Property and Equipment
|3 Months Ended|
Mar. 31, 2020
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
Note 6. Property and Equipment
Property and equipment consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):
During the three months ended March 31, 2020, the Company received 1,000 miners at its Oklahoma City facility, and the related $1.4 million prepayment recorded as a deposit as of December 31, 2019, was reclassified to property and equipment as of March 31, 2020. As of December 31, 2019, approximately $4.9 million of miners had been received but not yet placed in service until January 2020.
Depreciation and amortization expense totaled approximately $0.7 million (including $0.03 million of patent amortization) for the three months ended March 31, 2020. Depreciation and amortization expense was nominal for the three months ended March 31, 2019. Depreciation is computed on the straight-line basis for the periods the assets are in service.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef