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EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS (Q2) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2023 | Dec. 31, 2022
EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS |  |
EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS |
18. | EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS
(a) | Expenses by nature
| ​ | ​ | Periods ended June 30,
In thousands of USD | ​ | ​ | 2022 | ​ | ​ | 2023
Staff cost | ​ | ​ |  | ​ | ​ |
- Salaries, wages and other benefits | ​ | ​ | 23,874 | ​ | ​ | 24,345
Share-based payment expenses | ​ | ​ | 54,425 | ​ | ​ | 21,847
Amortization | ​ | ​ |  | ​ | ​ |
- intangible assets | ​ | ​ | 29 | ​ | ​ | 154
Depreciation | ​ | ​ |  | ​ | ​ |
- mining machines | ​ | ​ | 15,045 | ​ | ​ | 11,208
- property, plant and equipment | ​ | ​ | 11,766 | ​ | ​ | 20,376
- right-of-use assets | ​ | ​ | 2,411 | ​ | ​ | 3,205
- investment properties | ​ | ​ | — | ​ | ​ | 1,280
Electricity cost in operating mining machines | ​ | ​ | 59,354 | ​ | ​ | 84,510
Cost of mining machines and accessories sold | ​ | ​ | 571 | ​ | ​ | 4
Consulting service fee | ​ | ​ | 3,012 | ​ | ​ | 5,650
Tax and surcharge | ​ | ​ | 2,261 | ​ | ​ | 3,155
Advertising expenses | ​ | ​ | 416 | ​ | ​ | 628
Office expenses | ​ | ​ | 1,333 | ​ | ​ | 1,894
Research and development technical service fees | ​ | ​ | 526 | ​ | ​ | 1,104
Expense of low-value consumables | ​ | ​ | 2,412 | ​ | ​ | 1,126
Expenses of variable payment lease | ​ | ​ | 284 | ​ | ​ | 193
Expenses of short-term leases | ​ | ​ | 316 | ​ | ​ | 159
Logistic fee | ​ | ​ | 1,477 | ​ | ​ | 243
Travel expenses | ​ | ​ | 2,015 | ​ | ​ | 1,227
Insurance fee | ​ | ​ | 2,091 | ​ | ​ | 692
Others | ​ | ​ | 5,736 | ​ | ​ | 3,267
Total cost of revenue, selling, general and administrative and research and development expenses | ​ | ​ | 189,354 | ​ | ​ | 186,267
(b) | Other operating expenses
| ​ | ​ | Periods ended June 30,
In thousands of USD | ​ | ​ | 2022 | ​ | ​ | 2023
Net (losses) / gain on disposal of cryptocurrencies | ​ | ​ | (2,230) | ​ | ​ | 471
(Recognition) / reversal of impairment loss of cryptocurrencies | ​ | ​ | (561) | ​ | ​ | 1
Net losses on disposal of mining machines | ​ | ​ | — | ​ | ​ | (572)
Total | ​ | ​ | (2,791) | ​ | ​ | (100)
(c) | Other net gain
| ​ | ​ | Periods ended June 30,
In thousands of USD | ​ | ​ | 2022 | ​ | ​ | 2023
Changes in fair value of financial assets at fair value through profit or loss | ​ | ​ | — | ​ | ​ | 2,238
Government grants | ​ | ​ | 19 | ​ | ​ | 31
Net gain / (losses) on disposal of property, plant and equipment | ​ | ​ | 554 | ​ | ​ | (51)
Others | ​ | ​ | 557 | ​ | ​ | (610)
Total | ​ | ​ | 1,130 | ​ | ​ | 1,608
(d) | Finance expenses
| ​ | ​ | Periods ended June 30,
In thousands of USD | ​ | ​ | 2022 | ​ | ​ | 2023
Interest income | ​ | ​ | 777 | ​ | ​ | 4,074
Cryptocurrency transaction service fee | ​ | ​ | (79) | ​ | ​ | (37)
Interest on lease liabilities | ​ | ​ | (1,132) | ​ | ​ | (1,299)
Interest expense on convertible debt | ​ | ​ | (1,374) | ​ | ​ | (1,390)
Loss on foreign currency transactions | ​ | ​ | (3,903) | ​ | ​ | (2,335)
Others | ​ | ​ | (112) | ​ | ​ | (140)
Total | ​ | ​ | (5,823) | ​ | ​ | (1,127)
16. | EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS
(a) | Expenses by nature
| ​ | ​ | Years ended December 31,
| ​ | ​ | 2020 | ​ | ​ | 2021 | ​ | ​ | 2022
In thousands of USD | ​ | ​ | (Restated) | ​ | ​ |  | ​ | ​ |
Staff cost | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
- salaries, wages and other benefits | ​ | ​ | 33,041 | ​ | ​ | 37,730 | ​ | ​ | 50,132
Share-based payments | ​ | ​ | — | ​ | ​ | 88,355 | ​ | ​ | 90,648
Amortization | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
- intangible assets | ​ | ​ | 111 | ​ | ​ | 146 | ​ | ​ | 97
Depreciation | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
- mining machines | ​ | ​ | 98,136 | ​ | ​ | 43,857 | ​ | ​ | 29,281
- property, plant and equipment | ​ | ​ | 9,807 | ​ | ​ | 14,416 | ​ | ​ | 30,438
- investment properties | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,237
- right-of-use assets | ​ | ​ | 3,983 | ​ | ​ | 4,636 | ​ | ​ | 5,371
Electricity cost in operating mining machines | ​ | ​ | 72,078 | ​ | ​ | 58,447 | ​ | ​ | 139,469
Cost of mining machines sold | ​ | ​ | 17,537 | ​ | ​ | 5,978 | ​ | ​ | 1,002
Consulting service fee | ​ | ​ | 1,039 | ​ | ​ | 8,787 | ​ | ​ | 6,797
Tax and surcharge | ​ | ​ | 3,085 | ​ | ​ | 2,202 | ​ | ​ | 3,355
Advertising expenses | ​ | ​ | 2,189 | ​ | ​ | 880 | ​ | ​ | 737
Office expenses | ​ | ​ | 543 | ​ | ​ | 2,219 | ​ | ​ | 3,124
Research and development technical service fees | ​ | ​ | 681 | ​ | ​ | 1,964 | ​ | ​ | 1,313
Expenses of low-value consumables | ​ | ​ | 971 | ​ | ​ | 1,662 | ​ | ​ | 4,025
Expenses of variable payment lease | ​ | ​ | — | ​ | ​ | 610 | ​ | ​ | 639
Expenses of short-term leases | ​ | ​ | 372 | ​ | ​ | 351 | ​ | ​ | 527
Impairment loss of mining machines | ​ | ​ | — | ​ | ​ | 106 | ​ | ​ | —
Logistic expenses | ​ | ​ | 339 | ​ | ​ | 1,391 | ​ | ​ | 3,060
Travel expenses | ​ | ​ | 52 | ​ | ​ | 1,393 | ​ | ​ | 3,202
Insurance fee | ​ | ​ | 459 | ​ | ​ | 983 | ​ | ​ | 3,446
Others | ​ | ​ | 766 | ​ | ​ | 4,826 | ​ | ​ | 12,756
Total cost of revenue, selling, general and administrative and research and development expenses | ​ | ​ | 245,189 | ​ | ​ | 280,939 | ​ | ​ | 390,656
(b) | Other operating income / (expenses)
| ​ | ​ | Years ended December 31,
In thousands of USD | ​ | ​ | 2020 | ​ | ​ | 2021 | ​ | ​ | 2022
Net gain / (losses) on disposal of cryptocurrencies | ​ | ​ | 2,716 | ​ | ​ | 18,725 | ​ | ​ | (3,131)
Impairment loss of cryptocurrencies | ​ | ​ | — | ​ | ​ | (436) | ​ | ​ | —
Change in fair value of cryptocurrencies lent | ​ | ​ | — | ​ | ​ | (3,735) | ​ | ​ | —
Net loss on disposal of mining machine | ​ | ​ | (2,984) | ​ | ​ | (36) | ​ | ​ | (497)
Write-off of receivables from a related party(1) | ​ | ​ | (2,025) | ​ | ​ | — | ​ | ​ | —
Others | ​ | ​ | 248 | ​ | ​ | 107 | ​ | ​ | —
Total | ​ | ​ | (2,045) | ​ | ​ | 14,625 | ​ | ​ | (3,628)
(1) | In 2020, Bishkek Maker Cloud Technologies Co., Ltd. (“Bishkek”), an entity of the Bitdeer Business, waived a receivable of approximately US$2.0 million from one of the subsidiaries of Bitmain. Bishkek was disposed of in July 2021.
(c) | Other net gain / (loss)
| ​ | ​ | Years ended December 31,
In thousands of USD | ​ | ​ | 2020 | ​ | ​ | 2021 | ​ | ​ | 2022
Loss on impairment of property, plant and equipment | ​ | ​ | (2,211) | ​ | ​ | — | ​ | ​ | —
Gain on extinguishment of debt | ​ | ​ | — | ​ | ​ | 880 | ​ | ​ | —
Net gain on disposal of property, plant and equipment and intangible assets | ​ | ​ | 66 | ​ | ​ | 56 | ​ | ​ | 662
Government grants | ​ | ​ | 307 | ​ | ​ | 35 | ​ | ​ | 42
Changes in fair value of financial assets at fair value through profit or loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (841)
Net gain on disposal of other financial assets | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 213
Impairment loss of a pre-matured investment(1) | ​ | ​ | — | ​ | ​ | (2,025) | ​ | ​ | —
Net gain on settlement of balances with Bitmain | ​ | ​ | — | ​ | ​ | 4,468 | ​ | ​ | —
Others | ​ | ​ | (722) | ​ | ​ | (931) | ​ | ​ | 281
Total | ​ | ​ | (2,560) | ​ | ​ | 2,483 | ​ | ​ | 357
(1) | The Group signed a project investment agreement with a third party in April 2021 and made a payment of approximately $2 million. The project was later forfeited, and the Group is actively collecting the paid amount, which was impaired as of June 30, 2021 based on management’s estimate over the likelihood of collection at current stage.
(d) | Finance income / (expenses)
| ​ | ​ | Years ended December 31,
In thousands of USD | ​ | ​ | 2020 | ​ | ​ | 2021 | ​ | ​ | 2022
Interest on lease liabilities | ​ | ​ | (817) | ​ | ​ | (1,217) | ​ | ​ | (2,425)
Cryptocurrency transaction service fee | ​ | ​ | (458) | ​ | ​ | (109) | ​ | ​ | (159)
Gain / (loss) on foreign currency transactions | ​ | ​ | 618 | ​ | ​ | (226) | ​ | ​ | (2,881)
Interest income | ​ | ​ | 419 | ​ | ​ | 2,947 | ​ | ​ | 4,291
Interest expenses on bank loan | ​ | ​ | (6) | ​ | ​ | (3) | ​ | ​ | —
Interest expense on convertible debt | ​ | ​ | — | ​ | ​ | (1,223) | ​ | ​ | (2,778)
Others | ​ | ​ | (136) | ​ | ​ | (110) | ​ | ​ | (229)
Total | ​ | ​ | (380) | ​ | ​ | 59 | ​ | ​ | (4,181)

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