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Property and Equipment
 12 Months Ended
Dec. 31, 2023
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5:- PROPERTY AND EQUIPMENT

 

Property and equipment, net, consisted of the following:

 

   December 31,
2023		   December 31,
2022		 
         
Plant and equipment  $4,973,191   $4,263,662 
Computer equipment   125,695    163,060 
Furniture & fixtures   -    29,492 
Processing machines (Miners)   102,984,186    103,337,719 
Modular data center   25,449,717    19,713,534 
Motor Vehicles   199,246    326,704 
Transformers   9,843,359    8,886,576 
Low-cost assets   998,815    995,292 
Assets under construction   4,764,051    11,592,582 
Leasehold improvements   487,527    487,527 
Total   149,825,787    149,796,148 
Less: Accumulated depreciation   (92,085,496)   (54,489,966)
Reclassification to assets held for sale   -    (4,289,684)
Property and equipment, net  $57,740,291   $91,016,498 

 

The Company incurred depreciation and amortization expense in the amounts of $38.08 million and $63.20 million for the years ended December 31, 2023 and 2022, respectively.

 

There were no impairment charges for the year ended December 31, 2023. There were impairment charges recognized for processing machines of $5.45 million for year ended December 31, 2022. These assets were disposed of as part of the sale of the Georgia site to CleanSpark Inc.