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PROPERTY AND EQUIPMENT | 3 Months Ended
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Nov. 30, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 4 – PROPERTY AND EQUIPMENT The following table sets forth the components of our property and equipment at November 30, 2024 and August 31, 2024:
Schedule of property and equipment |  |  |  |  |  |  |  |  |  |  |  |
|  | November 30, 2024 |  | August 31, 2024
|  | Cost |  | Accumulated Depreciation |  | Net Book Value |  | Cost |  | Accumulated Depreciation |  | Net Book Value
Equipment |  | $ | 3,094,076 |  |  | $ | (1,524,957 | ) |  | $ | 1,569,119 |  |  | $ | 3,094,076 |  |  | $ | (1,394,332 | ) |  | $ | 1,699,744 |
Equipment not in service |  |  | 4,124,565 |  |  |  | – |  |  |  | 4,124,565 |  |  |  | 3,071,565 |  |  |  | – |  |  |  | 3,071,565 |
Total fixed assets |  | $ | 7,218,641 |  |  | $ | (1,524,957 | ) |  | $ | 5,693,684 |  |  | $ | 6,165,641 |  |  | $ | (1,394,332 | ) |  | $ | 4,771,309 |
Equipment not in service as of November 30, 2024 was comprised of the following:
Schedule of equipment not in service |  |
Transformers |  | $ | 1,838,760 |
Immersion containers |  |  | 1,250,805 |
ASIC miners |  |  | 1,035,000 |
Total |  | $ | 4,124,565 |
As of November 30, 2024, the equipment not in service was solely comprised of 4 immersion containers, immersion fluid, 15 transformers, and 3,000 ASIC miners. Equipment not in service at November 30, 2024 included 3,000 ASIC miners that were purchased for $1,035,000 on November 14, 2024, but had not been installed as of November 30, 2024. For the three months ended November 30, 2024 and 2023, we recorded $130,625 and $222,530, respectively, in depreciation expense.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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