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Mining Equipment, Net | 6 Months Ended
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Jun. 30, 2024
Mining Equipment, Net [Abstract] |
MINING EQUIPMENT, NET | NOTE 5 – MINING EQUIPMENT, NET Mining equipment consisted of 8,825 and 8,532 units of bitcoin mining machines as of June 30, 2024, and December 31, 2023, respectively. The following table summarizes the carrying amount of the Company’s mining equipment, as of:
|  | June 30, 2024 |  |  | December 31, 2023 |
Mining equipment |  |  |  |  |  |
Balance, beginning of year |  | $ | 15,978,000 |  |  | $ | 47,599,000 |
Additions |  |  | 1,574,000 |  |  |  | 1,894,000 |
Disposals |  |  | (443,000 | ) |  |  | (105,000 | )
Impairment |  |  | - |  |  |  | (8,335,000 | )
Revaluation from impairment |  |  | - |  |  |  | (25,075,000 | )
Ending balance |  | $ | 17,109,000 |  |  | $ | 15,978,000 |
Accumulated depreciation |  |  |  |  |  |  |  |
Balance, beginning of year |  | $ | 3,062,000 |  |  | $ | 13,231,000 |
Additions |  |  | 6,539,000 |  |  |  | 14,958,000 |
Disposals |  |  | (126,000 | ) |  |  | (51,000 | )
Revaluation from impairment |  |  | - |  |  |  | (25,076,000 | )
Ending balance |  | $ | 9,475,000 |  |  | $ | 3,062,000 |
Net carrying amount |  | $ | 7,634,000 |  |  | $ | 12,916,000 |

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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