Management attributed the $91 million net loss primarily to non-cash charges, including $57 million in depreciation from new hardware in Paraguay and a $31 million fair value adjustment on derivatives. The company achieved a record $93 million in quarterly revenue, driven by scaling Bitcoin mining capacity to 25 exahash and maintaining 2% of the global network. Strategic geographic diversification between the Northern and Southern Hemispheres mitigated seasonal curtailments, with Paraguay operations m ...