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Property and Equipment | 3 Months Ended
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Mar. 31, 2024
Property and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following:
|  | March 31, 2024 |  |  | December 31, 2023 |
Plant and equipment |  | $ | 4,960,188 |  |  | $ | 4,973,191 |
Computer equipment |  |  | 125,695 |  |  |  | 125,695 |
Processing machines (Miners) |  |  | 77,447,520 |  |  |  | 102,984,186 |
Modular data center |  |  | 21,346,757 |  |  |  | 25,449,717 |
Motor Vehicles |  |  | 199,246 |  |  |  | 199,246 |
Transformers |  |  | 9,344,544 |  |  |  | 9,843,359 |
Low-cost assets |  |  | 976,717 |  |  |  | 998,815 |
Assets under construction |  |  | 4,764,051 |  |  |  | 4,764,051 |
Leasehold improvements |  |  | 487,527 |  |  |  | 487,527 |
Total |  |  | 119,652,245 |  |  |  | 149,825,787 |
Less: Accumulated depreciation |  |  | (83,282,367 | ) |  |  | (92,085,496 | )
Property and equipment, net |  | $ | 36,369,878 |  |  | $ | 57,740,291 |
The Company incurred depreciation and amortization expense in the amounts of $7.99 million and $7.96 million for the quarters ended March 31, 2024 and 2023, respectively. There were no impairment charges recognized for property and equipment for either the quarter ended March 31, 2024, or 2023.

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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