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Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment, net, consisted of the following:

 

   September 30,
2024		   December 31,
2023		 
         
Plant and equipment  $10,404,241   $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   1,047,876    998,815 
Assets under construction   
-
    4,764,051 
Leasehold improvements   487,527    487,527 
Total   121,211,091    149,825,787 
Less: Accumulated depreciation   (91,494,807)   (92,085,496)
Property, plant and equipment, net  $29,716,284   $57,740,291 

 

The Company incurred depreciation and amortization expenses in the amounts of $3.61 million and $11.88 million for the three-month period ended September 30, 2024 and 2023, respectively. The Company incurred depreciation and amortization expenses in the amounts of $16.21 million and $28.63 million for the nine-month periods ended September 30, 2024 and 2023, respectively. There were no impairment charges recognized for property, plant and equipment for either the nine-month periods ended September 30, 2024 and 2023.