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Property and Equipment
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 7. Property and equipment

 

Property and equipment consisted of the following:

 

    June 30, 2017     December 31, 2016  
Computer hardware and software   $ 10     $ 10  
Bitcoin machines     1,785       708  
      1,795       718  
Less: Accumulated depreciation     (313 )     (116 )
Property and equipment, net     $ 1,482     $ 602  

 

The Company recorded depreciation expense of $97 and $5 for the three months ended June 30, 2017, and 2016, respectively. The Company recorded depreciation expense of $196 and $11 for the six months ended June 30, 2017, and 2016, respectively.

 

During the second quarter of 2017, the Company sold bitcoin machines with a book value of $262 for gross proceeds of $310 and recorded a gain on sale of $48.