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NOTE 1. ORGANIZATION AND BUSINESSOrganizationOn August 27, 2021 (the “Closing Date”), Good Works Acquisition Corp. (“GWAC”), a special purpose acquisition company, consummated the Agreement and Plan of Merger dated as of March 4, 2021 (the “Merger Agreement”), by and among GWAC, Currency Merger Sub, Inc. (“Merger Sub”), a wholly-owned direct subsidiary of GWAC, and Cipher Mining Technologies Inc. (“CMTI”).Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into CMTI, the separate corporate existence of Merger Sub ceasing and CMTI being the surviving corporation and a wholly-owned subsidiary of GWAC (the “Merger” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”). Following the Business Combination, the combined company was named Cipher Mining Inc. (“Cipher” or the “Company”). The Company comprises all of GWAC’s and CMTI’s operations.On December 15, 2022, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, since the Company’s common stock (“Common Stock”) had closed below Nasdaq’s $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.00 per share minimum bid price requirement for 30 consecutive days, the Company was no longer in compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) for continued listing. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had a period of 180 calendar days, or until June 13, 2023 (the “Compliance Date”), to regain compliance with the Minimum Bid Price Requirement. If at any time before the Compliance Date the bid price for the Common Stock closed at $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.00 per share or more for a minimum of 10 consecutive business days (unless Nasdaq exercised its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H)), Nasdaq would provide written notification to the Company that it had regained compliance with the Minimum Bid Price Requirement. The Company received written notification from Nasdaq that it had regained compliance on February 3, 2023.BusinessThe Company is an emerging technology company that develops and operates industrial scale bitcoin mining data centers. The Company operates or jointly operates <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">four bitcoin mining data centers in the Texas including <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">one wholly-owned data center and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">three partially-owned data centers that were acquired through investments in joint ventures. Bitcoin mining is the Company’s principal revenue generating business activity. The Company began deployment of capacity in the first quarter of 2022, with mining operations beginning at the partially-owned Alborz facility in February 2022 (the “Alborz Facility”). In August 2022, installation of the last mining rigs delivered to the Alborz Facility was completed. In October 2022, installation at the partially-owned Bear facility (the “Bear Facility”) and the partially-owned Chief facility (the “Chief Facility”) was also completed. In November 2022, the Company began bitcoin mining operations at the wholly-owned Odessa facility (the “Odessa Facility”) and is continuing to expand those operations.CMTI was established on January 7, 2021, in Delaware, by Bitfury Top Holdco B.V. and its subsidiaries (“Bitfury Top Holdco” and, with its subsidiaries, the “Bitfury Group”). Bitfury Top HoldCo (together with Bitfury Holding B.V., a subsidiary of Bitfury Top HoldCo, and referred to herein as “Bitfury Holding”) beneficially owned approximately <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">81.6% of the Company’s Common Stock as of December 31, 2022, with sole voting and sole dispositive power over those shares and, as a result, Bitfury Top HoldCo has control of the Company as defined in Financial Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidation (“ASC 810”).Risks and uncertaintiesLiquidity, capital resources and limited business historyThe Company has experienced net losses and negative cash flows from operations. As of December 31, 2022, the Company had approximate balances of cash and cash equivalents of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.9 million, working capital of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7.4 million, total stockholders’ equity of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;white-space:pre-wrap;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">342.9 million and an accumulated deficit of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;white-space:pre-wrap;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">111.2 million. To date, the Company has, in large part, relied on proceeds from the consummation of the Business Combination to fund its operations. During the year ended December 31, 2022 and the eleven months ended December 31, 2021, the Company paid $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">188.1 million and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">114.9 million, respectively, of deposits for miners and mining equipment. As of December 31, 2022, the Company had contributed equipment with a total cost of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">127.8 million related to its contributions of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">12,953, <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">3,254 and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">3,254 miners and other mining equipment to the Alborz Facility, Bear Facility and Chief Facility, respectively. The deposits for the contributed equipment were reclassified to investment in equity investees on the Company’s consolidated balance sheet, with the exception of losses totaling $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">33.4 million that were recognized by the Company in relation to miners contributed between June 2022 and October 2022 that had fair values at the time of the contributions that were less than the costs paid by the Company to obtain them. These losses were recognized in equity in losses of equity investees on the consolidated statement of operations during the year ended December 31, 2022. The Company also reclassified $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">79.9 million of deposits on equipment to property and equipment in connection with the receipt of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">25,407 miners at the Odessa Facility.As of December 31, 2022, the Company had $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">73.0 million of deposits on equipment on its consolidated balance sheet, primarily for deposits on miners. The Company currently does not have any outstanding amounts due associated with purchase commitments for miners; however, the Company expects to incur ongoing capital expenditures in the first half of 2023 related to the Odessa Facility that will require resources beyond the Company’s existing financial resources as of December 31, 2022. Management intends to continue with the infrastructure buildout at the Odessa Facility to get the site to full capacity in support of the Company’s current business plans. Management believes that the Company’s existing financial resources, combined with projected cash and bitcoin inflows from its data centers and its intent and ability to sell bitcoin received or earned, will be sufficient to enable the Company to meet its operating and capital requirements for at least 12 months from the date these consolidated financial statements are issued.There is limited historical financial information about the Company upon which to base an evaluation of its performance. The business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in exploration and/or development, and possible cost overruns due to price and cost increases in services. The Company’s management has no current intention of entering into a merger or acquisition within the next 12 months. The Company may require additional capital to pursue certain business opportunities or respond to technological advancements, competitive dynamics or technologies, customer demands, challenges, acquisitions or unforeseen circumstances. Additionally, the Company has incurred and expects to continue to incur significant costs related to becoming a public company. Accordingly, the Company may engage in equity or debt financings or enter into credit facilities for the above-mentioned or other reasons; however, the Company may not be able to timely secure additional debt or equity financings on favorable terms, if at all. If the Company raises additional funds through equity financing, its existing stockholders could experience significant dilution. Furthermore, any debt financing obtained by the Company in the future could involve restrictive covenants relating to the Company’s capital raising activities and other financial and operational matters, which may make it more difficult for the Company to obtain additional capital and to pursue business opportunities. If the Company is unable to obtain adequate financing on terms that are satisfactory to the Company, when the Company requires it, the Company’s ability to continue to grow or support the business and to respond to business challenges could be significantly limited, which may adversely affect the Company’s business plan.As disclosed in Note 15, Stockholders’ Equity, on September 21, 2022, the Company entered into an at-the-market offering agreement (the “Sales Agreement”) with H.C. Wainwright & Co., LLC (the “Agent”), pursuant to which the Company may, from time to time, sell up to $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">250.0 million in shares of Common Stock through the Agent. The Company has not sold any shares of its Common Stock under the Sales Agreement as of the issuance of these consolidated financial statements.Macroeconomic conditions: COVID-19 and other economic, business and political conditionsThe Company’s results of operations could be adversely affected by general conditions in the global economy and in the global financial markets, including conditions that are outside of the Company’s control, such as any epidemics, pandemics or disease outbreaks or other public health conditions. For example, the COVID-19 pandemic (“COVID-19”) that was declared on March 11, 2020 has caused significant economic dislocation in the United States (“U.S.”) and globally as governments across the world, including the U.S., introduced measures aimed at preventing the spread of COVID-19. While most policies and regulations implemented by governments in response to COVID-19 have been lifted, they have had a significant impact, both directly and indirectly, on global business and commerce.The Company may experience disruptions to its business operations resulting from supply interruptions, quarantines, self-isolations, or other movement and restrictions on the ability of its employees or its counterparties to perform their jobs. The Company may also experience delays in construction and obtaining necessary equipment in a timely fashion. For example, in early January 2022, construction at the Alborz Facility was temporarily shut down in response to employees being impacted by COVID-19. The temporary shutdown was less than a week, and construction resumed at the site immediately after. If the Company is unable to effectively set up and service its miners, its ability to mine bitcoin will be adversely affected. There is no assurance that COVID-19 or any other pandemic, or other unfavorable global economic, business or political conditions, such as a rise in energy prices, a slowdown in the U.S. or international economy, high inflation rates or other factors, will not materially and adversely affect the Company's business, prospects, financial condition’ and operating results.

1.00

P30D

1.00

P10D 4 1 3

0.816

11900000

7400000

342900000

-111200000

188100000 114900000 127800000 12953 3254 3254 33400000 79900000 25407 73000000.0 250000000.0

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Basis of presentation and principles of consolidationThe Company prepares its consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as determined by the FASB and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”).The Merger was accounted for as a reverse recapitalization in accordance with GAAP (the “Reverse Recapitalization”). Under this method of accounting, GWAC was treated as the acquired company and CMTI was treated as the acquirer for financial statement reporting purposes.Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of CMTI issuing stock for the net assets of GWAC, accompanied by a recapitalization. The net assets of GWAC are stated at historical cost, with no goodwill or other intangible assets recorded, see Note 3, Business Combination.CMTI was determined to be the accounting acquirer based on an evaluation of the following facts and circumstances:<div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">CMTI’s existing shareholder has the greatest voting interest in the Company;</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">the majority of the members of the board of directors of the Company (“Board”) are primarily composed of individuals associated with CMTI;</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">CMTI’s senior management is the senior management of the Company; and</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">CMTI’s operations prior to the Reverse Recapitalization comprise the only ongoing operations of the Company after the consummation of the Business Combination.</div></div>The consolidated assets, liabilities and results of operations prior to the Reverse Recapitalization are those of CMTI. The shares and corresponding capital amounts and losses per share prior to the Business Combination have been retroactively restated based on shares reflecting the exchange ratio established in the Business Combination, see Note 3, Business Combination.The consolidated financial statements include the accounts of the Company and its controlled subsidiary, CMTI. All intercompany transactions and balances have been eliminated.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Emerging growth companyThe Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company, which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Use of estimates The preparation of financial statements in conformity with 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 consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates inherent in the preparation of the Company’s consolidated financial statements include, but are not limited to, those related to equity instruments issued in share-based compensation arrangements, valuations of its derivative asset and warrant liability, useful lives of property and equipment, the asset retirement obligation and the valuation allowance associated with the Company’s deferred tax assets, among others. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Change in fiscal yearCMTI assumed GWAC’s financial calendar for the combined entity beginning with the third fiscal quarter ended September 30, 2021 and its fiscal year for the eleven months ended December 31, 2021. This change to the fiscal year end was approved by the Board on September 23, 2021. CMTI’s fiscal year previously ended on January 31.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Cash and cash equivalentsThe Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. The Company’s cash equivalents consist of funds held in money market accounts. The Company had $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10.9 million and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101.0 million in cash equivalents as of December 31, 2022 and 2021, respectively.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Concentrations of credit riskFinancial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. Periodically, the Company maintains deposits in financial institutions in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on these deposits.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Accounts receivableThe Company’s accounts receivable balance consists of amounts due from its only customer, a mining pool operator. Amounts recorded in accounts receivable as of December 31, 2022 consist of the block rewards and transaction fees earned the last day (last contract period) of the year, but not yet received from the mining pool operator. <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">No allowance was recorded as of December 31, 2022.</div><div style="font-size:12.0pt;font-family:"Times New Roman", serif;">Fair value of financial instrumentsThe Company’s financial assets and liabilities are accounted for in accordance with ASC 820, Fair Value Measurement (“ASC 820”), which defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs when measuring fair value and classifies those inputs into three levels:Level 1 – Observable inputs, such as quoted prices in active markets for identical assets and liabilities.Level 2 – Inputs other than Level 1 inputs that are either directly or indirectly observable, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the instrument’s anticipated life.Level 3 – Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.To the extent the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair values requires more judgement. Accordingly, the degree of judgement exercised by management in determining fair value is greatest for instruments categorized as Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.The carrying values reported in the Company’s consolidated balance sheets for cash (excluding cash equivalents which are recorded at fair value on a recurring basis), accounts payable and accrued expenses and other current liabilities are reasonable estimates of their fair values due to the short-term nature of these items.As of December 31, 2022, the Company had an embedded derivative asset in the accounts receivable recorded for the amount of block rewards and transaction fees earned the last day (last contract period) of the year. The derivative asset is classified within Level 1 of the fair value hierarchy because fair value is based on quoted prices in an active market. Changes in fair value of the derivative asset are presented within operating expense (income) in the consolidated statement of operations. Refer to Note 18, Fair Value Measurements, for further information about the Level 3 asset and liability rollforwards of activity and Level 3 inputs.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">BitcoinBitcoin are included in current assets on the consolidated balance sheets. Bitcoin that are temporarily held for the Company’s joint venture partner as of December 31, 2022, are included in prepaid and other current assets on the consolidated balance sheet. Bitcoin received through the Company’s wholly-owned mining activities are accounted for in connection with the Company’s revenue recognition policy. Bitcoin awarded to the Company as distributions-in-kind from equity investees are accounted for in accordance with ASC 845, Nonmonetary Transactions, and recorded at fair value upon receipt. Bitcoin held by the Company are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value. 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. The Company has elected to bypass the optional qualitative impairment assessment and to track its bitcoin activity daily for impairment assessment purposes. The Company determines the fair value of its bitcoin on a nonrecurring basis in accordance with ASC 820 based on quoted prices on the active trading platform that the Company has determined is its principal market for bitcoin (Level 1 inputs). The Company performs an analysis each day to identify whether events or changes in circumstances, principally decreases in the quoted price of bitcoin on the active trading platform, indicate that it is more likely than not that its bitcoin are impaired. For impairment testing purposes, the lowest intra-day trading price of bitcoin is identified at the single bitcoin level (one bitcoin). The excess, if any, of the carrying amount of bitcoin and the lowest daily trading price of bitcoin represents a recognized impairment loss. 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. The Company recognized impairment charges of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.5 million on its bitcoin during the year ended December 31, 2022. The Company did <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">not hold any bitcoin during the eleven months ended December 31, 2021.Bitcoin awarded to the Company through its mining activities are included as an adjustment to reconcile net loss to cash used in operating activities on the consolidated statements of cash flows. Proceeds from sales of bitcoin are included within cash flows from operating activities on the consolidated statements of cash flows and any realized gains or losses from such sales are included in costs and operating expenses (income) on the consolidated statements of operations. The receipt of bitcoin as distributions-in-kind from equity investees are included within investing activities on the consolidated statements of cash flows. Bitcoin are sold on a first-in-first-out basis.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Property and equipment, netProperty and equipment consists primarily of miners and mining equipment, leasehold improvements and construction-in-progress at the Odessa Facility and is stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, which ranges from three to seven years. Leasehold improvements include capitalized asset retirement costs (see the related Asset Retirement Obligation policy below) and the substation right-of-use asset (further discussed in Note 13, Leases), both of which are amortized over the estimated useful life of the related assets. All other leasehold improvements are depreciated over the lesser of the estimated useful life of the asset or the remaining life of the related lease. Costs of maintenance, repairs and minor replacements are expensed when incurred. Construction-in-progress is comprised of assets which have not been placed into service and is not depreciated until the related assets or improvements are ready to be placed into service.The Company accounts for the costs of software developed for internal use by capitalizing costs incurred during the application development stage to property and equipment, net on its consolidated balance sheets. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. The Company plans to amortize the capitalized costs of internal-use software on a straight-line basis over the estimated useful life of the asset, which is expected to be three years. The Company will recognize the amortization of software in depreciation expense on the consolidated statements of operations once the software is technologically feasible.<div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The estimated useful lives for all property and equipment are as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:72.553%;"/> <td style="width:1.603%;"/> <td style="width:25.844%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Useful lives (in years)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;">Software</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:left;">3</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;">Office and computer equipment</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:left;">3</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;">Leasehold improvements</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:left;">5</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;">Miners and mining equipment</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:left;">5</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;">Furniture and fixtures</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:left;">7</td> </tr> </table></div></div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Impairment of long-lived assetsManagement reviews long-lived assets, including leases and investments, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, asset group or investment may not be recoverable. Recoverability of assets to be held and used are measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. Because the impairment test for long-lived assets held in use is based on estimated undiscounted cash flows, there may be instances where an asset or asset group is not considered impaired, even when its fair value may be less than its carrying value, because the asset or asset group is recoverable based on the cash flows to be generated over the estimated life of the asset or asset group. If such assets are considered to be impaired, the impairment to be recognized will be measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Due to the presence of several triggering events, generally related to the cryptocurrency mining industry and the price of Bitcoin, indicating that the carrying amount of the Company’s long-lived assets might not be recoverable, management of the Company compared the carrying amounts of the long-lived assets to their estimated undiscounted future cash flows as of December 31, 2022 and concluded that there was <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">no impairment. There were <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">no indicators of impairment during the eleven months ended December 31, 2021. </div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Investment in equity investeesThe Company accounts for investments using the equity method of accounting if the investments provide the Company the ability to exercise significant influence, but not control, over its investees. Significant influence is generally deemed to exist if the Company has an ownership interest in the voting stock of an investee of between <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">20 percent and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">50 percent, or an ownership interest greater than <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">three to <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">five percent in certain partnerships, unincorporated joint ventures and limited liability companies, although other factors are considered in determining whether the equity method of accounting is appropriate. Under this method, an investment in the common stock of an investee (including a joint venture) shall be initially measured and recorded at cost; however, an investor shall initially measure at fair value an investment in the common stock of an investee (including a joint venture) recognized upon the derecognition of a distinct nonfinancial asset at the time that control over the distinct nonfinancial asset is transferred to the equity investee, such as that which occurs upon the transfer of miners and mining equipment to a joint venture from the Company. The Company’s investments are subsequently adjusted to recognize its share of net income or losses as they occur. The Company also adjusts its investment upon receipt of bitcoin from an equity investee, which is accounted for as a distribution-in-kind that is measured as of time of receipt. The Company’s share of investees’ earnings or losses is recorded, net of taxes, within equity in losses of equity investees on the Company’s consolidated statement of operations. Additionally, the Company’s interest in the net assets of its equity method investees is reflected on its consolidated balance sheet. If, upon the Company’s contribution of nonfinancial assets to a joint venture, there is any difference between the cost of the investment and the amount of the underlying equity in the net assets of the investee, the difference is required to be accounted for as if the investee were a consolidated subsidiary. If the difference is assigned to depreciable or amortizable assets or liabilities, then the difference should be amortized or accreted in connection with the equity earnings based on the Company’s proportionate share of the investee’s net income or loss. If the Company is unable to relate the difference to specific accounts of the investee, the difference should be considered goodwill.The Company considers whether the fair value of its equity method investments have declined below their carrying values whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If the Company considered any such decline to be other than temporary (based on various factors, including historical financial results, success of the mining operations and the overall health of the investee’s industry), then the Company would record a write-down to the estimated fair value.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Deferred investment costsDeferred investment costs consist of legal fees incurred through the balance sheet date that were directly related to the formation of a joint venture and which were capitalized as part of the Company’s total investment in the joint venture upon consummation of the joint venture agreement, see Note 8, Investment in Equity Investees.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Asset retirement obligationAsset retirement obligations relate to the legal obligations associated with the retirement of long-lived assets that result from the construction, development and/or normal operation of a long-lived asset. The Company currently has one asset retirement obligation (“ARO”) related to the construction of the data center and installation of the related electrical infrastructure at the Odessa Facility. ASC 410, Asset Retirement and Environmental Obligations (“ASC 410”) requires an entity to record the fair value of a liability for an ARO in the period in which it is incurred if a reasonable estimate of fair value can be made. Due to the long lead time involved until decommissioning activities occur, the Company uses a present value technique to estimate the liability. A liability for the fair value of the ARO based on the expected present value of estimated future decommissioning costs with a corresponding increase to the carrying value of the related long-lived asset (leasehold improvements) was recorded upon commencement of the lease in November 2022. The estimated capitalized asset retirement costs are depreciated using the straight-line method over the estimated remaining useful life of the related long-lived asset, with such depreciation included in depreciation expense in the consolidated statements of operations. The ARO is accreted based on the original discount rate and is recognized as an increase in the carrying amount of the liability and a charge to accretion expense, which is included in depreciation expense in the consolidated statements of operations. Annually, or more frequently if an event occurs that would dictate a change in assumptions or estimates underlying the obligation, the Company reassesses its ARO to determine whether any revisions to the obligation are necessary. Revisions to the estimated ARO for items such as (i) new liabilities incurred, (ii) liabilities settled during the period and (iii) revisions to estimated future cash flow requirements (if any), will result in adjustments to the related capitalized asset and corresponding liability.In order to determine the fair value of the ARO, the Company’s management made certain estimates and assumptions including, among other things, projected cash flows, the borrowing interest rate and an assessment of market conditions that could significantly impact the estimated fair value. These estimates and assumptions are subjective. See additional information regarding the ARO in Note 12, Asset Retirement Obligation.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">LeasesThe Company accounts for leases in accordance with ASC 842, Leases (“ASC 842”). Accordingly, the Company determines whether an arrangement contains a lease at the inception of the arrangement. If a lease is determined to exist, the term of such lease is assessed based on the date on which the underlying asset is made available for the Company’s use by the lessor. The Company’s assessment of the lease term reflects the non-cancelable term of the lease, inclusive of any rent-free periods and/or periods covered by early-termination options which the Company is reasonably certain of not exercising, as well as periods covered by renewal options which the Company is reasonably certain of exercising. The Company also determines lease classification as either operating or finance at lease commencement, which governs the pattern of expense recognition and the presentation reflected in the consolidated statements of operations over the lease term.For leases with a term exceeding 12 months, a lease liability is recorded on the Company’s consolidated balance sheet at lease commencement reflecting the present value of its fixed minimum payment obligations over the lease term. A corresponding right-of-use (“ROU”) asset equal to the initial lease liability is also recorded, adjusted for any accrued or prepaid rents and/or unamortized initial direct costs incurred in connection with execution of the lease and reduced by any lease incentives received. For purposes of measuring the present value of its fixed payment obligations for a given lease, the Company generally uses its incremental borrowing rate, determined based on information available at lease commencement, if rates implicit in its leasing arrangements are not readily determinable. The Company’s incremental borrowing rate reflects the rate it would pay to borrow on a secured basis and incorporates the term and economic environment of the associated lease. ROU assets will be reviewed for impairment, consistent with other long-lived assets, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the interest method of recognition. For leases with a term of 12 months or less, any fixed payments are recognized on a straight-line basis over the lease term and are not recognized on the Company’s consolidated balance sheet as an accounting policy election. Leases qualifying for the short-term lease exception are insignificant. Variable lease costs are expensed as incurred and are not included in the measurement of ROU assets and lease liabilities.ASC 842 provides practical expedients for an entity’s ongoing accounting. The Company elected the practical expedient not to separate lease and non-lease components for all leases, which means all consideration that is fixed, or in-substance fixed, relating to the non-lease components will be captured as part of the Company’s lease components for balance sheet purposes. </div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Common stock warrantsUpon the consummation of the Business Combination, the Company assumed common stock warrants that were originally issued in GWAC’s initial public offering (the “Public Warrants”), as well as warrants that were issued in a private placement that closed concurrently with GWAC’s initial public offering (the “Private Placement Warrants”). See Note 16, Warrants for additional information on the Public Warrants and Private Placement Warrants.The Company is capitalized as a single class of common stock, accordingly, a qualifying cash tender offer of more than <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">50% of the Common Stock will always result in a change-in-control, and in accordance with ASC 815-40-55-3, this would not preclude permanent equity classification of the Public Warrants; therefore, the Public Warrants are equity classified.The Private Placement Warrants are accounted for as a liability under ASC 815-40, Derivatives and Hedging - Contracts in Entity’s Own Equity, as they are a freestanding financial instrument that require the Company to transfer assets upon exercise. The Company recorded the Private Placement Warrants as a liability in the consolidated balance sheet at fair value on the Closing Date, with subsequent changes in fair value recognized in the change in fair value of warrant liability within the consolidated statements of operations. The Private Placement Warrants were valued using a Black-Scholes option-pricing model as described in Note 18, Fair Value Measurements.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Treasury stockTreasury share purchases obtained through share withholdings for taxes are recorded at par value.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Revenue recognitionThe Company recognizes revenue under ASC 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:<div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Step 1: Identify the contract with the customer</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Step 2: Identify the performance obligations in the contract</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Step 3: Determine the transaction price</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Step 4: Allocate the transaction price to the performance obligations in the contract</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Step 5: Recognize revenue when the company satisfies a performance obligation</div></div>In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract).If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following:<div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Variable consideration</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Constraining estimates of variable consideration</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">The existence of a significant financing component in the contract</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Noncash consideration</div></div><div style="margin-left:3.333%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.333%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:3.447919145106397%;">•<div style="display:inline;">Consideration payable to a customer</div></div>Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The standalone selling price is the price at which the Company would sell a promised service separately to a customer. The relative selling price for each performance obligation is estimated using observable objective evidence if it is available. If observable objective evidence is not available, the Company uses its best estimate of the selling price for the promised service. In instances where the Company does not sell a service separately, establishing standalone selling price requires significant judgment. The Company estimates the standalone selling price by considering available information, prioritizing observable inputs such as historical sales, internally approved pricing guidelines and objectives, and the underlying cost of delivering the performance obligation. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate.Management judgment is required when determining the following: when variable consideration is no longer probable of significant reversal (and hence can be included in revenue); whether certain revenue should be presented gross or net of certain related costs; when a promised service transfers to the customer; and the applicable method of measuring progress for services transferred to the customer over time.The Company entered into a bitcoin mining pool by executing a contract, as amended from time to time, with a mining pool operator to provide computing power to the mining pool. Specifically, in November 2022, the Company entered into a mining pool contract with Foundry USA Pool (“Foundry”). Providing computing power to a mining pool operator for the purpose of cryptocurrency transaction verification is an output of the Company’s ordinary activities. The contract is terminable at any time by either party with no substantive termination penalty. The Company’s enforceable right to compensation begins when, and lasts for as long as, the Company provides computing power to the mining pool operator; the Company’s performance obligation extends over the contract term given the Company’s continuous provision of hashrate. This period of time corresponds with the period of service for which the mining pool operator determines compensation due the Company. Given cancellation terms of the contract, and the Company’s customary business practice, the contract effectively provides the Company with the option to renew for successive contract terms of 24 hours. The options to renew are not material rights because they are offered at the standalone selling price of computing power. The Company elected the optional exemption to not disclose the transaction price allocated to remaining performance obligations that are part of a contract that has an original expected duration of one year or less.The provision of computing power in accordance with the mining pool operator’s terms of service is the only performance obligation in the Company’s contract with the mining pool operator, its customer. In exchange for providing computing power pursuant to Foundry’s terms of service, the Company is entitled to noncash consideration in the form of bitcoin, measured under the Full Pay Per Share (“FPPS”) approach. Under the FPPS approach, the Company is entitled to a fractional share of the fixed bitcoin award from the mining pool operator (referred to as a “block reward”) and potentially transaction fees generated from (paid by) blockchain users and distributed (paid out) to individual miners by the mining pool operator. The Company’s fractional share of the block reward is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm, over the contract term. The Company is entitled to its relative share of consideration even if a block is not successfully placed. In other words, the Company receives consideration once after the end of each 24-hour contract period, regardless of whether the pool successfully places a block. The Company proportionate share of transaction fees is based on the Company’s contributed share of hashrate as a percentage of total network hashrate during the contract term.The mining pool operator calculates block rewards under the FPPS approach described above and may charge a pool fee for maintenance of the pool that reduces the amount of block rewards to which the Company is entitled. Foundry did not claim a fee for any block rewards earned by the Company in 2022. After every 24-hour contract term, the Company receives a payout and the pool transfers the bitcoin consideration to the Company’s designated bitcoin wallet.Noncash consideration is measured at fair value at contract inception. Fair value of the bitcoin consideration is determined using the quoted price on the Company’s principal market for bitcoin at the beginning of the contract period at the single bitcoin level (one bitcoin). This amount is recognized in revenue over the contract term as hashrate is provided. Changes in the fair value of the noncash consideration due to form of the consideration (changes in the market price of bitcoin) are not included in the transaction price and hence are not included in revenue. Changes in fair value of the noncash consideration post-contract inception that are due to reasons other than form of consideration (other than changes in the market value of bitcoin) are measured based on the guidance on variable consideration, including the constraint on estimates of variable consideration.Because the consideration to which the Company expects to be entitled for providing computing power is entirely variable, as well as being noncash consideration, the Company assesses the estimated amount of the variable noncash consideration at contract inception and subsequently, to determine when and to what extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is subsequently resolved (the “constraint”). Only when significant revenue reversal is concluded probable of not occurring can estimated variable consideration be included in revenue. Based on evaluation of likelihood and magnitude of a reversal in applying the constraint, the estimated variable noncash consideration is constrained from inclusion in revenue until the end of the contract term, when the underlying uncertainties have been resolved and number of bitcoin to which the Company is entitled becomes known.There is no significant financing component in these transactions.During the year ended December 31, 2022, the Company earned revenue of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">3.0 million from Foundry, its only customer, representing <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">100% of total consolidated revenue. The Company’s ability to satisfy its performance obligation under its contract with the mining pool operator to provide computing power may be contracted to various third parties and there is a risk that if these parties are unable to perform or curtail their operations, the Company’s revenue and operating results may be affected. Please see Note 5, Derivative, for additional information about the Company’s power arrangements.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Cost of revenueCost of revenue consists primarily of direct production costs of bitcoin mining operations, which for the year ended December 31, 2022 consisted mainly of electricity expenses, but excludes depreciation which is separately stated. </div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Share-based compensationThe Company accounts for all share-based payments to employees, consultants and directors, which may include grants of stock options, stock appreciation rights, restricted stock awards and restricted stock units (“RSUs”) to be recognized in the consolidated financial statements, based on their respective grant date fair values. As of December 31, 2022, the Company has awarded only RSUs with service-based vesting conditions (“Service-Based RSUs”) and performance-based RSUs with market-based vesting conditions (“Performance-Based RSUs”). Compensation expense for all awards is amortized based upon a graded vesting method over the estimated requisite service period. All share-based compensation expenses are recorded in general and administrative expense in the consolidated statements of operations. Forfeitures are recorded as they occur. See also Note 17, Share-Based Compensation below.The fair value of Service-Based RSUs is the closing market price of Common Stock on the date of the grant. The Company employs a Monte Carlo simulation technique to calculate the fair value of the Performance-Based RSUs on the date granted based on the average of the future simulated outcomes. The Performance-Based RSUs contain different market-based vesting conditions that are based upon the achievement of certain market capitalization milestones. Under the Monte Carlo simulation model, a number of variables and assumptions are used including, but not limited to, the underlying price of Common Stock, the expected stock price volatility over the term of the award, a correlation coefficient, and the risk-free rate. The Performance-Based RSUs awarded do not have an explicit requisite service period, therefore compensation expense is recorded over a derived service period based upon the estimated median time it will take to achieve the market capitalization milestone using a Monte Carlo simulation.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Income taxes The Company complies with the accounting and reporting requirements of FASB ASC Topic 740, Income Taxes (“ASC 740”), which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. As of December 31, 2022 and December 31, 2021, the Company did <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">not have any significant uncertain tax positions. The Company will recognize interest and penalties related to uncertain tax positions in income tax expense. The Company did <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">not have any accrued interest or penalties related to uncertain tax positions recorded as of December 31, 2022 or December 31, 2021, and no amounts have been recognized in the Company’s consolidated statements of operations. The Company does not anticipate a material change to unrecognized tax benefits in the next 12 months.The Company files income tax returns in the United States federal tax jurisdiction and various state jurisdictions. The Company did not have any foreign operations during any periods presented in these consolidated financial statements. All of the Company’s tax years since inception are open for examination by the federal and state tax authorities and will remain open to the extent that the Company’s tax attributes are utilized in future years to offset income or income taxes. The Company is not aware of any tax examinations currently taking place.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Segment informationOperating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">one segment.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Net loss per shareBasic net loss per share is computed by dividing net loss allocable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share adjusts net loss and net loss per common share for the effect of all potentially dilutive shares of Common Stock. Basic net loss per common share is the same as dilutive net loss per common share for all periods presented as the inclusion of all potential common shares would have been antidilutive. Potential common shares consist of the Public Warrants and the Private Placement Warrants to purchase Common Stock (using the treasury stock method), as well as unvested RSUs.<div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The following table presents the common shares that are excluded from the computation of diluted net income (loss) per common share at December 31, 2022 and 2021, because including them would have been antidilutive. <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.263%;"/> <td style="width:1.003%;"/> <td style="width:1.0%;"/> <td style="width:18.091%;"/> <td style="width:1.0%;"/> <td style="width:1.014%;"/> <td style="width:1.0%;"/> <td style="width:18.63%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31,</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Public Warrants</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">8,499,980</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">8,500,000</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Private Placement Warrants</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">114,000</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">114,000</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Unvested RSUs</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">18,698,755</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11,055,948</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">27,312,735</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">19,669,948</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table></div></div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Recently issued and adopted accounting pronouncementsThe Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes to determine the consequences of the change to its consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s consolidated financial statements properly reflect the change.Recently adopted accounting pronouncementsIn December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. The new guidance removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted this guidance on January 1, 2022 with no impact to the Company’s consolidated financial statements upon adoption.In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). ASU 2021-04 reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. ASU 2021-04 provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. ASU 2021-04 was effective for the Company on January 1, 2022 and there was no impact on the Company’s financial statements or disclosures upon adoption.Effective February 1, 2021, the Company adopted ASC 842 using the modified retrospective method. This guidance requires a lessee to recognize both a ROU asset representing its right to use the underlying asset for the lease term and a liability for future lease payments on the balance sheet for almost all of its leases. The new guidance continues to differentiate between finance leases and operating leases; however, this distinction now primarily relates to differences in the manner of expense recognition over time. Classification for both lessees and lessors is now based on an assessment of whether a lease contract is economically similar to the purchase of a non-financial asset from the perspective of control. The new guidance also requires quantitative and qualitative disclosures to enable users to understand the amount, timing, and judgments related to leases and the related cash flows. There was no impact to the Company’s consolidated financial statements as of or for the eleven months ending December 31, 2021 resulting from the adoption of ASC 842.Recently issued accounting pronouncementsIn June 2016, the FASB issued Accounting Standards Update ASU No. 2016‑13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which was codified with its subsequent amendments as ASC Topic 326, Financial Instruments – Credit Losses (“ASC 326”). ASC 326 seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, including trade receivables, and other commitments to extend credit held by a reporting entity at each reporting date. The amendments require an entity to replace the incurred loss impairment methodology in other GAAP with a methodology that reflects current expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The updated guidance is effective for the Company on January 1, 2023. The Company does not expect that the adoption of ASC 326 will have a material impact on its consolidated financial statements and disclosures.</div>

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17833 7574 25407 NOTE 7. DEPOSITS ON EQUIPMENTUnder the August 2021 purchase agreement with Bitmain Technologies Limited (“Bitmain”), the Company purchased a total of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">27,000 Antminer S19j Pro (100 TH/s) (“S19j Pro”) miners and had received <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">27,035 miners from Bitmain at our data centers in Texas as of December 31, 2022. The Company has no further payment obligations under this agreement with Bitmain. In November and December 2022, the Company agreed to purchase an additional <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">5,000 and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">2,200 S19j Pros, respectively, from Bitmain. The Company utilized accumulated Bitmain credits and coupons for the majority of the purchase price for these miners and has no further payments due in respect of these orders.Under the framework agreement of September 2021 with SuperAcme Technology (Hong Kong) Limited (“SuperAcme”), which was amended and restated by the Amended and Restated Framework Agreement on Supply of Blockchain Servers (the “Amended and Restated Framework Agreement”), dated as of May 6, 2022, the Company agreed to purchase <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">60,000 MicroBT M30S, M30S+ and M30S++ miners. On November 4, 2022, the Company entered into a Supplementary agreement of the Framework Agreement on Supply of Blockchain Servers (the “Supplementary Agreement”) with SuperAcme, which amended and supplemented the Amended and Restated Framework Agreement by changing the previously agreed fixed and floating price terms for miners that had yet to be delivered. As of the date of the Supplementary Agreement and December 31, 2022, SuperAcme had delivered <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">17,833 miners to the Company in Texas, with an aggregate cost of approximately $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">51.1 million, and the Company had paid a total of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101.8 million to SuperAcme. The Company applied the remaining balance of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">50.7 million to purchase miners at the new fixed and floating price terms set forth in the Supplementary Agreement.The Company entered into two agreements with Bitfury USA Inc. (“Bitfury USA”), a subsidiary of Bitfury Top HoldCo, made under, and as a part of, the Master Services and Supply Agreement between the Company and Bitfury Top HoldCo dated August 26, 2021, to purchase a total of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">240 units of BlockBox air-cooled containers (each a “BBAC”), the modular data centers that house mining machines. The Company received delivery of all of the BBACs during the year ended December 31, 2022. See Note 11, Related Party Transactions, for more information on the Master Services and Supply Agreement.<div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The Company previously had an agreement for the purchase of between <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">28,000 to <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">56,000 mining rigs from Bitfury Top HoldCo, also made under, and as a part of, the Master Services and Supply Agreement. Upon execution of this agreement, the Company paid a $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10.0 million deposit to Bitfury Top HoldCo which was included in deposits on equipment in the Company’s consolidated balance sheet as of December 31, 2021; however, the agreement for the purchase of mining rigs was a non-binding commitment unless and until confirmed by a mutually executed order confirmation. No order confirmations were executed under this agreement and, as further described in Note 11, Related Party Transactions, shares of Common Stock held by Bitfury Top HoldCo were returned to the Company as consideration for, or repayment of, the $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10.0 million deposit.</div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The purchase agreement commitments, deposits paid and expected delivery timing are summarized below (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:13.317%;"/> <td style="width:1.277%;"/> <td style="width:16.227%;"/> <td style="width:1.29%;"/> <td style="width:1.0%;"/> <td style="width:14.844000000000001%;"/> <td style="width:1.0%;"/> <td style="width:1.29%;"/> <td style="width:1.0%;"/> <td style="width:13.032%;"/> <td style="width:1.0%;"/> <td style="width:1.29%;"/> <td style="width:1.0%;"/> <td style="width:14.254000000000001%;"/> <td style="width:1.0%;"/> <td style="width:1.29%;"/> <td style="width:15.884%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">Vendor</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Agreement Dates</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Original Maximum Purchase Commitment <span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);top:-3.752pt;white-space:pre-wrap;font-weight:bold;font-size:5.36pt;font-family:"Times New Roman", serif;position:relative;min-width:fit-content;">(1)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Open Purchase Commitment</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Deposits Paid</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Expected Shipping for Open Purchase Commitments</td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Bitmain Technologies Limited <span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);top:-4.221pt;white-space:pre-wrap;font-weight:normal;font-size:6.03pt;font-family:"Times New Roman", serif;position:relative;min-width:fit-content;">(2)</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">August 20, 2021 and August 30, 2021</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">171,135</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,720</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,720</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">February 2023 through April 2023</td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">SuperAcme Technology (Hong Kong) <span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);top:-4.221pt;white-space:pre-wrap;font-weight:normal;font-size:6.03pt;font-family:"Times New Roman", serif;position:relative;min-width:fit-content;">(2)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">May 6, 2022 and November 4, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">222,401</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">50,660</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">50,660</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">January 2023 through April 2023</td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Bitfury USA and other vendors (primarily for BBACs) <span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);top:-4.221pt;white-space:pre-wrap;font-weight:normal;font-size:6.03pt;font-family:"Times New Roman", serif;position:relative;min-width:fit-content;">(3)</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Various</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">20,638</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">20,638</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Total</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">73,018</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;border-bottom:2.25pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:9.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">73,018</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:top;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> </tr> </table> (1) Maximum purchase commitment did not consider discounts that the Company could qualify for with the respective vendors, which reduced the total cost of the miners.(2) Pursuant to the Company's agreements with Bitmain and SuperAcme, the Company is responsible for all logistics costs related to transportation, packaging for transportation and insurance related to the delivery of the miners.(3) See Note 11, Related Party Transactions, and Note 20, Subsequent Events, for additional information regarding payments for BBACs.</div> the Company purchased a total of 27,000 Antminer S19j Pro (100 TH/s) (“S19j Pro”) miners and had received 27,035 miners from Bitmain at our data centers in Texas as of December 31, 2022. The Company has no further payment obligations under this agreement with Bitmain. In November and December 2022, the Company agreed to purchase an additional 5,000 and 2,200 S19j Pros, respectively, from Bitmain. The Company utilized accumulated Bitmain credits and coupons for the majority of the purchase price for these miners and has no further payments due in respect of these orders. 27000 27035 5000 2200 Under the framework agreement of September 2021 with SuperAcme Technology (Hong Kong) Limited (“SuperAcme”), which was amended and restated by the Amended and Restated Framework Agreement on Supply of Blockchain Servers (the “Amended and Restated Framework Agreement”), dated as of May 6, 2022, the Company agreed to purchase 60,000 MicroBT M30S, M30S+ and M30S++ miners. On November 4, 2022, the Company entered into a Supplementary agreement of the Framework Agreement on Supply of Blockchain Servers (the “Supplementary Agreement”) with SuperAcme, which amended and supplemented the Amended and Restated Framework Agreement by changing the previously agreed fixed and floating price terms for miners that had yet to be delivered. 60000 17833 51100000 101800000 50700000 The Company entered into two agreements with Bitfury USA Inc. (“Bitfury USA”), a subsidiary of Bitfury Top HoldCo, made under, and as a part of, the Master Services and Supply Agreement between the Company and Bitfury Top HoldCo dated August 26, 2021, to purchase a total of 240 units of BlockBox air-cooled containers (each a “BBAC”), the modular data centers that house mining machines. The Company received delivery of all of the BBACs during the year ended December 31, 2022. See Note 11, Related Party Transactions, for more information on the Master Services and Supply Agreement.The Company previously had an agreement for the purchase of between 28,000 to 56,000 mining rigs from Bitfury Top HoldCo, also made under, and as a part of, the Master Services and Supply Agreement. Upon execution of this agreement, the Company paid a $10.0 million deposit to Bitfury Top HoldCo which was included in deposits on equipment in the Company’s consolidated balance sheet as of December 31, 2021; however, the agreement for the purchase of mining rigs was a non-binding commitment unless and until confirmed by a mutually executed order confirmation. No order confirmations were executed under this agreement and, as further described in Note 11, Related Party Transactions, shares of Common Stock held by Bitfury Top HoldCo were returned to the Company as consideration for, or repayment of, the $10.0 million deposit. 240 28000 56000

10000000.0

171135000

1720000 1720000 2023-02 2023-04 2022-05-06 2022-11-04

222401000

50660000 50660000 2023-01 2023-04 20638000 20638000 73018000 73018000

2021-06-10 0.51 0.49 0.51 0.49 0.02 0.50 0.50 0.02 0.50 0.50 0.49 0.49 -5600000 127800000 12953 3254 3254 33400000

P5Y

31400000 Activity in the Company’s investment in equity investees during the year ended December 31, 2022 consisted of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:72.553%;"/> <td style="width:1.592%;"/> <td style="width:1.0%;"/> <td style="width:23.855%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of January 1, 2022</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">$</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Cost of miners and mining equipment contributed, net of losses recognized upon contribution of miners</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">94,380</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Sales taxes to be paid by Cipher on behalf of equity investees</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">5,316</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Accretion of basis differences related to miner contributions</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">2,006</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Legal costs related to formation of joint ventures reclassified from deferred investment costs</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">174</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Capital distributions</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">54,009</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Bitcoin received from equity investees</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4,828</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Equity in net losses of equity investees</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">5,561</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of December 31, 2022</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">37,478</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table> 94380000 5316000 2006000 174000

54009000

4828000 -5561000

37478000

17730000

10352000

12600000 6300000 3100000 3100000

7300000

13800000

1200000 The Company’s accrued expenses and other current liabilities consisted of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.761%;"/> <td style="width:1.235%;"/> <td style="width:1.0%;"/> <td style="width:18.23%;"/> <td style="width:1.0%;"/> <td style="width:1.235%;"/> <td style="width:1.0%;"/> <td style="width:18.539%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31,</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Taxes (primarily sales tax)</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">18,798</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Finance lease</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">339</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Legal</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">215</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">100</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Accounting and audit</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">153</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Other</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Total accrued expenses and other current liabilities</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">19,353</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">257</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table> 18798000 0 339000 0 215000 100000 0 153000

1000

4000

19353000

257000

NOTE 11. RELATED PARTY TRANSACTIONSRelated party receivablesThe Company recorded related party receivables of approximately $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.1 million as of December 31, 2022 related to expenses paid on behalf of the Data Center LLCs for which it expects to be reimbursed.Waiver, Lock-up and Board Observer AgreementsOn April 8, 2022, the Company entered into a waiver agreement with Bitfury Top HoldCo (the “Waiver Agreement”), pursuant to which the Company waived certain restrictions on transfer of Common Stock under (a) that certain Lock-up Agreement, dated as of August 26, 2021, by and between GWAC and Bitfury Top HoldCo and (b) those certain Lock-up Agreements, dated August 26, 2021, by and between GWAC and each of (i) I-B Goodworks, LLC, (ii) Magnetar Financial LLC, (iii) Mint Tower Capital Management B.V., (iv) Periscope Capital, Inc. and (v) Polar Asset Management Partners Inc., respectively (the stockholders contemplated by clauses (a)-(b), the “Stockholders”) imposing similar restrictions on the Stockholders (collectively, the “Lock-up Agreements” and each a “Lock-up Agreement”).The Waiver Agreement was negotiated and approved by an independent committee of the Board. The Waiver Agreement permits each Stockholder to (i) pledge or otherwise hypothecate the Lock-up Shares (as defined in the Lock-up Agreements) held by such Stockholder as of the date of the Waiver Agreement (the shares that are actually pledged or otherwise hypothecated, the “Pledged Shares”) as collateral or security in connection with any loan meeting certain criteria set forth in the Waiver Agreement and (ii) transfer the Pledged Shares upon foreclosure by such pledgee in accordance with the terms of the applicable pledge or hypothecation; provided that such waiver will only apply and be effective if certain conditions specified in the Waiver Agreement are satisfied or waived. Additionally, effective as of the date of consummation of any pledge or hypothecation, and solely in regard to any pledged shares, the Lock-up Period, as defined in the applicable Lock-up Agreement, shall be extended an additional three months to November 26, 2023. Furthermore, the Waiver Agreement provided for the cancellation of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">2,890,173 shares of Common Stock held by Bitfury Top HoldCo and subject to the Lock-up Agreements as consideration for the $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10.0 million deposit paid by the Company for Bitfury Top HoldCo mining rigs under the agreement dated October 11, 2021, for which no order confirmation was made, as discussed in Note 7, Deposits on Equipment.On April 8, 2022, the Company also entered into an observer agreement (the “Board Observer Agreement”) with Bitfury Holding and Bitfury Top HoldCo (together with Bitfury Holding, the “Investors”), which provides that the Investors have the right to designate a representative to serve as an observer of the Board and any committees thereof (subject to exceptions and limitations specified in the Board Observer Agreement). The Board Observer Agreement was negotiated and approved by an independent committee of the Board.Master Services and Supply AgreementOn August 26, 2021, Bitfury Top HoldCo and the Company entered into the Master Services and Supply Agreement. The initial term of the agreement is 84 months, with automatic 12-month renewals thereafter (unless either party provides sufficient notice of non-renewal). Pursuant to this agreement, the Company can request and Bitfury Top HoldCo is required to use commercially reasonable efforts to provide, or procure the provision of, certain equipment and/or services, such as construction, engineering and operations, in each case as may be required to launch and maintain the Company’s bitcoin mining data centers in the United States. The Master Services and Supply Agreement is not exclusive to Bitfury Top HoldCo or any of its affiliates, and the Company may retain any other parties to manufacture and deliver any equipment or perform any of the services required. The Company is not obligated to order any equipment or services from the Bitfury Group under the Master Services and Supply Agreement. In addition to the Master Services and Supply Agreement, the Company and Bitfury Holding also entered into a fee side letter, which sets out the basic pricing framework applicable under the Master Services and Supply Agreement for any services. Under the fee side letter, monthly fees for any potential future services, if any, would be determined by reference to two groups of services, which may be provided under the Master Services and Supply Agreement: (i) Bitfury Top HoldCo’s “onsite” services fee would be calculated on a straight cost +5% basis (plus applicable duties and taxes); and (ii) Bitfury Top HoldCo’s “remote services” would be calculated on a ratchet basis applying a management fee of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,000/MW up to <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">445MW (capped at $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">200,000/month) and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">450USD/MW above <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">445MW (plus applicable duties and taxes).Purchase commitments, deposits on equipment and related party payablesAs discussed above in Note 7, Deposits on Equipment, the Company entered into two agreements with Bitfury USA made under, and as part of, the Master Services and Supply Agreement to purchase a total of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">240 units of BBACs, the modular data centers that house mining machines. During the year ended December 31, 2022, the Company paid a total of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">21.7 million to Bitfury USA, which was recorded on the Company’s consolidated balance sheet as deposits on equipment until receipt and deployment of the equipment at its four mining data centers. As of December 31, 2022, $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.5 million and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.1 million, respectively, of deposits on equipment and construction-in-progress on its consolidated balance sheets related to amounts owed by the Company to Bitfury USA, which were accrued in accounts payable, related party.Additionally, prior to the Business Combination, Bitfury USA contracted with third-party vendors for the purchase of equipment and the receipt of services related to Cipher’s future mining operations. Prior to December 31, 2021, Bitfury USA made payments under these arrangements totaling $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">2.4 million. The Company reimbursed Bitfury USA for these amounts plus a <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7% service fee upon completion of the Business Combination and, as a result, recorded the amounts reimbursed to Bitfury (including the service fee) as follows: $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">2.5 million and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.1 million was recorded to deposits on equipment and construction-in-progress, respectively, on the Company's consolidated balance sheet as of December 31, 2021. Pursuant to one of these arrangements between Bitfury USA and a third-party vendor, Paradigm Controls of Texas, LLC (“Paradigm”), the Company made payments directly to Paradigm in place of Bitfury USA, in respect of manufacturing services for BBACs, totaling $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">13.1 million during the second half of 2022 and the Company’s obligations to Bitfury USA under the Master Services and Supply Agreement were reduced by the same amount.Additionally, during the year ended December 31, 2022, the Company assisted WindHQ with the liquidation of some of WindHQ’s bitcoin holdings. Once liquidated, the proceeds are received by the Company and the Company then forwards those proceeds to WindHQ. As of December 31, 2022, the Company had $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.2 million of bitcoin and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.3 million of proceeds received, but not yet transferred to WindHQ, respectively, recorded in accounts payable, related party on its consolidated balance sheet.

1100000

2890173

10000000.0

P84M P12M Bitfury Top HoldCo’s “onsite” services fee would be calculated on a straight cost +5% basis (plus applicable duties and taxes) 1000 445 200000 450 445 240

21700000

500000

1100000

2400000 0.07 2500000 100000 13100000 1200000 300000

16509000

173000

16682000

526000

137000

663000

1359000

103000

2125000

790000

14998000

5859000

P4Y8M12D

P4Y4M24D

0.110

0.109

14471000

500000

4068000

1581000

5649000

4068000

1581000

5649000

4068000

1581000

5649000

4068000

1581000

5649000

2712000

659000

3371000

18984000

6983000

25967000

4188000

1459000

5647000

14796000

5524000

20320000

5100000 1700000 2021-02-03 2023-02-02

510000000 0.001

500000000

10000000

one vote

691088

2852259

2890173

10000000.0

2022-10-06 500000000.0 23265565 85500 8499978

8499978

114000

250000000.0 500000000.0 0.030 NOTE 16. WARRANTSThe Company assumed the Public and Private Placement Warrants, as mentioned above in Note 2, Summary of Significant Accounting Policies, upon consummation of the Business Combination. The Public and Private Placement Warrants entitle the holder to purchase <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">one share of Common Stock at an exercise price of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.50 per share, subject to adjustment. There were <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">8,499,980 Public Warrants and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">114,000 Private Placement Warrants outstanding as of December 31, 2022 and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">8,500,000 Public Warrants and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">114,000 Private Placement Warrants outstanding as of December 31, 2021. The exercise price and number of shares of Common Stock issuable on exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, extraordinary dividend or the Company’s recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuances of shares of Common Stock at a price below their respective exercise prices. Additionally, in no event will the Company be required to net cash settle the warrants.Public WarrantsThe Public Warrants are exercisable, provided in each case that the Company has an effective registration statement covering the shares of Common Stock issuable upon exercise of the Public Warrants and a current prospectus relating to such shares of Common Stock is available (or the Company permits holders to exercise their Public Warrants on a cashless basis under the circumstances specified in the warrant agreement) and such shares of Common Stock are registered, qualified or exempt from registration under the securities or blue sky laws of the state of residence of the holder. The Public Warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation.The Company may redeem the outstanding warrants (except as described below with respect to the Private Placement Warrants):<div style="font-size:10.0pt;font-family:"Times New Roman", serif;"><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•<div style="display:inline;">in whole and not in part;</div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•<div style="display:inline;">at a price of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.01 per warrant;</div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•<div style="display:inline;">upon a minimum of 30 days’ prior written notice of redemption to each warrant holder;</div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•<div style="display:inline;">if, and only if, the closing price of Common Stock equals or exceeds $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">18.00 per share (as adjusted for share splits, stock capitalizations, reorganizations, recapitalizations and the like), for any 20 trading days within a 30-trading day period ending three trading days before the Company sends notice of redemption to warrant holders.</div></div></div>If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement.Private Placement WarrantsThe Private Placement Warrants have terms and provisions that are identical to the Public Warrants, except that the Private Placement Warrants and the shares of Common Stock issuable upon the exercise of the Private Placement Warrants did not become transferable, assignable or salable until September 27, 2021, subject to certain limited exceptions. Additionally, the Private Placement Warrants are exercisable for cash or on a cashless basis, at the holder’s option, and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants are redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants.

11.50

8499980

114000

8500000

114000

P5Y

he Company may redeem the outstanding warrants (except as described below with respect to the Private Placement Warrants):•in whole and not in part;•at a price of $0.01 per warrant;•upon a minimum of 30 days’ prior written notice of redemption to each warrant holder;•if, and only if, the closing price of Common Stock equals or exceeds $18.00 per share (as adjusted for share splits, stock capitalizations, reorganizations, recapitalizations and the like), for any 20 trading days within a 30-trading day period ending three trading days before the Company sends notice of redemption to warrant holders. 0.01 P30D 18.00 P20D P30D

Initially, up to 19,869,312 shares of Common Stock were available for issuance under awards granted pursuant to the Incentive Award Plan. In addition, the number of shares of Common Stock available for issuance under the Incentive Equity Plan is increased on January 1 of each calendar year beginning in 2022 and ending in 2031 by an amount equal to the lesser of (a) three percent (3%) of the total number of shares of Common Stock outstanding on the final day of the immediately preceding calendar year and (b) such smaller number of shares determined by the Board.

19869312

0.03 7478382 7426559

1044594

27952

62094

13552

1671

41504

63765

6798238

8.04

9701634

1.84

205048

6.34

1853780

7.52

14441044

3.96

39400000

P1Y7M6D

5676946

7096183

2838473

4257710

10000000000

4257710

7.76

17800000

P1Y4M24D

5000000000 7500000000 10000000000 P30D P30D P30D P30D

0.0160

P10Y

0.961

NOTE 18. FAIR VALUE MEASUREMENTS<div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The Company’s financial assets and liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows as of the dates indicated (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:39.459%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:11.998%;"/> <td style="width:1.0%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:11.998%;"/> <td style="width:1.0%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:12.104%;"/> <td style="width:1.0%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:12.434999999999999%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="14" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Fair Value Measured as of December 31, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 1</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 2</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 3</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Total</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Assets included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Cash and cash equivalents</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Money market securities</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10,943</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10,943</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Accounts receivable</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">98</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">98</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Derivative asset</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11,041</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">77,743</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Liabilities included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Warrant liability</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:41.314%;"/> <td style="width:1.584%;"/> <td style="width:1.0%;"/> <td style="width:11.95%;"/> <td style="width:1.0%;"/> <td style="width:1.111%;"/> <td style="width:1.0%;"/> <td style="width:10.443%;"/> <td style="width:1.0%;"/> <td style="width:1.034%;"/> <td style="width:1.0%;"/> <td style="width:10.443%;"/> <td style="width:1.0%;"/> <td style="width:1.034%;"/> <td style="width:1.0%;"/> <td style="width:13.084%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="14" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Fair Value Measured as of December 31, 2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 1</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 2</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 3</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Total</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Assets included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Cash and cash equivalents</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Money market securities</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Liabilities included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Warrant liability</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table></div>There were no transfers of financial instruments between Level 1, Level 2 and Level 3 during the year ended December 31, 2022 or during the eleven months ended December 31, 2021.Level 3 assetOn July 1, 2022, the Company recorded a derivative asset, divided between current and noncurrent assets, on its consolidated balance sheet related to the Luminant Power Agreement as this is when both the quantities of electricity demand were known and penalties for nonperformance under the Luminant Power Agreement became enforceable, with an offsetting amount recorded to change in the fair value of derivative asset in operating loss on the consolidated statements of operations. Subsequent changes in fair value are also recorded to change in fair value of derivative asset in operating loss. The Luminant Power Agreement was not designated as a hedging instrument. The estimated fair value of the Company’s derivative asset was derived from Level 2 and Level 3 inputs (i.e., unobservable inputs) due to a lack of quoted prices for similar type assets and as such, is classified in Level 3 of the fair value hierarchy. Specifically, the discounted cash flow estimation models contain quoted spot and forward prices for electricity, as well as estimated usage rates consistent with the terms of the Luminant Power Agreement, the initial term of which is five years. The valuations performed by the third-party valuation firm engaged by the Company utilized pre-tax discount rates of <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">6.83% and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7.19% as of December 31, 2022 and the derivative effective date of July 1, 2022, respectively, and include observable market inputs, but also include unobservable inputs based on qualitative judgment related to company-specific risk factors. Unrealized gains associated with the derivative asset within the Level 3 category include changes in fair value that were attributable to amendments to the Luminant Power Agreement, changes to the quoted forward electricity rates, as well as unobservable inputs (e.g., changes in estimated usage rates and discount rate assumptions). <div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The following table presents the changes in the estimated fair value of the derivative asset measured using significant unobservable inputs (Level 3) for the year ended December 31, 2022 (amounts in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:72.553%;"/> <td style="width:1.592%;"/> <td style="width:1.0%;"/> <td style="width:23.855%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of January 1, 2022</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Fair value on derivative asset effective date</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">83,610</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Proceeds from reduction of scheduled power</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">5,056</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Change in fair value</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11,852</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of December 31, 2022</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table></div>Pursuant to the August 26, 2022 amendment to the Luminant Power Agreement, the Company and Luminant agreed to reduce Luminant’s obligation to provide specific amounts of scheduled power over upcoming months and, in exchange for the reduction in scheduled power supply by Luminant and as consideration for the modification to the ramp up schedule under the Luminant Power Agreement, Luminant paid the Company $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">5.1 million. The Company’s management determined that this did not represent a freestanding instrument to be assessed separately from the Luminant Power Agreement and, as such, the Company reduced the derivative asset by the amount received from Luminant as shown in the table above. For the year ended December 31, 2022, there was a change of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.9 million in Level 3 assets measured at fair value. Additionally, as discussed above in Note 5, Derivative, the Company, through Luminant, sold electricity in the ERCOT market prior to bitcoin mining operations beginning at the Odessa Facility, resulting in $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.7 million recorded to change in fair value of derivative asset in the consolidated statements of operations during the year ended December 31, 2022. Level 3 liabilityThe Company’s Private Placement Warrants are its only liability classified within Level 3 of the fair value hierarchy because the fair value is based on significant inputs that are unobservable in the market. The valuation of the Private Placement Warrants uses assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Company assesses these assumptions and estimates on an on-going basis as additional data impacting the assumptions and estimates are obtained.The Company engaged a valuation firm to determine the fair value of the Private Placement Warrants using a Black-Scholes option-pricing model and the quoted price of Common Stock. The following table presents significant assumptions utilized in the valuations of the Private Placement Warrants as of the dates indicated: <div style="font-size:10.0pt;font-family:"Times New Roman", serif;"> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:55.966%;"/> <td style="width:1.225%;"/> <td style="width:1.0%;"/> <td style="width:18.802000000000003%;"/> <td style="width:1.0%;"/> <td style="width:1.225%;"/> <td style="width:1.0%;"/> <td style="width:18.781000000000002%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31,</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Risk-free rate</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4.06</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.20</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Dividend yield rate</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.00</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.00</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Volatility</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">90.0</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">58.8</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Contractual term (in years)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">3.7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">4.7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Exercise price</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.50</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.50</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table></div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The following table presents changes in the estimated fair value of the Private Placement Warrants (amounts in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:72.553%;"/> <td style="width:1.592%;"/> <td style="width:1.0%;"/> <td style="width:23.855%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of February 1, 2021</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Assumed in Business Combination</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">261</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Change in fair value</td> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">124</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of December 31, 2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Change in fair value</td> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">130</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Balance as of December 31, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table></div>

The Company’s financial assets and liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows as of the dates indicated (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:39.459%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:11.998%;"/> <td style="width:1.0%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:11.998%;"/> <td style="width:1.0%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:12.104%;"/> <td style="width:1.0%;"/> <td style="width:1.001%;"/> <td style="width:1.0%;"/> <td style="width:12.434999999999999%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="14" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Fair Value Measured as of December 31, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 1</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 2</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 3</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Total</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Assets included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Cash and cash equivalents</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Money market securities</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10,943</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10,943</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Accounts receivable</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">98</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">98</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Derivative asset</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11,041</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">66,702</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">77,743</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Liabilities included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Warrant liability</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">7</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:41.314%;"/> <td style="width:1.584%;"/> <td style="width:1.0%;"/> <td style="width:11.95%;"/> <td style="width:1.0%;"/> <td style="width:1.111%;"/> <td style="width:1.0%;"/> <td style="width:10.443%;"/> <td style="width:1.0%;"/> <td style="width:1.034%;"/> <td style="width:1.0%;"/> <td style="width:10.443%;"/> <td style="width:1.0%;"/> <td style="width:1.034%;"/> <td style="width:1.0%;"/> <td style="width:13.084%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="14" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Fair Value Measured as of December 31, 2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 1</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 2</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Level 3</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">Total</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Assets included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Cash and cash equivalents</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Money market securities</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">101,004</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Liabilities included in:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Warrant liability</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">137</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table>

10943000

98000

66702000

11041000

66702000

77743000

7000

101004000

137000

P5Y 0.0683 0.0719

83610000 -5056000

-11852000

66702000

5100000

11900000

1700000

The following table presents significant assumptions utilized in the valuations of the Private Placement Warrants as of the dates indicated: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:55.966%;"/> <td style="width:1.225%;"/> <td style="width:1.0%;"/> <td style="width:18.802000000000003%;"/> <td style="width:1.0%;"/> <td style="width:1.225%;"/> <td style="width:1.0%;"/> <td style="width:18.781000000000002%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31,</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Risk-free rate</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4.06</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.20</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Dividend yield rate</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.00</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.00</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Volatility</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">90.0</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">58.8</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Contractual term (in years)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">3.7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">4.7</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Exercise price</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.50</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">11.50</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table>

4.06

1.20

0.00

90.0

58.8

P3Y8M12D

P4Y8M12D

11.50

261000

-124000

137000

-130000

7000

NOTE 19. INCOME TAXESFor the year ended December 31, 2022, the Company recorded a deferred tax expense related to an increase in deferred tax liabilities associated with derivatives. <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">No provision for income taxes was recorded for the eleven months ended December 31, 2021. Current income taxes are based upon the current period’s income taxable for federal and state tax reporting purposes. Deferred income taxes (benefits) are provided for certain income and expenses, which are recognized in different periods for tax and financial reporting purposes. Deferred tax assets and liabilities are computed for differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the period in which the differences are expected to affect taxable income, and net operating loss (“NOL”) carryforwards.<div style="font-size:10.0pt;font-family:"Times New Roman", serif;">The components of the Company’s income tax provision are listed below (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.252%;"/> <td style="width:1.215%;"/> <td style="width:1.0%;"/> <td style="width:18.653%;"/> <td style="width:1.0%;"/> <td style="width:1.228%;"/> <td style="width:1.0%;"/> <td style="width:18.653%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;">Year Ended</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;">Eleven Months Ended</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31, 2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Deferred:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td colspan="2" style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Federal</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,840</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Total deferred</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,840</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Income tax provision</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,840</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table> </div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">A reconciliation of the expected tax computed at the U.S. statutory federal income tax rate to the total expense for income taxes is shown below: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:55.908%;"/> <td style="width:0.993%;"/> <td style="width:1.0%;"/> <td style="width:19.052%;"/> <td style="width:1.0%;"/> <td style="width:0.993%;"/> <td style="width:1.0%;"/> <td style="width:19.052%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;">Year Ended</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;">Eleven Months Ended</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31, 2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Income tax benefit at federal statutory rate</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">21.0</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">21.0</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">State taxes, net of federal benefit</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.0</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">%</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.0</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">162m limitations</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.9</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)%</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">13.4</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Stock compensation</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">14.1</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">)%</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">3.3</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">)%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Permanent differences</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.1</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.0</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Difference and changes in tax rates</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.8</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)%</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.0</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">RTP and other</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1.4</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.0</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Change in valuation allowance</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10.6</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)%</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">5.3</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Income tax provision</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4.9</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);">)%</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">0.0</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);">%</td> </tr> </table></div><div style="font-size:10.0pt;font-family:"Times New Roman", serif;">Significant components of the Company’s deferred tax assets and liabilities were as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.252%;"/> <td style="width:1.215%;"/> <td style="width:1.0%;"/> <td style="width:18.653%;"/> <td style="width:1.0%;"/> <td style="width:1.228%;"/> <td style="width:1.0%;"/> <td style="width:18.653%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:9.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31, 2022</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;">December 31, 2021</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Deferred tax assets:</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td colspan="2" style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> Net operating loss carryforwards</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10,253</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">$</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">6,712</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> Share-based compensation</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">3,097</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,457</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> Accruals and other temporary differences</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">115</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">68</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Intangible assets</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4,002</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Lease liability</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4,267</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Joint venture investments</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">6,612</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Bitcoin holdings</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">308</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Gross deferred tax assets</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">28,654</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">8,237</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Valuation allowance</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">12,173</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">8,236</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Net deferred tax assets</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">16,481</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Deferred tax liabilities:</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Right-of-use asset</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4,107</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Derivatives</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">14,007</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;">)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:middle;text-align:center;">-</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:middle;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Property and equipment, net</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">207</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Gross deferred tax liabilities</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">18,321</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1</td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;">Net deferred tax liabilities</td> <td style="background-color:rgba(204,236,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,840</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);">)</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;">-</td> <td style="background-color:rgba(204,238,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"> </td> </tr> </table></div>As required by ASC 740, management of the Company has evaluated the evidence bearing upon the realizability of its deferred tax assets. Based on the weight of available evidence, both positive and negative, management has determined that it is more likely than not that the Company will not realize the benefits of these assets. Accordingly, the Company recorded a valuation allowance of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">12.2 million as of December 31, 2022. The valuation allowance increased by $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">3.9 million during the year ended December 31, 2022, primarily as a result of the increase in NOL carryforwards generated in the current period.As of December 31, 2022, the Company had federal and state NOL carryforwards of approximately $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">44.1 million and $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">19.2 million, respectively. The federal NOL carryforwards do not expire, but the state NOL carryforwards expire if not utilized prior to 2042.Utilization of the U.S. federal and state NOL carryforwards may be subject to a substantial annual limitation under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, and corresponding provisions of state law, due to ownership changes that have occurred previously or that could occur in the future. These ownership changes may limit the amount of NOL carryforwards that can be utilized annually to offset future taxable income and tax liabilities, respectively. The Company has not completed a study to assess whether a change of ownership has occurred, or whether there have been multiple ownership changes since its formation, due to the significant cost and complexity associated with such a study. Any limitation may result in expiration of a portion of the NOL carryforwards before utilization. Further, until a study is completed by the Company and any limitation is known, no amounts are being presented as an uncertain tax position.

1840000

0.210

0.000

0.010

-0.019 -0.134

-0.141

-0.033

0.001

0.000

-0.008

0.000

0.014

0.000

-0.106

-0.053

-0.049

0.000

10253000

6712000

3097000

1457000

115000

68000

4002000

4267000 6612000 308000

28654000

8237000

12173000

8236000

16481000

1000

4107000

14007000

207000

1000

18321000

1000

1840000

12200000

3900000

44100000

19200000

2042

NOTE 20. SUBSEQUENT EVENTSIn addition to the subsequent events noted above in Note 1, Organization and Business, Note 14, Commitments and Contingencies and Note 17, Share-Based Compensation, the following items also occurred subsequent to December 31, 2022.RSU activityOn January 1, 2023, <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,554,064 of the Company's outstanding Service-Based RSUs awarded to employees and consultants vested and <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">524,567 of those shares were repurchased by the Company for tax withholdings owed by the employees. The repurchased shares were recognized in treasury stock on the consolidated balance sheet following the repurchase.Additionally, subsequent to December 31, 2022, the Company awarded <span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1,641,803 Service-Based RSUs to new employees and a consultant to the Company with vesting periods ranging from two to four years. Payments on behalf of Bitfury USAAfter December 31, 2022, but before the issuance of these consolidated financial statements, the Company made payments totaling approximately $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">4.0 million directly to Paradigm in place of Bitfury USA, in respect of manufacturing services for BBACs, the Company’s obligations to Bitfury USA under the Master Services and Supply Agreement were reduced by the same amount.Bitmain couponsDuring the year ended December 31, 2022, the Company was issued coupons by Bitmain that provided the Company with discounts that the Company could redeem through the purchase of additional miners from Bitmain prior to the April 2023 expiration date of the coupons. If the Company had been able to fully utilize the coupons through future purchases of miners, the coupons could have amounted to discounts of approximately $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">10.9 million. In January 2023, the Company received an offer to purchase the coupons from the Company and, since the Company did not have plans to purchase additional Bitmain miners prior to the expiration date of the coupons, the Company sold the coupons to the interested third party in January 2023 for proceeds of $<span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">2.3 million.

1554064

524567

1641803

P4Y

4000000.0 2023-04 10900000 2300000