Property, Plant, and Equipment and Other Assets

9 Months Ended

Sep. 30, 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
	September 30, 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		(748	)		(829	)
Property and equipment, net	$	975		$	1,098

The Company recorded depreciation expense of $68 and $192 for the three and nine months ended September 30, 2023, respectively. The Company recorded depreciation expense of $50 and $147 for the three and nine months ended September 30, 2022, respectively. For the three and nine months ended September 30, 2023, respectively, gains on sale of property and equipment of $0 and $70, 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, 2023, we exchanged all our S17 miners which were fully depreciated for 35 S19 miners, which resulted in a gain of $0 and $70, respectively.

Other Assets consisted of the following:

	As of
	September 30, 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 nine months ended September 30, 2023.