Deposits on Equipment

3 Months Ended

Mar. 31, 2023

Disclosure Deposits On Equipment [Abstract]

NOTE 6. DEPOSITS ON EQUIPMENT

In November and December 2022, the Company agreed to purchase 5,000 and 2,200, respectively, S19j Pro miners from Bitmain. The Company utilized accumulated Bitmain credits and coupons for the majority of the purchase price for these miners and has no further payments due in respect of these orders. See information regarding the quantity of Bitmain miners received pursuant to these agreements during the three months ended March 31, 2023 in Note 5, Property and Equipment.

The open purchase agreement commitments, deposits paid and expected delivery timing are summarized below as of March 31, 2023 (in thousands):


Vendor	Agreement Dates	Open Purchase Commitment		Deposits Paid		Expected Shipping for Open Purchase Commitments
Bitmain (1)	November and December 2022	$	127	$	127	April 2023
Other vendors	Various		1,016		1,016
Total		$	1,143	$	1,143

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(1) Pursuant to the Company’s agreement with Bitmain, the Company is responsible for all logistics costs related to transportation, packaging for transportation and insurance related to the delivery of the miners.