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PROPERTY AND EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

8. PROPERTY AND EQUIPMENT, NET

 

At March 31, 2023 and December 31, 2022, property and equipment consisted of:

          
   March 31, 2023   December 31, 2022 
Building and improvements  $84,647,000   $81,102,000 
Bitcoin mining equipment   42,550,000    42,438,000 
Crane rental equipment   32,644,000    32,453,000 
Land   25,646,000    25,646,000 
Computer, software and related equipment   27,528,000    23,168,000 
Aircraft   15,983,000    15,983,000 
Vehicles   3,393,000    3,314,000 
Office furniture and equipment   2,954,000    2,854,000 
Oil and natural gas properties, unproved properties   3,564,000    972,000 
    238,909,000    227,930,000 
Accumulated depreciation and amortization   (15,099,000)   (9,344,000)
Property and equipment placed in service, net   223,810,000    218,586,000 
Deposits on cryptocurrency machines   11,328,000    11,328,000 
Property and equipment, net  $235,138,000   $229,914,000 

 

Summary of depreciation expense:

        
   For the Three Months Ended 
   March 31, 
   2023   2022 
Depreciation expense  $5,910,000   $2,562,000