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

NOTE 6 – PROPERTY AND EQUIPMENT

 

Property and equipment, net, consisted of the following:

 

   June 30,
2022  		   December 31,
2021		 
         
Plant and equipment   6,583,193    1,046,866 
Computer equipment   469,966    216,099 
Furniture & fixtures   29,851    31,474 
Processing machines (Miners)   144,010,826    81,341,098 
Modular data center   21,678,051    9,819,796 
Motor Vehicles   327,053    250,425 
Transformers   6,978,071    1,190,609 
Low-cost assets   872,612    246,154 
Assets under construction   13,630,192    1,008,001 
Leasehold improvements   360,000    
-
 
Total      194,939,815    95,150,522 
Less: Accumulated depreciation      (46,001,594)   (18,213,672)
Property and equipment, net      148,938,221    76,936,850 

 

Depreciation and amortization expense for the three month period ended June 30, 2022 and 2021 was $16,023,817 and $2,533,242, respectively. Depreciation and amortization expense for the six month period ended June 30, 2022 and 2021 was $29,826,849 and $3,848,142, respectively. There were no impairment charges recognized for property and equipment for six month period ended June 30, 2022, or June 30, 2021.