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Deposit, Property and Equipment | 12 Months Ended
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Dec. 31, 2021
Deposit Property And Equipment [Abstract] |
DEPOSIT, PROPERTY AND EQUIPMENT |
NOTE 7:- | DEPOSIT, PROPERTY AND EQUIPMENT
On February 5, 2021, Cosmos Infrastructure LLC (“Infrastructure”) entered into a Long-Term Purchase Contract with Canaan Convey Co Ltd (“Canaan”) for the purchase of 11,760 next generation Avalon A1246 ASIC Miners (Avalon). The average purchase price per unit is $2,889 for a total purchase price of $33,974,640 (the “Canaan Transaction”). There will be a final adjustment to the purchase price in the last delivery due in March 2022 based on the actual tera hash delivered, based on the agreed price per tera hash under the terms of the contract. The amount paid in relation to this contract during the year December 31, 2021 was $30,799,440 and Canaan delivered 8,232 Miners during the year. The Company recognized these delivered assets as Property and Equipment on the consolidated balance sheet when the transfer of risk and title occurs for each shipment (i.e., the Miners have been delivered by Canaan to the agreed-upon port of loading in China). On August 9, 2021, Infrastructure entered into a second Long-Term Purchase Contract with Canaan for the purchase of 15,000 next generation Avalon A1246 ASIC Miners (Avalon). The average purchase price per unit is $4,908 for a total purchase price of $73,620,000. There will be a final adjustment to the purchase price in the last delivery due in May 2022 based on the actual tera hash delivered, based on the agreed price per tera hash under the terms of the contract. The amount paid in relation to this contract during the year December 31, 2021 was $39,330,000 of which no orders have been delivered during the year. As of December 31, 2021, $51.37 million cash paid for equipment was recorded as a deposit on the balance sheet.

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