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Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 4. Property, Plant and Equipment Property, plant and equipment consist of the following at: Schedule of Plant And Equipment
(Dollars in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Land |  | $ | 52 |  |  | $ | 52 |
Land improvements |  |  | 490 |  |  |  | 488 |
Buildings |  |  | 6,048 |  |  |  | 6,351 |
Leasehold improvements |  |  | 18 |  |  |  | 59 |
Vehicles |  |  | 15 |  |  |  | 15 |
Computers and related software |  |  | 3,686 |  |  |  | 7,248 |
Machinery and equipment |  |  | 2,605 |  |  |  | 3,295 |
Office furniture and fixtures |  |  | 22 |  |  |  | 22 |
Equipment held for sale |  |  | 556 |  |  |  | 295 |
Construction in progress |  |  | 26,998 |  |  |  | 26,175 |
Property, plant and equipment gross |  |  | 40,490 |  |  |  | 44,000 |
Less: Accumulated depreciation |  |  | (1,682 | ) |  |  | (1,496 | )
Property, plant and equipment |  | $ | 38,808 |  |  | $ | 42,504 |
Depreciation expense was approximately $632 thousand and $4.3 million for the three months ended March 31, 2023, and the three months ended March 31, 2022, respectively. On February 23, 2023, NYDIG proceeded to foreclose on all of the collateral securing the MEFA, which resulted in a reportable disposition of all of the Company’s mining assets at the site and certain of the operating assets of Project Marie. The total net book value of the collateralized assets that were repossessed totaled approximately $3.4 million in which were written off the Company’s books in the first quarter of 2023, offsetting the outstanding loan. In January 2023, the Company sold M20 and M21 miners for a loss on sale of equipment of approximately $82 thousand in which we received proceeds of $213 thousand for our M20 and M21 miners which were previously reported as held for sale as of December 31, 2022, in which had a net book value of $295 thousand. There were additional proceeds of $36 thousand in March 2023, in which resulted in a gain of approximately $3 thousand of scrap and other equipment. During the three months ended March 31, 2023, the Company had impairment charges of approximately $209 thousand in which related to impairment of approximately $166 thousand power supply units (PSUs) at the Sophie location and $43 thousand for M31 miners in which were subsequently sold in April 2023, in which the Company wrote down the net book value to subsequent sale price. There were no impairment charges for the three months ended March 31, 2022. Prior to March 31, 2023, the Company had a business opportunity to sell the M31 miners, in which were subsequently sold in April 2023, as such the Company recorded the net book value of $177 thousand as assets held for sale included within property, plant, equipment on the balance sheet due to a policy election. In addition, due to the closure of the Marie facility in February 2023, the Company had a net book value of approximately $379 thousand for tesseracts in which were also included as held for sale noted within property, plant and equipment as the Company is actively trying to sell the equipment within the next year.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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