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Cryptocurrencies | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |  |
Cryptocurrencies | 5. Cryptocurrencies The following table presents additional information about cryptocurrencies as follows:
|  | Six months ended June 30, 2024 |  |  | Six months ended June 30, 2023 |
Beginning balance |  | $ | 142 |  |  | $ | 51 |
Cumulative effect of change in accounting principle |  | $ | 3 |  |  | $ | — |
Cryptocurrencies received from mining |  |  | 5,475 |  |  |  | 3,644 |
Mining services revenue |  |  | 458 |  |  |  | 529 |
Mining pool operating fees |  |  | (15 | ) |  |  | — |
Proceeds from sale of cryptocurrencies |  |  | (6,025 | ) |  |  | (4,049 | )
Unrealized gain on fair value of cryptocurrency, net |  |  | 46 |  |  |  | — |
Realized gain on sale of cryptocurrencies and consideration paid |  |  | 12 |  |  |  | 229 |
Impairment of cryptocurrencies |  |  | — |  |  |  | (144 | )
Ending balance |  | $ | 96 |  |  | $ | 260 |
Number of bitcoin held |  |  | 1.57 |  |  |  | 8.85 |
Average cost basis - per bitcoin |  | $ | 61,454 |  |  | $ | 27,540 |
Fair value - per bitcoin |  | $ | 63,364 |  |  | $ | 28,010 |
Cost basis of bitcoin (in ‘000s) |  | $ | 96 |  |  | $ | 260 |
Fair value of bitcoin (in ‘000s) |  | $ | 99 |  |  | $ | 263 |
The cost basis represents the valuation of bitcoin at the time the Company earns the bitcoin through mining activities. The cost basis for 2 bitcoin held as of the adoption of ASC 350-60 was determined on the “cost less impairment “ basis. The following table presents information based on the activity of bitcoin for the six months ended June 30, 2024:
|  | Six months ended June 30, 2024 |  |  | Six months ended June 30, 2023 |
Beginning Balance |  | $ | 142 |  |  | $ | 51 |
Cumulative effect of the adoption of ASC 350-60 |  |  | 3 |  |  |  | — |
Adjusted beginning balance, at fair value |  |  | 145 |  |  |  | 51 |
Addition of bitcoin from mining activities |  |  | 5,933 |  |  |  | 4,258 |
Bitcoin sold and issued for operations |  |  | (6,028 | ) |  |  | (4,049 | )
Unrealized gains (losses) from fair value adjustments |  |  | 46 |  |  |  | — |
Ending Balance |  | $ | 96 |  |  | $ | 260 |
The Company’s bitcoin holdings are not subject to rehypothecation and do not serve as collateral for any existing loans or agreements. As of June 30, 2024, the Company held no other cryptocurrency. The cumulative realized gains from dispositions of bitcoin during the six months ended June 30, 2024 was $12. | 5. Cryptocurrencies The following table presents additional information about cryptocurrencies as follows:
|  | Year Ended |
|  | December 31, 2023 |  |  | December 31, 2022 |
Beginning balance |  | $ | 51 |  |  | $ | 15,050 |
Cryptocurrencies received from mining |  |  | 9,137 |  |  |  | 13,496 |
Mining services revenue |  |  | 844 |  |  |  | 884 |
Mining pool operating fees |  |  | (13 | ) |  |  | (19 | )
Consideration paid related to operation agreement |  |  | — |  |  |  | (461 | )
Proceeds from sale of cryptocurrencies |  |  | (9,943 | ) |  |  | (26,871 | )
Realized gain on sale of cryptocurrencies and consideration paid |  |  | 351 |  |  |  | 3,998 |
Impairment of cryptocurrencies |  |  | (285 | ) |  |  | (6,026 | )
Ending balance |  | $ | 142 |  |  | $ | 51 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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