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PROPERTY AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | 10. PROPERTY AND EQUIPMENT, NET At December 31, 2023 and 2022, property and equipment consisted of:
Schedule of property and equipment |  |  |  |  |  |  |  |
|  | December 31, 2023 |  |  | December 31, 2022 |
Building, land and improvements |  | $ | 15,752,000 |  |  | $ | 12,995,000 |
Bitcoin mining equipment |  |  | 50,640,000 |  |  |  | 42,438,000 |
Crane rental equipment |  |  | 34,469,000 |  |  |  | 32,453,000 |
Computer, software and related equipment |  |  | 14,335,000 |  |  |  | 23,168,000 |
Aircraft |  |  | 15,983,000 |  |  |  | 15,983,000 |
Other property and equipment |  |  | 8,603,000 |  |  |  | 4,896,000 |
|  |  | 139,782,000 |  |  |  | 131,933,000 |
Accumulated depreciation and amortization |  |  | (30,953,000 | ) |  |  | (5,882,000 | )
Property and equipment placed in service, net |  |  | 108,829,000 |  |  |  | 126,051,000 |
Construction in progress AVLP equipment |  |  | - |  |  |  | 9,400,000 |
Deposits on Bitcoin mining equipment |  |  | - |  |  |  | 11,328,000 |
Property and equipment, net |  | $ | 108,829,000 |  |  | $ | 146,779,000 |
Summary of depreciation expense:
Schedule of depreciation |  |  |  |  |  |
|  | For the Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Depreciation expense |  | $ | 25,660,000 |  |  | $ | 13,939,000 |
Impairment of Property and Equipment During the year ended December 31, 2023, certain unforeseen business developments and changes in financial projections at AVLP indicated that an impairment triggering event had occurred. Testing performed indicated the estimated fair value of AVLP property and equipment as of December 31, 2023 was $0, and an impairment charge of $14.0 million was recognized. During the year ended December 31, 2023, the Company recognized an impairment charge of $3.9 million related to property and equipment at ROI. During the year ended December 31, 2022, adverse changes in business climate, including decreases in the price of Bitcoin and resulting decrease in the market price of miners, indicated that an impairment triggering event had occurred. Testing performed indicated the estimated fair value of the Company’s miners to be less than their net carrying value as of December 31, 2022, and an impairment charge of $79.6 million was recognized, decreasing the net carrying value of the Company’s Bitcoin mining equipment to their estimated fair value. The estimated fair value of the Company’s miners is classified in Level 2 of the fair value hierarchy due to the quoted market prices for similar assets. Compute North Bankruptcy On September 22, 2022, Compute North Holdings, Inc. (along with its affiliated debtors, collectively, “Compute North”), filed for bankruptcy protection. The Company had a deposit of approximately $2.0 million with Compute North for services yet to be performed by Compute North. The Company assessed this financial exposure and recorded an impairment of the deposit totaling $2 million during the year ended December 31, 2022.

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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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