ADVANCES TO VENDORS AND DEPOSITS	3 Months Ended
Mar. 31, 2023
Advances To Vendors And Deposits
ADVANCES TO VENDORS AND DEPOSITS	NOTE 4 – ADVANCES TO VENDORS AND DEPOSITS The Company contracts with bitcoin mining equipment manufacturers in procuring equipment necessary for the operation of its bitcoin mining operations. A typical agreement calls for a certain percentage of the total order to be paid in advance at specific intervals, usually within several days of execution of a specific contract and periodically thereafter with final payments due prior to each shipment date. The Company accounts for these payments as “Advances to vendors” on the consolidated condensed balance sheet. As of March 31, 2023 and December 31, 2022, such advances totaled approximately $57,511 thousand and $488,299 thousand, respectively. In addition, the Company contracts with other service providers for the hosting of its equipment and operational support in data centers where the Company’s equipment is deployed. These arrangements also call for advance payments to be made to vendors in conjunction with the contractual obligations associated with these services. We classify these payments as “Deposits” on the consolidated condensed balance sheet.

ADVANCES TO VENDORS AND DEPOSITS

3 Months Ended

Mar. 31, 2023

NOTE 4 – ADVANCES TO VENDORS AND DEPOSITS

The Company contracts with bitcoin mining equipment manufacturers in procuring equipment necessary for the operation of its bitcoin mining operations. A typical agreement calls for a certain percentage of the total order to be paid in advance at specific intervals, usually within several days of execution of a specific contract and periodically thereafter with final payments due prior to each shipment date. The Company accounts for these payments as “Advances to vendors” on the consolidated condensed balance sheet.

As of March 31, 2023 and December 31, 2022, such advances totaled approximately $57,511 thousand and $488,299 thousand, respectively.

In addition, the Company contracts with other service providers for the hosting of its equipment and operational support in data centers where the Company’s equipment is deployed. These arrangements also call for advance payments to be made to vendors in conjunction with the contractual obligations associated with these services. We classify these payments as “Deposits” on the consolidated condensed balance sheet.