Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT

v3.25.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

    March 31, 2025     December 31, 2024  
Computer equipment and software     1,359,199       835,142  
Bitminers     851,235       -  
Natural gas power generators and spare parts     1,681,821       -  
Transformers and Generators     199,180       -  
Furniture and fixtures     -       2,358  
Total property and equipment     4,091,435       837,500  
Less: accumulated amortization     (176,211 )     (28,605 )
Property and equipment, net   $ 3,915,224     $ 808,895  

 

Depreciation expense on property and equipment for the three months ended March 31, 2025 was $121,079 (March 31, 2024 - $2,703). During the three months ended March 31, 2025, the Company disposed of property and equipment which resulted in a loss of $Nil (March 31, 2024 - $4,252).