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Property and Equipment | 9 Months Ended
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Sep. 30, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following:
|  | September 30, 2022 |  |  | December 31, 2021 |
Plant and equipment |  |  | 7,062,259 |  |  |  | 1,046,866 |
Computer equipment |  |  | 467,209 |  |  |  | 216,099 |
Furniture & fixtures |  |  | 28,133 |  |  |  | 31,474 |
Processing machines (Miners) |  |  | 135,620,594 |  |  |  | 81,341,098 |
Modular data center |  |  | 22,154,243 |  |  |  | 9,819,796 |
Motor Vehicles |  |  | 326,704 |  |  |  | 250,425 |
Transformers |  |  | 10,822,776 |  |  |  | 1,190,609 |
Low-cost assets |  |  | 902,421 |  |  |  | 246,154 |
Assets under construction |  |  | 17,248,364 |  |  |  | 1,008,001 |
Leasehold improvements |  |  | 487,527 |  |  |  | - |
Total |  |  | 195,120,230 |  |  |  | 95,150,522 |
Less: Accumulated depreciation |  |  | (57,717,088 | ) |  |  | (18,213,672 | )
Less: Provision for impairment |  |  | (4,195,046 | ) |  |  | - |
Reclassification to assets held for sale (NOTE 7) |  |  | (20,701,544 | ) |  |  | - |
Property and equipment, net |  |  | 112,506,552 |  |  |  | 76,936,850 |
Depreciation and amortization expense for the three month period ended September 30, 2022 and 2021 was $16,252,106 and $4,129,862, respectively. Depreciation and amortization expense for the nine month period ended September 30, 2022 and 2021 was $46,061,673 and $7,977,800, respectively. There were impairment charges recognized for processing machines of $4,195,046 for nine month period ended September 30, 2022, and $nil for nine month period ended September 30, 2021. The reclassification of property and equipment to assets held for sale is in relation to the sale of the Georgia Bitcoin Mining facility to CleanSpark, refer to NOTE 7 for further details.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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