Received p ovisio al Batch Ze o Baseload Pathway (b) classificatio f om ERCOT i Septembe 2026 fo 466 g oss MW la ge-load equest
Ma ageme t team with exte sive data ce te expe ie ce, focused o mo etizi g emai i g ~5001 g oss MW ea -te m powe pipeli e
Backed by a flexible, debt-f ee bala ce sheet, ~$630M of liquidity, a d cash-flowi g Wa d Cou ty site
WASHINGTON, Nov. 04, 2026 (GLOBE NEWSWIRE) — Io ic Digital I c. (Nasdaq: IOND) (“Io ic Digital” o the “Compa y”) today a ou ced fi a cial esults fo the thi d qua te e ded Septembe 30, 2026.
“I the thi d qua te , we made steady p og ess towa d ou p io ity of leasi g the emai i g capacity ac oss ou Wa d Cou ty a d Midla d sites,” said A dy Stewa t, Chief Executive Office . “Custome i te est built ac oss ou po tfolio du i g the qua te , eflecti g the value the ma ket places o ea -te m powe at a time whe ma y p ojects face u ce tai ty. Ou 466 MW la ge-load equest at Wa d Cou ty eceived p ovisio al Batch Ze o Baseload Pathway (b) classificatio , which ERCOT ese ves fo p ojects that a e ot co side ed ew because they have al eady achieved i itial e e gizatio . We co ti ue to expect e e gizatio i late 2027 as ERCOT completes its fi al classificatio p ocess i Decembe . We look fo wa d to wo ki g with the ew admi ist atio i Texas a d co ti ue to suppo t espo sible data ce te developme t that p otects atepaye s a d be efits ou local commu ities.
“We believe ou ability to offe sig ifica t g id powe , togethe with ou team’s expe ie ce developi g, co st ucti g, a d co t acti g data ce te s, p ovides us a compelli g oppo tu ity to ge e ate att active isk-adjusted etu s. As we evaluate pote tial leases, whethe tu key o powe ed shell, we a e p io itizi g high-quality cou te pa ties a d te ms that suppo t a p ude t capital st uctu e. Looki g ahead, I am excited about the oppo tu ity fo Io ic Digital to delive lo g-te m value as data ce te custome s place a g eate p emium o powe ce tai ty, executio capability, a d fi a cial st e gth.”
- Total eve ue was $49 millio , a i c ease of 32% yea -ove -yea , with digital i f ast uctu e leasi g eve ue ep ese ti g app oximately 90% of total eve ue.
- G oss p ofit (loss) was $39 millio , compa ed to $(7) millio i the p io yea pe iod. Adjusted g oss p ofit was $44 millio , compa ed to $11 millio i the p io yea pe iod, d ive by eve ue mix shift f om c yptocu e cy mi i g to digital i f ast uctu e leasi g.
- Net i come was $17 millio , which i cludes a $73 millio o -cash gai o fai value of c yptocu e cy, offset by a $66 millio o -cash cha ge elated to a i c ease i the fai value of wa a ts issued i Ju e 2026.
- Adjusted EBITDA was $35 millio , compa ed to less tha $1 millio i the p io yea pe iod, due to the shift of the Compa y’s ope atio s to highe -ma gi digital i f ast uctu e leasi g.
- Capital Expe ditu es we e $7 millio , p ima ily elated to equipme t fo the o goi g expa sio of the Compa y’s substatio at the Wa d Cou ty campus.
1Co sists of 499 g oss MW: (i) 377 g oss MW of the 466 g oss MW of p ovisio al Baseload capacity at ou Wa d Cou ty site, expected to e e gize i late 2027, subject to emai i g egulato y app ovals a d completio of utility i f ast uctu e p ojects; (ii) 112 g oss MW ac oss ou Midla d sites, which a e e e gized; a d (iii) additio al 10 g oss MW at o e of ou Midla d sites, expected to e e gize i 2027. Excludes the emai i g 89 g oss MW at ou Wa d Cou ty site, which is al eady u de co t act a d the efo e ot available fo ew custome s.
As of Septembe 30, 2026, Io ic Digital had o ha d $381 millio i cash a d cash equivale ts a d 2,954 bitcoi valued at $247 millio at that date. The Compa y had o outsta di g bo owi gs as of Septembe 30, 2026.
“Ou thi d qua te esults we e i li e with ou expectatio s, i cludi g $44 millio of digital i f ast uctu e leasi g eve ue, o $7 millio o a cash basis, with cash e t co ti ui g to amp th ough Feb ua y 2028,” said Ch is Hickma , Chief Fi a cial Office . “We e ded the qua te with app oximately $630 millio of liquidity a d o debt. Si ce the e d of the qua te , we have sold app oximately 25% of ou bitcoi fo app oximately $62 millio i cash, ahead of ou expected developme t amp ext yea . Give the capital eeds to develop AI i f ast uctu e a d data ce te s, we believe we a e well positio ed with ou Nscale lease suppo ted by Mic osoft dema d a d a gua a tee f om Nvidia, a d a st o g bala ce sheet that gives us clea visibility to fu di g the developme t of ou existi g sites.”
Io ic Digital is eaffi mi g its full-yea 2026 outlook. Give yea -to-date esults, the Compa y expects c yptocu e cy mi i g eve ue to meet o exceed the mid-poi t of its a ge below.
| Digital i f ast uctu e leasi g eve ue | $175 | C yptocu e cy mi i g eve ue | $15 | to | $20 | $190 | to | $195 | $137.5 | to | $142.5 | $45 | to | $60 | (1) see “No -GAAP Fi a cial Measu es” below | (2) excludes pote tial capital expe ditu es fo ew site acquisitio s |
The Compa y has ot eco ciled its Adjusted EBITDA outlook to et i come (loss), the most di ectly compa able GAAP fi a cial measu e, because the i fo matio ecessa y fo such a eco ciliatio is ot available without u easo able effo t. I pa ticula , the Compa y’s p ovisio fo i come taxes fo 2026 ca ot be easo ably p edicted, as it depe ds o facto s that emai u ce tai , i cludi g cha ges i the fai values of c yptocu e cy a d wa a t liabilities a d thei elated tax effects, a d could have a mate ial effect o p ojected et i come (loss).
Io ic Digital will hold a co fe e ce call o Wed esday, Novembe 4, 2026, at 5:00 p.m. ET. A webcast li k to the co fe e ce call is available o the Eve ts & P ese tatio s page u de the I vesto Relatio s sectio of the Compa y’s website. A eplay will be available o the same page followi g the call.
The elated p ese tatio mate ials a e ow available o the Eve ts & P ese tatio s page u de the I vesto Relatio s sectio of the Compa y’s website.
Io ic Digital is a fast-t ack p ovide of High-Pe fo ma ce Computi g (HPC) a d data ce te i f ast uctu e, desig ed to d ive stability i the apidly evolvi g AI la dscape. I a i dust y whe e co st ai ed powe a d exte ded developme t timeli es cause bottle ecks, Io ic Digital focuses o pe fo ma ce, scalability a d speed to ma ket th ough i f ast uctu e developme t a d p oject due dilige ce. Led by a seaso ed team with deep expe ie ce developi g hu d eds of megawatts a d aisi g billio s i capital, Io ic Digital aims to be a t usted fou datio fo the futu e of AI.
To lea mo e, visit io icdigital.com a d follow us o X a d Li kedI .
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of Sectio 27A of the Secu ities Act of 1933, as ame ded, a d Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded, which a e i te ded to be cove ed by the safe ha bo p ovisio s of the P ivate Secu ities Litigatio Refo m Act of 1995. Fo wa d-looki g stateme ts i clude stateme ts co ce i g pla s, objectives, goals, st ategies, futu e eve ts o pe fo ma ce, a d u de lyi g assumptio s, i cludi g stateme ts ega di g powe availability a d the expected timi g of e e gizatio at Wa d Cou ty; ERCOT’s audit a d fi al classificatio of the Compa y’s la ge-load equest; the completio of equi ed utility i f ast uctu e; the Compa y’s ability to comme cialize its powe capacity a d e te i to custome a a geme ts a d developme t st uctu es; the Compa y’s liquidity, fu di g equi eme ts, capital allocatio a d capital expe ditu es; the Compa y’s outlook fo the yea e di g Decembe 31, 2026; a d othe stateme ts that a e ot histo ical facts.
Whe the Compa y a d its ma ageme t use wo ds such as “may,” “will,” “i te d,” “should,” “believe,” “expect,” “a ticipate,” “p oject,” “estimate,” “pla ,” “ta get,” “pote tial,” “could,” “would,” “co ti ue” o simila exp essio s that do ot elate solely to histo ical matte s, it is maki g fo wa d-looki g stateme ts.
Fo wa d-looki g stateme ts a e ot gua a tees of futu e pe fo ma ce a d i volve isks a d u ce tai ties that may cause actual esults to diffe mate ially f om the Compa y’s expectatio s discussed i the fo wa d-looki g stateme ts. These stateme ts a e subject to u ce tai ties a d isks i cludi g, but ot limited to, the timi g a d outcome of ERCOT’s audit a d fi al classificatio p ocess a d othe egulato y p ocesses; cha ges i law o egulatio , i cludi g as a esult of upcomi g cha ges i admi ist atio i Texas; the availability of powe a d completio of equi ed utility i f ast uctu e; developme t a d co st uctio delays, cost i c eases a d equipme t availability; the Compa y’s ability to e te i to custome a a geme ts a d comme cialize developme t oppo tu ities o acceptable te ms; cou te pa ty pe fo ma ce a d custome co ce t atio ; the availability a d cost of capital; volatility i the p ice of bitcoi a d i the fai value of the Compa y’s wa a t liabilities; ma ket co ditio s, competitive dy amics, egulato y cha ges, a d othe facto s discussed i the “Risk Facto s” sectio of the Compa y’s p ospectus dated July 20, 2026, its Qua te ly Repo t o Fo m 10-Q fo the qua te e ded Ju e 30, 2026 a d the Compa y’s othe fili gs with the SEC. Fo wa d-looki g stateme ts speak o ly as of the date of this p ess elease a d the Compa y u de takes o obligatio to update them except as equi ed by law.
Fo these easo s, amo g othe s, i vesto s a e cautio ed ot to place u due elia ce upo a y fo wa d-looki g stateme ts i this p ess elease. Additio al facto s a e discussed i the Compa y’s fili gs with the SEC, available at www.sec.gov.
We use ce tai fi a cial measu es that a e ot calculated i acco da ce with ge e ally accepted accou ti g p i ciples i the U.S. (“GAAP”) to suppleme t ou co de sed co solidated fi a cial stateme ts. These o -GAAP fi a cial measu es p ovide additio al i fo matio to i vesto s to facilitate compa iso s of past a d p ese t ope ati g esults, ide tify t e ds i ou u de lyi g ope ati g pe fo ma ce, a d offe g eate t a spa e cy o how we evaluate ou busi ess activities. These measu es a e i teg al to ou p ocesses fo budgeti g, ma agi g ope atio s, maki g st ategic decisio s, a d evaluati g ou pe fo ma ce. Ou p ima y o -GAAP fi a cial measu es a e Adjusted g oss p ofit a d Adjusted EBITDA.
We defi e Adjusted g oss p ofit as g oss p ofit exclusive of dep eciatio . We ely o Adjusted g oss p ofit to evaluate ou busi ess, measu e ou pe fo ma ce, a d make st ategic decisio s. It is used by ou Chief Ope ati g Decisio Make (“CODM”) whe maki g decisio s ega di g the allocatio of esou ces to ope ati g segme ts.
We believe that the p ese tatio of this o -GAAP fi a cial measu e will p ovide useful i fo matio to i vesto s a d a alysts i assessi g the Compa y’s fi a cial pe fo ma ce by excludi g o -cash dep eciatio expe se which is ep ese tative of histo ical i vestme ts a d which we do ot believe is i dicative of ou cu e t ope ati g pe fo ma ce. G oss p ofit is the GAAP measu e most di ectly compa able to Adjusted g oss p ofit. Ou o -GAAP fi a cial measu es should ot be co side ed as a alte ative to the most di ectly compa able GAAP fi a cial measu es. You a e e cou aged to evaluate each of these adjustme ts a d the easo s ou ma ageme t co side s them app op iate fo suppleme tal a alysis.
The followi g table p ovides a eco ciliatio of g oss p ofit to Adjusted g oss p ofit:
| Reve ue | $ | 48,989 | $ | 37,096 | $ | 149,076 | $ | 115,369 | Cost of eve ue, excludi g dep eciatio | (5,249 | ) | (26,579 | ) | (14,586 | ) | (74,048 | ) | Dep eciatio | (4,477 | ) | (17,217 | ) | (14,966 | ) | (50,601 | ) | Dep eciatio | 4,477 | 17,217 | 14,966 | 50,601 |
We defi e Adjusted EBITDA as et i come (loss) befo e i te est, taxes, dep eciatio , a d amo tizatio , fu the adjusted fo ce tai items that ma ageme t believes a e ot i dicative of co e ope ati g pe fo ma ce, i cludi g gai s o losses o litigatio settleme ts, stock-based compe satio expe se, cha ges i the fai value of wa a t liabilities, di ect listi g fees a d expe ses, p ivate placeme t issua ce costs, gai s o losses o the sale of p ope ty a d equipme t, a d othe such costs, as detailed i the table below. I additio , as explai ed below, begi i g with the seco d qua te of 2026, we also adjust Adjusted EBITDA to exclude ealized a d u ealized gai s a d losses o c yptocu e cy a d have ecast histo ical pe iods to co fo m to this p ese tatio .
We use Adjusted EBITDA to evaluate ope ati g pe fo ma ce, allocate esou ces, a d make st ategic decisio s, i cludi g assessi g p og ess o ou t a sitio f om bitcoi mi i g to digital i f ast uctu e leasi g. Adjusted EBITDA is used i i te al fo ecasti g a d budgeti g, i evaluati g t easu y ma ageme t decisio s, a d i boa d-level discussio s ega di g capital st uctu e, liquidity, a d ou ability to fu d g owth i itiatives.
Ou exclusio of ealized a d u ealized gai s a d losses o c yptocu e cy f om Adjusted EBITDA does ot eve se o modify GAAP ecog itio a d measu eme t p i ciples. We exclude these amou ts because they p ima ily eflect bitcoi ma ket p ice fluctuatio s a d t easu y ma ageme t decisio s. We view ou bitcoi holdi gs p ima ily as i vestme ts used to suppo t liquidity a d g owth i itiatives, athe tha as compo e ts of ou ope atio s. Co e ope ati g pe fo ma ce is d ive by facto s such as hash ate pe fo ma ce, e e gy costs, mi e efficie cy, uptime, a d eve ues f om digital i f ast uctu e leasi g activities. We i clude c yptocu e cy eceived as eve ue at the ma ket p ice o the date of eceipt, as this eflects value ealized f om co e busi ess activities. Decisio s to hold o liquidate these assets a e i vestme t decisio s, disti ct f om ope ati g pe fo ma ce.
We p ese t Adjusted EBITDA because we believe it p ovides useful i fo matio to i vesto s a d a alysts i assessi g ou histo ical fi a cial pe fo ma ce. I pa ticula , the exclusio of ealized a d u ealized gai s a d losses o c yptocu e cy allows i vesto s to evaluate ope ati g pe fo ma ce o a basis mo e co siste t with ma ageme t’s view of ou co e busi ess as we execute ou st ategic t a sitio .
Net i come (loss) is the GAAP measu e most di ectly compa able to Adjusted EBITDA. This o -GAAP measu e should ot be co side ed as a alte ative to GAAP measu es. We e cou age you to evaluate each adjustme t a d the easo s ma ageme t co side s them app op iate. We may i cu simila o u usual items i the futu e that could affect Adjusted EBITDA, a d ou p ese tatio should ot be co st ued as a i fe e ce that futu e esults will be u affected by such items. The e ca be o assu a ce that we will ot modify the p ese tatio of Adjusted EBITDA i the futu e, a d a y modificatio may be mate ial. Adjusted EBITDA has impo ta t limitatio s as a a alytical tool a d should ot be co side ed i isolatio o as a substitute fo GAAP esults. It may be defi ed diffe e tly by othe compa ies, limiti g compa ability. I additio , Adjusted EBITDA does ot measu e cash available fo i vestme t a d does ot eflect capital expe ditu es, cha ges i wo ki g capital (i cludi g diffe e ces betwee the timi g of lease eve ue ecog itio a d cash eceipts), cash taxes o othe cash equi eme ts.
The followi g table p ovides a eco ciliatio of Net i come (loss) to Adjusted EBITDA:
| I te est i come | (3,303 | ) | (250 | ) | (3,809 | ) | (950 | ) | P ovisio fo (be efit f om) i come taxes | 6,671 | (1,047 | ) | 17,578 | 347 | Dep eciatio a d amo tizatio | 4,477 | 17,217 | 14,966 | 50,601 | Stock-based compe satio expe se(1) | 4,908 | — | 20,346 | — | Loss (gai ) o fai value of c yptocu e cy | (73,150 | ) | (6,379 | ) | 8,377 | (7,711 | ) | Realized gai o sale of c yptocu e cy assets | — | (11,215 | ) | — | (43,625 | ) | Realized loss (gai ) o the sale of p ope ty a dequipme t | (242 | ) | 6,259 | 302 | 6,238 | Di ect listi g fees a d expe ses | 12,288 | — | 13,737 | — | P ivate placeme t issua ce costs | — | — | 1,431 | — | Realized loss o c yptocu e cies de ivatives | — | 74 | — | 204 | Cha ge i fai value of wa a t liabilities | 65,901 | — | 65,901 | — | Loss o litigatio settleme t(2) | — | — | — | 8,079 | (1) Stock-based compe satio du i g the th ee a d i e mo ths e ded Septembe 30, 2026 elates to est icted stock u its a d pe fo ma ce est icted stock u its issued to employees a d boa d membe s. The e was o equivale t activity fo the th ee a d i e mo ths e ded Septembe 30, 2025. | (2) Loss o litigatio settleme t du i g the i e mo ths e ded Septembe 30, 2025 eflects a settleme t to esolve sha eholde actio s. The e was o equivale t activity fo the th ee a d i e mo ths e ded Septembe 30, 2026. |
| Cu e t assets: | Cash a d cash equivale ts | $ | 381,422 | $ | 43,510 | C yptocu e cy assets | 246,893 | 237,947 | Defe ed e t eceivable | 85,176 | — | Othe eceivables, cu e t ( et of $— a d $5.1 millio allowa ce fo c edit losses as ofSeptembe 30, 2026 a d Decembe 31, 2025, espectively) | 1,659 | 10,460 | P epaid expe ses a d othe cu e t assets | 8,489 | 11,427 | Assets held fo sale | 2,186 | — | Total cu e t assets | 725,825 | 303,344 | No -cu e t assets: | P ope ty a d equipme t, et | 68,670 | 76,156 | Defe ed i itial di ect leasi g costs | 6,297 | 6,803 | Othe eceivables, o -cu e t ( et of $3.3 millio allowa ce fo c edit losses as of Septembe 30, 2026 a d Decembe 31, 2025) | 370 | 370 | Deposits a d othe o -cu e t assets | 2,298 | 2,253 | Goodwill | 161,608 | 161,608 | Defe ed tax assets, et | 37,032 | 54,470 | Total o -cu e t assets | 276,275 | 301,660 | $ | 1,002,100 | $ | 605,004 | Cu e t liabilities: | Defe ed digital i f ast uctu e leasi g eve ue | — | 39,793 | Accou ts payable | 7,557 | 1,720 | Acc ued expe ses a d othe cu e t liabilities | 9,895 | 19,159 | Total cu e t liabilities | 17,452 | 60,672 | No -cu e t liabilities: | No -cu e t po tio of lease liability | 184 | 170 | Wa a t liability | 99,962 | — | Othe o -cu e t liabilities | 896 | 755 | Total o -cu e t liabilities | 101,042 | 925 | $ | 118,494 | $ | 61,597 | Stockholde s’ Equity: | P efe ed stock, $0.00001 pa value, 15,000,000 sha es autho ized, o e issued a d outsta di g as of Septembe 30, 2026 a d Decembe 31, 2025 | — | — | Class A commo stock, $0.00001 pa value, 1,000,000,000 sha es autho ized, 44,996,175 sha es a d 37,374,261 sha es issued a d outsta di g as of Septembe 30, 2026 a d Decembe 31, 2025, espectively | — | — | Additio al paid-i capital | 1,122,035 | 750,985 | Retai ed ea i gs (deficit) | (238,429 | ) | (207,578 | ) | $ | 883,606 | $ | 543,407 | $ | 1,002,100 | $ | 605,004 |
| C yptocu e cy mi i g | $ | 5,082 | $ | 37,096 | $ | 17,281 | $ | 115,369 | Digital i f ast uctu e leasi g | 43,884 | — | 131,728 | — | Othe | 23 | — | 67 | — | 48,989 | 37,096 | 149,076 | 115,369 | Cost of mi i g eve ues (exclusive of dep eciatio ) | 5,046 | 26,579 | 13,709 | 74,048 | Cost of digital i f ast uctu e solutio s eve ues(exclusive of dep eciatio ) | 203 | — | 877 | — | Dep eciatio a d amo tizatio | 4,477 | 17,217 | 14,966 | 50,601 | Ge e al a d admi ist ative expe ses | 25,753 | 10,114 | 61,449 | 28,011 | (Gai ) loss o fai value of c yptocu e cy | (73,150 | ) | (6,379 | ) | 8,377 | (7,711 | ) | Realized gai o sale of c yptocu e cy assets | — | (11,215 | ) | — | (43,625 | ) | (Gai ) loss o sale of p ope ty a d equipme t | (242 | ) | 6,259 | 302 | 6,238 | Othe ope ati g expe ses, et | 195 | 249 | 577 | 749 | (37,718 | ) | 42,824 | 100,257 | 108,311 | 86,707 | (5,728 | ) | 48,819 | 7,058 | Othe i come (expe se) | I te est i come | 3,303 | 250 | 3,809 | 950 | Realized loss o c yptocu e cies de ivatives | — | (74 | ) | — | (204 | ) | Cha ge i fai value of wa a t liabilities | (65,901 | ) | — | (65,901 | ) | — | Loss o litigatio settleme t | — | — | — | (8,079 | ) | Total othe i come (expe se), et | (62,598 | ) | 176 | (62,092 | ) | (7,333 | ) | I come (loss) befo e p ovisio fo i come taxes | 24,109 | (5,552 | ) | (13,273 | ) | (275 | ) | P ovisio fo (be efit f om) i come taxes | 6,671 | (1,047 | ) | 17,578 | 347 | $ | 17,438 | $ | (4,505 | ) | $ | (30,851 | ) | $ | (622 | ) | Less: I come allocated to Se ies A P efe ed Stock | (890 | ) | — | — | — | Basic | $ | 0.39 | $ | (0.12 | ) | $ | (0.79 | ) | $ | (0.02 | ) | Diluted | $ | 0.38 | $ | (0.12 | ) | $ | (0.79 | ) | $ | (0.02 | ) | Basic | 42,688,649 | 37,374,261 | 39,165,190 | 37,374,261 | Diluted | 45,611,060 | 37,374,261 | 39,165,190 | 37,374,261 |
| Net i come (loss) | $ | (30,851 | ) | $ | (622 | ) | Adjustme ts to eco cile et loss to et cash used i ope ati g activities: | Mi i g eve ue eceived i bitcoi | (17,281 | ) | (115,369 | ) | Hosti g costs paid i bitcoi | — | 592 | Dep eciatio a d amo tizatio | 14,966 | 50,601 | Loss (gai ) o the fai value of c yptocu e cy assets | 8,377 | (7,711 | ) | Realized gai o sale of c yptocu e cy assets | — | (43,625 | ) | Loss (gai ) o sale of p ope ty a d equipme t | 302 | 6,238 | Defe ed i itial di ect leasi g costs | 506 | — | Cha ge i fai value of wa a t liabilities | 65,901 | — | No -cash lease expe se | 73 | 19 | Stock compe satio expe se | 20,346 | — | P ovisio fo c edit losses | — | 1,940 | Defe ed i come taxes, et | 17,433 | (58 | ) | Cha ges i assets a d liabilities | P epaid expe ses a d othe cu e t assets | 2,938 | (10,962 | ) | Othe eceivables | 8,759 | (634 | ) | Defe ed e t eceivable | (85,176 | ) | — | Accou ts payable a d othe acc ued liabilities | (3,448 | ) | 3,795 | Defe ed digital i f ast uctu e leasi g eve ue | (39,793 | ) | — | Deposits a d othe o -cu e t assets | (11 | ) | 3,300 | No -cu e t liabilities | 115 | 404 | Pu chases of p ope ty a d equipme t | (12,687 | ) | (4,838 | ) | P oceeds f om the sale of mi i g equipme t | 659 | 21 | P oceeds f om assets held fo sale | 3,471 | — | P oceeds f om sale of c yptocu e cy assets | — | 91,606 | Payme t of p efe ed stock a d wa a t issua ce costs | (16,687 | ) | — | P oceeds f om issua ce of wa a ts | 34,061 | — | P oceeds f om issua ce of Se ies A p efe ed stock | 365,939 | — | Net i c ease (dec ease) i cash a d cash equivale ts | 337,912 | (25,303 | ) | Cash a d cash equivale ts at the begi i g of the pe iod | 43,510 | 48,393 | $ | 381,422 | $ | 23,090 | Assumptio of liability fo the acquisitio of PPE | 1,394 | 1,824 | Co ve sio of Se ies A p efe ed stock to Class A commo stock | 350,547 | — | ROU assets obtai ed f om ew lease liabilities | 123 | — |
