It seems odd to me that the note on the cash flow statement for payment on the Sierras says:
"As per sales contract"
Cash flow is always done from actual payments. Why did the accountant need to refer to the contract rather than either Bitcoin transactions or dollar payment receipts?
Because of BTC/USD has gone up from moment of IPO
In which case you show the ACTUAL BTC paid and the exchange rate at the time.
As was done with the Cointerra investment, where a Bitpay invoice was used.
Was the Hashfast contract actually paid, or is there still outstanding amounts? As you note BTC/USD has changed a lot since the IPO. If BTC were held, they represent a significant gain for INVESTORS, not for a back room deal where Icedrill backdates a sale to themselves.