Property, Plant, and Equipment and Other Assets

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment and Other Assets

Note 4. Property, Plant, and Equipment and Other Assets

Property and equipment consisted of the following:

	As of
	September 30, 2021			December 31, 2020
Land	$	55		$	57
Computer hardware and software		10			10
Bitcoin mining machines		1,023			1,206
Infrastructure		946			905
Containers		403			550
Leasehold improvements		4			4
Property and equipment, gross		2,441			2,732
Less: Accumulated depreciation		(1,238	)		(860	)
Property and equipment, net	$	1,203		$	1,872

The Company recorded depreciation expense of $169 and $548 for the three and nine months ended September 30, 2021, respectively. The Company recorded depreciation expense of $244 and $902 for the three and nine months ended September 30, 2020, respectively. For the three and nine months ended September 30, 2021, gains on sale of property and equipment of $254 and $264, respectively were recorded as other non-operating expenses relating to the sale and disposition of Antminer S17 Pro and S9 Bitcoin miners and a container.

Other Assets consisted of the following:

	As of
	September 30, 2021		December 31, 2020
Security deposits	$	3	$	123
Other Assets	$	3	$	123

The Company has paid $120 in a security deposit related to its electrical contract (see Note 9) and $3 related to its office lease in Raleigh, NC. During the current year, the $120 security deposit was determined to be short-term in nature and is now included in “Prepaid expenses and other current assets”.