PROPERTY PLANT EQUIPMENT MINING MACHINES

3 Months Ended

Sep. 30, 2024

PROPERTY PLANT EQUIPMENT MINING MACHINES

PROPERTY PLANT & EQUIPMENT MINING MACHINES

NOTE 6. PROPERTY PLANT & EQUIPMENT MINING MACHINES

On August 24, 2022, the Company entered into a contract to purchase 20 Bitmain XJ S19 Pro 110 TH and their installation at Simple Mining in Iowa.  During the 2024 fiscal year, the Company fully depreciated all mining equipment.

Depreciation expenses amounted to $14,948 for the fiscal year ended June 30, 2024 and there was no depreciation expense in the 3 months ended September 30, 2024, as the miners were fully depreciated during the fiscal year ended June 30, 2024. On June 30, 2024, and September 30, 2024, the balances were as follows:

	Estimated Life in years		September 30, 2024		June 30, 2024
Mining equipment		1	$	533,500	$	533,500
Less: Accumulated Depreciation				533,500		533,500
Fixed assets, net			$	-	$	-