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

NOTE 4 – DEPOSIT, PROPERTY AND EQUIPMENT

 

On August 9, 2021, Cosmos Infrastructure LLC entered into a second Long-Term Purchase Contract with Canaan for the purchase of 15,000 next generation Avalon A1246 ASIC Miners. The average purchase price per unit is $4,908 for a total purchase price of $73,620,000. The final shipment for contract was received during May 2022, in total there were 11,000 Miners delivered, there was a final adjustment to the purchase price based on the actual tera hash and number of Miners delivered based on the agreed price per tera hash under the terms of the contract. The purchase price adjustment resulted in a $0.3 million reduction in the purchase price, this is due to be received in cash from Canaan.

 

During the six months ended June 30, 2022, $32,054,326 cash was paid for equipment which was recorded as a either deposit or within property plant and equipment on the balance sheet.