Property, Plant, and Equipment and Other Assets

3 Months Ended

Mar. 31, 2023

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
	March 31, 2023			December 31, 2022
Land	$	55		$	55
Computer hardware and software		10			10
Bitcoin mining machines		70			274
Infrastructure		1,185			1,185
Containers		403			403
Property and equipment, gross		1,723			1,927
Less: Accumulated depreciation		(610	)		(829	)
Property and equipment, net	$	1,113		$	1,098

The Company recorded depreciation expense of $56 and $48 for the three months ended March 31, 2023 and 2022, respectively. For the three months ended March 31, 2023 and 2022, respectively, gains on sale of property and equipment of $70 and $0, respectively, were recorded as other non-operating income. For the three months ended March 31, 2023, we exchanged all our S17 miners which were fully depreciated for 35 S19 miners, which resulted in a gain of $70.

Other Assets consisted of the following:

	As of
	March 31, 2023		December 31, 2022
Security deposits	$	-	$	3
Other Assets	$	-	$	3

The Company paid $3 related to its office lease in Raleigh, NC which was returned to us in the three months ended March 31, 2023.