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Property and Equipment | 6 Months Ended
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Jun. 30, 2024
Property and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following:
|  | June 30, 2024 |  |  | December 31, 2023 |
Plant and equipment |  | $ | 10,760,644 |  |  | $ | 4,973,191 |
Computer equipment |  |  | 176,151 |  |  |  | 125,695 |
Processing machines (Miners) |  |  | 77,447,520 |  |  |  | 102,984,186 |
Modular data center |  |  | 22,103,986 |  |  |  | 25,449,717 |
Motor Vehicles |  |  | 199,246 |  |  |  | 199,246 |
Transformers |  |  | 9,344,544 |  |  |  | 9,843,359 |
Low-cost assets |  |  | 1,009,101 |  |  |  | 998,815 |
Assets under construction |  |  | - |  |  |  | 4,764,051 |
Leasehold improvements |  |  | 487,527 |  |  |  | 487,527 |
Total |  |  | 121,528,719 |  |  |  | 149,825,787 |
Less: Accumulated depreciation |  |  | (87,886,701 | ) |  |  | (92,085,496 | )
Property and equipment, net |  | $ | 33,642,018 |  |  | $ | 57,740,291 |
The Company incurred depreciation and amortization expenses in the amounts of $4.60 million and $8.79 million for the three-month period ended June 30, 2024 and 2023, respectively. The Company incurred depreciation and amortization expenses in the amounts of $12.60 million and $16.75 million for the six-month periods ended June 30, 2024 and 2023, respectively. There were no impairment charges recognized for property and equipment for either the six-month periods ended June 30, 2024 and 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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