0001213900-24-020602 | 40-F | XBRL Viewer

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Long-Term Deposits, Equipment Prepayments, Commitments and Other (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Feb. 08, 2023 Miners	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) Miners shares	Dec. 31, 2022 USD ($)	Jul. 05, 2023 USD ($)	Jul. 05, 2023 CAD ($)
Long-Term Deposits, Equipment Prepayments, Commitments and Other (Details) [Line Items]
Deposit			$ 17,561
Book value			11,330
Impairments of book value			$ 6,231
deposits construction amount				$ 7,171
Commitments, description				In December 2022, the Company renegotiated its previous purchase agreements for 48,000 Miners by extinguishing the outstanding commitments of $45,350 without penalty and establishing a $22,376 credit for deposits previously made.
Cash received				$ 3,279	$ 610	$ 814
Outstanding credit balance				$ 19,097
Number of miners (in Miners) \| Miners	6,100		35,888
Miners total cost			$ 95,462
Non refundable deposit			$ 9,464
Additional bitmain T21 miners (in Miners) \| Miners			28,000
Bitmain T21 miners totaling			$ 74,480
Non refundable deposit			$ 7,448
remaining payment obligations (in Shares) \| shares			35,888
Importation duty				25.00%
Custom duties		$ 9,424
BVVE and electrical components [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other (Details) [Line Items]
Deposit			$ 32,642

Share-Based Payments (Details) - Schedule of Share-Based Payment Expense Related to Stock Options and Restricted Stock Units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Share-Based Payment Expense Related to Stock Options and Restricted Stock Units [Abstract]
Equity-settled share-based payment plans	$ 10,915	$ 21,788

Basis of Presentation and Material Accounting Policy Information (Tables)

12 Months Ended

Dec. 31, 2023

Basis of Presentation and Material Accounting Policy Information [Abstract]

Schedule of Right-of-Use Assets

ROU assets are depreciated over the shorter of the lease term and the estimated useful lives of the assets, as follows:

Asset Class	Depreciation Method	Depreciation period
Leased premises	Straight-line	4-10 years
Vehicles and other	Straight-line	3-5 years
BVVE and Electrical components	Sum of years	5 years

Schedule of Property, Plant and Equipment

Property, plant and equipment are depreciated as follows:

Asset Class	Depreciation Method	Depreciation period
BVVE	Sum of years	5 years
Mineral assets *	N/A	N/A
Electrical equipment	Sum of years	5 years
Leasehold improvements	Straight-line	Shorter of the lease term and the expected life of the improvement
Buildings	Declining balance	4%
Vehicles	Declining balance	30%

* From the acquisition of mineral assets in 2018 until their disposal during the year ended December 31, 2023, there has been no production.

Schedule of Years Depreciation Method

The sum of years depreciation method is calculated as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Rate	5/15	4/15	3/15	2/15	1/15
Percentage	33.33%	26.67%	20.00%	13.33%	6.67%

The sum of years amortization method for systems software is calculated as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Rate	5/15	4/15	3/15	2/15	1/15
Percentage	33.33%	26.67%	20.00%	13.33%	6.67%

Schedule of Intangible Assets are Amortized

Intangible assets are amortized as follows:

Asset Class	Amortization Method	Amortization period
Systems software	Sum of years	5 years
Access rights to electricity	Straight-line	Lease term of the facility or the access rights period
Favorable lease	Straight-line	Lease term

Schedule of Assets and liabilities Measured at Fair Value

Assets and liabilities measured at fair value, or whose fair value is disclosed are classified into categories within the fair value hierarchy, based on the lowest level input that is significant to the overall fair value measurement:

Level		Definition
Level 1		Unadjusted quoted prices in an active market of identical assets and liabilities
Level 2		Non-quoted prices included in Level 1 that are either directly or indirectly observable
Level 3		Data that is not based on observable market information, such as valuation techniques without the use of observable market data

Schedule of Consolidated Statements of Financial Position

Consolidated statements of financial position extract as of January 1, 2022 - Restatement

	As of December 31,						As of January 1,
	2021 (as reported)			Adjustments			2022 (as restated)
Liabilities
Current
Warrant liabilities		—			63,575			63,575
Total current liabilities		101,178			63,575			164,753
Total liabilities		120,005			63,575			183,580
Shareholders’ equity
Share capital		378,893			(24,186	)		354,707
Contributed surplus		43,704			(17,859	)		25,845
Accumulated deficit		(15	)		(21,530	)		(21,545	)
Total equity		422,582			(63,575	)		359,007
Total liabilities and equity		542,587			—			542,587

Consolidated statements of financial position extract as of December 31, 2022 - Restatement

	As of December 31,						As of December 31,
	2022 (as reported)			Adjustments			2022 (as restated)
Liabilities
Current
Warrant liabilities		—			169			169
Total current liabilities		67,244			169			67,413
Total liabilities		87,531			169			87,700
Shareholders’ equity
Share capital		429,120			(24,186	)		404,934
Contributed surplus		65,512			(17,859	)		47,653
Accumulated deficit		(239,065	)		41,876			(197,189	)
Total equity		255,567			(169	)		255,398
Total liabilities and equity		343,098			—			343,098

Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss

Consolidated statements of profit or loss and comprehensive profit or loss extract for the year ended December 31, 2022 - Restatement

	Year ended December 31,
	2022 (as reported)			Adjustments			2022 (as restated)

Operating loss		(284,022	)		—			(284,022	)
Net financial income		(27,560	)		(63,406	)		(90,966	)
Net loss before income taxes		(256,462	)		63,406			(193,056	)
Income tax recovery		(17,412	)		—			(17,412	)
Net loss and total comprehensive loss		(239,050	)		63,406			(175,644	)

Loss per share
Basic and diluted		(1.15	)		0.30			(0.85	)
Weighted average number of common shares outstanding
Basic and diluted		207,776,000			—			207,776,000

Schedule of Consolidated Statements of Cash Flows

Consolidated statements of cash flows extract for the year ended December 31, 2022 - Restatement

	Year ended December 31,
	2022 (as reported)			Adjustments			2022 (as restated)
Cash flows from operating activities
Net loss		(239,050	)		63,406			(175,644	)
Adjustments for:
Net financial income		(27,560	)		(63,406	)		(90,966	)
Net change in cash related to operating activities		36,250			—			36,250

Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Nov. 30, 2023	Nov. 28, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Assets and Liabilities (Details) [Line Items]
Warrants issued (in Shares)			22,222,000
Broker warrants issued (in Shares)			3,000,000
Private Placements [Member]
Derivative Assets and Liabilities (Details) [Line Items]
Warrant liabilities	$ 40,426			$ 169
Relating cost		$ 34,276			$ 6,150

Share-Based Payments (Details) - Schedule of Outstanding Stock Options	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Schedule of Outstanding Stock Options [Abstract]
Outstanding Beginning, Number of Options	21,804,000	12,547,000
Outstanding Beginning, Weighted Average Exercise Price	$ 3.47	$ 4.86
Outstanding ending, Number of Options	20,939,000	21,804,000
Outstanding ending, Weighted Average Exercise Price	$ 2.41	$ 3.47
Exercisable, December 31, Number of Options	11,113,000	2,306,000
Exercisable, December 31, Weighted Average Exercise Price	$ 2.01	$ 0.46
Granted, Number of Options	13,156,000	9,592,000
Granted, Weighted Average Exercise Price	$ 2.58	$ 1.68
Exercised, Number of Options	(3,047,000)	(70,000)
Exercised, Weighted Average Exercise Price	$ 0.85	$ 0.41
Forfeited, Number of Options		(205,000)
Forfeited, Weighted Average Exercise Price		$ 5.65
Cancelled, Number of Options (in Shares) \| shares	(10,634,000)
Cancelled, Weighted Average Exercise Price	$ 5.15
Expired, Number of Options	(340,000)	(60,000)
Expired, Weighted Average Exercise Price	$ 5.47	$ 4.37

Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
As Reported [Member]
Current
Warrant liabilities
Total current liabilities	67,244	101,178
Total liabilities	87,531	120,005
Shareholders’ equity
Share capital	429,120	378,893
Contributed surplus	65,512	43,704
Accumulated deficit	(239,065)	(15)
Total equity	255,567	422,582
Total liabilities and equity	343,098	542,587
Adjustments [Member]
Current
Warrant liabilities	169	63,575
Total current liabilities	169	63,575
Total liabilities	169	63,575
Shareholders’ equity
Share capital	(24,186)	(24,186)
Contributed surplus	(17,859)	(17,859)
Accumulated deficit	41,876	(21,530)
Total equity	(169)	(63,575)
Total liabilities and equity
As restated [Member]
Current
Warrant liabilities	169	63,575
Total current liabilities	67,413	164,753
Total liabilities	87,700	183,580
Shareholders’ equity
Share capital	404,934	354,707
Contributed surplus	47,653	25,845
Accumulated deficit	(197,189)	(21,545)
Total equity	255,398	359,007
Total liabilities and equity	$ 343,098	$ 542,587

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Number of shares	Share capital	Contributed surplus	Retained earnings (accumulated deficit)	Revaluation surplus	Total
Balance at Dec. 31, 2021		$ 354,707	$ 25,845	$ (21,545)		$ 359,007
Balance (in Shares) at Dec. 31, 2021	194,806,000
Net loss				(175,644)		(175,644)
Total comprehensive loss, net of tax						(175,644)
Share-based payment			21,788			21,788
Issuance of common shares and warrants		54,086	35			54,121
Issuance of common shares and warrants (in Shares)	29,324,000
Deferred tax expense related to equity issuance costs		(3,895)				(3,895)
Exercise of stock options and warrants		36	(15)			21
Exercise of stock options and warrants (in Shares)	70,000
Balance at Dec. 31, 2022		404,934	47,653	(197,189)		255,398
Balance (in Shares) at Dec. 31, 2022	224,200,000
Net loss				(104,036)		(104,036)
Change in revaluation surplus - digital assets, net of tax					9,242	9,242
Total comprehensive loss, net of tax				(104,036)	9,242	(94,794)
Transfer of revaluation surplus on disposal of digital assets to retained earnings, net of tax				6,301	(6,301)
Share-based payment			10,915			10,915
Issuance of common shares and warrants		93,901				93,901
Issuance of common shares and warrants (in Shares)	97,386,000
Settlement of restricted share units		692	(692)
Settlement of restricted share units (in Shares)	250,000
Exercise of stock options and warrants		30,596	(1,254)			29,342
Exercise of stock options and warrants (in Shares)	12,317,000
Balance at Dec. 31, 2023		$ 530,123	$ 56,622	$ (294,924)	$ 2,941	$ 294,762
Balance (in Shares) at Dec. 31, 2023	334,153,000

Other Assets

12 Months Ended

Dec. 31, 2023

Other Assets [Abstract]

OTHER ASSETS

NOTE 8:

OTHER ASSETS

	As of December 31,		As of December 31,
	2023		2022
Sales taxes receivable*		805		3,816
Electrical component inventory		705		588
Other receivables		689		108
		2,199		4,512

* Refer to Note 28c for more details about the provision applied to the Argentine value-added tax (VAT) receivable included in sales taxes receivable.

Digital Assets (Details) - Schedule of Bitcoin Transactions and the Corresponding Values $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Bitcoin Transactions and the Corresponding Values [Abstract]
Balance of digital assets including digital assets pledged as collateral beginning balance, Quantity	405	3,301
Balance of digital assets including digital assets pledged as collateral beginning balance, Value	$ 6,705	$ 152,856
BTC earned, Quantity	4,928	5,167
BTC earned, Value	$ 141,306	$ 138,985
BTC purchased, Quantity		1,000
BTC purchased, Value		$ 43,237
BTC exchanged for cash and services, Quantity	(4,529)	(9,063)
BTC exchanged for cash and services, Value	$ (129,309)	$ (179,729)
Realized gain (loss) on disposition of digital assets, Quantity
Realized gain (loss) on disposition of digital assets, Value	$ 7,713	$ (150,810)
Change in unrealized gain on revaluation of digital assets, Quantity
Change in unrealized gain on revaluation of digital assets, Value	$ 7,556	$ 2,166
Balance of digital assets including digital assets pledged as collateral ending balance, Quantity	804	405
Balance of digital assets including digital assets pledged as collateral ending balance, Value	$ 33,971	$ 6,705
Less digital assets pledged as collateral, Quantity	(50)	(125)
Less digital assets pledged as collateral, Value	$ (2,101)	$ (2,070)
Balance of digital assets excluding digital assets pledged as collateral, Quantity	754	280
Balance of digital assets excluding digital assets pledged as collateral, Value	$ 31,870	$ 4,635

Assets Held for Sale (Details) - Schedule of Assets Held for Sale - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Movement of Assets Held for Sale [Line Items]
Assets held for sale	$ 1,388	$ 1,220
Miners [Member]
Schedule of Movement of Assets Held for Sale [Line Items]
Assets held for sale	521	1,220
Mining electrical components [Member]
Schedule of Movement of Assets Held for Sale [Line Items]
Assets held for sale	$ 867

Impairment (Details) - Schedule of Impairment Loss (Reversal) in the Comprehensive Profit or Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits	$ 6,982
Equipment and construction prepayments		30,199
Assets held for sale	388	545
ROU assets		2,034
Property, plant and equipment	4,882	42,435
Goodwill		17,900
Total	12,252	93,113
Immersion cooling equipment [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments
Assets held for sale
ROU assets
Property, plant and equipment	1,882
Goodwill
Total	1,882
Short term deposits [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits	6,982
Equipment and construction prepayments
Assets held for sale
ROU assets
Property, plant and equipment
Goodwill
Total	6,982
Miners held for sale [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments
Assets held for sale	388	545
ROU assets
Property, plant and equipment
Goodwill
Total	388	545
Suni mineral asset [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments
Assets held for sale
ROU assets
Property, plant and equipment	3,000	4,200
Goodwill
Total	$ 3,000	4,200
Washington state cryptocurrency mining CGU (“Washington CGU”) [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments
Assets held for sale
ROU assets		306
Property, plant and equipment		6,208
Goodwill		17,900
Total		24,414
Argentina cryptocurrency mining CGU (“Argentina CGU”) [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments		50,326
Assets held for sale
ROU assets		1,728
Property, plant and equipment		32,027
Goodwill
Total		84,081
Quebec cryptocurrency Mining CGU (“Quebec CGU”) [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments		(11,641)
Assets held for sale
ROU assets
Property, plant and equipment
Goodwill
Total		(11,641)
Paraguay cryptocurrency mining CGU (“Paraguay CGU”) [Member]
Schedule of Impairment on Equipment and Construction Prepayments [Line Items]
Short-term prepaid deposits
Equipment and construction prepayments		(8,486)
Assets held for sale
ROU assets
Property, plant and equipment
Goodwill
Total		$ (8,486)

Other Assets (Details) - Schedule of Other Assets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Other Assets [Abstract]
Sales taxes receivable	$ 805	$ 3,816
Electrical component inventory	705	588
Other receivables	689	108
Total	$ 2,199	$ 4,512

Net Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Net Earnings (Loss) Per Share [Abstract]

NET EARNINGS (LOSS) PER SHARE

NOTE 26:

NET EARNINGS (LOSS) PER SHARE

For the years ended December 31, 2023 and 2022, potentially dilutive securities have not been included in the calculation of diluted earnings (loss) per share because their effect is anti-dilutive. The additional potentially dilutive securities that would have been included in the calculation of diluted earnings per share, had their effect not been anti-dilutive for the year ended December 31, 2023, would have totaled approximately 4,964,000 (year ended December 31, 2022: 1,748,000).

Income Taxes (Details)	12 Months Ended
Income Taxes (Details)	Dec. 31, 2023
Income Taxes [Abstract]
Deferred tax rate	26.50%

Income Taxes (Details) - Schedule of Effective tax rate (Parentheticals)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective tax rate [Member]
Income Taxes (Details) - Schedule of Effective tax rate (Parentheticals) [Line Items]
Statutory rate	26.50%	26.50%

Assets Held for Sale (Details) - Schedule of Movement of Miners Held For Sale $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Assets Held for Sale (Details) - Schedule of Movement of Miners Held For Sale [Line Items]
Qty, beginning balance	3,784	6,060
Value, beginning balance	$ 1,220	$ 1,211
Qty, Additions	2,148	6,122
Value, Additions	$ 403	$ 2,103
Qty, Dispositions	(1,781)	(5,748)
Value, Dispositions	$ (714)	$ (1,549)
Qty, Impairment	(3,120)	(2,650)
Value, Impairment	$ (388)	$ (545)
Qty, ending balance	1,031	3,784
Value, ending balance	$ 521	$ 1,220
Antminer S9 Miners Value [Member]
Assets Held for Sale (Details) - Schedule of Movement of Miners Held For Sale [Line Items]
Qty, beginning balance		6,060
Value, beginning balance		$ 1,211
Qty, Additions
Value, Additions
Qty, Dispositions		(3,982)
Value, Dispositions		$ (779)
Qty, Impairment		(2,078)
Value, Impairment		$ (432)
Qty, ending balance
Value, ending balance
Innosilicon T2T & T3, Canaan Avalon A10 and Antminer T15 & S15 Miners Value [Member]
Assets Held for Sale (Details) - Schedule of Movement of Miners Held For Sale [Line Items]
Qty, beginning balance	1,272
Value, beginning balance	$ 190
Qty, Additions	1,848	2,051
Value, Additions	$ 198	$ 325
Qty, Dispositions		(207)
Value, Dispositions		$ (22)
Qty, Impairment	(3,120)	(572)
Value, Impairment	$ (388)	$ (113)
Qty, ending balance		1,272
Value, ending balance		$ 190
MicroBT Whatsminer M20S Miners Value [Member]
Assets Held for Sale (Details) - Schedule of Movement of Miners Held For Sale [Line Items]
Qty, beginning balance	2,512
Value, beginning balance	$ 1,030
Qty, Additions		4,071
Value, Additions		$ 1,778
Qty, Dispositions	(1,781)	(1,559)
Value, Dispositions	$ (714)	$ (748)
Qty, Impairment
Value, Impairment
Qty, ending balance	731	2,512
Value, ending balance	$ 316	$ 1,030
Bitmain S19j Pro Miners Value [Member]
Assets Held for Sale (Details) - Schedule of Movement of Miners Held For Sale [Line Items]
Qty, beginning balance
Value, beginning balance
Qty, Additions	300
Value, Additions	$ 205
Qty, Dispositions
Value, Dispositions
Qty, Impairment
Value, Impairment
Qty, ending balance	300
Value, ending balance	$ 205

Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2023

Subsidiaries [Abstract]

Schedule of Significant Subsidiaries

The Company’s significant subsidiaries as of December 31, 2023 are as follows:

Company name	Security type	Main place of business	Securities			Equity			Voting
Backbone	Common shares	CDA		100	%		100	%		100	%
Backbone Argentina	Ordinary shares	ARG		100	%		100	%		100	%
Backbone Paraguay	Ordinary shares	PAR		100	%		100	%		100	%
Backbone Mining	Common shares	USA		100	%		100	%		100	%
Orion	Common shares	CDA		100	%		100	%		100	%
Volta	Common shares	CDA		100	%		100	%		100	%

Derivative Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Assets and Liabilities [Abstract]

Schedule of Reconciliation of the Fair Value Measurement of Derivatives

Reconciliation of the fair value measurement of derivatives (Level 2):

	Year ended December 31,
	2023
	Derivative Assets		Derivative Liabilities
Balance as of January 1,		—		—
Remeasurement recognized in statement of profit or loss during the period		28		20
Purchases		1,253		366
Sales		—		(386	)
Balance as of December 31,		1,281		—

Schedule of Gain or Loss on Derivatives are Recognized in Net Financial Expenses (Income)

The following gain or loss on derivatives are recognized in Net financial expenses (income) in the consolidated statements of profit or loss and comprehensive profit or loss:

	Year ended December 31,
		2023
Unrealized change in fair value of outstanding contracts		409
Realized loss on settled contracts		(361	)
		48

Schedule of Measurement Date

November 28, 2023 warrants

	Initial recognition			Remeasurement on settlement of warrants						Remeasurement at period end
Measurement date	November 28, 2023			December 18, 2023			December 27, 2023			December 31, 2023
Dividend yield (%)		—			—			—			—
Expected share price volatility (%)		100	%		93	%		91	%		91	%
Risk-free interest rate (%)		4.89	%		4.43	%		4.20	%		4.23	%
Expected life of warrants (years)		3.00			2.93			2.91			2.90
Share price (CAD)		1.58			3.96			4.33			3.85
Exercise price (USD)		1.17			1.17			1.17			1.17
Fair value of warrants (USD)		0.74			2.22			2.69			2.15
Number of warrants granted (exercised)		22,222,000			(4,963,000	)		(2,000,000	)		15,259,000

November 28, 2023 broker warrants

	Initial recognition			Remeasurement on settlement of warrants						Remeasurement at period end
Measurement date	November 28, 2023			December 20, 2023			December 22, 2023			December 31, 2023
Dividend yield (%)		—			—			—			—
Expected share price volatility (%)		100	%		92	%		92	%		91	%
Risk-free interest rate (%)		4.89	%		4.34	%		4.31	%		4.23	%
Expected life of warrants (years)		3.00			2.93			2.92			2.90
Share price (CAD)		1.58			3.88			3.77			3.85
Exercise price (USD)		1.23			1.23			1.23			1.23
Fair value of warrants (USD)		0.72			2.01			2.21			2.12
Number of warrants granted (exercised)		3,000,000			(1,167,000	)		(1,140,000	)		693,000

January 7, 2021 broker warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		113	%		85	%		158	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.01			1.01			0.01
Share price (CAD)		6.38			0.56			3.85
Exercise price (CAD)		2.81			2.81			2.81
Fair value of warrants (USD)		3.72			0.01			0.64
Number of warrants outstanding		96,000			96,000			96,000

January 14, 2021 warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		113	%		88	%		78	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.53			1.53			0.53
Share price (CAD)		6.38			0.56			3.85
Exercise price (USD)		3.10			3.10			3.10
Fair value of warrants (USD)		3.63			0.02			0.56
Number of warrants outstanding		559,000			559,000			559,000

January 14, 2021 broker warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		113	%		88	%		78	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.53			1.53			0.53
Share price (CAD)		6.38			0.56			3.85
Exercise price (USD)		3.53			3.53			3.53
Fair value of warrants (USD)		3.52			0.01			0.43
Number of warrants outstanding		447,000			447,000			447,000

February 10, 2021 warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		113	%		88	%		76	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.60			1.60			0.60
Share price (CAD)		6.38			0.56			3.85
Exercise price (USD)		3.01			3.01			3.01
Fair value of warrants (USD)		3.68			0.02			0.62
Number of warrants outstanding		6,156,000			6,156,000			6,156,000

February 10, 2021 broker warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		113	%		88	%		76	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.60			1.60			0.60
Share price (CAD)		6.38			0.56			3.85
Exercise price (USD)		3.39			3.39			3.39
Fair value of warrants (USD)		3.58			0.01			0.50
Number of warrants outstanding		125,000			125,000			125,000

May 20, 2021 warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		111	%		86	%		85	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.38			1.38			0.38
Share price (CAD)		6.38			0.56			3.85
Exercise price (USD)		4.87			4.87			4.87
Fair value of warrants (USD)		3.12			—			0.15
Number of warrants outstanding		10,613,000			10,613,000			10,613,000

May 20, 2021 broker warrants

	Remeasurement at period end			Remeasurement at period end			Remeasurement at period end
Measurement date	January 1, 2022			December 31, 2022			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		111	%		86	%		85	%
Risk-free interest rate (%)		0.97	%		4.41	%		4.23	%
Expected life of warrants (years)		2.38			1.38			0.38
Share price (CAD)		6.38			0.56			3.85
Exercise price (USD)		5.49			5.49			5.49
Fair value of warrants (USD)		3.01			—			0.10
Number of warrants outstanding		1,132,000			1,132,000			1,132,000

Trade Payables and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Trade Payables and Accrued Liabilities [Abstract]

Schedule of Trade Payables and Accrued Liabilities

	As of December 31,		As of December 31,
	2023		2022
Trade accounts payable and accrued liabilities		9,077		12,897
Government remittances		11,662		7,644
		20,739		20,541

Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Details) - Schedule of Cost of Revenues - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Cost of Revenues [Abstract]
Energy and infrastructure	$ 78,942	$ 56,415
Depreciation and amortization	84,785	72,420
Purchases of electrical components	2,580	1,759
Electrician salaries and payroll taxes	1,561	1,316
Cost of revenues	$ 167,868	$ 131,910

Derivative Assets and Liabilities (Details) - Schedule of Measurement Date	Dec. 31, 2023 $ / shares shares	Dec. 31, 2023 $ / shares $ / shares shares	Dec. 27, 2023 $ / shares shares	Dec. 22, 2023 $ / shares shares	Dec. 20, 2023 $ / shares shares	Dec. 18, 2023 $ / shares shares	Nov. 28, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2022 $ / shares $ / shares shares	Jan. 01, 2022 $ / shares shares	Jan. 01, 2022 $ / shares $ / shares shares
Remeasurement on settlement of warrants [Member] \| November 28, 2023 Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)			91.00%			93.00%
Risk-free interest rate (%)			4.20%			4.43%
Expected life of warrants (years)			2 years 10 months 28 days			2 years 11 months 4 days
Share price (CAD) (in Dollars per share)			$ 4.33			$ 3.96
Exercise price (CAD) (in Dollars per share)			1.17			1.17
Exercise price (USD) (in Dollars per share)			1.17			1.17
Fair value of warrants (USD) (in Dollars per share)			$ 2.69			$ 2.22
Number of warrants granted (exercised) (in Shares) \| shares			(2,000,000)			(4,963,000)
Remeasurement on settlement of warrants [Member] \| November 28, 2023 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)				92.00%	92.00%
Risk-free interest rate (%)				4.31%	4.34%
Expected life of warrants (years)				2 years 11 months 1 day	2 years 11 months 4 days
Share price (CAD) (in Dollars per share)				$ 3.77	$ 3.88
Exercise price (CAD) (in Dollars per share)				1.23	1.23
Exercise price (USD) (in Dollars per share)				1.23	1.23
Fair value of warrants (USD) (in Dollars per share)				$ 2.21	$ 2.01
Number of warrants granted (exercised) (in Shares) \| shares				(1,140,000)	(1,167,000)
Remeasurement at period end [Member] \| November 28, 2023 Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	91.00%	91.00%
Risk-free interest rate (%)	4.23%	4.23%
Expected life of warrants (years)	2 years 10 months 24 days	2 years 10 months 24 days
Share price (CAD) (in Dollars per share)	$ 3.85
Exercise price (CAD) (in Dollars per share)	1.17
Exercise price (USD) (in Dollars per share)	1.17
Fair value of warrants (USD) (in Dollars per share)	$ 2.15	$ 2.15
Number of warrants granted (exercised) (in Shares) \| shares	15,259,000	15,259,000
Remeasurement at period end [Member] \| November 28, 2023 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	91.00%	91.00%
Risk-free interest rate (%)	4.23%	4.23%
Expected life of warrants (years)	2 years 10 months 24 days	2 years 10 months 24 days
Share price (CAD) (in Dollars per share)	$ 3.85
Exercise price (CAD) (in Dollars per share)	1.23
Exercise price (USD) (in Dollars per share)	1.23
Fair value of warrants (USD) (in Dollars per share)	$ 2.12	$ 2.12
Number of warrants granted (exercised) (in Shares) \| shares	693,000	693,000
Remeasurement at period end [Member] \| January 7, 2021 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	158.00%	158.00%						85.00%	85.00%	113.00%	113.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	3 days	3 days						1 year 3 days	1 year 3 days	2 years 3 days	2 years 3 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)		$ 2.81							$ 2.81		$ 2.81
Exercise price (USD) (in Dollars per share)		$ 2.81							$ 2.81		$ 2.81
Fair value of warrants (USD) (in Dollars per share)	$ 0.64	$ 0.64						$ 0.01	$ 0.01	$ 3.72	$ 3.72
Number of warrants outstanding (in Shares) \| shares	96,000	96,000						96,000	96,000	96,000	96,000
Remeasurement at period end [Member] \| January 14, 2021 Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	78.00%	78.00%						88.00%	88.00%	113.00%	113.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	6 months 10 days	6 months 10 days						1 year 6 months 10 days	1 year 6 months 10 days	2 years 6 months 10 days	2 years 6 months 10 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)	3.1							3.1		3.1
Exercise price (USD) (in Dollars per share)	3.1							3.1		3.1
Fair value of warrants (USD) (in Dollars per share)	$ 0.56	$ 0.56						$ 0.02	$ 0.02	$ 3.63	$ 3.63
Number of warrants outstanding (in Shares) \| shares	559,000	559,000						559,000	559,000	559,000	559,000
Remeasurement at period end [Member] \| January 14, 2021 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	78.00%	78.00%						88.00%	88.00%	113.00%	113.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	6 months 10 days	6 months 10 days						1 year 6 months 10 days	1 year 6 months 10 days	2 years 6 months 10 days	2 years 6 months 10 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)	3.53							3.53		3.53
Exercise price (USD) (in Dollars per share)	3.53							3.53		3.53
Fair value of warrants (USD) (in Dollars per share)	$ 0.43	$ 0.43						$ 0.01	$ 0.01	$ 3.52	$ 3.52
Number of warrants outstanding (in Shares) \| shares	447,000	447,000						447,000	447,000	447,000	447,000
Remeasurement at period end [Member] \| February 10, 2021 Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	76.00%	76.00%						88.00%	88.00%	113.00%	113.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	7 months 6 days	7 months 6 days						1 year 7 months 6 days	1 year 7 months 6 days	2 years 7 months 6 days	2 years 7 months 6 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)	3.01							3.01		3.01
Exercise price (USD) (in Dollars per share)	3.01							3.01		3.01
Fair value of warrants (USD) (in Dollars per share)	$ 0.62	$ 0.62						$ 0.02	$ 0.02	$ 3.68	$ 3.68
Number of warrants outstanding (in Shares) \| shares	6,156,000	6,156,000						6,156,000	6,156,000	6,156,000	6,156,000
Remeasurement at period end [Member] \| February 10, 2021 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	76.00%	76.00%						88.00%	88.00%	113.00%	113.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	7 months 6 days	7 months 6 days						1 year 7 months 6 days	1 year 7 months 6 days	2 years 7 months 6 days	2 years 7 months 6 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)	3.39							3.39		3.39
Exercise price (USD) (in Dollars per share)	3.39							3.39		3.39
Fair value of warrants (USD) (in Dollars per share)	$ 0.5	$ 0.5						$ 0.01	$ 0.01	$ 3.58	$ 3.58
Number of warrants outstanding (in Shares) \| shares	125,000	125,000						125,000	125,000	125,000	125,000
Remeasurement at period end [Member] \| May 20, 2021 Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	85.00%	85.00%						86.00%	86.00%	111.00%	111.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	4 months 17 days	4 months 17 days						1 year 4 months 17 days	1 year 4 months 17 days	2 years 4 months 17 days	2 years 4 months 17 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)	4.87							4.87		4.87
Exercise price (USD) (in Dollars per share)	4.87							$ 4.87		4.87
Fair value of warrants (USD) (in Dollars per share)	$ 0.15	$ 0.15								$ 3.12	$ 3.12
Number of warrants outstanding (in Shares) \| shares	10,613,000	10,613,000						10,613,000	10,613,000	10,613,000	10,613,000
Remeasurement at period end [Member] \| May 20, 2021 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)	85.00%	85.00%						86.00%	86.00%	111.00%	111.00%
Risk-free interest rate (%)	4.23%	4.23%						4.41%	4.41%	0.97%	0.97%
Expected life of warrants (years)	4 months 17 days	4 months 17 days						1 year 4 months 17 days	1 year 4 months 17 days	2 years 4 months 17 days	2 years 4 months 17 days
Share price (CAD) (in Dollars per share)	$ 3.85							$ 0.56		$ 6.38
Exercise price (CAD) (in Dollars per share)	5.49							5.49		5.49
Exercise price (USD) (in Dollars per share)	5.49							$ 5.49		5.49
Fair value of warrants (USD) (in Dollars per share)	$ 0.1	$ 0.1								$ 3.01	$ 3.01
Number of warrants outstanding (in Shares) \| shares	1,132,000	1,132,000						1,132,000	1,132,000	1,132,000	1,132,000
Initial recognition [Member] \| November 28, 2023 Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Expected share price volatility (%)							100.00%
Risk-free interest rate (%)							4.89%
Expected life of warrants (years)							3 years
Share price (CAD) (in Dollars per share)							$ 1.58
Exercise price (CAD) (in Dollars per share)							1.17
Exercise price (USD) (in Dollars per share)							1.17
Fair value of warrants (USD) (in Dollars per share)							$ 0.74
Number of warrants granted (exercised) (in Shares) \| shares							22,222,000
Initial recognition [Member] \| November 28, 2023 Broker Warrants [Member]
Derivative Assets and Liabilities (Details) - Schedule of Measurement Date [Line Items]
Dividend yield (%)
Expected share price volatility (%)							100.00%
Risk-free interest rate (%)							4.89%
Expected life of warrants (years)							3 years
Share price (CAD) (in Dollars per share)							$ 1.58
Exercise price (CAD) (in Dollars per share)							1.23
Exercise price (USD) (in Dollars per share)							1.23
Fair value of warrants (USD) (in Dollars per share)							$ 0.72
Number of warrants granted (exercised) (in Shares) \| shares							3,000,000

Trade Payables and Accrued Liabilities (Details) - Schedule of Trade Payables and Accrued Liabilities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Trade Payables and Accrued Liabilities [Abstract]
Trade accounts payable and accrued liabilities	$ 9,077	$ 12,897
Government remittances	11,662	7,644
Total	$ 20,739	$ 20,541

Share Capital (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of Share Capital [Abstract]

Schedule of Outstanding Warrants

Details of the outstanding warrants are as follows:

	Year ended December 31,
	2023					2022
	Number of warrants			Weighted average exercise price (USD)		Number of warrants			Weighted average exercise price (USD)
Outstanding, January 1,		19,153,000			4.21		19,428,000			4.16
Granted		25,222,000			1.18		25,000			3.47
Exercised		(9,270,000	)		1.18		—			—
Expired		—			—		(300,000	)		1.19
Outstanding, December 31,		35,105,000			2.83		19,153,000			4.21

Schedule of Company Completed a Private Placement

In November 2023, the Company completed a private placement for total gross proceeds of $43,799 (CAD$60,000) in exchange for 44,444,000 common shares and 22,222,000 warrants to purchase common shares:

Closing Date	November 28, 2023
Gross proceeds (CAD)		60,000
Common shares issued		44,444,000
Warrants issued*		22,222,000
Warrant strike price (USD)		1.17
Warrant life (years)		3
Commission paid		7	%
Broker warrants issued*		3,000,000
Broker warrant strike price (USD)		1.23
Broker warrant life (years)		3

All warrants issued are for the purchase of one common share in the Company

Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Apr. 12, 2018
Impairment (Details) [Line Items]
Deposit amount	$ 6,982
Short-term prepaid deposits	6,982
Estimated cost			$ 9,000
Determined value		$ 3,000
Impairment loss	3,000
Impairment charge	$ 1,882
Purchase agreement (in Shares)	48,000
Washington CGU [member]
Impairment (Details) [Line Items]
Impairment charge to goodwill		24,414
Argentina CGU [member]
Impairment (Details) [Line Items]
Impairment charge to goodwill		$ 84,081
Quebec CGU [member]
Impairment (Details) [Line Items]
Impairment losses	$ 11,641
Paraguay CGU [Member]
Impairment (Details) [Line Items]
Impairment losses	8,486
Suni mineral asset [Member]
Impairment (Details) [Line Items]
Estimated cost			$ 9,000
Determined value	3,250
Impairment value	4,200
Bottom of Range [Member] \| Suni mineral asset [Member]
Impairment (Details) [Line Items]
Estimated cost	3,000
Top of Range [Member] \| Suni mineral asset [Member]
Impairment (Details) [Line Items]
Estimated cost	$ 7,200

Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Previously stated [member]
Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss [Line Items]
Operating loss	$ (284,022)
Net financial income	(27,560)
Net loss before income taxes	(256,462)
Income tax recovery	(17,412)
Net loss and total comprehensive loss	$ (239,050)
Loss per share
Basic (in Dollars per share) \| $ / shares	$ (1.15)
Weighted average number of common shares outstanding
Basic (in Shares) \| shares	207,776,000
Adjustments [Member]
Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss [Line Items]
Operating loss
Net financial income	(63,406)
Net loss before income taxes	63,406
Income tax recovery
Net loss and total comprehensive loss	$ 63,406
Loss per share
Basic (in Dollars per share) \| $ / shares	$ 0.3
Weighted average number of common shares outstanding
Basic (in Shares) \| shares
As restated [Member]
Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss [Line Items]
Operating loss	$ (284,022)
Net financial income	(90,966)
Net loss before income taxes	(193,056)
Income tax recovery	(17,412)
Net loss and total comprehensive loss	$ (175,644)
Loss per share
Basic (in Dollars per share) \| $ / shares	$ (0.85)
Weighted average number of common shares outstanding
Basic (in Shares) \| shares	207,776,000

Subsidiaries (Details) - Schedule of Significant Subsidiaries	12 Months Ended
	Dec. 31, 2023
Backbone [Member]
Subsidiaries (Details) - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Main place of business	CDA
Securities	100.00%
Equity	100.00%
Voting	100.00%
Backbone Argentina [Member]
Subsidiaries (Details) - Schedule of Significant Subsidiaries [Line Items]
Security type	Ordinary shares
Main place of business	ARG
Securities	100.00%
Equity	100.00%
Voting	100.00%
Backbone Paraguay [Member]
Subsidiaries (Details) - Schedule of Significant Subsidiaries [Line Items]
Security type	Ordinary shares
Main place of business	PAR
Securities	100.00%
Equity	100.00%
Voting	100.00%
Backbone Mining [Member]
Subsidiaries (Details) - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Main place of business	USA
Securities	100.00%
Equity	100.00%
Voting	100.00%
Orion [Member]
Subsidiaries (Details) - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Main place of business	CDA
Securities	100.00%
Equity	100.00%
Voting	100.00%
Volta [Member]
Subsidiaries (Details) - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Main place of business	CDA
Securities	100.00%
Equity	100.00%
Voting	100.00%

Intangible Assets (Details) - Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Additions to intangibles	$ 3,801
Additional capacity	172 MW
Baie-Comeau, Quebec [Member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Additions to intangibles	$ 2,315
Additional capacity	22 MW
Term of contractual access rights	No termination date
Amortization method and period	Straight-line over the lease term of the facility
Villarrica (Paso Pe), Paraguay [Member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Additions to intangibles	$ 1,065
Additional capacity	50 MW
Term of contractual access rights	Ending in December 31, 2027
Amortization method and period	Straight-line over the access rights period
Yguazu, Paraguay [Member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Additions to intangibles	$ 421
Additional capacity	100 MW
Term of contractual access rights	Ending in December 31, 2027
Amortization method and period	Straight-line over the access rights period

Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments [Abstract]
Currency increase decrease percentage	5.00%
Increase or decrease of retained earning	$ 44	$ 215

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment net book value	$ 3,330	$ 3,330
M20S [Member]
Property, Plant and Equipment [Line Items]
Classified as assets held for sale	36,018
Assets held for sale	2,512
M30S [Member]
Property, Plant and Equipment [Line Items]
Classified as assets held for sale	12,517
Assets held for sale	30,210
M31S [Member]
Property, Plant and Equipment [Line Items]
Classified as assets held for sale	2,473
Assets held for sale	12,653
T3 [Member]
Property, Plant and Equipment [Line Items]
Assets held for sale	4,439
T2T Miners [Member]
Property, Plant and Equipment [Line Items]
Assets held for sale	1,272
M31S+Net Book [Member]
Property, Plant and Equipment [Line Items]
Assets held for sale	$ 3,000

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of presentation of the financial statements

Basis of presentation of the financial statements

The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”). These consolidated financial statements were approved and authorized for issue by the Board of Directors on March 6, 2024.

The consolidated financial statements have been prepared on a cost basis, except for derivative financial instruments and digital assets that are measured at fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand, except where otherwise indicated.

Material accounting policy information

Material accounting policy information

Presentation of profit and loss

The Company has elected to present the profit or loss items using the function of expense method.

The operating cycle

The operating cycle of the Company is to exchange computational power used for hashing calculations for digital assets and then routinely deposit them into custody, or convert them to fiat currency as needed. The Company’s activities have a one-year operating cycle. Accordingly, the assets and liabilities are classified in the statement of financial position as current assets and liabilities based on the Company’s operating cycle.

Consolidated financial statements

These financial statements consolidate the Company’s subsidiaries from the date of acquisition until the date that control is lost. The subsidiaries are controlled by the Company, where control is achieved when the Company is exposed to or has the right to variable returns from its involvement with the investee and has the current ability to direct the activities of the investee that significantly affect the investee’s returns.

The financial statements of the Company and its subsidiaries are prepared as of the same dates and periods. The consolidated financial statements are prepared using uniform accounting policies by all subsidiaries of the Company. Significant intercompany balances and transactions and gains or losses resulting from intercompany transactions are eliminated in full in the consolidated financial statements.

Goodwill

Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the fair value of the net identifiable assets acquired and liabilities assumed).

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company’s cash-generating units (“CGUs”) or group of CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.

A CGU or group of CGUs to which goodwill has been allocated are tested for impairment annually or more frequently when there is an indication that the CGU or group of CGUs may be impaired. If the recoverable amount of the CGU or group of CGUs is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the CGU or group of CGUs and then to the other assets of the CGU or group of CGUs on a pro-rata basis of the carrying amount of each asset in the CGU or group of CGUs. An impairment loss recognized for goodwill is not reversed in a subsequent period. The Company has designated December 31 as the date for its annual impairment test.

Foreign currency translation

Functional currency and presentation currency

The financial statements are presented in U.S. Dollars, which is the functional currency of the parent company, as well as the functional currency of Backbone, Backbone Argentina, Backbone Paraguay, Backbone Mining and Orion. The functional currency is the currency that best reflects the economic environment in which the Company operates and conducts its transactions.

The Company determines the functional currency of each subsidiary. Volta, a Canadian subsidiary, has a Canadian functional currency, and, as such, assets and liabilities are translated using the exchange rate in effect at each reporting date. Revenues and expenses are translated using the average exchange rates in effect for all periods presented. The resulting translation differences are included in other comprehensive income. The translation differences on foreign currency translation of Volta were immaterial for the years ended December 31, 2023 and December 31, 2022.

ii.

Transactions, assets and liabilities in foreign currency

Transactions in foreign currency are initially recorded at the exchange rate in effect on the transaction date. Monetary assets and liabilities in foreign currency are subsequently translated into the functional currency at the exchange rate in effect at each reporting date. Exchange rate differences, other than those capitalized to qualifying assets or carried to equity in hedging transactions, are included in profit or loss. Non-monetary assets and liabilities in foreign currency stated at cost are translated at the exchange rate in effect at the transaction date. Non-monetary assets and liabilities in foreign currency carried at fair value are translated at the exchange rate at the date on which the fair value was determined.

Revenue recognition

Revenue from contracts with customers is recognized when control over the goods or services is transferred to the customer. The transaction price is the amount of the consideration that is expected to be received based on the contract terms, excluding amounts collected on behalf of third parties (such as taxes). The following are the specific revenue recognition criteria which must be met before revenue is recognized:

Revenues from sale of computational power used for hashing calculations

The Company has entered into arrangements with a Mining pool and has undertaken the performance obligation of providing computing power used for hashing calculations to the Mining pool in exchange for non-cash consideration in the form of cryptocurrency, which is variable consideration. The cryptocurrency earnings are calculated based on a formula which, in turn, is based on the hashrate contributed by the Company's provided computing power used for hashing calculations allocated to the Mining pool, assessed over a 24-hour period, and distributed daily based on the FPPS methodology. The Company assesses the estimated amount of the variable non-cash consideration to which it expects to be entitled for providing computational power used for hashing calculations at contract inception and subsequently measures if it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The uncertainties regarding the daily variable consideration to which the Company is entitled for providing its computational power used for hashing calculations are no longer constrained at 23:59:59 UTC regardless of the timing of the BTC received. The amount earned is calculated based on the Company's computing power used for hashing calculations provided to the Mining pool and the estimated (i) block subsidies and (ii) daily average transaction fees which the Mining Pool expects to earn, less (iii) a Mining pool discount.

(i) Block subsidies refers to the block reward that are expected to be generated on the BTC network as a whole. The fee earned by the Company is first calculated by dividing (a) the total amount of hashrate the Company provides to the Mining pool operator, by (b) the total BTC network’s implied hashrate (as determined by the BTC network difficulty), multiplied by (c) the total amount of block subsidies that are expected to be generated on the BTC network as a whole.

(ii) Transaction fees refers to the total fees paid by users of the network to execute transactions. The fee paid out by the Mining pool operator to the Company is further calculated by dividing (a) the total amount of transaction fees that are actually generated on the BTC network as a whole less the 3 largest and 3 smallest transactions per block, by (b) the total amount of block subsidies that are actually generated on the BTC network as a whole, multiplied by (c) the Company’s fee earned as calculated in (i) above. The Company is entitled to its relative share of consideration even if a block is not successfully added to the blockchain by the mining pool.

(iii) Mining pool discount refers to the discount applied to the total FPPS payout otherwise attributed to computing power service providers for their sale of computing power used for hashing calculations as defined in the rate schedule of the agreement with the Mining pool operator.

The Company is entitled to the fee from the Mining Pool as calculated above regardless of the actual performance of the Mining Pool operator. Therefore, even if the Mining Pool does not successfully add any block to the blockchain in a given contract period, the fee remains payable by the Mining Pool to the Company. Accordingly, the Company is not sharing in the earnings of the Mining pool operator.

The Company’s agreements with the Mining pool operator provide the Mining pool operator and the Company with the enforceable right to terminate the contract at any time without substantively compensating the other party for the termination. Upon termination, the Mining pool operator is required to pay the Company the amount due related to previously satisfied performance obligations. As a result, the Company has determined that the duration of the contract is less than 24 hours and the contract is continuously renewed throughout the day. The Company has also determined that the Mining pool operator’s renewal right is not a material right as the terms, conditions, and compensation amounts are at then-current market rates.

The cryptocurrency earned is received in full and can be paid in fractions of cryptocurrency. Revenues from providing cryptocurrency computational power used for hashing calculations are recognized upon delivery of the service over a 24-hour period, which generally coincides with the receipt of crypto assets in exchange for the provision of computational power used for hashing calculations and the contract inception date. The Company updates the estimated transaction price of the non-cash consideration received at its fair market value. Management estimates fair value daily based on the quantity of cryptocurrency received multiplied by the price quoted from Coinbase Inc. (“Coinbase”) on the day it was received. Management considers the prices quoted on Coinbase to be a level 1 input under IFRS 13, Fair Value Measurement.

ii.

Revenue from electrical services

The Company, through Volta, sells electrical components and provides electrician installation of those components as well as repair and maintenance services. Revenues are recognized according to the stage of completion of the transaction as of the balance sheet date. The stage of completion is estimated based on the costs incurred for the transaction compared to the estimated cost of completion for the project. Under this method, revenues are recognized in the reporting period in which the services are provided. In the event that the outcome of the contract cannot be measured reliably, the revenues are recognized to the extent of the recoverable expenses incurred.

Digital assets

Cryptocurrency on hand at the end of a reporting period, if any, is classified as digital assets, and is accounted for under IAS 38, Intangible Assets, as an intangible asset with an indefinite useful life initially measured at cost, deemed to be the fair value upon receipt as described above, and subsequently measured under the revaluation model. Under the revaluation model, increases in the cryptocurrency’s carrying amount, determined as the excess of fair value on revaluation over the weighted average cost, are recognized in other comprehensive income, except to the extent that they reverse a revaluation decrease previously recognized in profit or loss. Decreases are recognized in profit or loss, except to the extent that they reverse a revaluation increase previously recognized in other comprehensive income. Once the cryptocurrency is sold, the revaluation increase related to it is transferred from revaluation surplus to retained earnings. The Company revalues its cryptocurrency on hand on a monthly basis and following any significant fair value fluctuations. The fair value of cryptocurrency on hand at the end of the reporting period is calculated as the quantity of cryptocurrency on hand multiplied by the price quoted on Coinbase as of the reporting date.

The Company reports cryptocurrency on hand at the end of the reporting period as digital assets, which are classified as current assets as Management has determined that the cryptocurrency on hand at the end of the reporting period has markets with sufficient liquidity to allow conversion within the Company’s normal operating cycle and the Company expects to realize the digital asset within twelve months after the reporting period. The Company presents cryptocurrency pledged as collateral separate from unencumbered cryptocurrency.

Income tax

The income tax expense for the year comprises current and deferred taxes. These taxes are recognized in profit or loss except to the extent they relate to items which are recognized in other comprehensive income or loss or directly in shareholders’ equity.

Current taxes

The current tax liability is measured using the tax rates and tax laws that have been enacted or substantively enacted by the reporting date as well as adjustments required in connection with tax liabilities in respect of previous years.

ii.

Deferred taxes

Deferred taxes are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized, or the liability is settled, based on tax laws that have been enacted or substantively enacted by the reporting date.

Deferred tax assets are reviewed at each reporting date and reduced to the extent that it is not probable they will be utilized. Deductible carryforward losses and temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred tax asset is recognized to the extent that their utilization is probable.

Taxes that would apply in the event of the disposal of investments in investees have not been taken into account in computing deferred taxes as long as the disposal of the investments in investees is not probable in the foreseeable future.

Leases

The Company assesses at contract inception whether a contract is, or contains, a lease. The determination is based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Company as a lessee applies a single recognition and measurement approach for all leases except for short-term leases and leases of low-value assets. The Company recognizes lease liabilities to make lease payments and right-of-use assets (“ROU assets”) representing the right to use the underlying assets.

ROU assets

The Company recognizes ROU assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). ROU assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of ROU assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. ROU assets are depreciated over the shorter of the lease term and the estimated useful lives of the assets, as follows:

Asset Class	Depreciation Method	Depreciation period
Leased premises	Straight-line	4-10 years
Vehicles and other	Straight-line	3-5 years
BVVE and Electrical components	Sum of years	5 years

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase option, the asset is depreciated over the estimated useful life of the asset and is classified with property plant and equipment. Refer to the accounting policies of property, plant and equipment in this note. The ROU assets are also subject to impairment. Refer to the accounting policies of Impairment of non-financial assets in this note.

ii.

Lease liabilities

At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease if the lease term reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

iii.

Short-term leases and leases of low value assets

The Company applies the short-term lease recognition exemption to its short-term leases of machinery, equipment and farming facilities (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). The Company also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognized as an expense on a straight-line basis over the lease term.

Assets held for sale

Non-currents assets or a disposal group are classified as held for sale if their carrying amount is expected to be recovered principally through a sale transaction rather than through continuing use. For this to be the case, the assets must be available for immediate sale in their present condition, the Company must be committed to their sale, there must be a program to locate a buyer, and it is highly probable that a sale will be completed within one year from the date of classification. From the date of such initial classification, the assets are no longer depreciated and are presented separately as current assets at the lower of their carrying amount and fair value less costs to sell. The gain or loss on disposition of assets held for sale will be presented separately in other comprehensive income (loss) only when it qualifies as part of discontinued operations.

When an entity no longer plans to sell an asset in a sale transaction, it ceases the classification of the asset as held for sale and measures it at the lower of its carrying amount had it not been classified as held for sale or the recoverable amount of the asset on the date of the decision not to sell the asset.

Property, plant and equipment

Property, plant and equipment are carried at cost, including directly attributable costs, less accumulated depreciation, accumulated impairment losses and any related investment grants, and excluding day-to-day servicing expenses. Cost includes spare parts and auxiliary equipment that are used in connection with plant and equipment. The cost of an item of property, plant and equipment includes the initial estimate of the costs of dismantling and removing the item and restoring the site on which the item is located.

Property, plant and equipment are depreciated as follows:

Asset Class	Depreciation Method	Depreciation period
BVVE	Sum of years	5 years
Mineral assets *	N/A	N/A
Electrical equipment	Sum of years	5 years
Leasehold improvements	Straight-line	Shorter of the lease term and the expected life of the improvement
Buildings	Declining balance	4%
Vehicles	Declining balance	30%

* From the acquisition of mineral assets in 2018 until their disposal during the year ended December 31, 2023, there has been no production.

The useful life, depreciation method and residual value of an asset are reviewed at least each year-end and any changes are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is derecognized.

The sum of years depreciation method is calculated as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Rate	5/15	4/15	3/15	2/15	1/15
Percentage	33.33%	26.67%	20.00%	13.33%	6.67%

Intangible assets

Intangible assets consist of acquired software, access rights to electricity, and a below market lease acquired in a business combination used in the Company’s cryptocurrency Mining operations. Intangible assets acquired separately are initially measured at cost plus direct acquisition costs. Intangible assets acquired in business combinations are measured at their fair value as of the acquisition date.

Intangible assets, other than access rights to electricity and favorable lease, with a finite useful life are amortized over their useful lives using the sum of years method. Access rights to electricity and favorable leases are amortized using the straight-line method over the lease term of the facility or the access rights period. Intangible assets are reviewed for impairment whenever there is an indication that the asset may be impaired. The amortization period and the amortization method for an intangible asset are reviewed at least at each year end.

Intangible assets are amortized as follows:

Asset Class	Amortization Method	Amortization period
Systems software	Sum of years	5 years
Access rights to electricity	Straight-line	Lease term of the facility or the access rights period
Favorable lease	Straight-line	Lease term

Systems software

The Company’s assets include computer systems comprised of hardware and software. Certain hardware comes pre-installed with firmware. Without this firmware, the hardware could not function and therefore both the hardware and firmware are classified within property, plant and equipment. In contrast, stand-alone software that adds functionality to the hardware is classified as an intangible asset.

The sum of years amortization method for systems software is calculated as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Rate	5/15	4/15	3/15	2/15	1/15
Percentage	33.33%	26.67%	20.00%	13.33%	6.67%

ii.

Access rights to electricity

The Company’s access rights to electricity were obtained from the acquisitions of assets described in Note 5.

Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker, who is responsible for allocating resources and assessing the performance of the operating segments, and which has been identified as the Management team that makes strategic decisions.

Impairment of non-financial assets

The Company evaluates the need to record an impairment of non-financial assets whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate independent cash flows is determined for the CGU to which the asset belongs. Impairment losses are recognized in profit or loss.

An impairment loss of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. Reversal of an impairment loss, as noted above, shall not be increased above the lower of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is recognized in profit or loss.

Financial instruments

Financial assets

Initial recognition and measurement

Financial assets are initially measured at fair value plus transaction costs that can be directly attributed to the acquisition of the financial asset, except in the case of a financial asset measured at fair value through profit or loss in respect of which transaction costs are charged to profit or loss.

Subsequent measurement

Financial assets presented at amortized cost are subsequently measured using the effective interest rate method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Company’s financial assets at amortized cost includes trade receivables and certain items included in other assets. Net changes in financial assets measured at fair value are recognized in the statement of profit or loss. The Company’s financial assets at fair value include derivative assets.

Impairment

The Company recognizes an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

For trade receivables, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date.

The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

ii.

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified at initial recognition at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company’s financial liabilities include trade payables, accrued liabilities, warrant liabilities and long-term debt.

Subsequent measurement

Financial liabilities are either measured at fair value through profit or loss or at amortized cost. Financial liabilities measured at fair value through profit or loss included warrant liabilities relating to the private placement described in Note 3e, 10 and 21. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the effective interest rate (“EIR”) method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as financial expenses in the statement of profit or loss. This category generally applies to interest-bearing loans and borrowings.

iii.

Derecognition of financial assets

Financial assets are derecognized when the contractual rights to receive the cash flows from the financial asset expire, or when the Company transfers the contractual rights to a third party to receive the cash flows from the financial asset or assumes an obligation to pay the cash flows received in full to a third party without significant delay.

iv.

Derecognition of financial liabilities

Financial liabilities are derecognized when they are extinguished, which occurs when the obligation defined in the contract is fulfilled, cancelled or expires. A financial liability is fulfilled when the debtor repays the liability by paying cash, providing other financial assets, goods or services, or is otherwise legally released from the liability.

Cash flow hedges

The company entered into BTC option contracts to reduce the risk of variability of cash flows resulting from future sales of digital assets. Each BTC option contract meets the definition of a cash flow hedge as per IFRS 9, Financial Instruments (“IFRS 9”). IFRS 9 provides a non-compulsory accounting policy choice of hedge accounting. The Company elected to not apply hedge accounting on BTC option contracts. The changes in the fair value of the derivatives are recognized in profit or loss.

Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair value measurement is based on the assumption that the transaction will take place in the asset’s or the liability’s principal market, or in the absence of a principal market, in the most advantageous market. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Fair value measurement of non-financial assets takes into account the ability of a market participant to derive economic benefits from the asset through its best use, or by selling it to another market participant capable of using the asset to its best use.

Level		Definition
Level 1		Unadjusted quoted prices in an active market of identical assets and liabilities
Level 2		Non-quoted prices included in Level 1 that are either directly or indirectly observable
Level 3		Data that is not based on observable market information, such as valuation techniques without the use of observable market data

Provisions

Provisions represent liabilities to the Company for which the amount or timing is uncertain. Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligations and the amounts can be reliably estimated. When the Company expects that part or all of the expense will be refunded, such as an insurance claim, the refund will be recognized as a separate asset only on the date when there is certainty of receiving the asset. The expense will be recognized in the statement of profit or loss net of the expected refund.

Asset retirement provisions

These provisions relate to Backbone and Backbone Argentina’s legal obligation, in relation to its leased properties, to restore the properties to their original condition at the end of the lease period. The provisions are calculated at the present value of the expected costs to settle the obligations using estimated future cash flows discounted at a rate that reflects the risks specific to the obligations. Changes in the estimated future costs, or in the discount rate applied, are recorded as an adjustment of the cost of the related asset.

Share-based transactions

Transactions settled with equity instruments

The cost of employee services paid in equity instruments is measured at the fair value of the equity instruments as of the grant date. The fair value is determined using a generally accepted option pricing model. Equity settled transactions with other services providers are measured at the fair value of the goods or services received in return for the equity instruments. The cost of equity-settled transactions is recognized in profit or loss together with a corresponding increase in contributed surplus during the period in which the performance and/or service conditions are to be satisfied and ending on the date on which the relevant employees become entitled to the award (“the vesting period”). The cumulative expense recognized for equity-settled transactions at the end of each reporting period until the vesting date reflects the extent to which the vesting period has expired and Management’s best estimate of the number of equity instruments that will ultimately vest.

Expenses related to grants that do not vest are not recognized. Grants where the fair value is determined at the date of the grant based on non-vesting market conditions are treated as vested, assuming all other vesting conditions (service and/or performance) are met.

When the Company modifies the terms of equity-settled transactions, an additional expense is recognized on the date of the modification and is calculated as the increase in the fair value of the compensation granted in excess of the original expense. Cancellation of equity settlement that has not vested is treated as if it had vested on the date of cancellation, with the unrecognized expense recognized immediately. However, if the cancellation is subsequently replaced by a new agreement and is designated as an alternative settlement, then it is treated as a modification of the original agreement as described above.

Earnings per share

Earnings per share is calculated by dividing the net income attributable to the Company’s shareholders by the weighted average number of common shares outstanding during the period. Potential common shares are included in the calculation of diluted earnings per share if their effect dilutes earnings per share from continuing operations. Potential common shares that were converted during the period are included in diluted earnings per share only up to the conversion date, and from that date are included in basic earnings per share.

Share capital and issue of a unit of securities

Share capital represents the amount received on the issuance of shares, less issuance costs (net of tax).

The issue of a unit of securities involves the allocation of the proceeds received before issue expenses to the securities issued in the unit based on the following order: financial derivatives and other financial instruments measured at fair value in each period. Fair value is then determined for financial liabilities that are measured at amortized cost. The proceeds allocated to equity instruments are determined to be the residual amount. Issue costs are allocated to each component pro rata to the amounts determined for each component in the unit.

New accounting amendments issued and adopted by the Company

New accounting amendments issued and adopted by the Company

The following amendments to existing standards were adopted by the Company as of January 1, 2023:

Amendments to IAS 1, Presentation of Financial Statements (“IAS 1”)

Amendments to IAS 1 change the requirements in IAS 1 with regard to disclosure of accounting policies. Applying the amendments, an entity discloses its material accounting policy information instead of its significant accounting policies. Further amendments to IAS 1 explain how an entity can identify material accounting policy information.

Amendments to IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”)

Amendments to IAS 8 replace the definition of a change in accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.”

The adoption by the Company of the amendments listed above did not have a significant impact on the Company’s Financial Statements.

New accounting amendments issued to be adopted at a later date

New accounting amendments issued to be adopted at a later date

The following amendments to existing standards have been issued and are applicable to the Company for its annual period beginning on January 1, 2024:

Amendments to IFRS 16, Leases (“IFRS 16”)

Amendments to IFRS 16 require a seller-lessee to subsequently measure lease liabilities arising from a leaseback in a manner that does not recognize any amount of the gain or loss that relates to the right-of-use retained. The new requirements do not prevent a seller-lessee from recognizing in profit or loss any gain or loss relating to the partial or full termination of a lease.

Amendments to IAS 1

Amendments to IAS 1 clarify how to classify debt and other liabilities as current or non-current. The amendments help to determine whether, in the consolidated financial statements, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments also include clarifying the classification requirements for debt that an entity might settle by converting into equity.

Amendments to IAS 1 specify that covenants to be complied with after the reporting date do not affect the classification of debt as current or non-current at the reporting date. Instead, the amendments require information about these covenants be disclosed in the notes to the financial statements.

Amendments to IAS 7, Statement of Cash Flows (“IAS 7”) and IFRS 7, Financial Instruments: Disclosures (“IFRS 7”)

Amendments to IAS 7 and IFRS 7 introduce disclosure requirements to enhance the transparency of supplier finance arrangements and their effects on an entity’s liabilities, cash flows and exposure to liquidity risk.

The Company is currently evaluating the impact of adopting the amendments on the Company’s consolidated financial statements.

2022 Restatement

2022 Restatement

During the year ended December 31, 2023, the Company identified errors in its accounting for warrants issued in connection with certain private placement financings in 2021. The warrants are convertible for a fixed number of common shares of the Company but have a contingent cashless exercise clause, which results in a classification as a financial liability and measurement at fair value through profit and loss, not equity.

The effects of the restatement on the affected financial statement line items for the prior periods are as follows:

Consolidated statements of financial position extract as of January 1, 2022 - Restatement

	As of December 31,						As of January 1,
	2021 (as reported)			Adjustments			2022 (as restated)
Liabilities
Current
Warrant liabilities		—			63,575			63,575
Total current liabilities		101,178			63,575			164,753
Total liabilities		120,005			63,575			183,580
Shareholders’ equity
Share capital		378,893			(24,186	)		354,707
Contributed surplus		43,704			(17,859	)		25,845
Accumulated deficit		(15	)		(21,530	)		(21,545	)
Total equity		422,582			(63,575	)		359,007
Total liabilities and equity		542,587			—			542,587

Consolidated statements of financial position extract as of December 31, 2022 - Restatement

	As of December 31,						As of December 31,
	2022 (as reported)			Adjustments			2022 (as restated)
Liabilities
Current
Warrant liabilities		—			169			169
Total current liabilities		67,244			169			67,413
Total liabilities		87,531			169			87,700
Shareholders’ equity
Share capital		429,120			(24,186	)		404,934
Contributed surplus		65,512			(17,859	)		47,653
Accumulated deficit		(239,065	)		41,876			(197,189	)
Total equity		255,567			(169	)		255,398
Total liabilities and equity		343,098			—			343,098

Consolidated statements of profit or loss and comprehensive profit or loss extract for the year ended December 31, 2022 - Restatement

	Year ended December 31,
	2022 (as reported)			Adjustments			2022 (as restated)

Operating loss		(284,022	)		—			(284,022	)
Net financial income		(27,560	)		(63,406	)		(90,966	)
Net loss before income taxes		(256,462	)		63,406			(193,056	)
Income tax recovery		(17,412	)		—			(17,412	)
Net loss and total comprehensive loss		(239,050	)		63,406			(175,644	)

Loss per share
Basic and diluted		(1.15	)		0.30			(0.85	)
Weighted average number of common shares outstanding
Basic and diluted		207,776,000			—			207,776,000

Consolidated statements of cash flows extract for the year ended December 31, 2022 - Restatement

	Year ended December 31,
	2022 (as reported)			Adjustments			2022 (as restated)
Cash flows from operating activities
Net loss		(239,050	)		63,406			(175,644	)
Adjustments for:
Net financial income		(27,560	)		(63,406	)		(90,966	)
Net change in cash related to operating activities		36,250			—			36,250

Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Tables)

12 Months Ended

Dec. 31, 2023

Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss [Abstract]

Schedule of Cost of Revenues

Cost of revenues

	Year ended December 31,
	2023		2022
Energy and infrastructure		78,942		56,415
Depreciation and amortization		84,785		72,420
Purchases of electrical components		2,580		1,759
Electrician salaries and payroll taxes		1,561		1,316
		167,868		131,910

Schedule of General and Administrative Expenses

General and administrative expenses

	Year ended December 31,
	2023		2022
Salaries and share-based payments		24,105		30,040
Professional services		7,608		10,051
Insurance, duties and other		5,668		9,370
Travel, motor vehicle and meals		1,018		1,152
Hosting and telecommunications		402		560
Advertising and promotion		491		333
		39,292		51,506

Schedule of Net Financial (Income) Expenses

Net financial expenses (income)

	Year ended December 31,
	Notes	2023			2022 (restated - Note 3e)
Loss (gain) on revaluation of warrants			38,088			(63,406	)
Gain on disposition of marketable securities	a		(12,245	)		(51,649	)
Gain on extinguishment of long-term debt and lease liabilities	b		(12,835	)		—
Interest income			(1,420	)		(456	)
Loss on foreign exchange			7,842			2,945
Interest on credit facility and long-term debt			2,688			12,770
Warrant issuance costs			2,000			—
Provision expense on VAT receivable	c		5,903			6,750
Interest on lease liabilities			1,391			1,451
Other financial (income) expenses			896			629
			32,308			(90,966	)

Share Capital (Details) - Schedule of Outstanding Warrants - Warrants [member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Outstanding Warrants [Line Items]
Number of warrants Outstanding beginning	19,153,000	19,428,000
Weighted average exercise price Outstanding beginning	$ 4.21	$ 4.16
Number of warrants Granted	25,222,000	25,000
Weighted average exercise price Granted	$ 1.18	$ 3.47
Number of warrants Exercised	(9,270,000)
Weighted average exercise price Exercised	$ 1.18
Number of warrants Expired		(300,000)
Weighted average exercise price Expired		$ 1.19
Number of warrants Outstanding ending	35,105,000	19,153,000
Weighted average exercise price Outstanding ending	$ 2.83	$ 4.21

Transactions and Balances with Related Parties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Transactions and Balances with Related Parties [Abstract]
Rent payments		$ 273,000
Payments		0
Trade payables and accrued liabilities		1,466,000
Consulting fees		$ 1,466,000

Asset Retirement Provision (Details) - Schedule of Asset Retirement Provision - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Asset Retirement Provision [Line Items]
Balance as of January 1,	$ 1,979	$ 239
Additions during the period	209	1,701
Accretion expense	214	93
Effect of change in the foreign exchange rate	12	(54)
Effect of change in discount rate	(598)
Balance as of period end	$ 1,816	$ 1,979

Transactions and Balances with Related Parties (Tables)

12 Months Ended

Dec. 31, 2023

Transactions and Balances with Related Parties [Abstract]

Schedule of Balances with Related Parties

The following table details balances payable to related parties:

	As of December 31,		As of December 31,
	2023		2022
Trade payables and accrued liabilities
Directors’ remuneration		112		1,522
Director and senior management incentive plan		1,567		95
		1,679		1,617

Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit and Loss

The transactions described above were incurred in the normal course of operations. These transactions are included in the consolidated statements of profit or loss and comprehensive profit or loss as follows:

	Year ended December 31,
	2023		2022
General and administrative expenses		—		2,733
Net financial expenses		—		70
		—		2,803

Schedule of Compensation of Key Management and Directors

The Company considers its Directors, Chief Officers and Vice Presidents to be key management personnel. The remuneration paid to directors and other members of key management personnel, to the extent that they are not included in the consulting agreements described above are as follows:

	Year ended December 31,
	2023		2022
Short-term benefits		1,520		48
Termination payments		—		1,466
Share-based payments		9,169		19,077
		10,689		20,591

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Current and Deferred Income Tax Expense (Recovery)

Current and deferred income tax expense (recovery)

	Year ended December 31,
	2023			2022
Current tax expense (recovery):
Current year		2,679			(9,030	)
Prior year		252			68
		2,931			(8,962	)

Deferred tax expense (recovery):
Current year		(4,703	)		(8,446	)
Prior year		1,371			(4	)
		(3,332	)		(8,450	)
		(401	)		(17,412	)

Schedule of Effective tax rate

Effective tax rate

	Year ended December 31,
	2023					2022 (restated - Note 3e)
Income tax recovery at statutory rate of 26.5%		(27,676	)	26.5	%		(51,160	)	26.5	%
Increase (decrease) in taxes resulting from:
Foreign tax rate differential		(103	)	0.1	%		1,070		(0.6	)%
Prior year		1,623		(1.6	)%		64		—	%
Non-taxable warrant loss (gain) and other permanent differences		22,096		(21.2	)%		(16,894	)	8.8	%
Deferred tax asset not recognized		3,659		(3.5	)%		49,508		(25.6	)%
		(401	)	0.3	%		(17,412	)	9.1	%

Schedule of Deferred Tax Liability

Movement in deferred tax asset for the years ending December 31, 2023 and 2022, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows:

	Operating losses carried forward			Lease liability			Asset Retirement provision		Financing fees			PPE			Reserves and other			Total
As of January 1, 2022		—			3,141			84		3,751			478			1,288			8,742
Credited to statements of profit or loss		43,713			1,020			42		144			15,855			11,335			72,109
Deferred tax asset derecognized in the statements of profit or loss		(43,713	)		—			—		—			(5,795	)		—			(49,508	)
Deferred tax asset derecognized in the statements of equity		—			—			—		(3,895	)		—			—			(3,895	)
As of December 31, 2022		—			4,161			126		—			10,538			12,623			27,448
Credited to statements of profit or loss		52,743			(141	)		14		3,332			(5,884	)		(6,564	)		43,500
Deferred tax asset derecognized in the statements of profit or loss		(45,377	)		—			—		—			—			—			(45,377	)
Deferred tax asset derecognized in the statements of equity		—			—			—		(3,332	)		—			—			(3,332	)
As of December 31, 2023		7,366			4,020			140		—			4,654			6,059			22,239
Offsetting deferred tax liabilities as of December 31, 2023																			(22,239	)
Net deferred tax assets as of December 31, 2023																			—

Schedule of Deferred Tax Liability

Movement in deferred tax liability for the years ending December 31, 2023 and 2022, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows:

	PPE			ROU Asset			Reserves and other		Total
As of January 1, 2022		9,287			4,010			—		13,297
Charged to statements of profit or loss		12,231			1,920			—		14,151
As of December 31, 2022		21,518			5,930			—		27,448
Credited to statements of profit or loss		(4,164	)		(2,333	)		1,288		(5,209	)
As of December 31, 2023		17,354			3,597			1,288		22,239
Offsetting deferred tax assets as of December 31, 2023										(22,239	)
Net deferred tax liabilities as of December 31, 2023										—

Asset Retirement Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Provision [Line Items]
Lease terms	$ 4,326	$ 3,950
Present value	1,816	$ 1,979
Asset retirement provision	598
Recognized gain	99
Decrease Property, Plant and Equipment [Member]
Asset Retirement Provision [Line Items]
Related property, plant and equipment	$ 499
Bottom of range [member]
Asset Retirement Provision [Line Items]
Percentage of annual discount rates	7.00%	7.00%
Top of range [member]
Asset Retirement Provision [Line Items]
Percentage of annual discount rates	17.00%	10.00%

Digital Assets

12 Months Ended

Dec. 31, 2023

Digital Assets [Abstract]

DIGITAL ASSETS

NOTE 9:

DIGITAL ASSETS

BTC transactions and the corresponding values for the years ended December 31, 2023 and 2022 were as follows:

	Year ended December 31,
	2023						2022
	Quantity			Value			Quantity			Value
Balance of digital assets including digital assets pledged as collateral as of January 1,		405			6,705			3,301			152,856
BTC earned*		4,928			141,306			5,167			138,985
BTC purchased		—			—			1,000			43,237
BTC exchanged for cash and services		(4,529	)		(129,309	)		(9,063	)		(179,729	)
Realized gain (loss) on disposition of digital assets**		—			7,713			—			(150,810	)
Change in unrealized gain on revaluation of digital assets**		—			7,556			—			2,166
Balance of digital assets including digital assets pledged as collateral as of December 31,		804			33,971			405			6,705
Less digital assets pledged as collateral as of December 31,***		(50	)		(2,101	)		(125	)		(2,070	)
Balance of digital assets excluding digital assets pledged as collateral as of December 31,		754			31,870			280			4,635

* Management estimates the fair value of BTC earned on a daily basis as the quantity of cryptocurrency received multiplied by the price quoted on Coinbase on the day it was received. Management considers the prices quoted on Coinbase to be a level 2 input under IFRS 13, Fair Value Measurement.

** A portion of the realized gain on disposition of digital assets and the change in unrealized gain on revaluation of digital assets is presented in other comprehensive income after reversing previously recorded revaluation loss on digital assets in the statement of profit or loss. For the year ended December 31, 2023, a gain of $9,242, net of $3,332 of deferred income tax expense, was presented in other comprehensive income (year ended December 31, 2022: nil).

*** Refer to Note 17 for details of the Company’s long-term debt and BTC pledged as collateral.

Digital Assets (Tables)

12 Months Ended

Dec. 31, 2023

Digital Assets [Abstract]

Schedule of Bitcoin Transactions and the Corresponding Values

BTC transactions and the corresponding values for the years ended December 31, 2023 and 2022 were as follows:

	Year ended December 31,
	2023						2022
	Quantity			Value			Quantity			Value
Balance of digital assets including digital assets pledged as collateral as of January 1,		405			6,705			3,301			152,856
BTC earned*		4,928			141,306			5,167			138,985
BTC purchased		—			—			1,000			43,237
BTC exchanged for cash and services		(4,529	)		(129,309	)		(9,063	)		(179,729	)
Realized gain (loss) on disposition of digital assets**		—			7,713			—			(150,810	)
Change in unrealized gain on revaluation of digital assets**		—			7,556			—			2,166
Balance of digital assets including digital assets pledged as collateral as of December 31,		804			33,971			405			6,705
Less digital assets pledged as collateral as of December 31,***		(50	)		(2,101	)		(125	)		(2,070	)
Balance of digital assets excluding digital assets pledged as collateral as of December 31,		754			31,870			280			4,635

*** Refer to Note 17 for details of the Company’s long-term debt and BTC pledged as collateral.

Trade Payables and Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Trade Payables and Accrued Liabilities [Abstract]

TRADE PAYABLES AND ACCRUED LIABILITIES

NOTE 16:

TRADE PAYABLES AND ACCRUED LIABILITIES

	As of December 31,		As of December 31,
	2023		2022
Trade accounts payable and accrued liabilities		9,077		12,897
Government remittances		11,662		7,644
		20,739		20,541

Liquidity

12 Months Ended

Dec. 31, 2023

Liquidity [Abstract]

LIQUIDITY

NOTE 2:

LIQUIDITY

Bitfarms is primarily engaged in the cryptocurrency Mining industry, a highly volatile industry subject to significant inherent risk. Declines in the market prices of cryptocurrencies, an increase in the difficulty of BTC mining, delays in the delivery of Mining equipment, changes in the regulatory environment and adverse changes in other inherent risks can significantly and negatively impact the Company’s operations and cash flows and its ability to maintain sufficient liquidity to meet its financial obligations. Adverse changes to the factors mentioned above have impacted the recoverability of the Company’s digital assets and property, plant and equipment, resulting in impairment losses being recorded.

The Company’s current operating budget and future estimated cash flows indicate that the Company will generate positive cash flow in excess of the Company’s cash commitments within the twelve-month period. These analyses are based on BTC market factors including price, difficulty and network hashrate, for the twelve-month period following the date these consolidated financial statements were authorized for issuance.

A BTC Halving is scheduled to occur once every 210,000 blocks, or roughly every four years, until the total amount of BTC rewards issued reaches 21 million, which is expected to occur around 2140. The next BTC Halving is expected to occur in April 2024, at which time BTC block rewards will decrease from 6.25 BTC per block to 3.125 BTC per block. Once 21 million BTC are generated on or about the year 2140, the network will stop producing more BTC, and the industry will then need to rely on transaction fees and/or other sources of revenue. While BTC prices have had a history of significant fluctuations around BTC Halving events, there is no guarantee that the price change will be favorable or would compensate for the reduction in Mining rewards and the compensation from Mining Pools.

At current BTC prices, the Company’s existing cash resources and the proceeds from any sale of its BTC treasury and BTC earned may not be sufficient to fund capital investments to support its growth objectives. If the proceeds from the sale of BTC are not sufficient, the Company would be required to raise additional funds from external sources to meet these requirements. There is no assurance that the Company will be able to raise such additional funds on acceptable terms, if at all.

If the Company raises additional funds by issuing securities, existing shareholders may be diluted. If the Company is unable to obtain financing from external sources or issuing securities, or if funds from operations and proceeds from any sale of the Company’s BTC holdings are negatively impacted by the BTC price, the Company may have difficulty meeting its payment obligations.

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Long-Term Debt [Abstract]

Schedule of Long-Term Debt

	As of December 31,			As of December 31,
	2023			2022
Equipment financing		4,022			47,020
Vehicle loans		—			127
Total long-term debt		4,022			47,147
Less current portion of long-term debt		(4,022	)		(43,054	)
Non-current portion of long-term debt		—			4,093

Schedule of Movement in Long-Term Debt

Movement in long-term debt is as follows:

	As of December 31,			As of December 31
	2023			2022
Balance as of January 1,		47,147			11,167
Issuance of long-term debt		—			67,201
Payments		(33,233	)		(38,532	)
Gain on extinguishment of long-term debt		(12,580	)		—
Interest on long-term debt		2,688			7,311
Balance as of period end		4,022			47,147

Schedule of Company’s Equipment Financing Consisted only of the NYDIG Loan

As of December 31, 2023, the Company’s equipment financing consisted only of the NYDIG Loan. The NYDIG Loan balance and the net book value (“NBV”) of its related collateral, as of December 31, 2023, are as follows:

		Maturity date		Stated rate				Effective rate*				Monthly repayment ($)				Long-term debt balance ($)				NBV of Collateral ($)				Collateral**
NYDIG Loan		February 2024			12.0	%			14.4	%			2,043				4,022				21,840				10,395

*Represents the implied interest rate after capitalizing financing and origination fees.

**Represents the quantity of WhatsMiners received in connection with the equipment financing and pledged as collateral for the related loan.

Share-Based Payments (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 22, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Share-Based Payments [Line Items]
Accelerated amount (in Dollars)		$ 914
Stock option grants to purchase		13,156,000
Exercised period		5 years
Weighted average contractual life of the stock option		4 years 1 month 6 days	4 years
Granted		475,000	200,000
Weighted average contractual life of the stock option		1 year 7 months 6 days	1 year 4 months 24 days
Board of Directors [Member]
Share-Based Payments [Line Items]
Stock option grants to purchase			9,592,000
Granted	475,000		200,000
Vest grant percentage	25.00%
Additional vest grant percentage	25.00%
Weighted average contractual life of the stock option	6 months
Grant per unit (in Dollars per share)	$ 2.89		$ 1.91
Share options [member]
Share-Based Payments [Line Items]
Outstanding options exercisable				10,535,000

Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss

12 Months Ended

Dec. 31, 2023

Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss [Abstract]

ADDITIONAL DETAILS TO THE STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE PROFIT OR LOSS

NOTE 28: ADDITIONAL DETAILS TO THE STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE PROFIT OR LOSS

Cost of revenues

	Year ended December 31,
	2023		2022
Energy and infrastructure		78,942		56,415
Depreciation and amortization		84,785		72,420
Purchases of electrical components		2,580		1,759
Electrician salaries and payroll taxes		1,561		1,316
		167,868		131,910

General and administrative expenses

	Year ended December 31,
	2023		2022
Salaries and share-based payments		24,105		30,040
Professional services		7,608		10,051
Insurance, duties and other		5,668		9,370
Travel, motor vehicle and meals		1,018		1,152
Hosting and telecommunications		402		560
Advertising and promotion		491		333
		39,292		51,506

Net financial expenses (income)

	Year ended December 31,
	Notes	2023			2022 (restated - Note 3e)
Loss (gain) on revaluation of warrants			38,088			(63,406	)
Gain on disposition of marketable securities	a		(12,245	)		(51,649	)
Gain on extinguishment of long-term debt and lease liabilities	b		(12,835	)		—
Interest income			(1,420	)		(456	)
Loss on foreign exchange			7,842			2,945
Interest on credit facility and long-term debt			2,688			12,770
Warrant issuance costs			2,000			—
Provision expense on VAT receivable	c		5,903			6,750
Interest on lease liabilities			1,391			1,451
Other financial (income) expenses			896			629
			32,308			(90,966	)

Gain on disposition of marketable securities

During the year ended December 31, 2023 and 2022, the Company funded its expansion in Argentina through the acquisition of marketable securities and the in-kind contribution of those securities to the Company’s subsidiary in Argentina. The subsequent disposition of those marketable securities in exchange for Argentine Pesos gave rise to a gain as the amount received in ARS exceeds the amount of ARS the Company would have received from a direct foreign currency exchange.

Gain on extinguishment of the BlockFi loan and Reliz lease liability

In February 2023, the Company negotiated a settlement of its loan agreement with BlockFi with a then outstanding debt balance of $20,330 for a payment of $7,750. As a result, a gain on extinguishment of long-term debt was recognized in the amount of $12,580 during the year ended December 31, 2023.

In February 2023, the Company modified its lease agreement with Reliz Ltd. in order to settle its outstanding lease liability of $373 for a payment of $118. As a result, a gain on extinguishment of lease liabilities was recognized in the amount of $255 during the year ended December 31, 2023.

Provision expense on VAT receivable

Due to the political and economic uncertainties in Argentina, the Company is uncertain when, or if at all, the Argentine VAT receivable will be settled. As a result, the Company has recorded a provision to reduce the Argentine VAT receivable to nil. The provision is classified within Net financial expenses (income) during the year ended December 31, 2023. Previously, the Argentine VAT not expected to be settled within the next 12 months was classified as a long-term receivable in Note 15 with the short-term portion included in sales tax receivable in Note 8.

Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss (Parentheticals)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Previously stated [member]
Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss (Parentheticals) [Line Items]
Diluted \| $ / shares	$ (1.15)
Diluted \| shares	207,776,000
Adjustments [Member]
Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss (Parentheticals) [Line Items]
Diluted \| $ / shares	$ 0.30
Diluted \| shares
As restated [Member]
Basis of Presentation and Material Accounting Policy Information (Details) - Schedule of Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss (Parentheticals) [Line Items]
Diluted \| $ / shares	$ (0.85)
Diluted \| shares	207,776,000

Additional Details to the Statements of Cash Flows (Details) - Schedule of Additional Details to the Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in working capital components:
(Increase) decrease in trade receivables, net	$ (13)	$ 429
Increase in other current assets	987	(4,563)
Decrease in deposits	420	188
Increase (decrease) in trade payables and accrued liabilities	(315)	94
Increase (decrease) in taxes payable	156	(126)
Total	1,235	(3,978)
Significant non-cash transactions:
Issuance of common shares in connection with acquisitions of assets	1,354
Addition of ROU assets, property, plant and equipment and related lease liabilities	1,553	11,354
Purchase of property, plant and equipment financed by short-term credit	1,365	1,601
Equipment prepayments realized as additions to property, plant and equipment	7,372	54,135
Deferred tax expense related to equity issuance costs		$ (3,895)

Basis of Presentation and Material Accounting Policy Information

12 Months Ended

Dec. 31, 2023

Basis of Presentation and Material Accounting Policy Information [Abstract]

BASIS OF PRESENTATION AND MATERIAL ACCOUNTING POLICY INFORMATION

NOTE 3:

BASIS OF PRESENTATION AND MATERIAL ACCOUNTING POLICY INFORMATION

The following accounting policies have been applied consistently in the consolidated financial statements for all periods presented unless otherwise stated.

Basis of presentation of the financial statements

Material accounting policy information

Presentation of profit and loss

The Company has elected to present the profit or loss items using the function of expense method.

The operating cycle

Consolidated financial statements

Goodwill

Foreign currency translation

Functional currency and presentation currency

ii.

Transactions, assets and liabilities in foreign currency

Revenue recognition

Revenues from sale of computational power used for hashing calculations

ii.

Revenue from electrical services

Digital assets

Income tax

Current taxes

ii.

Deferred taxes

Leases

ROU assets

Asset Class	Depreciation Method	Depreciation period
Leased premises	Straight-line	4-10 years
Vehicles and other	Straight-line	3-5 years
BVVE and Electrical components	Sum of years	5 years

ii.

Lease liabilities

iii.

Short-term leases and leases of low value assets

Assets held for sale

Property, plant and equipment

Property, plant and equipment are depreciated as follows:

Asset Class	Depreciation Method	Depreciation period
BVVE	Sum of years	5 years
Mineral assets *	N/A	N/A
Electrical equipment	Sum of years	5 years
Leasehold improvements	Straight-line	Shorter of the lease term and the expected life of the improvement
Buildings	Declining balance	4%
Vehicles	Declining balance	30%

* From the acquisition of mineral assets in 2018 until their disposal during the year ended December 31, 2023, there has been no production.

The sum of years depreciation method is calculated as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Rate	5/15	4/15	3/15	2/15	1/15
Percentage	33.33%	26.67%	20.00%	13.33%	6.67%

Intangible assets

Intangible assets are amortized as follows:

Asset Class	Amortization Method	Amortization period
Systems software	Sum of years	5 years
Access rights to electricity	Straight-line	Lease term of the facility or the access rights period
Favorable lease	Straight-line	Lease term

Systems software

The sum of years amortization method for systems software is calculated as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Rate	5/15	4/15	3/15	2/15	1/15
Percentage	33.33%	26.67%	20.00%	13.33%	6.67%

ii.

Access rights to electricity

The Company’s access rights to electricity were obtained from the acquisitions of assets described in Note 5.

Segment reporting

Impairment of non-financial assets

Financial instruments

Financial assets

Initial recognition and measurement

Subsequent measurement

Impairment

The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

ii.

Financial liabilities

Initial recognition and measurement

Subsequent measurement

iii.

Derecognition of financial assets

iv.

Derecognition of financial liabilities

Cash flow hedges

Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Level		Definition
Level 1		Unadjusted quoted prices in an active market of identical assets and liabilities
Level 2		Non-quoted prices included in Level 1 that are either directly or indirectly observable
Level 3		Data that is not based on observable market information, such as valuation techniques without the use of observable market data