Property and Equipment and Other Assets

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment and Other Assets

Note 5. Property and Equipment and Other Assets

Property and equipment consisted of the following:

	As of
	December 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		(816	)		(829	)
Property and equipment, net	$	907		$	1,098

The Company recorded depreciation expense of $260 and $196 for the years ended December 31, 2023 and 2022, respectively. For the years ended December 31, 2023 and 2022, the Company recorded gains on sale of property and equipment of $70 and $0, respectively. For the year ended December 31, 2022, the Company recorded a loss of $4 resulting from the abandonment of certain leasehold improvements.

Other assets consisted of the following:

	As of
	December 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 year ended December 31, 2023.

MGT CAPITAL INVESTMENTS, INC.

NOTES TO THE FINANCIAL STATEMENTS

(Dollars in thousands, except share and per–share amounts)