Marathon Digital (MARA) 10-Q/A 12 May 21 2021 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 10, 2021
Cover [Abstract]
Entity Registrant Name	MARATHON DIGITAL HOLDINGS, INC.
Entity Central Index Key	0001507605
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2021
Amendment Flag	true
Amendment Description	This Amendment No. 1 on Form 10-Q/A-1 amends Marathon Digital Holdings, Inc. ("the Company") Quarterly Report on Form 10-Q ("the Original Form 10-Q') for the quarter ended March 31, 2021, which was previously filed with the U.S. Securities Exchange Commission ("SEC") on May 10, 2021. The Original Form 10-Q was filed on May 10, 2021 at 5:30 PM EST (SEC ACCESSION NUMBER: 0001493152-21-010910). Due to technical issues at the time of filing, the Form 10-Q was accepted without Exhibit 101 in accordance with Rule 405 of Regulation S-T and Officer Certifications exhibits. The purpose of this Amendment No.1 is to furnish Exhibit 101.
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		99,472,029
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 211,934,086	$ 141,322,776
Digital currencies	10,746,219	2,271,656
Other receivable		74,767,226
Deposit	128,869,316	65,647,592
Investment fund	281,822,950
Prepaid expenses and other current assets	2,513,812	2,399,965
Total current assets	635,886,383	286,409,215
Other assets:
Property and equipment, net of accumulated depreciation and impairment charges of $7,200,501 and $6,480,359 for March 31, 2021 and December 31, 2020, respectively	41,960,893	17,224,321
Prepaid service contract	7,854,000	8,415,000
Right-of-use assets		200,301
Intangible assets, net of accumulated amortization of $225,392 and $207,598 for March 31, 2021 and December 31, 2020, respectively	984,608	1,002,402
Total other assets	50,799,501	26,842,024
TOTAL ASSETS	686,685,884	313,251,239
Current liabilities:
Accounts payable and accrued expenses	985,968	999,742
Current portion of lease liability		121,596
Warrant liability	1,914,333	322,437
Total current liabilities	2,900,301	1,443,775
Long-term liabilities
SBA PPP loan payable	62,500	62,500
Total long-term liabilities	62,500	62,500
Total liabilities	2,962,801	1,506,275
Commitments and Contingencies
Stockholders' Equity:
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, no shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively
Common stock,$ 0.0001 par value; 200,000,000 shares authorized; 99,370,465 and 81,974,619 issued and outstanding at March 31, 2021 and December 31, 2020, respectively	9,937	8,197
Additional paid-in capital	716,862,400	428,242,763
Accumulated other comprehensive loss	(450,719)	(450,719)
Accumulated deficit	(32,698,535)	(116,055,277)
Total stockholders' equity	683,723,083	311,744,964
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 686,685,884	$ 313,251,239

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accumulated depreciation of property and equipment	$ 7,200,501	$ 6,480,359
Accumulated amortization of intangible assets	$ 225,392	$ 207,598
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	99,370,465	81,974,619
Common stock, shares outstanding	99,370,465	81,974,619

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Total revenues	$ 9,152,815	$ 592,487
Operating costs and expenses
Cost of revenue	2,406,415	1,153,241
Compensation and related taxes	52,405,786	233,657
Consulting fees	113,606	41,812
Professional fees	313,032	146,642
General and administrative	307,191	108,937
Impairment of cryptocurrencies	662,199
Total operating expenses	56,208,229	1,684,289
Operating loss	(47,055,414)	(1,091,802)
Other income (expenses)
Other income	(1,470)	106,408
Change in fair value of investment in NYDIG fund	131,822,950
Realized gain (loss) on sale of digital currencies	(54)	(4,221)
Change in fair value of warrant liability	(1,591,895)	9,786
Change in fair value of mining payable		(66,548)
Interest income	183,828	1,880
Interest expense	(1,203)	(13,435)
Total other (expenses) income	130,412,156	33,870
Income (loss) before income taxes	83,356,742	(1,057,932)
Income tax expense
Net income (loss)	$ 83,356,742	$ (1,057,932)
Net income (loss) per share, basic:	$ 0.88	$ (0.12)
Net income (loss) per share, diluted:	$ 0.87	$ (0.12)
Weighted average shares outstanding, basic:	94,350,216	8,655,525
Weighted average shares outstanding, diluted:	96,251,240	8,655,525
Cryptocurrency Mining Revenue [Member]
Revenues
Total revenues	$ 9,152,815	$ 592,487

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income Loss [Member]	Total
Beginning balance at Dec. 31, 2019		$ 846	$ 109,705,051	$ (105,607,506)	$ (450,719)	$ 3,647,672
Beginning balance, shares at Dec. 31, 2019		8,458,781
Stock based compensation			23,238			23,238
Stock based compensation, shares
Issuance of common stock, net of offering costs/At-the-market offering		$ 41	385,076			385,117
Issuance of common stock, net of offering costs/At-the-market offering, shares		403,075
Common stock issued for purchase of mining servers		$ 35	171,587			171,622
Common stock issued for purchase of mining servers, shares		350,250
Net income				(1,057,931)		(1,057,932)
Ending balance at Mar. 31, 2020		$ 922	110,284,952	(106,665,437)	(450,719)	3,169,718
Ending balance, shares at Mar. 31, 2020		9,212,106
Beginning balance at Dec. 31, 2019		$ 846	109,705,051	(105,607,506)	(450,719)	3,647,672
Beginning balance, shares at Dec. 31, 2019		8,458,781
Issuance of common stock, net of offering costs/At-the-market offering						$ 297,659,270
Issuance of common stock, net of offering costs/At-the-market offering, shares						474,808
Ending balance at Dec. 31, 2020		$ 8,197	428,242,763	(116,055,277)	(450,719)	$ 311,744,964
Ending balance, shares at Dec. 31, 2020		81,974,619
Stock based compensation		$ 470	51,031,125			51,031,595
Stock based compensation, shares		4,701,442
Issuance of common stock, net of offering costs/At-the-market offering		$ 1,250	237,428,369			237,429,619
Issuance of common stock, net of offering costs/At-the-market offering, shares		12,500,000
Warrant exercised for cash		$ 17	160,145			160,162
Warrant exercised for cash, shares		170,904
Options exercised for common stock		$ 2	(2)
Options exercised for common stock, shares		23,500				25,000
Net income				83,356,742		$ 83,356,742
Ending balance at Mar. 31, 2021		$ 9,937	$ 716,862,400	$ (32,698,535)	$ (450,719)	$ 683,723,083
Ending balance, shares at Mar. 31, 2021		99,370,465

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 83,356,742	$ (1,057,932)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	720,142	510,781
Amortization of patents and website	17,794	17,794
Amortization of prepaid service contract	561,000
Realized gain (loss) on sale of digital currencies	54	4,221
Change in fair value of warrant liability	1,591,895	(9,786)
Change in fair value of mining payable		66,548	$ 66,547
Change in fair value of investment securities	(131,822,950)
Impairment of cryptocurrencies	662,199
Stock based compensation	51,031,595	23,238
Loss on cancellation of lease	80,809
Amortization of right-of-use assets	16,597	24,114
Changes in operating assets and liabilities:
Other receivables		(117,811)
Digital currencies	(9,152,816)	(474,676)
Lease liability	(18,701)	(24,365)
Prepaid expenses and other assets	(113,847)	(108,324)
Accounts payable and accrued expenses	(13,775)	73,961
Net cash used in operating activities	(3,083,261)	(1,072,237)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale of digital currencies	16,000	468,703
Purchase of investment securities	(150,000,000)
Purchase of property and equipment	(25,456,714)
Deposits for the purchase of mining servers	(63,221,724)		(65,647,592)
Net cash (used in) provided by investing activities	(238,662,438)	468,703
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock/At-the-market offering	327,103,650	401,891
Offering costs for the issuance of common stock/At-the-market offering	(14,906,805)	(16,774)
Proceeds received on exercise of warrants	160,164
Net cash provided by financing activities	312,357,009	385,117
Net increase (decrease) in cash and cash equivalents	70,611,310	(218,417)
Cash and cash equivalents - beginning of period	141,322,776	692,963	692,963
Cash and cash equivalents - end of period	211,934,086	474,546	$ 141,322,776
Supplemental schedule of non-cash investing and financing activities:
Common stock issued for purchase of mining servers		171,622
Reduction of share commitment for purchase of mining servers		408,625
Options exercised into common stock	$ 2

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Organization Marathon Digital Holdings, Inc. (the “Company”) was incorporated in the State of Nevada on February 23, 2010 under the name Verve Ventures, Inc. On December 7, 2011, the Company changed its name to American Strategic Minerals Corporation and were engaged in exploration and potential development of uranium and vanadium minerals business. In June 2012, the Company discontinued the minerals business and began to invest in real estate properties in Southern California. In October 2012, the Company discontinued its real estate business when the former CEO joined the firm and the Company commenced IP licensing operations, at which time the Company’s name was changed to Marathon Patent Group, Inc. On November 1, 2017, the Company entered into a merger agreement with Global Bit Ventures, Inc. (“GBV”), which is focused on mining digital assets. The Company purchased cryptocurrency mining machines and established a data center in Canada to mine digital assets. The Company expanded its activities in the mining of new digital assets, while at the same time harvesting the value of its remaining IP assets. As of October 2020, the financial operations were brought in house and are completed by the Company’s accounting team that consists of a Chief Financial Officer, Chief Operating Officer and bookkeeper. Subsequent to December 31, 2020, the Company hired a full-time Controller. We have also moved all of our data mining operations to our new facility in Hardin Montana. The Company’s Board of Directors adopted the reverse stock split approved by its shareholders at its December 2018 Board Meeting. Upon the effectiveness of the reverse stock split, every four shares of issued and outstanding common stock before the open of business on April 8, 2019 was combined into one issued and outstanding share of common stock, with no change in par value per share. All share and per share values for all periods presented in the accompanying consolidated financial statements have been retroactively adjusted to reflect the 1:4 Reverse Split. On January 1, 2018, our Board adopted the 2018 Equity Incentive Plan, subsequently approved by the stockholders on March 7, 2018, pursuant to which up to 625,000 shares of common stock, stock options, restricted stock, preferred stock, stock-based awards and other awards are reserved for issuance as awards to employees, directors, consultants, advisors and other service providers. On May 21, 2019, the Company received notice from the Nasdaq Capital Market (the “Capital Market”) that the Company has failed to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing as required under Listing Rule 5550(b)(1) as its Form 10-Q for the period ended March 31, 2019 reported stockholders’ equity of $2,158,192. On July 23, 2019, we announced Nasdaq approved the Company’s plan to regain compliance, and the Company was required to file its Form 10-Q for the period ending September 30, 2019 with the SEC on or before November 13, 2019, which it did, evidencing compliance with the stockholders’ equity requirement. On March 31, 2020, the Company consummated the purchase of 6000 S-9 Bitmain 13.5 TH/s Bitcoin Antminers (“Miners”) from SelectGreen Blockchain Ltd., a British Columbia corporation, for which the purchase price was $4,086,250 or 2,335,000 shares of its common stock at a price of $1.75 per share. As a result of an exchange cap requirement imposed in conjunction with the Company’s Listing of Additional Shares application filed with Nasdaq to the transaction, the Company issued 1,276,442 shares of its common stock which represented $2,233,773 of the $4,086,250 (constituting 19.9% of the issued and outstanding shares on the date of the Asset Purchase Agreement) and upon the receipt of shareholder approval, at the Annual Shareholders Meeting to be held on November 15, 2019, the Company can issue the balance of the 1,058,558 unregistered common stock shares. The shareholders did approve the issuance of the additional shares at the Annual Shareholders Meeting. The Company has issued an additional 474,808 at $0.90 per share. The $513,700 set forth on the balance sheet for mining servers payable reflects the fair value of 583,750 shares to be issued at $0.88 per share to conclude the purchase of the Miners at December 31, 2020. The Company recorded change in fair value of mining payable of $66,547 and $507,862 during the year ended December 31, 2020 and 2019, respectively. There is no requirement for the Company to make a payment in cash in lieu of issuing the remaining shares. Subsequent to year end, on January 14, 2021, the Company sold its inventory of approximately 5,900 S9, 13.5 TH/s miners. As such, management determined that those crypto-currency machines were impaired by a total of $871,302 based upon an assessment as of December 31, 2020. The Company believes that bitcoin is attractive because it can serve as a store of value, supported by a robust and public open source architecture, that is untethered to sovereign monetary policy and can therefore serve as a hedge against inflation. Bitcoin exists entirely in electronic form, as virtually irreversible public transaction ledger entries on the blockchain, and transactions in bitcoin are recorded and authenticated not by a central repository, but by a decentralized peer-to-peer network. This decentralization avoids certain threats common to centralized computer networks, such as denial of service attacks, and reduces the dependency of the bitcoin network on any single system. While the bitcoin network as a whole is decentralized, the private keys used to access bitcoin balances are not widely distributed and are held on hardware (which can be physically controlled by the holder or by a third party such as a custodian) or via software programs on third-party servers and loss of such private keys results in an inability to access, and effective loss of, the corresponding bitcoin. Consequently, bitcoin holdings are susceptible to all of the risks inherent in holding any electronic data, such as power failure, data corruption, security breach, communication failure, and user error, among others. These risks, in turn, make bitcoin subject to theft, destruction, or loss of value from hackers, corruption, or technology-specific factors such as viruses that do not affect conventional fiat currency. In addition, the bitcoin network relies on open source developers to maintain and improve the bitcoin protocol. Accordingly, bitcoin may be subject to protocol design changes, governance disputes such as “forked” protocols, competing protocols, and other open source-specific risks that do not affect conventional proprietary software. The Company believes that in the context of the economic and public health crisis precipitated by COVID-19 and the unprecedented government financial stimulus measures adopted around the world, decreasing interest rates, as well as the breakdown of trust in and between political institutions and political parties in the United States and globally, bitcoin represents a more attractive store of value than fiat currency, and further that opportunity for appreciation in the value of bitcoin exists in the event that such factors lead to even more widespread adoption of bitcoin as a treasury reserve alternative. On May 11, 2020, the Company purchased 700 new generation M305+ASIC Miners from MicroBT for approximately $1.3 million. The 700 miners produce 80/Th and will generate 56 PH/s (petahash) of hashing power, compared to the Company’s current S-9 production of 46 PH/s. These next generation MicroBT ASIC miners are markedly more energy efficient than our existing Bitmain models. These miners were delivered to the Company’s Hosting Facility in June and are producing Bitcoins. The Company purchased 660 latest generation Bitmain S19 Pro Miners on May 12, 2020, 500 units on May 18, 2020 and an additional 500 units on June 11, 2020. These miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, compared to the Company’s S-9 production of 46 PH/s. The Company made the payments of approximately $4.2 million in the second quarter of 2020 and received 660 of the 1,660 units at its Hosting Facility in August, and its hosting partner, Compute North, had installed them upon their arrival. Of the 1,000 remaining S-19 Pro Miners due to arrive in the 4 th th On July 29, 2020, the Company announced the purchase of 700 next generation M31S+ASIC Miners from MicroBT. The miners arrived mid-August. On August 13, 2020, the Company entered into a Long Term Purchase Contract with Bitmaintech PTE., LTD (“Bitmain”) for the purchase of 10,500 next generation Antminer S-19 Pro ASIC Miners. The purchase price per unit is $2,362 ($2,206 with a 6.62% discount) for a total gross purchase price of $24,801,000. The parties confirm that the total hashrate of the Antminers under this agreement shall not be less than 1,155,000 TH/s. Subsequent to executing this agreement, due to the additional executed contracts, Bitmain applied a total net discount of 8.63% to the purchase price adjusting the amount due to $22,660,673. The Company shall pay for the Antminers as follows: (1) Twenty percent (20%) of the total purchase price shall be paid as a nonrefundable down payment within forty-eight (48) hours of execution of the agreement. (2) The Company shall pay the twenty percent (20%) of the total purchase price prior to September 20, 2020. (3) The Company shall pay the ten percent (10%) of the total purchase price prior to October 10, 2020. (4) The Company shall pay the remaining fifty percent (50%) of the total purchase price in equal monthly installments due not less than fifty-five (55) days prior to the scheduled delivery of the Product(s) as follows: a) eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the first installment of products to be shipped to the Company in January 2021. b) eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the second installment of the products to be shipped to the Company in February 2021. c) eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the third installment of the products to be shipped to the Company in March 2021. d) eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the fourth installment of the products to be shipped to the Company in April 2021. e) eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the fifth installment of the products to be shipped to the Company in May 2021. f) eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the sixth installment of the products to be shipped to the Company in June 2021. Subject to the timely payment of the purchase price, Bitmain shall deliver products according to the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021. As of March 31, 2021, the Company has paid $22,660,679 of the total balance of $22,660,679. On October 6, 2020, the Company entered into a series of agreements with affiliates of Beowulf Energy LLC, a Delaware limited liability company (collectively and as applicable, “Beowulf”) and Two Point One, LLC, a Delaware limited liability company (“2Pl”; Marathon, Beowulf and 2Pl each a “Party” and, collectively, the “Parties”). Beowulf and 2Pl have been designing and developing a data center facility of up to 100-megawatts (the “Facility”) that will be located next to, and supplied energy directly from, Beowulf’s power generating station in Hardin, MT (the “Hardin Station”). The Facility is being developed in two phases to reach its 100 MW capacity, and the Hardin Station will supply the Facility exclusively with energy to operate Bitcoin mining servers. The projected build out cost for Phase I is approximately $23 million, which is front loaded as the infrastructure is being built for the full 100 MW project. Phase I accounts for 70 MW of the 100 MW project. It entails high voltage equipment to break down the full 100 MW load from the generating station, and thereafter, the infrastructure cost per MW is a matter of distributing power at a container level. Phase II accounts for 30 MW of the 100 MW project and is anticipated to cost approximately $9 million. The total projected build out cost for the full 100 MW project is approximately $32 million. These are all in costs covering all equipment and labor needed starting from the power coming off the Generating Station distributed down to running the actual miners: including breakers, transformers, switches, containers, PDUs, fans, network cables, and the like. Marathon and Beowulf entered into an exclusive Power Purchase Agreement for the initial supply of 30 MW (Phase I), and up to 100 MW in the aggregate (Phase II), of energy load to the Facility at a cost of $0.028/kWh. The initial term of the Power Purchase Agreement is five years, with up to five additional three-year extensions, as mutually agreed, assuming 75% energy utilization of the initial 30 MW of energy supplied to the Facility. Marathon purchased certain mining infrastructure and equipment for the Facility from Beowulf for a purchase price of $750,000, and Marathon has the right, at no additional cost, to construct and access the Facility on land adjacent to the Hardin Station pursuant to a lease agreement with Beowulf. After the execution of the contract, the Company entered into additional miner purchase agreements. Due to the increased size of the Company’s fleet of miners, Phase I was increased from the initial 30 MW to 70 MW, while Phase II will encompass the completion of the remaining 30 MW for the project. Beowulf and 2P1 will provide operation and maintenance services for the Facility pursuant to a Data Facility Services Agreement, in exchange for an initial issuance of 3,000,000 shares of Marathon’s common stock to each of Beowulf and 2Pl valued at the time of execution at $1.87 per share or $11,220,000 in aggregate. Upon completion of Phase I, Marathon will issue to Beowulf an additional 150,000 shares of its common stock. During Phase II, Marathon will issue to Beowulf an additional 350,000 shares of its common stock – 150,000 shares upon reaching 60 MW of Facility load and 200,000 at completion of the full 100 MW of Facility load. The cost to maintain and run the Facility will be $0.006/kWh. All shares issued under the Data Facility Services Agreement are issued pursuant to transactions exempt from registration under Section 4(a)(2) of the Securities Act of 1933. Effective October 19, 2020, David Lieberman retired as the Company’s Chief Financial Officer, and Simeon Salzman was appointed Chief Financial Officer. On October 23, 2020, the Company executed a contract with Bitmain to purchase an additional 10,000 next generation Antminer S-19 Pro ASIC Miners. The 2021 delivery schedule will be 2,500 Units in January, 4,500 Units in February and the final 3,000 Units in March 2021.The gross purchase price is $23,620,000 with 30% due upon the execution of the contract and the balance paid over the next 4 months. Subsequent to executing this agreement, due to the additional executed contracts, Bitmain applied a discount of 8.63% to the purchase price adjusting the amount due to $21,581,594. As of March 31, 2021, the Company has paid $21,581,594 of the total balance of $21,581,594. As of the November 12, 2020, the Company sold all shares of our common stock available thereunder for an aggregate purchase price of $100,000,000 under our 2020 At the Market Offering pursuant to our registration statement on Form S-3 declared effective by the SEC on August 6, 2020, which was the total amount available for sale thereunder. On December 8, 2020, the Company executed a contract with Bitmain to purchase an additional 10,000 next generation Antminer S-19j Pro ASIC Miners, with 6,000 units to be delivered in August 2021, and the remaining 4,000 units to be delivered in September 2021. The gross purchase price is $$23,770,000 with 10% of the purchase price due within 48 hours of execution of the contract, 30% due on January 14, 2021, 10% due on February 15, 2021, 30% due on June 15, 2021 and 20% due on July 15, 2021. Subsequent to executing this agreement, due to the additional executed contracts, Bitmain applied a discount of 8.63% to the purchase price adjusting the amount due to $21,718,649. As of March 31, 2021, the Company has paid $10,859,330 of the total balance of $21,718,649. On December 11, 2020, the Company entered into an At The Market Agreement with HC Wainwright for up to $200,000,000. On January 12, 2021, the Company also announced that it had successfully completed its previously announced $200 million shelf offering by utilizing its at-the-market (ATM) facility. As a result, the Company ended the 2020 fiscal year with $141.3 million in cash and 81,974,619 shares outstanding. On December 23, 2020, the Company executed a contract with Bitmain to purchase an additional 70,000 next generation Antminer S-19 ASIC Miners, with 7,000 units to be delivered in July 2021, and the remaining 63,000 units to be delivered in December 2021. The purchase price is $167,763,451. The purchase price for the miners shall be paid as follows: 20% within 48 hours of signing of contract; 30% on or before March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15, 2021; 10.19% on September 15, 2021; 17.63% on October 15, 2021 and 11.55% on November 15, 2021. As of March 31, 2021, the Company has paid $83,881,726 of the total balance of $167,763,452. On December 31, 2020, the Company sold 6,632,712 shares of common stock pursuant to the At The Market offering. Proceeds of $77.1 million net of offering costs of $2.3 million were received on January 4, 2021. Due to the timing of the proceeds received, an other current receivable was recorded in an amount of $74.8 million. As of March 31, 2021, this amount was received in full. Effective December 31, 2020, the Board of Directors of the Company ratified the following arrangements approved by its Compensation Committee: Merrick Okamoto, CEO was awarded a cash bonus of $2,000,000 which was paid before year end 2020. He was also awarded a special bonus of 1,000,000 RSUs with immediate vesting. He was given a new three-year employment agreement effective January 1, 2021 with the same salary and bonus as the prior agreement. He was also granted the following: award of 1,000,000 RSUs when the company’s market capitalization reaches and sustains a market capitalization for 30 consecutive days above $500,000,000; award of 1,000,000 RSUs priced when the company’s market capitalization reaches and sustains a market capitalization for 30 consecutive days above $750,000,000; award of 2,000,000 RSUs priced at lowest closing stock price in past 30 trading days when the company’s market capitalization reaches and sustains a market capitalization for 30 consecutive days above $1,000,000,000; and award of 2,000,000 RSUs when the Company’s market capitalization reaches and sustains a market capitalization for 30 consecutive days above $2,000,000,000. As of March 12, 2021, Mr. Okamoto had earned all bonuses set forth, and as a result of the maximum shares available under the Company’s 2018 Equity Incentive Plan having been issued, he is owed an additional 2,547,392 RSUs, for which the Company will, within 15 business days of the date of this report, file a proxy statement on Schedule 14A to hold an annual or special meeting of shareholders to gain shareholder approval to increase the number of shares available under the Plan in a sufficient number to cover issuance of these 2,547,392 RSUs. Sim Salzman, CFO, was granted a bonus payment of $40,000 in cash; and a bonus of 91,324 RSUs with immediate vesting. James Crawford, COO, was granted a bonus payment of $127,308 in cash and a stock bonus of 57,990 RSUs with immediate vesting. Furthermore, per his employment agreement, his base salary for the 2021 will be increased by 3%. Compensation for directors of the board for 2021 as follows: (i) cash compensation of $60,000 per year for each director, plus an additional $15,000 per year for each committee chair, paid 25% at the end of each calendar quarter; (ii) for existing directors, the equivalent of $120,000 annually in RSUs; and (iii) for newly elected directors, a one-time grant of $200,000 in RSUs, vesting 25% each calendar quarter during 2021. For clarification, new directors will also receive the same annual compensation as existing directors in addition to their one time grant. On January 6, 2021, the Company issued 566,279 shares pursuant to the 2018 Equity Incentive Plan for shares that vested as of December 31, 2020. Subsequent to year end, the Company issued 170,904 and 23,500 shares of common stock pursuant to warrant and option exercises, respectively. On January 12, 2021, the Company also announced that it had successfully completed its previously announced $200 million shelf offering by utilizing its at-the-market (ATM) facility. Pursuant to the terms of the offering 12,500,000 shares of common stock were issued at a value of $20 per share. As a result, the Company ended the 2020 fiscal year with $141.3 million in cash and 81,974,619 shares outstanding. On January 12, 2021, the Company, entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain purchasers named therein (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “Offering”), 12,500,000 shares of its common stock (the “Securities”) at an offering price of $20.00 per share. The Purchase Agreement contains customary representations and warranties and agreements of the Company and the Purchasers and customary indemnification rights and obligations of the parties. The closing of the Offering occurred on January 15, 2021. The Company received gross proceeds of $250,000,000 in connection with the Offering, before deducting placement agent fees and related offering expenses. Effective January 19, 2021, David Lieberman resigned as a director of the Company. On the same date, the Company’s Board appointed Kevin DeNuccio as a director to fill the vacancy created by Mr. Lieberman’s resignation. Mr. DeNuccio is the Founder and General Partner of Wild West Capital LLC since 2012 where he focused on angel investments, primarily in SAAS software start-ups. He brings to Marathon more than 25 years of experience as a chief executive, global sales leader, public and private board member, and more than a dozen angel investments, managing and growing leading technology businesses. He served in senior executive positions with Verizon, Cisco Systems, Ericsson, Redback Networks, Wang Laboratories and Unisys Corporation. On January 25, 2021, the Company announced that it has purchased 4,812.66 BTC in an aggregate purchase price of $150 million through an investment fund of one managed by NYDIG as the general partner, while the Company retains 100% of the limited partner interests. On February 11, 2021, the Company issued 4,701,442 shares of common stock pursuant to the Effective March 1, 2021, the Company changed its name to Marathon Digital Holdings, Inc. On March 7, 2021, the Company entered into a termination agreement with the 9349-0001 Quebec Inc., to agree to terminate the outstanding lease. As of that date, the Company was fully released and discharged from any and all obligations under the Lease Agreement. In November 2017, the Company assumed a lease in connection with the mining operations in Quebec, Canada. On April 26, 2021, the Company appointed Fred Thiel as its new chief executive officer. Mr. Thiel will succeed Merrick Okamoto, who has served as the Company’s chief executive officer since 2018, and who will serve as executive chairman of the board of directors following the transition. Liquidity and Financial Condition The Company’s consolidated condensed financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As of March 31, 2021, the Company had approximately $212,000,000 in cash on hand. At March 31, 2021, we carried $292.6 million of digital assets on our balance sheet as digital currencies and investment fund, which include cumulative impairments of $662k, consisting of the approximately 5,130 bitcoins, and held $211.9 million in cash and cash equivalents, compared to $2.3 million of digital assets and $141.3 million in cash and cash equivalents at December 31, 2020, reflecting the shift in our liquid assets. As of May 10, 2021, we held approximately 5,290 bitcoins, of which, 4,812.66 bitcoins were acquired at an aggregate purchase price of $150 million at an average purchase price of approximately $31,137 per bitcoin, inclusive of fees and expenses. These purchased bitcoins are held in an investment fund of one where the Company is the sole limited partner. We expect to purchase additional bitcoin held by the investment fund in future periods, though we may also sell bitcoin in future periods as needed to generate Cash Assets for treasury management purposes. On January 12, 2021, the Company, entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain purchasers named therein (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “Offering”), 12,500,000 shares of its common stock (the “Securities”) at an offering price of $20.00 per share. The closing of the Offering occurred on January 15, 2021. The Company received gross proceeds of $250,000,000 in connection with the Offering, before deducting placement agent fees and related offering expenses. The impact of the worldwide spread of a novel strain of coronavirus (“COVID 19”) has been and continues to be unprecedented and unpredictable, but based on the Company’s current assessment, the Company does not expect any material impact on its long-term strategic plans, operations and its liquidity due to the worldwide spread of COVID-19. However, the Company is continuing to assess the effect on its operations by monitoring the spread of COVID-19 and the actions implemented to combat the virus throughout the world and its assessment of the impact of COVID-19 may change.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated condensed financial statements, including the accounts of the Company’s subsidiaries, Marathon Crypto Mining, Inc., Crypto Currency Patent Holding Company and Soems Acquisition Corp., have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. These consolidated condensed financial statements reflect all adjustments (consisting only of normal recurring adjustments) which, in the opinion of management, are necessary to present fairly the financial position, the results of operations and cash flows of the Company for the periods presented. It is suggested that these consolidated condensed financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s most recent Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year ended December 31, 2021. Use of Estimates and Assumptions The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, estimating the useful lives of patent assets and fixed assets, the assumptions used to calculate fair value of warrants and options granted, realization of long-lived assets, deferred income taxes, unrealized tax positions and the realization of digital currencies. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Digital Currencies Digital currencies are included in current assets in the consolidated balance sheets. Digital currencies are recorded at cost less impairment. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Halving – The bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “Halving”. The last halving for bitcoin occurred on May 12, 2020. Many factors influence the price of bitcoin and potential increases or decreases in prices in advance of or following a future halving is unknown. The following table presents the activities of the digital currencies for the three months ended March 31, 2021: Digital currencies at December 31, 2020 $ 2,271,656 Additions of digital currencies 9,152,816 Realized gain on sale of digital currencies (54 ) Impairment of cryptocurrencies (662,199 ) Sale of digital currencies (16,000 ) Digital currencies at March 31, 2021 $ 10,746,219 Investment Fund In 2016, the FASB issued Accounting Standards Update (ASU) 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, On January 25, 2021, the Company entered into a limited partnership agreement with NYDIG Digital Assets Fund III, LP (“fund”) whereas the fund purchased 4,812.66 BTC in an aggregate purchase price of $150 million. The Company owns 100% of the limited partnership interest. The investment fund is Each Fund qualifies and operates as an investment company for accounting purposes pursuant to the accounting and reporting guidance under ASC 946, Financial Services – Investment Companies, which requires fair value measurement of the Fund’s investments in digital assets. The digital assets held by each Fund are traded on a number of active markets globally, including the over-the-counter (“OTC”) market and digital asset exchanges. A fair value measurement under ASC 820 for an asset assumes that the asset is exchanged in an orderly transaction between market participants either in the principal market for the asset or, in the absence of a principal market, the most advantageous market for the asset (ASC 820-10-35-5). An entity must have access to the principal (or most advantageous) market at the measurement date (ASC 820-10-35-6A). Fair Value of Financial Instruments The Company measures at fair value certain of its financial and non-financial assets and liabilities by using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, essentially an exit price, based on the highest and best use of the asset or liability. The levels of the fair value hierarchy are: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The carrying amounts reported in the consolidated balance sheet for cash, accounts receivable, accounts payable, and accrued expenses, approximate their estimated fair market value based on the short-term maturity of these instruments. The carrying value of notes payable and other long-term liabilities approximate fair value as the related interest rates approximate rates currently available to the Company. Financial assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level of input that is significant to their fair value measurement. The Company measures the fair value of its marketable securities and investments by taking into consideration valuations obtained from third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs included reported trades of and broker-dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of March 31, 2021 and December 31, 2020, respectively: Fair value measured at March 31, 2021 Total carrying value at March 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2021 (Level 1) (Level 2) (Level 3) Assets Investment Fund $ 281,822,950 $ 281,822,950 Liabilities Warrant liability $ 1,914,333 $ - $ - $ 1,914,333 Fair value measured at December 31, 2020 Total carrying value at December 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2020 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ 322,437 $ - $ - $ 322,437 There were no transfers between Level 1, 2 or 3 during the three months ended March 31, 2021. Fair value of warrant liabilities At March 31, 2021, the Company had an outstanding warrant liability in the amount of $1,914,332 associated with warrants that were issued in January 2017 and January 2021 and warrants issued related to the Convertible Notes issued in August and September of 2017. The following table rolls forward the fair value of the Company’s warrant liability, the fair value of which is determined by Level 3 inputs for the three months ended March 31, 2021. Fair value Outstanding as of December 31, 2020 $ 322,437 Change in fair value of warrants 1,591,896 Outstanding as of March 31, 2021 $ 1,914,333 Net Income and Basic and Diluted Net Income per Share Net income for the three months ended March 31, 2021 is $ 83,356,742, however approximately $132 million of that income was generated as an unrealized gain from the change in value of our “fund of one” investment. In addition, the Company had previously generated NOL carry-forwards for federal and state purposes of approximately $45.6 million and $27.2 million, respectively. As such, the Company would not owe corporate income taxes as of March 31, 2021. Net income per common share is calculated in accordance with ASC Topic 260: Earnings Per Share (“ASC 260”). Basic income per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The computation of diluted net incomes per share does not include dilutive common stock equivalents in the weighted average shares outstanding, as they would be anti-dilutive. Computation of potential shares for the diluted earning (loss) per share calculation at March 31, 2021 and 2020 are as follows: As of March 31, 2021 2020 Warrants to purchase common stock 448,790 164,222 Options to purchase common stock 81,120 1,727,682 Convertible notes to exchange common stock - 1,248,883 Total 529,910 3,140,787 The following table sets forth the computation of basic and diluted loss per share: For the Three Months Ended March 31, 2021 2020 Net income (loss) attributable to common shareholders $ 83,356,742 $ (1,057,931 ) Denominator: Weighted average common shares - basic 94,350,216 8,655,525 Weighted average common shares - diluted 96,251,240 8,655,525 Income (loss) per common share - basic $ 0.88 $ (0.12 ) Income (loss) per common share - diluted $ 0.87 $ (0.12 ) Sequencing In connection with August 14, 2017 Convertible Note financing, the Company adopted a sequencing policy whereby all future instruments may be classified as a derivative liability with the exception of instruments related to share-based compensation issued to employees or directors. This convertible note was satisfied in full during the second quarter of 2020, therefore as of March 31, 2021, no future instruments are subject to the Company sequencing policy. Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”)” Any new accounting standards, not disclosed above, that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

Deposit, Property and Equipment

Deposit, Property and Equipment and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Deposit Property And Equipment And Intangible Assets
Deposit, Property and Equipment and Intangible Assets	NOTE 5 - DEBT, COMMITMENTS AND CONTINGENCIES Leases Effective June 1, 2018, the Company rented its corporate office at 1180 North Town Center Drive, Suite 100, Las Vegas, Nevada 89144, on a month to month basis. The monthly rent is $1,997. A security deposit of $3,815 has been paid. The Company also assumed a lease in connection with the mining operations in Quebec, Canada. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, and noncurrent operating lease liabilities on the balance sheets. On March 7, 2021, the Company entered into a termination agreement with the 9349-0001 Quebec Inc., to agree to terminate the outstanding lease. As of that date, the Company was fully released and discharged from any and all obligations under the Lease Agreement. Due to the lease termination, the Company incurred a loss on cancellation in an amount of approximately $81,000. Operation lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following: For the Three Months Ended March 31, 2021 March 31, 2020 Operating leases Operating lease cost $ 18,701 $ 26,789 Operating lease expense 18,701 26,789 Short-term lease rent expense 6,687 5,992 Total rent expense $ 25,388 $ 32,781 Additional information regarding the Company’s leasing activities as a lessee is as follow: For the Three Months Ended March 31, 2021 March 31, 2020 Operating cash flows from operating leases $ - $ 26,823 Weighted-average remaining lease term – operating leases - 1.5 Weighted-average discount rate – operating leases 0.0 % 6.5 % As of March 31, 2021, contractual minimal lease payments are nil. Legal Proceedings Feinberg Litigation On March 27, 2018, Jeffrey Feinberg, purportedly joined by the Jeffrey L. Feinberg Personal Trust and the Jeffrey L. Feinberg Family Trust, filed a complaint against the Company and certain of its former officers and directors. The complaint was filed in the Supreme Court of the State of New York, County of New York. The plaintiffs purported to state claims under Sections 11, 12(a)(2) and 15 of the federal Securities Act of 1933 and common law claims for “actual fraud and fraudulent concealment,” constructive fraud, and negligent misrepresentation, seeking unspecified money damages (including punitive damages), as well as costs and attorneys’ fees, and equitable or injunctive relief. On June 15, 2018, the defendants filed a motion to dismiss all claims asserted in the complaint and, on July 27, 2018, the plaintiffs filed an opposition to that motion. The court heard argument on the motion and, on January 15, 2019, the court granted the motion to dismiss, allowing 30 days for the filing of an amended complaint. On February 15, 2019, Jeffrey Feinberg, individually and as trustee of the Jeffrey L. Feinberg Personal Trust, and Terrence K. Ankner, as trustee of the Jeffrey L. Feinberg Family Trust, filed an amended complaint that purports to state the same claims and seeks the same relief sought in the original complaint. On March 7 and 22, 2019, defendants filed motions to dismiss the amended complaint and on April 5, 2019, plaintiffs filed an opposition to those motions. The court heard oral argument on the motions to dismiss on July 9, 2019, and at the conclusion of the argument the court took the motions under submission. On April 22, 2021, the Company was notified the appellate court affirmed the decision to dismiss the case in its entirety Ho Matter On January 14, 2021, Plaintiff Michael Ho (“Plaintiff” or “Ho”) filed a Civil Complaint for Damages and Restitution (“Complaint”) against Marathon Digital Holdings, Inc. (the “Company”) and 10 Doe Defendants. The Complaint alleges six causes of action against the Company, (1) Breach of Written Contract; (2) Breach of Implied Contract; (3) Quasi-Contract; (4) Services Rendered; (5) Intentional Interference with Prospective Economic Relations; and (6) Negligent Interference with Prospective Economic Relations, which is the one plead against “all Defendants” and is most likely to involve later named defendants. The claims arise from the same set of facts, Ho alleges that the Company profited from commercially-sensitive information he shared with the Company and then it refused to compensate him for his role in securing the acquisition of a supplier of energy for the Company. On February 22, 2021, the Company responded to Mr. Ho’s Complaint with a general denial and the assertion of applicable affirmative defenses. Then, on February 25, 2021, the Company removed the matter to federal court. The parties are currently engaged in discovery, including written discovery and depositions. Due to outstanding issues of fact and law, it is impossible to predict the outcome at this time; however, the Company is confident that it will prevail in this litigation since it did not have a contract with Mr. Ho and he did not disclose any commercially-sensitive information that was used to structure any joint venture with energy providers.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	NOTE 4 - STOCKHOLDERS’ EQUITY Common Stock Follow On Offering On July 23, 2020, the Company entered into an underwriting agreement with H.C. Wainwright. The Company agreed to sell H.C. Wainwright 7,666,666 shares of its common stock, including the exercise in full by H.C. Wainwright of the option to purchase an additional 999,999 shares of common stock, at a public offering price of $0.90 per share. The gross proceeds of this offering, which closed on July 28, 2020, were approximately $6.9 million, and proceeds, net of underwriting discount and expenses of $0.6 million, were $6.3 million. Additionally, representative’s warrant to purchase 536,667 shares of our common stock with a five year term and an exercise price of $1.125 per share were issued. Shelf Registration Statements on Form S-3 and At The Market Offering Agreements On August 13, 2020, the Company’s Shelf Registration Statement on Form S-3, filed on August 6, 2020, was declared effective by the SEC, along with the Company’s At The Market Offering Agreement, entered into by the Company and H.C. Wainwright & Co., LLC, as Exhibit 1.1 to the Form S-3 (the “2020 At The Market Agreement”). This 2020 At the Market Agreement establishes an at-the-market equity program pursuant to which the Company may offer and sell shares of its common stock, par value $0.0001 per share, with an aggregate offering price of up to $100 million, from time to time as set forth in the agreement. On December 22, 2020, the Company’s Shelf Registration Statement on Form S-3, filed on December 11, 2020, was declared effective by the SEC, along with the Company’s At The Market Offering Agreement, entered into by the Company and H.C. Wainwright & Co., LLC, as Exhibit 1.1 to the Form S-3 (the “2020 At The Market Agreement”). This 2020 At the Market Agreement establishes an at-the-market equity program pursuant to which the Company may offer and sell shares of its common stock, par value $0.0001 per share, with an aggregate offering price of up to $200 million, from time to time as set forth in the agreement. During the year ended December 31, 2020, 54,301,698 shares of common stock were issued under the Company’s 2020 At The Market Agreements for total proceeds of approximately $307.1 million, net of offering costs, of $9.4 million, and the Company has sold all shares possible under the Agreements. During the year ended December 31, 2019, 172,126 of common stock were issued under the Company’s 2019 At The Market Agreements for total proceeds of approximately $0.3 million, net of offering costs, of $0.01 million, and the Company has sold all shares possible under the Agreements. Registered Direct Offering On January 12, 2021, the Company, entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain purchasers named therein (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “Offering”), 12,500,000 shares of its common stock (the “Securities”) at an offering price of $20.00 per share. The Purchase Agreement contains customary representations and warranties and agreements of the Company and the Purchasers and customary indemnification rights and obligations of the parties. The closing of the Offering occurred on January 15, 2021. The Company received gross proceeds of $250,000,000 in connection with the Offering, before deducting placement agent fees and related offering expenses. Pursuant to a letter agreement, dated August 2020 (the “Engagement Letter”), the Company engaged H.C. Wainwright & Co., LLC (the “Placement Agent”) as placement agent in connection with the Offering. The Placement Agent agreed to use its reasonable best efforts to arrange for the sale of the Securities. The Company agreed to pay to the Placement Agent a cash fee of 5.0% of the aggregate gross proceeds raised in the Offering. T Pursuant to the terms of the Engagement Letter, the Placement Agent has the right, for a period of twelve months following the closing of the Offerings, to act (i) as financial advisor in connection with any merger, consolidation or similar business combination by the Company and (ii) as sole book-running manager, sole underwriter or sole placement agent in connection with certain debt and equity financing transactions by the Company. Series B Convertible Preferred Stock As of March 31, 2021, there were no shares of Series B Convertible Preferred Stock outstanding. Series E Preferred Stock There was no Series E Convertible Preferred Stock outstanding as of March 31, 2021. Common Stock Warrants A summary of the status of the Company’s outstanding stock warrants and changes during the three months ended March 31, 2021 is as follows : Number of Warrants Weighted Average Weighted Average Remaining Contractual Life Outstanding as of December 31, 2020 287,656 $ 12.64 2.7 Issued 375,000 25.00 4.8 Expired - - - Exercised (213,866 ) 7.49 3.1 Outstanding as of March 31, 2021 448,790 $ 25.42 4.1 Warrants exercisable as of March 31, 2021 448,790 $ 25.42 4.1 The aggregate intrinsic value of warrants outstanding and exercisable at March 31, 2021 was $ 10,151,602 Common Stock Options A summary of the stock options as of March 31, 2021 and changes during the period are presented below: Number of Shares Weighted Average Weighted Average Remaining Contractual Life Outstanding as of December 31, 2020 106,120 $ 44.32 4.28 Exercised (25,000 ) 2.04 - Outstanding as of March 31, 2021 81,120 $ 57.35 4.25 Options vested and expected to vest as of March 31, 2021 81,120 $ 57.35 4.25 Options vested and exercisable as of March 31, 2021 81,120 $ 57.35 4.25 The aggregate intrinsic value of options outstanding and exercisable at March 31, 2021 was $ 701,466 Restricted Stock A summary of the restricted stock award activity for the three months ended March 31, 2021 as follows : Number of Units Weighted Nonvested at December 31, 2020 566,279 $ 0.43 Granted 4,999,999 $ 10.44 Vested (5,289,594 ) $ 9.37 Nonvested at March 31, 2021 276,684 $ 10.44

Debt, Commitments and Contingen

Debt, Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Debt, Commitments and Contingencies	NOTE 5 - DEBT, COMMITMENTS AND CONTINGENCIES Leases Effective June 1, 2018, the Company rented its corporate office at 1180 North Town Center Drive, Suite 100, Las Vegas, Nevada 89144, on a month to month basis. The monthly rent is $1,997. A security deposit of $3,815 has been paid. The Company also assumed a lease in connection with the mining operations in Quebec, Canada. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, and noncurrent operating lease liabilities on the balance sheets. On March 7, 2021, the Company entered into a termination agreement with the 9349-0001 Quebec Inc., to agree to terminate the outstanding lease. As of that date, the Company was fully released and discharged from any and all obligations under the Lease Agreement. Due to the lease termination, the Company incurred a loss on cancellation in an amount of approximately $81,000. Operation lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following: For the Three Months Ended March 31, 2021 March 31, 2020 Operating leases Operating lease cost $ 18,701 $ 26,789 Operating lease expense 18,701 26,789 Short-term lease rent expense 6,687 5,992 Total rent expense $ 25,388 $ 32,781 Additional information regarding the Company’s leasing activities as a lessee is as follow: For the Three Months Ended March 31, 2021 March 31, 2020 Operating cash flows from operating leases $ - $ 26,823 Weighted-average remaining lease term – operating leases - 1.5 Weighted-average discount rate – operating leases 0.0 % 6.5 % As of March 31, 2021, contractual minimal lease payments are nil. Legal Proceedings Feinberg Litigation On March 27, 2018, Jeffrey Feinberg, purportedly joined by the Jeffrey L. Feinberg Personal Trust and the Jeffrey L. Feinberg Family Trust, filed a complaint against the Company and certain of its former officers and directors. The complaint was filed in the Supreme Court of the State of New York, County of New York. The plaintiffs purported to state claims under Sections 11, 12(a)(2) and 15 of the federal Securities Act of 1933 and common law claims for “actual fraud and fraudulent concealment,” constructive fraud, and negligent misrepresentation, seeking unspecified money damages (including punitive damages), as well as costs and attorneys’ fees, and equitable or injunctive relief. On June 15, 2018, the defendants filed a motion to dismiss all claims asserted in the complaint and, on July 27, 2018, the plaintiffs filed an opposition to that motion. The court heard argument on the motion and, on January 15, 2019, the court granted the motion to dismiss, allowing 30 days for the filing of an amended complaint. On February 15, 2019, Jeffrey Feinberg, individually and as trustee of the Jeffrey L. Feinberg Personal Trust, and Terrence K. Ankner, as trustee of the Jeffrey L. Feinberg Family Trust, filed an amended complaint that purports to state the same claims and seeks the same relief sought in the original complaint. On March 7 and 22, 2019, defendants filed motions to dismiss the amended complaint and on April 5, 2019, plaintiffs filed an opposition to those motions. The court heard oral argument on the motions to dismiss on July 9, 2019, and at the conclusion of the argument the court took the motions under submission. On April 22, 2021, the Company was notified the appellate court affirmed the decision to dismiss the case in its entirety Ho Matter On January 14, 2021, Plaintiff Michael Ho (“Plaintiff” or “Ho”) filed a Civil Complaint for Damages and Restitution (“Complaint”) against Marathon Patent Group, Inc. (the “Company”) and 10 Doe Defendants. The Complaint alleges six causes of action against the Company, (1) Breach of Written Contract; (2) Breach of Implied Contract; (3) Quasi-Contract; (4) Services Rendered; (5) Intentional Interference with Prospective Economic Relations; and (6) Negligent Interference with Prospective Economic Relations, which is the one plead against “all Defendants” and is most likely to involve later named defendants. The claims arise from the same set of facts, Ho alleges that the Company profited from commercially-sensitive information he shared with the Company and then it refused to compensate him for his role in securing the acquisition of a supplier of energy for the Company. On February 22, 2021, the Company responded to Mr. Ho’s Complaint with a general denial and the assertion of applicable affirmative defenses. Then, on February 25, 2021, the Company removed the matter to federal court. The parties are currently engaged in discovery, including written discovery and depositions. Due to outstanding issues of fact and law, it is impossible to predict the outcome at this time; however, the Company is confident that it will prevail in this litigation since it did not have a contract with Mr. Ho and he did not disclose any commercially-sensitive information that was used to structure any joint venture with energy providers.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 6 – Subsequent Events The Company has evaluated subsequent events through the date the consolidated financial statements were available to be issued and has concluded that no such events or transactions took place that would require disclosure herein except as stated directly below. On April 1, 2021, the Company issued 665,349 shares of common stock related to the quarterly vesting of restricted stock units (“RSUs”) to executives and management. Of which, 565,829 related to restricted stock units granted on May 5, 2020 and 99,520 related to restricted stock units granted on February 5, 2021 pursuant to the 2018 Equity Incentive Plan. On April 7, 2021, the Company issued 2,044 shares of common stock related to the exercise of a warrant issued on December 8, 2017. On April 27, 2021, the Company received written notification from their banking partner that the U.S. Small Business Administration (“SBA”) has forgiven the loan payable that was classified and held as a long-term liability in full.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated condensed financial statements, including the accounts of the Company’s subsidiaries, Marathon Crypto Mining, Inc., Crypto Currency Patent Holding Company and Soems Acquisition Corp., have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. These consolidated condensed financial statements reflect all adjustments (consisting only of normal recurring adjustments) which, in the opinion of management, are necessary to present fairly the financial position, the results of operations and cash flows of the Company for the periods presented. It is suggested that these consolidated condensed financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s most recent Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year ended December 31, 2021.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, estimating the useful lives of patent assets and fixed assets, the assumptions used to calculate fair value of warrants and options granted, realization of long-lived assets, deferred income taxes, unrealized tax positions and the realization of digital currencies.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
Digital Currencies	Digital Currencies Digital currencies are included in current assets in the consolidated balance sheets. Digital currencies are recorded at cost less impairment. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Halving – The bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “Halving”. The last halving for bitcoin occurred on May 12, 2020. Many factors influence the price of bitcoin and potential increases or decreases in prices in advance of or following a future halving is unknown. The following table presents the activities of the digital currencies for the three months ended March 31, 2021: Digital currencies at December 31, 2020 $ 2,271,656 Additions of digital currencies 9,152,816 Realized gain on sale of digital currencies (54 ) Impairment of cryptocurrencies (662,199 ) Sale of digital currencies (16,000 ) Digital currencies at March 31, 2021 $ 10,746,219
Investment Fund	Investment Fund In 2016, the FASB issued Accounting Standards Update (ASU) 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, On January 25, 2021, the Company entered into a limited partnership agreement with NYDIG Digital Assets Fund III, LP (“fund”) whereas the fund purchased 4,812.66 BTC in an aggregate purchase price of $150 million. The Company owns 100% of the limited partnership interest. The investment fund is Each Fund qualifies and operates as an investment company for accounting purposes pursuant to the accounting and reporting guidance under ASC 946, Financial Services – Investment Companies, which requires fair value measurement of the Fund’s investments in digital assets. The digital assets held by each Fund are traded on a number of active markets globally, including the over-the-counter (“OTC”) market and digital asset exchanges. A fair value measurement under ASC 820 for an asset assumes that the asset is exchanged in an orderly transaction between market participants either in the principal market for the asset or, in the absence of a principal market, the most advantageous market for the asset (ASC 820-10-35-5). An entity must have access to the principal (or most advantageous) market at the measurement date (ASC 820-10-35-6A).
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures at fair value certain of its financial and non-financial assets and liabilities by using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, essentially an exit price, based on the highest and best use of the asset or liability. The levels of the fair value hierarchy are: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The carrying amounts reported in the consolidated balance sheet for cash, accounts receivable, accounts payable, and accrued expenses, approximate their estimated fair market value based on the short-term maturity of these instruments. The carrying value of notes payable and other long-term liabilities approximate fair value as the related interest rates approximate rates currently available to the Company. Financial assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level of input that is significant to their fair value measurement. The Company measures the fair value of its marketable securities and investments by taking into consideration valuations obtained from third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs included reported trades of and broker-dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of March 31, 2021 and December 31, 2020, respectively: Fair value measured at March 31, 2021 Total carrying value at March 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2021 (Level 1) (Level 2) (Level 3) Assets Investment Fund $ 281,822,950 $ 281,822,950 Liabilities Warrant liability $ 1,914,333 $ - $ - $ 1,914,333 Fair value measured at December 31, 2020 Total carrying value at December 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2020 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ 322,437 $ - $ - $ 322,437 There were no transfers between Level 1, 2 or 3 during the three months ended March 31, 2021.
Fair Value of Warrant Liabilities	Fair value of warrant liabilities At March 31, 2021, the Company had an outstanding warrant liability in the amount of $1,914,332 associated with warrants that were issued in January 2017 and January 2021 and warrants issued related to the Convertible Notes issued in August and September of 2017. The following table rolls forward the fair value of the Company’s warrant liability, the fair value of which is determined by Level 3 inputs for the three months ended March 31, 2021. Fair value Outstanding as of December 31, 2020 $ 322,437 Change in fair value of warrants 1,591,896 Outstanding as of March 31, 2021 $ 1,914,333
Net Income and Basic and Diluted Net Income per Share	Net Income and Basic and Diluted Net Income per Share Net income for the three months ended March 31, 2021 is $ 83,356,742, however approximately $132 million of that income was generated as an unrealized gain from the change in value of our “fund of one” investment. In addition, the Company had previously generated NOL carry-forwards for federal and state purposes of approximately $45.6 million and $27.2 million, respectively. As such, the Company would not owe corporate income taxes as of March 31, 2021. Net income per common share is calculated in accordance with ASC Topic 260: Earnings Per Share (“ASC 260”). Basic income per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The computation of diluted net incomes per share does not include dilutive common stock equivalents in the weighted average shares outstanding, as they would be anti-dilutive. Computation of potential shares for the diluted earning (loss) per share calculation at March 31, 2021 and 2020 are as follows: As of March 31, 2021 2020 Warrants to purchase common stock 448,790 164,222 Options to purchase common stock 81,120 1,727,682 Convertible notes to exchange common stock - 1,248,883 Total 529,910 3,140,787 The following table sets forth the computation of basic and diluted loss per share: For the Three Months Ended March 31, 2021 2020 Net income (loss) attributable to common shareholders $ 83,356,742 $ (1,057,931 ) Denominator: Weighted average common shares - basic 94,350,216 8,655,525 Weighted average common shares - diluted 96,251,240 8,655,525 Income (loss) per common share - basic $ 0.88 $ (0.12 ) Income (loss) per common share - diluted $ 0.87 $ (0.12 )
Sequencing	Sequencing In connection with August 14, 2017 Convertible Note financing, the Company adopted a sequencing policy whereby all future instruments may be classified as a derivative liability with the exception of instruments related to share-based compensation issued to employees or directors. This convertible note was satisfied in full during the second quarter of 2020, therefore as of March 31, 2021, no future instruments are subject to the Company sequencing policy.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”)” Any new accounting standards, not disclosed above, that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Activities of Digital Currencies	The following table presents the activities of the digital currencies for the three months ended March 31, 2021: Digital currencies at December 31, 2020 $ 2,271,656 Additions of digital currencies 9,152,816 Realized gain on sale of digital currencies (54 ) Impairment of cryptocurrencies (662,199 ) Sale of digital currencies (16,000 ) Digital currencies at March 31, 2021 $ 10,746,219
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of March 31, 2021 and December 31, 2020, respectively: Fair value measured at March 31, 2021 Total carrying value at March 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2021 (Level 1) (Level 2) (Level 3) Assets Investment Fund $ 281,822,950 $ 281,822,950 Liabilities Warrant liability $ 1,914,333 $ - $ - $ 1,914,333 Fair value measured at December 31, 2020 Total carrying value at December 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2020 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ 322,437 $ - $ - $ 322,437
Schedule of Fair Value of Warrant Liabilities	Fair value Outstanding as of December 31, 2020 $ 322,437 Change in fair value of warrants 1,591,896 Outstanding as of March 31, 2021 $ 1,914,333
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Computation of potential shares for the diluted earning (loss) per share calculation at March 31, 2021 and 2020 are as follows: As of March 31, 2021 2020 Warrants to purchase common stock 448,790 164,222 Options to purchase common stock 81,120 1,727,682 Convertible notes to exchange common stock - 1,248,883 Total 529,910 3,140,787
Schedule of Computation of Basic and Diluted Loss Per Share	The following table sets forth the computation of basic and diluted loss per share: For the Three Months Ended March 31, 2021 2020 Net income (loss) attributable to common shareholders $ 83,356,742 $ (1,057,931 ) Denominator: Weighted average common shares - basic 94,350,216 8,655,525 Weighted average common shares - diluted 96,251,240 8,655,525 Income (loss) per common share - basic $ 0.88 $ (0.12 ) Income (loss) per common share - diluted $ 0.87 $ (0.12 )

Deposit, Property and Equipme_2

Deposit, Property and Equipment and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Deposit Property And Equipment And Intangible Assets
Schedule of Components of Property, Equipment and Intangible Assets	The components of property, equipment and intangible assets as of March 31, 2021 and December 31, 2020 are: Useful life (Years) March 31, 2021 December 31, 2020 Website 7 $ 121,787 $ 121,787 Mining equipment 5 30,974,689 12,989,318 Construction in Progress N/A 18,064,918 10,593,575 Mining patent 17 1,210,000 1,210,000 Gross property, equipment and intangible assets 50,371,394 24,914,680 Less: Accumulated depreciation and amortization (7,425,893 ) (6,687,957 ) Property, equipment and intangible assets, net $ 42,945,501 $ 18,226,723

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Summary of Outstanding Stock Warrants	A summary of the status of the Company’s outstanding stock warrants and changes during the three months ended March 31, 2021 is as follows : Number of Warrants Weighted Average Weighted Average Remaining Contractual Life Outstanding as of December 31, 2020 287,656 $ 12.64 2.7 Issued 375,000 25.00 4.8 Expired - - - Exercised (213,866 ) 7.49 3.1 Outstanding as of March 31, 2021 448,790 $ 25.42 4.1 Warrants exercisable as of March 31, 2021 448,790 $ 25.42 4.1
Summary of Stock Options	A summary of the stock options as of March 31, 2021 and changes during the period are presented below: Number of Shares Weighted Average Weighted Average Remaining Contractual Life Outstanding as of December 31, 2020 106,120 $ 44.32 4.28 Exercised (25,000 ) 2.04 - Outstanding as of March 31, 2021 81,120 $ 57.35 4.25 Options vested and expected to vest as of March 31, 2021 81,120 $ 57.35 4.25 Options vested and exercisable as of March 31, 2021 81,120 $ 57.35 4.25 The aggregate intrinsic value of options outstanding and exercisable at March 31, 2021 was $ 701,466
Summary of Restricted Stock Award Activity	A summary of the restricted stock award activity for the three months ended March 31, 2021 as follows : Number of Units Weighted Nonvested at December 31, 2020 566,279 $ 0.43 Granted 4,999,999 $ 10.44 Vested (5,289,594 ) $ 9.37 Nonvested at March 31, 2021 276,684 $ 10.44

Debt, Commitments and Conting_2

Debt, Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Components of Lease Cost	Operation lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following: For the Three Months Ended March 31, 2021 March 31, 2020 Operating leases Operating lease cost $ 18,701 $ 26,789 Operating lease expense 18,701 26,789 Short-term lease rent expense 6,687 5,992 Total rent expense $ 25,388 $ 32,781
Schedule of Leasing Activities	Additional information regarding the Company’s leasing activities as a lessee is as follow: For the Three Months Ended March 31, 2021 March 31, 2020 Operating cash flows from operating leases $ - $ 26,823 Weighted-average remaining lease term – operating leases - 1.5 Weighted-average discount rate – operating leases 0.0 % 6.5 %

Organization and Description _2

Organization and Description of Business (Details Narrative)

May 12, 2021

May 10, 2021USD ($)Integer$ / shares

Mar. 12, 2021shares

Feb. 11, 2021shares

Jan. 25, 2021USD ($)

Jan. 12, 2021USD ($)$ / sharesshares

Jan. 12, 2021USD ($)$ / sharesshares

Jan. 06, 2021shares

Jan. 04, 2021USD ($)

Dec. 23, 2020USD ($)Integer

Dec. 23, 2020Integer

Dec. 11, 2020USD ($)

Dec. 08, 2020Integer

Dec. 08, 2020USD ($)Integer

Nov. 12, 2020USD ($)

Oct. 23, 2020Integer

Oct. 23, 2020USD ($)Integer

Oct. 06, 2020USD ($)$ / sharesshares

Aug. 13, 2020USD ($)Integer$ / shares

May 12, 2020Integer

May 11, 2020USD ($)Integershares

Mar. 31, 2020USD ($)$ / sharesshares

Nov. 15, 2019shares

Jan. 02, 2018shares

Mar. 14, 2021USD ($)

Mar. 31, 2021USD ($)Integershares

Mar. 31, 2020USD ($)$ / shares

Dec. 31, 2020USD ($)$ / sharesshares

Dec. 31, 2019USD ($)$ / shares

Jul. 29, 2020Integer

Jun. 11, 2020Integer

May 18, 2020Integer

May 21, 2019USD ($)

Mar. 31, 2019USD ($)

Organization And Description Of Business [Line Items]

Reverse stock split

1:4 Reverse Split

Common stock shares issued during period | shares

1,058,558

474,808

Failed to maintain a minimum amount

$ 2,500,000

Stockholders' equity

$ 3,169,718

$ 683,723,083

$ 3,169,718

$ 311,744,964

$ 3,647,672

$ 2,158,192

Common stock, issued during the period, value

237,429,619

385,117

$ 297,659,270

Common stock price | $ / shares

$ 0.90

Change in fair value of mining payable

(66,548)

$ (66,547)

Impaiment of assets

$ 662,199

Miners description

Subject to the timely payment of the purchase price, Bitmain is and has been scheduled deliver products according to the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021

Subject to the timely payment of the purchase price, Bitmain shall deliver products according to the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021.

Payments for purchase of miners

$ 63,221,724

$ 65,647,592

Total amount to be paid for miner

167,763,452

Proceeds from public offering

$ 2,300,000

Other current receivables

74,767,226

Purchase price of mining

33,552,690

Aggregate purchase price of common stock

$ 150,000,000

$ 100,000,000

Cash

$ 141,300,000

Common stock shares outstanding | shares

99,370,465

81,974,619

Number of shares Restricted stock | shares

1,000,000

Compensation description

Compensation for directors of the board for 2021 as follows: (i) cash compensation of $60,000 per year for each director, plus an additional $15,000 per year for each committee chair, paid 25% at the end of each calendar quarter; (ii) for existing directors, the equivalent of $120,000 annually in RSUs; and (iii) for newly elected directors, a one-time grant of $200,000 in RSUs, vesting 25% each calendar quarter during 2021.

Option exercise | shares

25,000

Digital asstes

$ 292,600,000

Cumulative impairments

$ 6,620,000

Number of Bitcoins | Integer

5,130

Cash and cash equivalents

$ 211,934,086

$ 141,322,776

Digital currencies

$ 10,746,219

2,271,656

Subsequent Event [Member]

Organization And Description Of Business [Line Items]

Number of Bitcoins | Integer

5,290

Acquisition of bitcoins | Integer

4,813

Aggregate purchase price of bitcoins

$ 150,000,000

Bitcoin Fair Value Per Share | $ / shares

$ 31,137

Warrant [Member]

Organization And Description Of Business [Line Items]

Warrants outstanding | shares

170,904

Crypto-Currency Machines [Member]

Organization And Description Of Business [Line Items]

Impaiment of assets

$ 871,302

First 20% [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

Twenty percent (20%) of the total purchase price shall be paid as a non-refundable down payment within forty-eight (48) hours of execution of the agreement

Second 20% [Member

Organization And Description Of Business [Line Items]

Description about the payment for miners

The Company shall pay the twenty percent (20%) of the total purchase price prior to September 20, 2020.

10% [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

The Company shall pay the ten percent (10%) of the total purchase price prior to October 10, 2020.

50% [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

The Company shall pay the remaining fifty percent (50%) of the total purchase price in equal monthly installments due not less than fifty-five (55) days prior to the scheduled delivery of the Product(s).

First Installment [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the first installment of products to be shipped to the Company in January 2021.

Second Installment [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the second installment of the products to be shipped to the Company in February 2021.

Third Installment [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the third installment of the products to be shipped to the Company in March 2021.

Fourth Installment [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the fourth installment of the products to be shipped to the Company in April 2021.

Fifth Installment [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the fifth installment of the products to be shipped to the Company in May 2021.

Sixth Installment [Member]

Organization And Description Of Business [Line Items]

Description about the payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the sixth installment of the products to be shipped to the Company in June 2021

Phase I [Member]

Organization And Description Of Business [Line Items]

Total amount to be paid for miner

$ 23,000,000

Phase II [Member] | Minimum [Member]

Organization And Description Of Business [Line Items]

Total amount to be paid for miner

9,000,000

Phase II [Member] | Maximum [Member]

Organization And Description Of Business [Line Items]

Total amount to be paid for miner

$ 32,000,000

At The Market Offering [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

6,632,712

Proceeds from public offering

$ 77,100,000

Other current receivables

$ 74,800,000

Restricted Stock [Member]

Organization And Description Of Business [Line Items]

Number of shares Restricted stock | shares

1,000,000

Increase number of shares available under Plan | shares

2,547,392

Restricted Stock [Member] | Minimum [Member]

Organization And Description Of Business [Line Items]

Number of restricted stock, value

$ 500,000,000

Restricted Stock One [Member]

Organization And Description Of Business [Line Items]

Number of shares Restricted stock | shares

1,000,000

Restricted Stock One [Member] | Minimum [Member]

Organization And Description Of Business [Line Items]

Number of restricted stock, value

$ 750,000,000

Restricted Stock Two [Member]

Organization And Description Of Business [Line Items]

Number of shares Restricted stock | shares

2,000,000

Restricted Stock Two [Member] | Minimum [Member]

Organization And Description Of Business [Line Items]

Number of restricted stock, value

$ 1,000,000,000

Restricted Stock Three [Member]

Organization And Description Of Business [Line Items]

Number of shares Restricted stock | shares

2,000,000

Restricted Stock Three [Member] | Minimum [Member]

Organization And Description Of Business [Line Items]

Number of restricted stock, value

$ 2,000,000,000

Stock Options [Member]

Organization And Description Of Business [Line Items]

Option exercise | shares

23,500

Miners from MicroBT [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

1,300,000

Common stock, issued during the period, value

$ 1,300,000

Miners description

The 700 miners produce 80/Th and will generate 56 PH/s (petahash) of hashing power, compared to the Company's current S-9 production of 46 PH/s. These next generation MicroBT ASIC miners are markedly more energy efficient than our existing Bitmain models.

Number of miners | Integer

700

700

Bitmain S19 Pro Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

These miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, compared to the Company's S-9 production of 46 PH/s. The Company made the payments of approximately $4.2 million in the second quarter of 2020 and expects 660 of the 1,660 units to take delivery at its Hosting Facility in mid-August, and its hosting partner, Compute North, expects to install them within 48 hours of their arrival. The 1,000 remaining S-19 Pro Miners arrived in the 4th quarter and will produce an additional 110 PH/s increasing the Company to an aggregate Hashpower of 294 PH/s.

Number of miners | Integer

660

500

500

Bitmain S19 Pro Miners [Member] | Subsequent Event [Member]

Organization And Description Of Business [Line Items]

Miners description

These miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, compared to the Company's S-9 production of 46 PH/s. The Company made the payments of approximately $4.2 million in the second quarter of 2020 and expects 660 of the 1,660 units to take delivery at its Hosting Facility in mid-August, and its hosting partner, Compute North, expects to install them within 48 hours of their arrival. The 1,000 remaining S-19 Pro Miners arrived in the 4th quarter and will produce an additional 110 PH/s increasing the Company to an aggregate Hashpower of 294 PH/s.

Antminer S-19 Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

The purchase price per unit is $2,362 ($2,206 with a 6.62% discount) for a total purchase price of $24,801,000 (with a 6.62% discount for a discounted price of $23,159,174). The parties confirm that the total hashrate of the Antminers under this agreement shall not be less than 1,155,000 TH/s.

Number of miners | Integer

10,500

Purchase price per unit of miners | $ / shares

$ 2,362

Discounted purchase price per unit of miners | $ / shares

$ 2,206

Miners [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

583,750

Common stock, issued during the period, value

$ 513,700

Common stock price | $ / shares

$ 0.88

Change in fair value of mining payable

507,862

$ 66,547

Merrick Okamoto [Member]

Organization And Description Of Business [Line Items]

Cash bonus

2,000,000

Sim Salzman [Member]

Organization And Description Of Business [Line Items]

Cash bonus

$ 40,000

Number of shares Restricted stock | shares

91,324

James Crawford [Member]

Organization And Description Of Business [Line Items]

Cash bonus

$ 127,308

Number of shares Restricted stock | shares

57,990

Asset Purchase Agreement [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

1,276,442

Common stock, issued during the period, value

$ 2,233,773

Common stock percent

19.90%

At The Market Agreement [Member]

Organization And Description Of Business [Line Items]

Purchase price of mining

$ 200,000,000

Employment Agreement [Member]

Organization And Description Of Business [Line Items]

Agreement term

3 years

Increased in salary percentage

3.00%

At-the-market (ATM) [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

200,000,000

81,974,619

Common stock, issued during the period, value

$ 141,300,000

Offering costs

$ 200,000,000

$ 200,000,000

Shares issued price per share | $ / shares

$ 20

$ 20

Securities Purchase Agreement [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

12,500,000

Common stock price | $ / shares

$ 20

$ 20

Offering costs

$ 250,000,000

$ 250,000,000

Sale of stock, shares | shares

12,500,000

Sale of stock, exercise price | $ / shares

$ 20

$ 20

Purchase Agreement [Member]

Organization And Description Of Business [Line Items]

Proceeds from public offering

250,000,000

SelectGreen Blockchain Ltd [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

2,335,000

Common stock, issued during the period, value

$ 4,086,250

Common stock price | $ / shares

$ 1.75

$ 1.75

Bitmaintech PTE., LTD [Member]

Organization And Description Of Business [Line Items]

Payments for purchase of miners

$ 22,660,679

Description about the payment for miners

to purchase an additional 70,000 next generation Antminer S-19 ASIC Miners, with 7,000 units to be delivered in July 2021, and the remaining 63,000 units to be delivered in December 2021. The purchase price is $167,763,451. The purchase price for the miners shall be paid as follows: 20% within 48 hours of signing of contract; 30% on or before March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15, 2021; 10.19% on September 15, 2021; 17.63% on October 15, 2021 and 11.55% on November 15, 2021.

to purchase an additional 10,000 next generation Antminer S-19j Pro ASIC Miners, with 6,000 units to be delivered in August 2021, and the remaining 4,000 units to be delivered in September 2021. The gross purchase price is $$23,770,000 with 10% of the purchase price due within 48 hours of execution of the contract, 30% due on January 14, 2021, 10% due on February 15, 2021, 30% due on June 15, 2021 and 20% due on July 15, 2021.

to purchase an additional 10,000 next generation Antminer S-19 Pro ASIC Miners. The 2021 delivery schedule will be 2,500 Units in January, 4,500 Units in February and the final 3,000 Units in March 2021.The gross purchase price is $23,620,000.00 with 30% due upon the execution of the contract and the balance paid over the next 4 months.

the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021.

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

The purchase price for the miners shall be paid as follows: 20% within 48 hours of signing of contract; 30% on or before March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15, 2021; 10.19% on September 15, 2021; 17.63% on October 15, 2021 and 11.55% on November 15, 2021.

Number of miners | Integer

70,000

70,000

10,000

10,000

Percentage of discount for the purchase of miners

8.63%

Payments for purchase of miners

$ 83,881,726

$ 21,581,594

Total amount to be paid for miner

21,581,594

Purchase price of mining

$ 167,763,451

$ 21,581,594

Aggregate purchase price of common stock

$ 23,620,000

Execution of contract percentage

30.00%

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | July 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

7,000

7,000

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | December 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

63,000

63,000

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | January 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

2,500

2,500

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | February 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

4,500

4,500

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member] | March 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

3,000

3,000

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

10,000

10,000

Percentage of discount for the purchase of miners

8.63%

Payments for purchase of miners

10,859,330

Total amount to be paid for miner

21,718,649

Purchase price of mining

$ 21,718,649

Aggregate purchase price of common stock

$ 23,770,000

Execution of contract percentage

10.00%

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | August 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

6,000

6,000

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | January 14, 2021 [Member]

Organization And Description Of Business [Line Items]

Execution of contract percentage

30.00%

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | February 15, 2021 [Member]

Organization And Description Of Business [Line Items]

Execution of contract percentage

10.00%

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | June 15, 2021 [Member]

Organization And Description Of Business [Line Items]

Execution of contract percentage

30.00%

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | July 15, 2021 [Member]

Organization And Description Of Business [Line Items]

Execution of contract percentage

20.00%

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member] | September 2021 [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

4,000

4,000

Bitmaintech PTE., LTD [Member] | Long Term Purchase Contract [Member] | Antminer S-19 Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

The purchase price per unit is $2,362.00 ($2,205.63 with a 6.62% discount) for a total purchase price of $24,801,000.00 (with a 6.62% discount for a discounted price of $23,159,173.80). The parties confirm that the total hashrate of the Antminers under this agreement shall not be less than 1,155,000.00TH/s.

Number of miners | Integer

10,500

Purchase price per unit of miners | $ / shares

$ 2,362

Discounted purchase price per unit of miners | $ / shares

$ 2,206

Percentage of discount for the purchase of miners

6.62%

8.63%

Payments for purchase of miners

$ 24,801,000

22,660,679

Discounted payment for purchase of miners

$ 23,159,174

$ 22,660,673

$ 22,660,679

Marathon and Beowulf [Member] | Power Purchase Agreement [Member]

Organization And Description Of Business [Line Items]

Miners description

Marathon and Beowulf entered into an exclusive Power Purchase Agreement for the initial supply of 30 MW (Phase I), and up to 100 MW in the aggregate (Phase II), of energy load to the Facility at a cost of $0.028/kWh. The initial term of the Power Purchase Agreement is five years, with up to five additional three-year extensions, as mutually agreed, assuming 75% energy utilization of the initial 30 MW of energy supplied to the Facility.

Energy load facility cost | $ / shares

$ 0.028

Purchase price of mining

$ 750,000

Marathon and Beowulf [Member] | Data Facility Services Agreement [Member]

Organization And Description Of Business [Line Items]

Common stock description

Upon completion of Phase I, Marathon will issue to Beowulf an additional 150,000 shares of its common stock. During Phase II, Marathon will issue to Beowulf an additional 350,000 shares of its common stock - 150,000 shares upon reaching 60 MW of Facility load and 200,000 at completion of the full 100 MW of Facility load. The cost to maintain and run the Facility will be $0.006/kWh.

Marathon and Beowulf [Member] | Data Facility Services Agreement [Member] | Phase I [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

150,000

Marathon and Beowulf [Member] | Data Facility Services Agreement [Member] | Phase II [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

350,000

Beowulf and 2P1 [Member] | Data Facility Services Agreement [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

3,000,000

Energy load facility cost | $ / shares

$ 1.87

Aggregate purchase price of common stock

$ 11,220,000

H.C. Wainwright [Member] | At The Market Agreement [Member] | Maximum [Member]

Organization And Description Of Business [Line Items]

Purchase price of mining

$ 200,000,000

2018 Equity Incentive Plan [Member]

Organization And Description Of Business [Line Items]

Common stock shares issued during period | shares

4,701,442

625,000

Shares vested | shares

566,279

2018 Equity Incentive Plan [Member] | Merrick Okamoto [Member] | Restricted Stock [Member]

Organization And Description Of Business [Line Items]

Number of shares Restricted stock | shares

2,547,392

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	Jan. 25, 2021USD ($)Integer	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Significant Accounting Policies [Line Items]
Outstanding warrant liability		$ 1,914,332
Net income		83,356,742	$ (1,057,932)
Unrealized gain from changes in investment		132,000,000
Foreign [Member]
Significant Accounting Policies [Line Items]
NOL carry-forwards		45,600,000
State [Member]
Significant Accounting Policies [Line Items]
NOL carry-forwards		$ 27,200,000
NYDIG Digital Assets Fund III LP [Member]
Significant Accounting Policies [Line Items]
Purchae of bitcoins | Integer	4,813
Aggregate purchase price	$ 150,000,000
Partnership interest rate	1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Activities of Digital Currencies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Digital currencies, Beginning balance	$ 2,271,656
Additions of digital currencies	9,152,816
Realized gain on sale of digital currencies	54	$ 4,221
Impairment of cryptocurrencies	662,199
Sale of digital currencies	(16,000)
Digital currencies, Ending balance	$ 10,746,219

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Investment Fund	$ 281,822,950
Warrant liability	1,914,333	322,437
Level 1 [Member]
Investment Fund	281,822,950
Warrant liability
Level 2 [Member]
Investment Fund
Warrant liability
Level 3 [Member]
Investment Fund
Warrant liability	$ 1,914,333	$ 322,437

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Fair Value of Warrant Liabilities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Fair value of warrant liabilities beginning balance	$ 322,437
Change in fair value of warrants	1,591,895	$ (9,786)
Fair value of warrant liabilities ending balance	$ 1,914,333

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	529,910	3,140,787
Warrants to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	448,790	164,222
Options to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	81,120	1,727,682
Convertible Notes to Exchange Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		1,248,883

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Computation of Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Net loss attributable to common shareholders	$ 83,356,742	$ (1,057,932)
Denominator: Weighted average common shares - basic	94,350,216	8,655,525
Denominator: Weighted average common shares - diluted	96,251,240	8,655,525
Loss per common share - basic	$ 0.88	$ (0.12)
Loss per common share - diluted	$ 0.87	$ (0.12)

Deposit, Property and Equipme_3

Deposit, Property and Equipment and Intangible Assets (Details Narrative)

May 12, 2021

Dec. 23, 2020USD ($)Integer

Dec. 23, 2020Integer

Dec. 08, 2020

Oct. 23, 2020Integer

Aug. 13, 2020Integer$ / shares

May 12, 2020Integer

May 11, 2020USD ($)Integer

Mar. 31, 2021USD ($)

Mar. 31, 2020USD ($)

Dec. 31, 2020USD ($)

Jul. 29, 2020Integer

Jun. 11, 2020Integer

May 18, 2020Integer

Organization And Description Of Business [Line Items]

Common stock, issued during the period, value

$ 237,429,619

$ 385,117

$ 297,659,270

Miners description

Subject to the timely payment of the purchase price, Bitmain is and has been scheduled deliver products according to the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021

Subject to the timely payment of the purchase price, Bitmain shall deliver products according to the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021.

Payments for purchase of miners

$ 63,221,724

$ 65,647,592

Deposit

128,869,316

$ 65,647,592

Depreciation

720,142

510,781

Amortization of patents and website

17,794

$ 17,794

Bitmaintech PTE., LTD [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

to purchase an additional 70,000 next generation Antminer S-19 ASIC Miners, with 7,000 units to be delivered in July 2021, and the remaining 63,000 units to be delivered in December 2021. The purchase price is $167,763,451. The purchase price for the miners shall be paid as follows: 20% within 48 hours of signing of contract; 30% on or before March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15, 2021; 10.19% on September 15, 2021; 17.63% on October 15, 2021 and 11.55% on November 15, 2021.

to purchase an additional 10,000 next generation Antminer S-19j Pro ASIC Miners, with 6,000 units to be delivered in August 2021, and the remaining 4,000 units to be delivered in September 2021. The gross purchase price is $$23,770,000 with 10% of the purchase price due within 48 hours of execution of the contract, 30% due on January 14, 2021, 10% due on February 15, 2021, 30% due on June 15, 2021 and 20% due on July 15, 2021.

to purchase an additional 10,000 next generation Antminer S-19 Pro ASIC Miners. The 2021 delivery schedule will be 2,500 Units in January, 4,500 Units in February and the final 3,000 Units in March 2021.The gross purchase price is $23,620,000.00 with 30% due upon the execution of the contract and the balance paid over the next 4 months.

the following schedule: 1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; March 31, 2021; April 30, 2021, May 31, 2021 and June 30, 2021.

Payments for purchase of miners

$ 22,660,679

Balance including the payments

$ 22,660,673

Bitmaintech PTE., LTD [Member] | Antminer S-19 Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Payments for purchase of miners

13,634,645

Balance including the payments

21,581,594

Bitmaintech PTE., LTD [Member] | Antminer S19J Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Payments for purchase of miners

10,859,330

Balance including the payments

21,718,649

Bitmaintech PTE., LTD [Member] | Antminer S19 Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Payments for purchase of miners

33,552,690

Balance including the payments

$ 167,763,451

First 20% [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

Twenty percent (20%) of the total purchase price shall be paid as a non-refundable down payment within forty-eight (48) hours of execution of the agreement

Second 20% [Member

Organization And Description Of Business [Line Items]

Description about payment for miners

The Company shall pay the twenty percent (20%) of the total purchase price prior to September 20, 2020.

10% [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

The Company shall pay the ten percent (10%) of the total purchase price prior to October 10, 2020.

50% [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

The Company shall pay the remaining fifty percent (50%) of the total purchase price in equal monthly installments due not less than fifty-five (55) days prior to the scheduled delivery of the Product(s).

First Installment [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the first installment of products to be shipped to the Company in January 2021.

Second Installment [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the second installment of the products to be shipped to the Company in February 2021.

Third Installment [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the third installment of the products to be shipped to the Company in March 2021.

Fourth Installment [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the fourth installment of the products to be shipped to the Company in April 2021.

Fifth Installment [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the fifth installment of the products to be shipped to the Company in May 2021.

Sixth Installment [Member]

Organization And Description Of Business [Line Items]

Description about payment for miners

eight-point thirty-three percent (8.33%) no later than 55 days prior to each scheduled delivery period as to the sixth installment of the products to be shipped to the Company in June 2021

Bitmain S19 Pro Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

These miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, compared to the Company's S-9 production of 46 PH/s. The Company made the payments of approximately $4.2 million in the second quarter of 2020 and expects 660 of the 1,660 units to take delivery at its Hosting Facility in mid-August, and its hosting partner, Compute North, expects to install them within 48 hours of their arrival. The 1,000 remaining S-19 Pro Miners arrived in the 4th quarter and will produce an additional 110 PH/s increasing the Company to an aggregate Hashpower of 294 PH/s.

Number of miners | Integer

660

500

500

Antminer S-19 Pro ASIC Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

The purchase price per unit is $2,362 ($2,206 with a 6.62% discount) for a total purchase price of $24,801,000 (with a 6.62% discount for a discounted price of $23,159,174). The parties confirm that the total hashrate of the Antminers under this agreement shall not be less than 1,155,000 TH/s.

Number of miners | Integer

10,500

Purchase price per unit of miners | $ / shares

$ 2,362

Discounted purchase price per unit of miners | $ / shares

$ 2,206

Antminer S-19 Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member]

Organization And Description Of Business [Line Items]

Miners description

The purchase price for the miners shall be paid as follows: 20% within 48 hours of signing of contract; 30% on or before March 1, 2021; 4.75% on June 15, 2021; 1.76% on July 15, 2021; 4.58% on August 15, 2021; 10.19% on September 15, 2021; 17.63% on October 15, 2021 and 11.55% on November 15, 2021.

Number of miners | Integer

70,000

70,000

10,000

Payments for purchase of miners

$ 83,881,726

$ 21,581,594

Subsequent Event [Member] | Bitmain S19 Pro Miners [Member]

Organization And Description Of Business [Line Items]

Miners description

These miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, compared to the Company's S-9 production of 46 PH/s. The Company made the payments of approximately $4.2 million in the second quarter of 2020 and expects 660 of the 1,660 units to take delivery at its Hosting Facility in mid-August, and its hosting partner, Compute North, expects to install them within 48 hours of their arrival. The 1,000 remaining S-19 Pro Miners arrived in the 4th quarter and will produce an additional 110 PH/s increasing the Company to an aggregate Hashpower of 294 PH/s.

Miners from MicroBT [Member]

Organization And Description Of Business [Line Items]

Common stock, issued during the period, value

$ 1,300,000

Miners description

The 700 miners produce 80/Th and will generate 56 PH/s (petahash) of hashing power, compared to the Company's current S-9 production of 46 PH/s. These next generation MicroBT ASIC miners are markedly more energy efficient than our existing Bitmain models.

Number of miners | Integer

700

700

Bitmain S19 Pro Miners [Member]

Organization And Description Of Business [Line Items]

Number of miners | Integer

500

500

660

Deposit, Property and Equipme_4

Deposit, Property and Equipment and Intangible Assets - Schedule of Components of Property, Equipment and Intangible Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Gross property, equipment and intangible assets	$ 50,371,394	$ 24,914,680
Less: Accumulated depreciation and amortization	(7,425,893)	(6,687,957)
Property, equipment and intangible assets, net	$ 42,945,501	$ 18,226,723
Website [Member]
Useful life (Years)	7 years	7 years
Gross property, equipment and intangible assets	$ 121,787	$ 121,787
Mining Equipment [Member]
Useful life (Years)	5 years	5 years
Gross property, equipment and intangible assets	$ 30,974,689	$ 12,989,318
Construction in Progress [Member]
Useful life (Years)	0 years	0 years
Gross property, equipment and intangible assets	$ 18,064,918	$ 10,593,575
Mining Patent [Member]
Useful life (Years)	17 years	17 years
Gross property, equipment and intangible assets	$ 1,210,000	$ 1,210,000

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Jan. 12, 2021	Jan. 12, 2021	Jan. 04, 2021	Dec. 22, 2020	Aug. 13, 2020	Jul. 28, 2020	Jul. 23, 2020	Nov. 15, 2019	Aug. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Offering costs										$ 14,906,805	$ 16,774
Net proceeds										$ 327,103,650	401,891
Common stock, par value										$ 0.0001		$ 0.0001
Common stock, issued during the period, value										$ 237,429,619	$ 385,117	$ 297,659,270
Common stock shares issued during period								1,058,558				474,808
Proceeds from public offering			$ 2,300,000
Underwriting Agreement [Member] | H.C. Wainwright [Member]
Sale of stock							7,666,666
Stock option granted							999,999
Shares issued price							$ 0.90
Gross proceeds						$ 6,900,000
Offering costs						600,000
Net proceeds						$ 6,300,000
Warrant to purchase common stock						536,667
Warrant term						5 years
Warrant exercise price						$ 1.125
2020 At the Market Agreement [Member]
Offering costs												$ 9,400,000	$ 10,000
Net proceeds												$ 307,100,000	$ 300,000
Common stock, par value				$ 0.0001	$ 0.0001
Common stock shares issued during period												54,301,698	172,126
2020 At the Market Agreement [Member] | Maximum [Member]
Common stock, issued during the period, value				$ 200,000,000	$ 100,000,000
Securities Purchase Agreement [Member]
Sale of stock	12,500,000
Common stock shares issued during period		12,500,000
Securities Purchase Agreement [Member] | Certain Purchasers [Member]
Sale of stock	12,500,000
Shares issued price	$ 20	$ 20
Proceeds from public offering	$ 250,000,000
Letter Agreement [Member] | H.C. Wainwright & Co., LLC [Member]
Warrant to purchase common stock									375,000
Warrant exercise price									$ 25
Fee payment description									The Company agreed to pay to the Placement Agent a cash fee of 5.0% of the aggregate gross proceeds raised in the Offering. The Company also issued to designees of the Placement Agent warrants to purchase up to 3.0% of the aggregate number of shares of Common Stock sold in the transactions, or warrants to purchase up to 375,000 shares of Common Stock (the "Placement Agent Warrants"). The Placement Agent Warrants have an exercise price equal to 125% of the offering price per share (or $25.00 per share). The Company also agreed to pay the Placement Agent $50,000 for accountable expenses, to reimburse an investor's legal fees in an amount up to $7,500 and to pay $12,900 for the Placement Agent's clearing fees. Pursuant to the terms of the Engagement Letter, the Placement Agent has the right, for a period of twelve months following the closing of the Offerings, to act (i) as financial advisor in connection with any merger, consolidation or similar business combination by the Company and (ii) as sole book-running manager, sole underwriter or sole placement agent in connection with certain debt and equity financing transactions by the Company.
Accountable expense									$ 50,000
Legal fees									7,500
Agent clearance fees									$ 12,900

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Outstanding Stock Warrants (Details)	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Equity [Abstract]
Number of Warrants Balance Beginning | shares	287,656
Number of Warrants Issued | shares	375,000
Number of Warrants Expired | shares
Number of Warrants Exercised | shares	(213,866)
Number of Warrants Balance Ending | shares	448,790
Number of Warrants Exercisable | shares	448,790
Weighted Average Exercise Price Balance Beginning | $ / shares	$ 12.64
Weighted Average Exercise Price Issued | $ / shares	25
Weighted Average Exercise Price Expired | $ / shares
Weighted Average Exercise Price Exercised | $ / shares	7.49
Weighted Average Exercise Price Balance Ending | $ / shares	25.42
Weighted Average Exercise Price Exercisable | $ / shares	$ 25.42
Weighted Average Remaining Contractual Life (in years) Balance Beginning	2 years 8 months 12 days
Weighted Average Remaining Contractual Life (in years) of shares Issued	4 years 9 months 18 days
Weighted Average Remaining Contractual Life (in years) of shares Exercised	3 years 1 month 6 days
Weighted Average Remaining Contractual Life (in years) Balance Ending	4 years 1 month 6 days
Weighted Average Remaining Contractual Life (in years) Exercisable	4 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding, Ending Balance | $	$ 10,151,602
Aggregate Intrinsic Value, Exercisable, Ending Balance | $	$ 10,151,602

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Options (Details)	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Equity [Abstract]
Number of Options, Beginning Balance | shares	106,120
Number of Options, Exercised | shares	(25,000)
Number of Options, Ending Balance | shares	81,120
Number of Options Vested and Expected to Vest | shares	81,120
Number of Options Vested and Exercisable | shares	81,120
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 44.32
Weighted Average Exercise Price, Exercised | $ / shares	2.04
Weighted Average Exercise Price, Ending Balance | $ / shares	57.35
Weighted Average Exercise Price, Options vested and expected to vest | $ / shares	57.35
Weighted Average Exercise Price, Options vested and exercisable | $ / shares	$ 57.35
Weighted Average Remaining Contractual Life (in years), Beginning Balance	4 years 3 months 11 days
Weighted Average Remaining Contractual Life (in years), Ending Balance	4 years 2 months 30 days
Weighted Average Remaining Contractual Life (in years), Options vested and expected to vest	4 years 2 months 30 days
Weighted Average Remaining Contractual Life (in years), Options vested and exercisable	4 years 2 months 30 days
Aggregate Intrinsic Value, Outstanding, Ending Balance | $	$ 701,466
Aggregate Intrinsic Value, Exercisable, Ending Balance | $	$ 701,466

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Restricted Stock Award Activity (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number of restricted stock, Beginning Balance | shares	566,279
Number of restricted stock, Granted | shares	4,999,999
Number of restricted stock, Vested | shares	(5,289,594)
Number of restricted stock, Ending Balance | shares	276,684
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 0.43
Weighted Average Grant Date Fair Value, Granted | $ / shares	10.44
Weighted Average Grant Date Fair Value, Vested | $ / shares	9.37
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 10.44

Debt, Commitments and Conting_3

Debt, Commitments and Contingencies (Details Narrative) - USD ($)	Mar. 07, 2021	Jun. 01, 2018	Mar. 31, 2021	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Monthly rental payment		$ 1,997	$ 25,388	$ 32,781
Security deposit		$ 3,815
Loss on cancellation of lease	$ 81,000		$ 80,809

Debt, Commitments and Conting_4

Debt, Commitments and Contingencies - Schedule of Components of Lease Cost (Details) - USD ($)	Jun. 01, 2018	Mar. 31, 2021	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost		$ 18,701	$ 26,789
Operating lease expense		18,701	26,789
Short-term lease rent expense		6,687	5,992
Total rent expense	$ 1,997	$ 25,388	$ 32,781

Debt, Commitments and Conting_5

Debt, Commitments and Contingencies - Schedule of Leasing Activities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating cash flows from operating leases		$ 26,823
Weighted-average remaining lease term - operating leases	0 years	1 year 6 months
Weighted-average discount rate - operating leases	0.00%	6.50%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - shares	Apr. 01, 2021	Feb. 11, 2021	Feb. 05, 2021	May 05, 2020	Nov. 15, 2019	Jan. 02, 2018	Dec. 31, 2020
Common stock shares issued during period					1,058,558		474,808
Number of shares issued, exercise of warrant			2,044
2018 Equity Incentive Plan [Member]
Common stock shares issued during period		4,701,442				625,000
Restricted Stock Units (RSUs) [Member] | 2018 Equity Incentive Plan [Member]
Common stock shares issued during period			99,520	565,829
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member]
Common stock shares issued during period	665,349