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Property and Equipment | 9 Months Ended
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Sep. 30, 2023
Property and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following:
|  | September 30, 2023 |  |  | December 31, 2022 |
Plant and equipment |  | $ | 4,712,229 |  |  | $ | 4,263,662 |
Computer equipment |  |  | 161,027 |  |  |  | 163,060 |
Furniture and fixtures |  |  | 27,887 |  |  |  | 29,492 |
Processing machines (Miners) |  |  | 101,269,956 |  |  |  | 103,337,719 |
Modular data center |  |  | 25,222,949 |  |  |  | 19,713,534 |
Motor vehicles |  |  | 357,704 |  |  |  | 326,704 |
Transformers |  |  | 9,892,254 |  |  |  | 4,596,892 |
Low-cost assets |  |  | 1,151,741 |  |  |  | 995,292 |
Assets under construction |  |  | 5,081,023 |  |  |  | 11,592,582 |
Leasehold improvements |  |  | 487,528 |  |  |  | 487,527 |
Total |  |  | 148,364,298 |  |  |  | 145,506,464 |
Less: Accumulated depreciation |  |  | (82,052,063 | ) |  |  | (54,489,966 | )
Property and equipment, net |  | $ | 66,312,235 |  |  | $ | 91,016,498 |
The Company incurred depreciation and amortization expenses in the amounts of $11.88 million and $16.25 million for the three-month period ended September 30, 2023, and 2022, respectively. The Company incurred depreciation and amortization expenses in the amounts of $28.63 million and $46.06 million for the nine-month periods ended September 30, 2023, and 2022, respectively. There were no impairment charges recognized for property and equipment for either the nine-month periods ended September 30, 2023, and 2022.

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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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