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

NOTE 6 – PROPERTY AND EQUIPMENT

 

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

 

SCHEDULE OF COMPONENTS OF PROPERTY AND EQUIPMENT

   Useful life (Years)   September 30, 2023   December 31, 2022 
Mining rigs   3   $679,196   $116,634 
Containers   10    5,611    1,614 
Other   7    240    206 
Construction in progress   —    181,790    171,194 
Total gross property, equipment        866,837    289,648 
Less: Accumulated depreciation        (125,178)   (16,622)
Property and equipment, net       $741,659   $273,026 

 

The Company’s depreciation expense related to property and equipment for the three months ended September 30, 2023 and 2022 was $53,548 and $26,295, respectively. The Company’s depreciation expense related to property and equipment for the nine months ended September 30, 2023 and 2022 was $108,556 and $64,882, respectively.