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PROPERTY AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

7. PROPERTY AND EQUIPMENT, NET

 

At June 30, 2022 and December 31, 2021, property and equipment consisted of:

          
   June 30, 2022   December 31, 2021 
Cryptocurrency machines and related equipment  $76,963,000   $10,763,000 
Computer, software and related equipment   18,697,000    8,884,000 
Office furniture and equipment   2,585,000    702,000 
Land   25,696,000    25,696,000 
Building and improvements   70,926,000    68,959,000 
    194,867,000    115,004,000 
Accumulated depreciation and amortization   (10,403,000)   (5,096,000)
Property and equipment placed in service, net   184,464,000    109,908,000 
Deposits on cryptocurrency machines   61,523,000    64,117,000 
Property and equipment, net  $245,987,000   $174,025,000 

 

For the six months ended June 30, 2022 and 2021, depreciation expense amounted to $6.3 million and $0.4 million, respectively.