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Property and Equipment
 6 Months Ended
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.