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Property, plant and equipment | 12 Months Ended
--- | ---
Jun. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract] |
Property, plant and equipment | Note 15. Property, plant and equipment
| Consolidated |
| 30 June 2024 |  | 30 June 2023 |
| US$’000 |  | US$’000 |
Land - at cost | 3,601 |  |  | 1,803 |  |
Buildings - at cost | 215,542 |  |  | 153,100 |  |
Less: Accumulated depreciation | (13,237) |  |  | (5,042) |  |
Total buildings | 202,305 |  |  | 148,058 |  |
Plant and equipment - at cost | 4,856 |  |  | 4,145 |  |
Less: Accumulated depreciation | (1,142) |  |  | (712) |  |
Total plant and equipment | 3,714 |  |  | 3,433 |  |
Mining hardware - at cost | 177,766 |  |  | 115,024 |  |
Less: Accumulated depreciation | (54,892) |  |  | (15,709) |  |
Less: Accumulated impairment | (25,605) |  |  | (25,934) |  |
Total mining hardware | 97,269 |  |  | 73,381 |  |
HPC hardware - at cost | 33,315 |  |  | - |  |
Less: Accumulated depreciation | (1,779) |  |  | - |  |
Total HPC hardware | 31,536 |  |  | - |  |
Development assets - at cost | 102,946 |  |  | 14,427 |  |
Total property, plant and equipment | 441,371 |  |  | 241,102 |  |
Details of impairment expenses recorded during the year ended 30 June 2023 is set out in note 17. Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below:
| Land |  | Buildings |  | Plant and equipment |  | Mining hardware |  | HPC hardware |  | Development assets |  | Total
Consolidated | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Balance at 1 July 2022 | 1,836 |  |  | 13,082 |  |  | 3,200 |  |  | 163,147 |  |  | - |  |  | 66,297 |  |  | 247,562 |
Additions | - |  |  | 22,467 |  |  | 673 |  |  | 163,663 |  |  | - |  |  | 67,866 |  |  | 254,669 |
Deconsolidation of subsidiaries | - |  |  | - |  |  | - |  |  | (90,054) |  |  | - |  |  | - |  |  | (90,054) |
Disposals | (6) |  |  | - |  |  | - |  |  | (39,046) |  |  | - |  |  | - |  |  | (39,052) |
Exchange differences | (27) |  |  | 2,852 |  |  | (93) |  |  | (7,826) |  |  | - |  |  | (4,685) |  |  | (9,779) |
Impairment of assets | - |  |  | - |  |  | - |  |  | (90,524) |  |  | - |  |  | (1,084) |  |  | (91,608) |
Transfers in/(out) | - |  |  | 113,967 |  |  | - |  |  | - |  |  | - |  |  | (113,967) |  |  | - |
Depreciation expense (note 7) | - |  |  | (4,310) |  |  | (347) |  |  | (25,979) |  |  | - |  |  | - |  |  | (30,636) |
Balance at 30 June 2023 | 1,803 |  |  | 148,058 |  |  | 3,433 |  |  | 73,381 |  |  | - |  |  | 14,427 |  |  | 241,102 |
Additions | 1,817 |  |  | 3,288 |  |  | 876 |  |  | 65,291 |  |  | 33,685 |  |  | 150,408 |  |  | 255,365 |
Disposals | - |  |  | - |  |  | (35) |  |  | (6) |  |  | - |  |  | (5) |  |  | (46) |
Exchange differences | (19) |  |  | (2,706) |  |  | (104) |  |  | (1,595) |  |  | (369) |  |  | 252 |  |  | (4,541) |
Reversal of impairment | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 108 |  |  | 108 |
Assets written off | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (202) |  |  | (202) |
Transfers in/(out) | - |  |  | 62,042 |  |  | - |  |  | - |  |  |  |  | (62,042) |  |  | - |
Depreciation expense (note 7) | - |  |  | (8,377) |  |  | (456) |  |  | (39,802) |  |  | (1,780) |  |  | - |  |  | (50,415) |
Balance at 30 June 2024 | 3,601 |  |  | 202,305 |  |  | 3,714 |  |  | 97,269 |  |  | 31,536 |  |  | 102,946 |  |  | 441,371 |
Depreciation of mining hardware and HPC hardware commences once units are installed onsite and available for use. Development assets include costs related to the development of data center infrastructure at Childress, Texas along with other early-stage development costs. Depreciation will commence on the development assets at Childress as each phase of the underlying infrastructure becomes available for use. Change in estimates Following the announcement made in May 2024, the Group intends to grow to 30 EH/s operating capacity by 31 December 2024, therefore planning to renew its current Bitcoin mining fleet to improve both hashrate and efficiency. As such, the Group intends to replace older miners consisting of the S19j Pros with the newer Bitmain S21 Pros, which resulted in changes in the expected usage of the S19j Pros. The S19j Pros which were previously intended to be used for four years, are now expected to remain active until 1 October 2024. As a result, the expected useful life of the S19j Pros decreased, and their estimated residual value is now expected to equal the secondary market price upon selling date which is expected to be approximately $16,770,000. The effect of these changes on actual and expected depreciation expense was as follows.
In $'000 | 30 June 2024 | 30 June 2025 | 30 June 2026 | 30 June 2027
Increase / (decrease) in depreciation expenses | 11,568 | 1,712 | (21,037) | (8,818)

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