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PROPERTY AND EQUIPMENT | 3 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT The components of property and equipment as of March 31, 2023 and December 31, 2022 are: SCHEDULE OF COMPONENTS OF PROPERTY AND EQUIPMENT
(in thousands, except useful life) |  | Useful life (Years) |  |  | March 31, 2023 |  |  | December 31, 2022 |
Mining rigs |  |  | 3 |  |  | $ | 326,951 |  |  | $ | 116,634 |
Containers |  |  | 10 |  |  |  | 3,112 |  |  |  | 1,614 |
Website and leasehold improvements |  |  | 7 |  |  |  | 206 |  |  |  | 206 |
Construction in progress |  |  | N/A |  |  |  | 419,003 |  |  |  | 171,194 |
Gross property, equipment |  |  |  |  |  |  | 749,272 |  |  |  | 289,648 |
Less: Accumulated depreciation |  |  |  |  |  |  | (34,356 | ) |  |  | (16,622 | )
Property and equipment, net |  |  |  |  |  | $ | 714,916 |  |  | $ | 273,026 |
The Company’s depreciation expense related to property and equipment for the three months ended March 31, 2023 and 2022 was $17,733 thousand and $13,877 thousand, respectively.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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