Property, Plant, and Equipment and Other Assets

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment and Other Assets

Note 5. Property, Plant, and Equipment and Other Assets

Property and equipment consisted of the following:

	As of
	September 30, 2022			December 31, 2021
Land	$	55		$	55
Computer hardware and software		10			10
Bitcoin mining machines		798			910
Infrastructure		1,185			1,117
Containers		403			403
Leasehold improvements		4			4
Property and equipment, gross		2,455			2,499
Less: Accumulated depreciation		(1,304	)		(1,270	)
Property and equipment, net	$	1,151		$	1,229

The Company recorded depreciation expense of $50 and $147 for the three and nine months ended September 30, 2022, respectively. The Company recorded depreciation expense of $169 and $548 for the three and nine months ended September 30, 2021, 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 income. There were no sales of equipment in the nine month period ended September 30, 2022. For the three and nine months ended September 30, 2022 we disposed of a total of 50 S17 miners which were fully depreciated.

Other Assets consisted of the following:

	As of
	September 30, 2022		December 31, 2021
Security deposits	$	3	$	3
Interest receivable		3		-
Other Assets	$	6	$	3

The Company has paid $3 as a security deposit for its office lease in Raleigh, NC.