construction of infrastructure, operation of data centers and maintenance/management of computing capacity from the Company’s data center facility in Rockdale, Texas. The Engineering segment generates revenue through customer contracts for custom engineered electrical products. The Hosting segment purchases custom engineered electrical products from the Engineering segment in the ordinary course of business. Effective January 1, 2022, the Mining segment entered into a colocation services agreement with the Hosting segment whereby the Mining segment is charged a base colocation fee per miner deployed at Whinstone plus a performance fee calculated as a percentage of gross mining profit. The revenue and cost of revenues from intersegment transactions have been eliminated in the consolidated statements of operations in accordance with U.S. GAAP. For purposes of segment reporting, the revenues and cost of revenues for each segment are presented in the table below on a stand-alone basis, with the intersegment eliminations presented separately, such that total revenue and total cost of revenues total to the consolidated statements of operations. All other revenues are from external customers. No single third-party customer or related group of third-party customers contributed 10% or more of the Company’s total consolidated revenue during the three months ended March 31, 2022 and 2021. However, two customers accounted for nearly all of the Company’s third-party Hosting revenue. For the three months ended March 31, 2022, approximately 57% of the Company’s mining revenue was generated from our Whinstone Facility in Rockdale, Texas, and the remaining 43% was generated from the Coinmint Facility in New York. The following table details revenue and cost of revenues for the Company's reportable segments for the three months ended March 31, 2022 and 2021, and reconciles to net income (loss) on the unaudited condensed consolidated statements of operations: Three months ended March 31, 2022 2021 Reportable segment revenue: Revenue, net - mining $ 57,945 $ 23,173 Revenue, net - hosting 21,039 — Revenue, net - engineering 15,238 — Other revenue 24 24 Eliminations (14,459 ) — Total segment and consolidated revenue 79,787 23,197 Reportable segment cost of revenues (exclusive of depreciation and amortization shown below): Cost of revenues - mining 23,931 7,534 Cost of revenues - hosting 21,492 — Cost of revenues - engineering 13,552 — Eliminations (13,347 ) — Total segment and consolidated cost of revenues (exclusive of depreciation and amortization shown below) 45,628 7,534 Reconciling Items: Selling, general and administrative (10,910 ) (5,462 ) Depreciation and amortization (14,245 ) (2,846 ) Change in fair value of derivative asset 46,235 — Change in fair value of contingent consideration (176 ) — Realized gain on sale/exchange of cryptocurrencies 9,236 — Impairment of cryptocurrencies (26,390 ) — Interest and other income (expense) (357 ) 175 Unrealized loss on marketable equity securities (1,611 ) — Current income tax expense (312 ) — Net income $ 35,629 $ 7,530

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events Acquisition of Corsicana Facility Land Site: Subsequent to March 31, 2022, the Company announced that it has initiated a large-scale development to expand its Bitcoin mining and hosting capabilities in Navarro County, Texas with the acquisition of the 265-acre site where the anticipated 1 GW Corsicana Facility will be constructed. The initial development phase of the Corsicana Facility involves the development of 400 MW of Bitcoin mining capacity on the 265-acre site dedicated to immersion-cooled Bitcoin mining and hosting, with operations expected to commence following completion of construction in July 2023. This first phase of the development of the Corsicana Facility includes land acquisition, site preparation, substation development, transmission construction, along with construction of ancillary buildings and four buildings utilizing the Company’s immersion-cooling infrastructure and technology. The Company estimates that the total cost of the first phase of the Expansion will be approximately $333 million, which is scheduled to be invested over the remainder of 2022, 2023, and the first quarter of 2024. Sales of Common Stock: Subsequent to March 31, 2022, in connection with the Company’s 2022 ATM Offering (see Note 2. “Liquidity and Financial Condition” to these unaudited Notes to Condensed Consolidated Financial Statements), the Company received net proceeds of approximately $140.3 million from the sale of 9.9 million shares of common stock. Employee Equity Grants: Subsequent to March 31, 2022, the Company granted 382,080 restricted stock units at a fair value of approximately $6.1 million under the 2019 Equity Plan, including: (a) 184,680 service-based RSUs with a fair value of approximately $3.0 million, which are eligible to vest in quarterly tranches following the grant date, subject to the recipient’s continued employment with the Company through the vesting date; and (b) 197,400 performance-based RSUs with a fair value of approximately $3.1 million, which are eligible to vest based on the Company’s achievement of certain performance objectives, as specified under the performance-based restricted stock unit plan adopted on August 12, 2021 under the 2019 Equity Plan. Subsequent to March 31, 2022, 36,156 shares of common stock were issued to the Company’s officers and employees 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 7,277 of these shares at a fair value of approximately $0.1 million, in satisfaction of withholding taxes related to the settlement of these vested restricted stock units, as permitted by the 2019 Equity Plan and approved by the Compensation Committee of the Company’s Board of Directors. Sale of Bitcoin: Subsequent to March 31, 2022, the Company sold 250 Bitcoin at an average sales price of approximately $40,056 for proceeds of approximately $10.0 million and an estimated gain on sale of $8.4 million.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of such interim results. Amounts are in thousands except for share, per share and miner amounts. The results for the unaudited condensed consolidated statements of operations are not necessarily indicative of results to be expected for the fiscal year ending December 31, 2022 or for any future interim period. The unaudited condensed consolidated financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2021 and notes thereto included in the Company’s 2021 Annual Report on Form 10-K filed with the SEC on March 16, 2022.
Reclassifications	Reclassifications: Certain prior period amounts have been reclassified to conform to the current period presentation in the consolidated financial statements and these accompanying notes. The reclassifications did not have a material impact on the Company's unaudited condensed consolidated financial statements and related disclosures. The impact on any prior period disclosures was immaterial.
Use of Estimates	Use of Estimates: The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. The most significant accounting estimates inherent in the preparation of the Company’s unaudited condensed consolidated financial statements include estimates associated with valuing contingent consideration for a business combination and periodic reassessment of its fair value, allocating the fair value of purchase consideration to assets acquired and liabilities assumed in business acquisitions, revenue recognition, valuing the derivative asset classified under Level 3 fair value hierarchy, determining the useful lives and recoverability of long-lived assets, impairment analysis of goodwill and finite-lived intangibles, stock-based compensation, and the valuation allowance associated with the Company’s deferred tax assets.
Significant Accounting Policies	Significant Accounting Policies: For a detailed discussion about the Company’s significant accounting policies, see the Company’s December 31, 2021 consolidated financial statements included in its 2021 Annual Report.
Segment and Reporting Unit Information	Segment and Reporting Unit Information: Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The CODM is comprised of a committee of the Company’s executive officers. The Company has three operating segments as of March 31, 2022. See Note 17. “Segment Information” to these unaudited Notes to Condensed Consolidated Financial Statements.
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
Income Per Share	Income Per Share: Basic net income per share (“EPS”) of common stock is computed by dividing net income 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 stock units (“RSUs”) and the holdback of 70,165 shares as security for the ESS Metron sellers’ indemnification obligations under the December 1, 2021 membership interest purchase agreement covering the acquisition, from the net income (loss) per share calculation. For the three months ended March 31, 2022 and 2021, the Company recorded net income and therefore, earnings per share was calculated using the treasury stock method. Dilutive potential common shares include outstanding stock options, restricted stock shares, warrants and the outstanding shares of the Company’s 0% Series B Convertible Preferred Stock (the “Series B Preferred Stock”). Potentially dilutive shares are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, restricted stock awards and warrants. Potentially dilutive shares issuable upon conversion of our Series B Preferred Stock for 2021, are calculated using the if-converted method. During the three months ended March 31, 2022, the remaining 2,199 shares of the Series B Preferred Stock outstanding as of January 1, 2022 were converted into 2,199 shares of the Company’s common stock. The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the periods presented below (in thousands except for share and per share amounts): Three Months Ended March 31, 2022 2021 Basic and diluted income per share: Net income $ 35,629 $ 7,530 Basic weighted average number of shares outstanding 117,042,347 83,163,400 Add: — Options to purchase common stock — 10,788 Warrants to purchase common stock — 530,623 Unvested restricted stock awards — 4,712 Convertible Series B preferred shares — 2,628 Diluted weighted average number of shares outstanding 117,042,347 83,712,151 Basic net income per share $ 0.30 $ 0.09 Diluted net income per share $ 0.30 $ 0.09
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements: In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) 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 condensed consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s unaudited condensed consolidated financial statements properly reflect the change.

Basis of Presentation, Summar_2

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of reconciliation of numerator and denominator of the diluted net income per share	Three Months Ended March 31, 2022 2021 Basic and diluted income per share: Net income $ 35,629 $ 7,530 Basic weighted average number of shares outstanding 117,042,347 83,163,400 Add: — Options to purchase common stock — 10,788 Warrants to purchase common stock — 530,623 Unvested restricted stock awards — 4,712 Convertible Series B preferred shares — 2,628 Diluted weighted average number of shares outstanding 117,042,347 83,712,151 Basic net income per share $ 0.30 $ 0.09 Diluted net income per share $ 0.30 $ 0.09

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Schedule of unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of future operating results of the combined company	Three Months Ended March 31, 2021 Total revenue $ 39,399 Net income $ 98,917

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of disaggregated revenue	Three Months Ended March 31, 2022 2021 Mining $ 57,945 $ 23,173 Hosting 9,694 — Engineering 12,124 — Other 24 24 Total revenue $ 79,787 $ 23,197
Schedule of changes in the total deferred revenue liability	Beginning balance - January 1, 2022 $ 27,903 Revenue recognized (865 ) Ending balance - March 31, 2022 $ 27,038

Cryptocurrencies (Tables)

Cryptocurrencies (Tables)	3 Months Ended
	Mar. 31, 2022
Cryptocurrencies [Abstract]
Schedule of additional information	Beginning balance - January 1, 2022 $ 159,544 Revenue recognized 57,945 Proceeds from sale (10,701 ) Realized gain on sale/exchange 9,236 Impairment (26,390 ) Ending balance - March 31, 2022 $ 189,634

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Life (Years) March 31, 2022 December 31, 2021 Buildings and improvements 10-25 $ 144,230 $ 78,548 Miners and mining equipment 2 130,475 87,921 Machinery and facility equipment 5-7 15,358 12,373 Office and computer equipment 3 1,061 1,007 Construction in progress 78,374 113,598 Total cost of property and equipment 369,498 293,447 Less accumulated depreciation (44,366 ) (30,467 ) Property and equipment, net $ 325,132 $ 262,980
Schedule of purchase agreement commitments, deposits paid and expected delivery timing	Agreement Date * Original Purchase Commitment Additional Purchases Open Purchase Commitment Deposit Balance Expected Shipping April 5, 2021 $ 138,506 $ 11,950 $ 35,488 $ 114,968 Second Quarter 2022 - Fourth Quarter 2022 October 29, 2021 56,250 — 22,500 33,750 Second Quarter 2022 - Third Quarter 2022 November 22, 2021 32,550 — 15,278 17,272 Third Quarter 2022 - Fourth Quarter 2022 December 10, 2021 97,650 — 45,833 51,817 Third Quarter 2022 - Fourth Quarter 2022 December 24, 2021 202,860 — 95,256 107,604 Third Quarter 2022 - Fourth Quarter 2022 Total $ 527,816 $ 11,950 $ 214,355 $ 325,411 * 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.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Gross book value Accumulated amortization Net book value Weighted-average life (years) Customer contracts $ 6,300 $ (207 ) $ 6,093 10 Trademark 5,000 (166 ) 4,834 10 UL Listings 2,700 (75 ) 2,625 12 Patents 559 (388 ) 171 Various Intangible assets, net as of March 31, 2022 $ 14,559 $ (836 ) $ 13,723 Gross book value Accumulated amortization Net book value Weighted-average life (years) Customer contracts $ 6,300 $ (51 ) $ 6,249 10 Trademark 5,000 (42 ) 4,958 10 UL Listings 2,700 (19 ) 2,681 12 Patents 742 (468 ) 274 Various Intangible assets, net as of December 31, 2021 $ 14,742 $ (580 ) $ 14,162
Schedule of the estimated future amortization expense associated with intangible assets	Estimated amortization expense For the nine months ending December 31, 2022 $ 1,067 For the year ending December 31, 2023 1,390 For the year ending December 31, 2024 1,380 For the year ending December 31, 2025 1,378 For the year ending December 31, 2026 1,376 For the year ending December 31, 2027 1,367 For the year ending December 31, 2028 and thereafter 5,765 Total $ 13,723

Long-Term Assets (Tables)

Long-Term Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of deposits on equipment	Deposits on equipment Beginning balance $ 261,215 Additions 103,161 Reclassification to property and equipment (38,965 ) Ending balance 325,411 Security deposits 4,949 Deposits at March 31, 2022 $ 330,360

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of accrued expenses	March 31, 2022 December 31, 2021 Construction in progress $ 946 $ 12,110 Power supply 10,402 — Compensation 2,629 5,927 Insurance — 2,507 Other 2,453 1,527 Total accrued expenses $ 16,430 $ 22,071

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases Table [Abstract]
Schedule of lease expense	Three Months Ended March 31, Lease cost 2022 Operating lease cost $ 622 Variable lease cost (1) 45 Total rent expense $ 667 (1) Amounts primarily include common area maintenance and utility charges not included in the measurement of right of use assets and operating lease liabilities.
Schedule of other information	Three Months Ended March 31, Other information 2022 Operating cash flows from operating leases $ — Right of use assets exchanged for new operating lease liabilities $ 8,784 Weighted-average remaining lease term – operating leases (years) 6.9 Weighted-average discount rate – operating leases 6.5 %
Schedule of future minimum operating lease payments	Ground lease Office and other leases Total Nine months ending December 31, 2022 $ 1,412 $ 743 $ 2,155 2023 1,935 1,012 2,947 2024 1,993 1,001 2,994 2025 2,053 908 2,961 2026 2,114 822 2,936 2027 2,178 839 3,017 Thereafter 9,664 6,030 15,694 Total undiscounted lease payments 21,349 11,355 32,704 Less present value discount (6,555 ) (4,296 ) (10,851 ) Present value of lease liabilities $ 14,794 $ 7,059 $ 21,853

Restricted Common Stock, Stoc_2

Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Tables)	3 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of recognized stock-based compensation	Three Months Ended March 31, 2022 2021 Service-based restricted stock awards $ 1,282 $ 936 Performance-based restricted stock awards 1,760 — Total stock-based compensation $ 3,042 $ 936
Summary of restricted common stock awards	Number of Shares Weighted Average Grant-Date Unvested at January 1, 2022 3,404,585 $ 36.68 Granted 365,500 20.09 Vested (383,574 ) 36.66 Unvested at March 31, 2022 3,386,511 $ 34.89 Number of Shares Weighted Average Grant-Date Unvested at January 1, 2022 610,561 $ 5.93 Vested (570,524 ) 3.93 Granted 50,304 19.41 Unvested at March 31, 2022 90,341 $ 26.06

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on recurring basis	Fair value measured at March 31, 2022 Total carrying value at March 31, 2022 Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Derivative asset $ 69,762 $ — $ — $ 69,762 Contingent consideration liability $ 79,261 $ — $ — $ 79,261 Fair value measured at December 31, 2021 Total carrying value at December 31, 2021 Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Derivative asset $ 26,079 $ — $ — $ 26,079 Contingent consideration liability $ 83,928 $ — $ — $ 83,928
Schedule of changes in estimated fair value of derivative asset	Derivative Asset Balance as of January 1, 2022 $ 26,079 Change in fair value 43,683 Balance as of March 31, 2022 $ 69,762
Schedule of changes in estimated fair value of liability	Contingent Consideration Liability Balance as of January 1, 2022 $ 83,928 Payments to Whinstone Seller (4,843 ) Change in fair value 176 Balance as of March 31, 2022 $ 79,261

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of reportable segments and operating income	Three months ended March 31, 2022 2021 Reportable segment revenue: Revenue, net - mining $ 57,945 $ 23,173 Revenue, net - hosting 21,039 — Revenue, net - engineering 15,238 — Other revenue 24 24 Eliminations (14,459 ) — Total segment and consolidated revenue 79,787 23,197 Reportable segment cost of revenues (exclusive of depreciation and amortization shown below): Cost of revenues - mining 23,931 7,534 Cost of revenues - hosting 21,492 — Cost of revenues - engineering 13,552 — Eliminations (13,347 ) — Total segment and consolidated cost of revenues (exclusive of depreciation and amortization shown below) 45,628 7,534 Reconciling Items: Selling, general and administrative (10,910 ) (5,462 ) Depreciation and amortization (14,245 ) (2,846 ) Change in fair value of derivative asset 46,235 — Change in fair value of contingent consideration (176 ) — Realized gain on sale/exchange of cryptocurrencies 9,236 — Impairment of cryptocurrencies (26,390 ) — Interest and other income (expense) (357 ) 175 Unrealized loss on marketable equity securities (1,611 ) — Current income tax expense (312 ) — Net income $ 35,629 $ 7,530

Liquidity and Financial Condi_2

Liquidity and Financial Condition (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Liquidity and Financial Condition (Details) [Line Items]
Cash and cash equivalents	$ 113,581		$ 312,315
Working capital	323,500
Stockholders' equity	1,400,000
Accumulated deficit	$ (202,209)		$ (237,838)
Sold bitcoin (in Shares) | shares	200
Bitcoin proceeds amount	$ 9,400
Deposit amount	103,161	$ 56,353
Reclassification to property and equipment	$ (38,965)
Number of receipt miners	6,894
Proceeds on sales of common stock		$ 84,817
Coinmint, LLC and Whinstone [Member]
Liquidity and Financial Condition (Details) [Line Items]
Deposit amount	103,200
Reclassification to property and equipment	39,000
Sales Agents [Member] | 2021 ATM Offering [Member] | Common Stock [Member]
Liquidity and Financial Condition (Details) [Line Items]
Stockholders' equity	$ 500,000
Commission percentage	3.00%
Stock issued during period (in Shares) | shares	9,900,000
Proceeds on sales of common stock	$ 140,300
Commissions paid	$ 29,000
Weighted average price (in Dollars per share) | $ / shares	$ 14.44

Basis of Presentation, Summar_3

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details) - shares	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details) [Line Items]
Number of stock holds for shares as security	70,165
0% Convertible Preferred Stock Series B [Member]
Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details) [Line Items]
Preferred stock, shares outstanding		2,199
Preferred stock, shares issued		2,199

Basis of Presentation, Summar_4

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details) - Schedule of reconciliation of numerator and denominator of the diluted net income per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Basic and diluted income per share:
Net income (in Dollars)	$ 35,629	$ 7,530
Basic weighted average number of shares outstanding	117,042,347	83,163,400
Options to purchase common stock		10,788
Warrants to purchase common stock		530,623
Unvested restricted stock awards		4,712
Convertible Series B preferred shares		2,628
Diluted weighted average number of shares outstanding	117,042,347	83,712,151
Basic net income per share (in Dollars per share)	$ 0.3	$ 0.09
Diluted net income per share (in Dollars per share)	$ 0.3	$ 0.09

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Dec. 01, 2021	May 26, 2021	Dec. 31, 2020
Acquisition of ESS Metron [Member]
Acquisitions (Details) [Line Items]
Percentage of voting interests acquired	100.00%
Cash consideration net of working capital	$ 25
Number of shares acquired (in Shares)	715,413
Number of shares acquired value	$ 26.7
Acquisition of ESS Metron One [Member]
Acquisitions (Details) [Line Items]
Number of shares acquired (in Shares)	715,413
Number of shares issued (in Shares)	645,248
Number of remaining shares withheld as security (in Shares)	70,165
Acquisition of Whinstone [Member]
Acquisitions (Details) [Line Items]
Percentage of voting interests acquired		100.00%
Cash consideration net of working capital		$ 80
Number of shares acquired (in Shares)		11,800,000
Number of shares acquired value		$ 326
Hosting facility amount		460
Net debt outstanding		38
Additional consideration paid		$ 86
Pro Formas [Member]
Acquisitions (Details) [Line Items]
Acquisition-related costs			$ 21.3

Acquisitions (Details) - Schedu

Acquisitions (Details) - Schedule of unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of future operating results of the combined company $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Schedule of unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of future operating results of the combined company [Abstract]
Total revenue	$ 39,399
Net income	$ 98,917

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract balances	$ 11.1	$ 9.9

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Details) - Schedule of disaggregated revenue - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 79,787	$ 23,197
Mining [Member]
Disaggregation of Revenue [Line Items]
Total revenue	57,945	23,173
Hosting [Member]
Disaggregation of Revenue [Line Items]
Total revenue	9,694
Engineering [Member]
Disaggregation of Revenue [Line Items]
Total revenue	12,124
Other [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 24	$ 24

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Details) - Schedule of changes in the total deferred revenue liability $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of changes in the total deferred revenue liability [Abstract]
Beginning balance	$ 27,903
Revenue recognized	(865)
Ending balance	$ 27,038

Cryptocurrencies (Details) - S

Cryptocurrencies (Details) - Schedule of additional information $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of additional information [Abstract]
Beginning balance	$ 159,544
Revenue recognized	57,945
Proceeds from sale	(10,701)
Realized gain on sale/exchange	9,236
Impairment	(26,390)
Ending balance	$ 189,634

Investments in Marketable Equ_2

Investments in Marketable Equity Securities (Details) - Mogo Investment Agreement [Member] $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Investments in Marketable Equity Securities (Details) [Line Items]
Unrealized loss on shares exchange | $	$ 1.6
Closing price per share | $ / shares	$ 2.91
Cost-method Investments [Member]
Investments in Marketable Equity Securities (Details) [Line Items]
Shares issued | shares	3.2

Property and Equipment (Details

Property and Equipment (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Property and Equipment (Details) [Line Items]
Number of computers acquired	42,919
Deposit of miners (in Dollars)	$ 103.2
Property and equipment (in Dollars)	39
Value of computers acquired (in Dollars)			$ 535
Payable to Bitmain in installments (in Dollars)			$ 214.4
Depreciation and amortization expense (in Dollars)	$ 13.9	$ 2.8
Bitmain [Member]
Property and Equipment (Details) [Line Items]
Number of computers acquired	6,894
Whinstone [Member]
Property and Equipment (Details) [Line Items]
Number of computers acquired	6,894
Commitment [Member]
Property and Equipment (Details) [Line Items]
Percentage of paid deposit	62.00%
Antminer S19j (90 TH/s) miners [Member]
Property and Equipment (Details) [Line Items]
Number of computers acquired			52,500
Antminer S19XP (140 TH/s) miners [Member]
Property and Equipment (Details) [Line Items]
Number of computers acquired			30,000
Bitmain S19j Pro miners [Member]
Property and Equipment (Details) [Line Items]
Number of computers acquired	41,601
S19XP Model Miners [Member] | Commitment [Member]
Property and Equipment (Details) [Line Items]
Number of computers acquired	30,000

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	$ 369,498	$ 293,447
Less accumulated depreciation	(44,366)	(30,467)
Property and equipment, net	$ 325,132	262,980
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives property and equipment	10-25
Total cost of property and equipment	$ 144,230	78,548
Miners and mining equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives property and equipment	2
Total cost of property and equipment	$ 130,475	87,921
Machinery and facility equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives property and equipment	5-7
Total cost of property and equipment	$ 15,358	12,373
Office and computer equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives property and equipment	3
Total cost of property and equipment	$ 1,061	1,007
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Total cost of property and equipment	$ 78,374	$ 113,598

Property and Equipment (Detai_3

Property and Equipment (Details) - Schedule of purchase agreement commitments, deposits paid and expected delivery timing $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Long-Term Purchase Commitment [Line Items]
Agreement Date	Total	[1]
Original Purchase Commitment	$ 527,816
Additional Purchases	11,950
Open Purchase Commitment	214,355
Deposit Balance	$ 325,411
Agreement Date One [Member]
Long-Term Purchase Commitment [Line Items]
Agreement Date	April 5, 2021	[1]
Original Purchase Commitment	$ 138,506
Additional Purchases	11,950
Open Purchase Commitment	35,488
Deposit Balance	$ 114,968
Expected Shipping	Second Quarter 2022 - Fourth Quarter 2022
Agreement Date Two [Member]
Long-Term Purchase Commitment [Line Items]
Agreement Date	October 29, 2021	[1]
Original Purchase Commitment	$ 56,250
Additional Purchases
Open Purchase Commitment	22,500
Deposit Balance	$ 33,750
Expected Shipping	Second Quarter 2022 - Third Quarter 2022
Agreement Date Three [Member]
Long-Term Purchase Commitment [Line Items]
Agreement Date	November 22, 2021	[1]
Original Purchase Commitment	$ 32,550
Additional Purchases
Open Purchase Commitment	15,278
Deposit Balance	$ 17,272
Expected Shipping	Third Quarter 2022 - Fourth Quarter 2022
Agreement Date Four [Member]
Long-Term Purchase Commitment [Line Items]
Agreement Date	December 10, 2021	[1]
Original Purchase Commitment	$ 97,650
Additional Purchases
Open Purchase Commitment	45,833
Deposit Balance	$ 51,817
Expected Shipping	Third Quarter 2022 - Fourth Quarter 2022
Agreement Date Five [Member]
Long-Term Purchase Commitment [Line Items]
Agreement Date	December 24, 2021	[1]
Original Purchase Commitment	$ 202,860
Additional Purchases
Open Purchase Commitment	95,256
Deposit Balance	$ 107,604
Expected Shipping	Third Quarter 2022 - Fourth Quarter 2022
[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.

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Intangible Assets, Net (Details) [Line Items]
Amortization expense	$ 400	$ 20
Minimum [Member]
Intangible Assets, Net (Details) [Line Items]
Original useful lives	10 years
Maximum [Member]
Intangible Assets, Net (Details) [Line Items]
Original useful lives	12 years

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of intangible assets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Customer Contracts [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Gross book value	$ 6,300	$ 6,300
Accumulated amortization	(207)	(51)
Net book value	$ 6,093	$ 6,249
Weighted-average life (years)	10 years	10 years
Trademark [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Gross book value	$ 5,000	$ 5,000
Accumulated amortization	(166)	(42)
Net book value	$ 4,834	$ 4,958
Weighted-average life (years)	10 years	10 years
UL Listings [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Gross book value	$ 2,700	$ 2,700
Accumulated amortization	(75)	(19)
Net book value	$ 2,625	$ 2,681
Weighted-average life (years)	12 years	12 years
Patents [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Gross book value	$ 559	$ 742
Accumulated amortization	(388)	(468)
Net book value	$ 171	$ 274
Weighted-average life (years)
Intangible assets, net [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Gross book value	$ 14,559	$ 14,742
Accumulated amortization	(836)	(580)
Net book value	$ 13,723	$ 14,162

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details) - Schedule of the estimated future amortization expense associated with intangible assets - Estimated amortization expense [Member] $ in Thousands	Mar. 31, 2022USD ($)
Intangible Assets, Net (Details) - Schedule of the estimated future amortization expense associated with intangible assets [Line Items]
For the nine months ending December 31, 2022	$ 1,067
For the year ending December 31, 2023	1,390
For the year ending December 31, 2024	1,380
For the year ending December 31, 2025	1,378
For the year ending December 31, 2026	1,376
For the year ending December 31, 2027	1,367
For the year ending December 31, 2028 and thereafter	5,765
Total	$ 13,723

Long-Term Assets (Details)

Long-Term Assets (Details) - Coinmint Facility [Member] $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Long-Term Assets (Details) [Line Items]
Deposits on equipment	$ 103.2
Reclassification to property and equipment	$ 39

Long-Term Assets (Details) - Sc

Long-Term Assets (Details) - Schedule of deposits on equipment $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of deposits on equipment [Abstract]
Beginning balance	$ 261,215
Additions	103,161
Reclassification to property and equipment	(38,965)
Ending balance	325,411
Security deposits	4,949
Deposits	$ 330,360

Accrued Expenses (Details) - Sc

Accrued Expenses (Details) - Schedule of accrued expenses - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of accrued expenses [Abstract]
Construction in progress	$ 946	$ 12,110
Power supply	10,402
Compensation	2,629	5,927
Insurance		2,507
Other	2,453	1,527
Total accrued expenses	$ 16,430	$ 22,071

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Leases Details [Abstract]
Right of use assets	$ 21,616	$ 13,189
Operating lease liabilities	21,853	$ 13,400
Whinstone Facility [Member]
Leases Details [Abstract]
Annual payments	900
Center Facility [Member]
Leases Details [Abstract]
Annual payments	$ 1,000

Leases (Details) - Schedule of

Leases (Details) - Schedule of lease expense $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of lease expense [Abstract]
Operating lease cost	$ 622
Variable lease cost	45	[1]
Total rent expense	$ 667
[1]	Amounts primarily include common area maintenance and utility charges not included in the measurement of right of use assets and operating lease liabilities.

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of other information $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of other information [Abstract]
Operating cash flows from operating leases
Right of use assets exchanged for new operating lease liabilities	$ 8,784
Weighted-average remaining lease term – operating leases (years)	6 years 10 months 24 days
Weighted-average discount rate – operating leases	6.50%

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of future minimum operating lease payments - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Leases (Details) - Schedule of future minimum operating lease payments [Line Items]
Nine months ending December 31, 2022	$ 2,155
2023	2,947
2024	2,994
2025	2,961
2026	2,936
2027	3,017
Thereafter	15,694
Total undiscounted lease payments	32,704
Less present value discount	(10,851)
Present value of lease liabilities	21,853	$ 13,400
Ground lease [Member]
Leases (Details) - Schedule of future minimum operating lease payments [Line Items]
Nine months ending December 31, 2022	1,412
2023	1,935
2024	1,993
2025	2,053
2026	2,114
2027	2,178
Thereafter	9,664
Total undiscounted lease payments	21,349
Less present value discount	(6,555)
Present value of lease liabilities	14,794
Office and other leases [Member]
Leases (Details) - Schedule of future minimum operating lease payments [Line Items]
Nine months ending December 31, 2022	743
2023	1,012
2024	1,001
2025	908
2026	822
2027	839
Thereafter	6,030
Total undiscounted lease payments	11,355
Less present value discount	(4,296)
Present value of lease liabilities	$ 7,059

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders’ Equity (Details) [Line Items]
Number of remaining shares	2,199
Time-based restricted stock units granted	50,304
Performance-based restricted stock units	365,500
Performance-based restricted stock units fair value (in Dollars)	$ 7,300
Proceeds from the sale of stock (in Dollars)		$ 84,817
0% Series B Convertible Preferred Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Common stock shares	2,199
Restricted Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Proceeds from the sale of stock (in Dollars)	$ 8,300
Restricted Stock [Member] | Common Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Fair value of time-based restricted stock (in Dollars)	$ 1,000
Restricted Stock [Member] | Member of our company’s officers and employees [Member]
Stockholders’ Equity (Details) [Line Items]
Stock issued during period, shares	978,773
Number of shares held to cover withholding taxes related to the settlement of restricted stock units	425,140

Restricted Common Stock, Stoc_3

Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) [Line Items]
Performance-based restricted shares granted (in Shares)	365,500
Common stock, warrants (in Shares)	63,000
Common stock, par value (in Dollars per share) | $ / shares	$ 48.37
Unvested Restricted Stock Awards [Member]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) [Line Items]
Performance-based restricted shares granted (in Shares)	365,500
Unrecognized compensation cost | $	$ 31
Unrecognized compensation cost, period for recognition	7 months
Unvested Service Based Restricted Stock [Member]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) [Line Items]
Performance-based restricted shares granted (in Shares)	50,304
Unrecognized compensation cost | $	$ 1.9
Unrecognized compensation cost, period for recognition	5 months
Fair value of restricted stock granted | $	$ 1

Restricted Common Stock, Stoc_4

Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of recognized stock-based compensation - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of recognized stock-based compensation [Line Items]
Total stock-based compensation	$ 3,042	$ 936
Service-based restricted stock awards [Member]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of recognized stock-based compensation [Line Items]
Total stock-based compensation	1,282	936
Performance-based RSU [Member]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of recognized stock-based compensation [Line Items]
Total stock-based compensation	$ 1,760

Restricted Common Stock, Stoc_5

Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of restricted common stock awards	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Unvested Performance-Based Restricted [Member]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of restricted common stock awards [Line Items]
Number of Shares, Unvested at January 1, 2022 | shares	3,404,585
Weighted Average Grant-Date Fair Value, Unvested at January 1, 2022 | $ / shares	$ 36.68
Number of Shares, Granted | shares	365,500
Weighted Average Grant-Date Fair Value, Granted | $ / shares	$ 20.09
Number of Shares, Vested | shares	(383,574)
Weighted Average Grant-Date Fair Value, Vested | $ / shares	$ 36.66
Number of Shares, Unvested at March 31, 2022 | shares	3,386,511
Weighted Average Grant-Date Fair Value, Unvested at March 31, 2022 | $ / shares	$ 34.89
Unvested Service-Based Restricted Stock [Member]
Restricted Common Stock, Stock Options, Restricted Stock Units (“RSUs”) and Warrants (Details) - Schedule of restricted common stock awards [Line Items]
Number of Shares, Unvested at January 1, 2022 | shares	610,561
Weighted Average Grant-Date Fair Value, Unvested at January 1, 2022 | $ / shares	$ 5.93
Number of Shares, Granted | shares	50,304
Weighted Average Grant-Date Fair Value, Granted | $ / shares	$ 19.41
Number of Shares, Vested | shares	(570,524)
Weighted Average Grant-Date Fair Value, Vested | $ / shares	$ 3.93
Number of Shares, Unvested at March 31, 2022 | shares	90,341
Weighted Average Grant-Date Fair Value, Unvested at March 31, 2022 | $ / shares	$ 26.06

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value Measurements (Details) [Line Items]
Fair value of derivative asset	$ 200
Contingent consideration liability	$ 4,800
Discount rate [Member]
Fair Value Measurements (Details) [Line Items]
Discount rate	21.00%
Level 3 [Member]
Fair Value Measurements (Details) [Line Items]
Fair value	$ 43,700
Contingent consideration liability	79,261	$ 83,928
Level 3 [Member] | Demand Response Programs [Member]
Fair Value Measurements (Details) [Line Items]
Change in fair value of derivative asset	$ 2,500
Whinstone [Member] | Discount rate [Member]
Fair Value Measurements (Details) [Line Items]
Discount rate	21.00%
Whinstone [Member] | Standard & Poor's [Member]
Fair Value Measurements (Details) [Line Items]
Discount rate	2.50%

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on recurring basis - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on recurring basis [Line Items]
Derivative asset	$ 69,762	$ 26,079
Contingent consideration liability	79,261	83,928
Quoted prices in active markets (Level 1) [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on recurring basis [Line Items]
Derivative asset
Contingent consideration liability
Significant other observable inputs (Level 2) [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on recurring basis [Line Items]
Derivative asset
Contingent consideration liability
Significant unobservable inputs (Level 3) [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on recurring basis [Line Items]
Derivative asset	69,762	26,079
Contingent consideration liability	$ 79,261	$ 83,928

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of changes in estimated fair value of derivative asset $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of changes in estimated fair value of derivative asset [Abstract]
Balance as of January 1, 2022	$ 26,079
Change in fair value	43,683
Balance as of March 31, 2022	$ 69,762

Fair Value Measurements (Deta_4

Fair Value Measurements (Details) - Schedule of changes in estimated fair value of liability - Level 3 [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value Measurements (Details) - Schedule of changes in estimated fair value of liability [Line Items]
Balance as of January 1, 2022	$ 83,928
Payments to Whinstone Seller	(4,843)
Change in fair value	176
Balance as of March 31, 2022	$ 79,261

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
Additional annual lease payments	$ 1
Annual lease payments	$ 2

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)Segments	Dec. 31, 2021USD ($)
Segment Information (Details) [Line Items]
Number of reportable segments (in Segments) | Segments	3
Goodwill (in Dollars)	$ 349,148	$ 349,063
Revenue contribution percentage	10.00%	10.00%
ESS Metron acquisition [Member]
Segment Information (Details) [Line Items]
Goodwill (in Dollars)	$ 29,400
Whinstone Acquisition [Member]
Segment Information (Details) [Line Items]
Goodwill (in Dollars)	$ 319,700
Whinstone Facility [Member]
Segment Information (Details) [Line Items]
Mining revenue percentage	57.00%
Coinmint facility [Member]
Segment Information (Details) [Line Items]
Mining revenue percentage	43.00%

Segment Information (Details) -

Segment Information (Details) - Schedule of reportable segments and operating income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	$ 79,787	$ 23,197
Total segment and consolidated cost of revenues	45,628	7,534
Reconciling Items:
Selling, general and administrative	(10,910)	(5,462)
Depreciation and amortization	(14,245)	(2,846)
Change in fair value of derivative asset	46,235
Change in fair value of contingent consideration	(176)
Realized gain on sale/exchange of cryptocurrencies	9,236
Impairment of cryptocurrencies	(26,390)
Interest and other income (expense)	(357)	175
Unrealized loss on marketable equity securities	(1,611)
Current income tax expense	(312)
Net income	35,629	7,530
Revenue, net - mining [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	57,945	23,173
Revenue, net - hosting [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	21,039
Revenue, net - engineering [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	15,238
Other Revenue [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	24	24
Eliminations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue	(14,459)
Total segment and consolidated cost of revenues	(13,347)
Cost of revenues - mining [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment and consolidated cost of revenues	23,931	7,534
Cost of revenues - hosting [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment and consolidated cost of revenues	21,492
Cost of revenues - engineering [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment and consolidated cost of revenues	$ 13,552

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Subsequent Events (Details) [Line Items]
Total cost of expansion	$ 333,000
Net proceeds		$ 84,817
Average sales price	40,056
Proceeds amount	10,000
Estimated gain on sale	8,400
2019 Equity Plan [Member]
Subsequent Events (Details) [Line Items]
Net proceeds	$ 100
Sale of shares of common stock (in Shares)	36,156
Restricted stocks granted (in Shares)	382,080
Restricted stocks granted, value	$ 6,100
Service-based restricted stock units (in Shares)	184,680
Service-based restricted stock units fair value	$ 3,000
Performance-based restricted stock units (in Shares)	197,400
Performance-based restricted stock units fair value	$ 3,100
Number of shares held to cover withholding taxes related to the settlement of restricted stock units (in Shares)	7,277
2022 ATM Offering [Member]
Subsequent Events (Details) [Line Items]
Net proceeds	$ 140,300
Sale of shares of common stock (in Shares)	9,900,000