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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
11.
PROPERTY, PLANT AND EQUIPMENT
 

The details of property, plant and equipment are as follows:


In thousands of USD
  
Construction in progress
    
Building
    
Land
    
Machinery
    
Electronic equipment
    
Leasehold improvements and property improvements
    
Others
    
Total
  
Cost:
                                                
At January 1, 2021
    
3,373
      
22,563
      
484
      
9,143
      
2,042
      
28,926
      
1,996
      
68,527
  
Additions
    
59,524
      
886
      
-
      
479
      
3,228
      
-
      
1,329
      
65,446
  
Construction in progress transferred in
    
(27,097
)
    
-
      
-
      
6,133
      
936
      
19,646
      
382
      
-
  
Disposals
    
(2,211
)
    
-
      
-
      
(21
)
    
(871
)
    
(147
)
    
(185
)
    
(3,435
)
At December 31, 2021
    
33,589
      
23,449
      
484
      
15,734
      
5,335
      
48,425
      
3,522
      
130,538
  
Accumulated depreciation:
                                                                
At January 1, 2021
    
-
      
(1,288
)
    
-
      
(1,193
)
    
(703
)
    
(10,418
)
    
(556
)
    
(14,158
)
Charge for the year
    
-
      
(1,100
)
    
-
      
(1,235
)
    
(793
)
    
(10,805
)
    
(501
)
    
(14,434
)
Disposals
    
-
      
-
      
-
      
1
      
462
      
112
      
96
      
671
  
At December 31, 2021
    
-
      
(2,388
)
    
-
      
(2,427
)
    
(1,034
)
    
(21,111
)
    
(961
)
    
(27,921
)
Impairment:
                                                                
At January 1, 2021
    
(2,211
)
    
-
      
-
      
-
      
-
      
-
      
-
      
(2,211
)
Disposals
    
2,211
      
-
      
-
      
-
      
-
      
-
      
-
      
2,211
  
At December 31, 2021
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Net book value:
                                                                
At December 31, 2021
    
33,589
      
21,061
      
484
      
13,307
      
4,301
      
27,314
      
2,561
      
102,617
  
Cost:
                                                                
At January 1, 2022
    
33,589
      
23,449
      
484
      
15,734
      
5,335
      
48,425
      
3,522
      
130,538
  
Additions
    
54,107
      
-
      
-
      
1,228
      
4,681
      
2,431
      
4,295
      
66,742
  
Additions related to asset acquisition (See Note 5)
    
-
      
-
      
-
      
-
      
1
      
-
      
14
      
15
  
Construction in progress transferred in
    
(71,184
)
    
-
      
-
      
16,132
      
794
      
53,661
      
597
      
-
  
Disposals
    
-
      
-
      
-
      
(222
)
    
(187
)
    
-
      
-
      
(409
)
At December 31, 2022
    
16,512
      
23,449
      
484
      
32,872
      
10,624
      
104,517
      
8,428
      
196,886
  
Accumulated depreciation:
                                                                
At January 1, 2022
    
-
      
(2,388
)
    
-
      
(2,427
)
    
(1,034
)
    
(21,111
)
    
(961
)
    
(27,921
)
Charge for the year
    
-
      
(1,137
)
    
-
      
(4,392
)
    
(1,532
)
    
(21,892
)
    
(1,485
)
    
(30,438
)
Disposals
    
-
      
-
      
-
      
16
      
93
      
-
      
-
      
109
  
At December 31, 2022
    
-
      
(3,525
)
    
-
      
(6,803
)
    
(2,473
)
    
(43,003
)
    
(2,446
)
    
(58,250
)
Net book value:
                                                                
At December 31, 2022
    
16,512
      
19,924
      
484
      
26,069
      
8,151
      
61,514
      
5,982
      
138,636
  
Cost:
                                                                
At January 1, 2023
    
16,512
      
23,449
      
484
      
32,872
      
10,624
      
104,517
      
8,428
      
196,886
  
Additions
    
49,421
      
-
      
1,574
      
459
      
3,789
      
876
      
88
      
56,207
  
Construction in progress transferred in
    
(35,838
)
    
3,915
   
-
      
15,476
      
909
      
12,424
      
3,114
      
-
  
Disposals
    
-
      
-
      
-
      
(69
)
    
(36
)
    
(9
)
    
(50
)
    
(164
)
At December 31, 2023
    
30,095
      
27,364
      
2,058
      
48,738
      
15,286
      
117,808
      
11,580
      
252,929
  
Accumulated depreciation:
                                                                
At January 1, 2023
    
-
      
(3,525
)
    
-
      
(6,803
)
    
(2,473
)
    
(43,003
)
    
(2,446
)
    
(58,250
)
Charge for the year
    
-
      
(1,106
)
    
-
      
(6,678
)
    
(1,994
)
    
(27,978
)
    
(2,143
)
    
(39,899
)
Disposals
    
-
      
-
      
-
      
19
      
18
      
3
      
40
      
80
  
At December 31, 2023
    
-
      
(4,631)
      
-
      
(13,462
)
    
(4,449
)
    
(70,978
)
    
(4,549
)
    
(98,069
)
Net book value:
                                                                
At December 31, 2023
    
30,095
      
22,733
      
2,058
      
35,276
      
10,837
      
46,830
      
7,031
      
154,860
  

Construction in progress primarily represents the construction of mining datacenters.
 
The Group had entered into contractual commitments, which was not recognized in payables, for the acquisition of property, plant and equipment amounting to approximately US$7.5 million and US$5.4 million as of December 31, 2023 and 2022, respectively.

For the period from January 1, 2021 to January 26, 2021, approximately US$0.02 million of depreciation expense was allocated to Bitmain and included in changes in invested capital.