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Property and Equipment | 6 Months Ended
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Jun. 30, 2023
Property and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following:
|  | June 30, 2023 |  |  | December 31, 2022 |
Plant and equipment |  | $ | 4,672,674 |  |  | $ | 4,263,662 |
Computer equipment |  |  | 162,060 |  |  |  | 163,060 |
Furniture and fixtures |  |  | 28,703 |  |  |  | 29,492 |
Processing machines (Miners) |  |  | 102,164,610 |  |  |  | 103,337,719 |
Modular data center |  |  | 24,935,634 |  |  |  | 19,713,534 |
Motor vehicles |  |  | 357,704 |  |  |  | 326,704 |
Transformers |  |  | 9,893,024 |  |  |  | 4,596,892 |
Low-cost assets |  |  | 1,134,858 |  |  |  | 995,292 |
Assets under construction |  |  | 5,183,049 |  |  |  | 11,592,582 |
Leasehold improvements |  |  | 487,527 |  |  |  | 487,527 |
Total |  |  | 149,019,843 |  |  |  | 145,506,464 |
Less: Accumulated depreciation |  |  | (70,490,369 | ) |  |  | (54,489,966 | )
Property and equipment, net |  | $ | 78,529,474 |  |  | $ | 91,016,498 |
The Company incurred depreciation and amortization expenses in the amounts of $8.79 million and $16.02 million for the three month period ended June 30, 2023 and 2022, respectively. The Company incurred depreciation and amortization expenses in the amounts of $16.75 million and $29.83 million for the six month periods ended June 30, 2023 and 2022, respectively. There were no impairment charges recognized for property and equipment for either the six month periods ended June 30, 2023 and 2022. On April 18, 2023, the Company sold 100% of its membership interest in Luna Squares Texas LLC along with 59 transformers. The total sales price was $8.5 million in cash and stablecoins, the profit on sale of this site has been included in the consolidated condensed statement of operations.

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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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