Financial Performance - Net loss for the fiscal third quarter of 2024 was 455.3million,comparedtoanetlossof41.1 million for the same period in 2023, representing an increase of 414.1million[11].−Totalrevenueforthefiscalthirdquarterof2024was95.4 million, a decrease of 17.6millioncomparedto112.9 million in the third quarter of 2023[5]. - Adjusted EBITDA for the fiscal third quarter of 2024 was 10.1million,downfrom27.8 million in the same period last year, a decrease of 17.6million[13].−Operatinglossforthefiscalthirdquarterof2024was41.2 million, an increase of 29.2millionoverthesameperiodin2023[5].−Basicnetlosspersharewas1.17, compared to a loss of 0.11pershareinQ32023[33].−Thecompanyreportedagrosslossof156 thousand for the quarter, compared to a gross profit of 15.419millioninQ32023[33].−Consolidatedgrosslosswas156, compared to a gross profit of 15,419inQ32023,indicatingasignificantdeclineinprofitability[35].−AdjustedEBITDAforQ32024was10,132, down from 27,758inQ32023[38].−ThenetlossforQ32024was455,259, compared to a net loss of 41,146inthesamequarterlastyear[38].RevenueBreakdown−Digitalassetself−miningrevenueforthefiscalthirdquarterof2024was68.1 million, while hosted mining revenue was 16.9million,andHPChostingrevenuewas10.3 million[6]. - Digital asset self-mining revenue was 68.138million,downfrom83.056 million year-over-year[33]. - Digital asset hosted mining revenue from customers was 16.878million,adeclinefrom27.020 million in the same quarter last year[33]. - Digital asset self-mining gross loss was 6,417,comparedtoagrossprofitof10,453 in the same quarter last year[35]. - Digital asset hosted mining revenue decreased by 43% to 16,878from29,848 year-over-year[35]. - HPC hosting revenue was 10,338,withagrossmarginof138.7 billion over 12-year contracts[3]. - The company operated a total hash rate of 23.4 EH/s, consisting of 20.4 EH/s from self-mining and 3.0 EH/s from hosting[5]. - The company improved its average actual self-mining fleet energy efficiency to 24.5 joules per terahash[5]. - Digital asset hosted mining gross margin improved to 29% from 17% year-over-year[35]. Assets and Liabilities - Total current assets increased to 277.856millionfrom97.016 million at the end of Q4 2023[32]. - Total liabilities rose to 1.651billion,comparedto1.309 billion at the end of Q4 2023[32]. - Cash and cash equivalents increased significantly to 253.019millionfrom50.409 million at the end of Q4 2023[32]. - The company ended the quarter with cash and cash equivalents of 253.0millionasofSeptember30,2024[5].AdjustmentsandOtherNotes−Thecompanyreportedasignificantadjustmentof408,520 in the fair value of warrants and contingent value rights for Q3 2024[38]. - Operating expenses for the fiscal third quarter of 2024 totaled 40.3million,comparedto26.8 million for the same period in the prior year, an increase of 13.5million[10].−Operatingexpensestotaled40.348 million, up from $26.805 million in the same quarter last year[33].
