XML 35 R21.htm IDEA: XBRL DOCUMENT v3.24.1
EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS
 12 Months Ended
Dec. 31, 2023
EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS [Abstract]  
EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS
16.
EXPENSES BY NATURE AND OTHER INCOME AND EXPENSES ITEMS
 
(a) Expenses by nature

   
Years ended December 31,
  
In thousands of USD
  
2023
    
2022
    
2021
  
Staff cost
                  
- salaries, wages and other benefits
    
52,873
      
50,132
      
37,730
  
Share-based payments
    
45,488
      
90,648
      
88,355
  
Amortization
                        
- intangible assets
    
754
      
97
      
146
  
Depreciation
                        
- mining machines
    
25,663
      
29,281
      
43,857
  
- property, plant and equipment
    
39,899
      
30,438
      
14,416
  
- investment properties
    
2,601
      
1,237
      
-
  
- right-of-use assets
    
6,624
      
5,371
      
4,636
  
Electricity cost in operating mining machines
    
180,565
      
139,469
      
58,447
  
Cost of mining machines sold
    
4
      
1,002
      
5,978
  
Consulting service fee
    
9,757
      
6,797
      
8,787
  
Tax and surcharge
    
5,442
      
3,355
      
2,202
  
Advertising expenses
    
1,383
      
737
      
880
  
Office expenses
    
3,987
      
3,124
      
2,219
  
Research and development technical service fees
    
2,854
      
1,313
      
1,964
  
Expenses of low-value consumables
    
2,557
      
4,025
      
1,662
  
Expenses of variable payment lease
    
224
      
639
      
610
  
Expenses of short-term leases
    
286
      
527
      
351
  
Impairment loss of mining machines
    
-
      
-
      
106
  
Logistic expenses
    
557
      
3,060
      
1,391
  
Travel expenses
    
2,843
      
3,202
      
1,393
  
Insurance fee
    
2,427
      
3,446
      
983
  
Others
    
8,191
      
12,756
      
4,826
  
Total cost of revenue, selling, general and administrative and research
and development expenses
    
394,979
      
390,656
      
280,939
  
 
(b) Other operating income / (expenses)
 
   
Years ended December 31,
  
In thousands of USD
  
2023
    
2022
    
2021
  
Net gain / (losses) on disposal of cryptocurrencies
    
2,061
      
(3,131
)
    
18,725
  
Impairment loss of cryptocurrencies
    
(2
)
    
-
      
(436
)
Change in fair value of cryptocurrency-settled receivables and payables
    
3,305
      
-
      
(3,735
)
Net loss on disposal of mining machine
    
(1,573
)
    
(497
)
    
(36
)
Others
    
-
      
-
      
107
  
Total
    
3,791
      
(3,628
)
    
14,625
  

(c) Other net gain
   
Years ended December 31,
  
In thousands of USD
  
2023
    
2022
    
2021
  
Gain on extinguishment of debt
    
-
      
-
      
880
  
Net gain / (losses) on disposal of property, plant and equipment and intangible assets
    
(11
)
    
662
      
56
  
Government grants
    
48
      
42
      
35
  
Changes in fair value of financial asset at fair value through profit or loss
    
3,527
      
(841
)
    
-
  
Net gain on disposal of financial assets at fair value through profit or loss
    
-
      
213
      
-
  
Impairment loss of a pre-matured investment (1)
    
-
      
-
      
(2,025
)
Net gain on settlement of balances with Bitmain
    
-
      
-
      
4,468
  
Gain on convertible debt modification
    
481
      
-
      
-
  
Others
    
(507
)
    
281
      
(931
)
Total
    
3,538
      
357
      
2,483
  

(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
  
2023
    
2022
    
2021
  
Interest on lease liabilities
    
(2,605
)
    
(2,425
)
    
(1,217
)
Cryptocurrency transaction service fee
    
(233
)
    
(159
)
    
(109
)
Loss on foreign currency transactions
    
(1,016
)
    
(2,881
)
    
(226
)
Interest income
    
7,953
      
4,291
      
2,947
  
Interest expenses on bank loan
    
-
      
-
      
(3
)
Interest expense on convertible debt
    
(2,476
)
    
(2,778
)
    
(1,223
)
Others
    
(347
)
    
(229
)
    
(110
)
Total
    
1,276
      
(4,181
)
    
59