Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.20.2
Subsequent Events
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 11. Subsequent Events:

Financing

Subsequent to June 30, 2020, in connection with the Company’s Sales Agreement with H.C. Wainwright, the Company received gross proceeds of approximately $29.7 million from the sale of approximately 10.8  million shares of common stock via the ATM Offering.

Common Stock

On July 16, 2020, the Company issued 10,378 shares of its common stock to an advisor in settlement of fully vested restricted stock units granted to the advisor under its Equity Plan.

Miners

As previously reported, on July 16, 2020, the Company received 1,000 of the new S19 Pro Miners it purchased from Bitmain at the Coinmint Facility and, on July 21, 2020, the Company received an additional 432 next generation Bitmain Antminer S19 Miners at the Coinmint Facility. As previously disclosed, the Company expects the balance of the 1,000 Bitmain Antminer S19 Pro Miners to be delivered to the Coinmint Facility in the early fourth quarter of 2020.

Sale of Cryptocurrencies

Subsequent to June 30, 2020, the Company sold 100 bitcoins generating total cash proceeds of approximately $1 million.