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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 7 – PROPERTY AND EQUIPMENT

 

The components of property and equipment as of June 30, 2023 and December 31, 2022 are:

 

   Useful life
(Years)		   June 30,
2023		   December 31,
2022		 
Mining rigs   3   $535,932   $116,634 
Containers   10    6,206    1,614 
Other   7    216    206 
Construction in progress   —    313,141    171,194 
Total gross property, equipment        855,495    289,648 
Less: Accumulated depreciation        (71,630)   (16,622)
Property and equipment, net       $783,865   $273,026 

 

The Company’s depreciation expense related to property and equipment for the three months ended June 30, 2023 and 2022 was $37,275 and $24,710, respectively. The Company’s depreciation expense related to property and equipment for the six months ended June 30, 2023 and 2022 was $55,008 and $38,587, respectively.