Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.22.2.2
Property and Equipment (Tables)
9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Schedule of property and equipment
    Life (Years)     September 30, 2022     December 31, 2021  
Buildings and building improvements     10-25     $ 187,596     $ 88,808  
Land rights and land improvements     n/a       10,089      
—  
 
Miners and mining equipment     2       400,892       87,921  
Machinery and facility equipment     5-7       22,670       15,613  
Office and computer equipment     3       1,233       1,007  
Construction in progress             107,744       113,598  
Total cost of property and equipment             730,224       306,947  
Less accumulated depreciation             (80,033 )     (30,467 )
Property and equipment, net           $ 650,191     $ 276,480  

Schedule of purchase agreement commitments, deposits paid and expected delivery timing
Agreement Date (1)     Original Purchase Commitment       Open Purchase Commitment       Deposit Balance     Expected Shipping
April 5, 2021   $ 138,506     $ 10,395     $ 53,070     Fourth Quarter 2022
October 29, 2021     56,250       (422 )     1,609     Fourth Quarter 2022
November 22, 2021     32,550       2,969       21,938     Fourth Quarter 2022
December 10, 2021     97,650       11,865       65,814     Fourth Quarter 2022
December 24, 2021     202,860       20,118       134,904     Fourth Quarter 2022
Total   $ 527,816     $ 44,925     $ 277,335