Cryptocurrency

3 Months Ended

Mar. 31, 2023

Cryptocurrency

Cryptocurrency

Note 5. Cryptocurrency

The Company measures its operations by the number and U.S. Dollar (US$) value of the cryptocurrency rewards it earns from its cryptocurrency mining activities. The Company recognized impairments, or write downs, of cryptocurrency (Bitcoin) rewards to the lowest fair market value of Bitcoin from the time the reward was earned through the end of the reporting period. The impairments amounted to $0 and $106,105 for the three months ended March 31, 2023 and March 31, 2022, respectively. If the subsequent market price of Bitcoin increases, the asset balance will not be adjusted for the increase. The following table presents additional information regarding our cryptocurrency mining operations:

	Quantity of Bitcoin			US $ Amounts
Balance December 31, 2021	6.6		$	302,654
Revenue recognized from cryptocurrency mined	8.3			343,055
Mining pool operating fees	(0.2	)		(6,868	)
Impairment of cryptocurrencies	—			(106,105	)
Balance March 31, 2022	14.7		$	532,736
Revenue recognized from cryptocurrency mined	4.6			166,592
Mining pool operating fees	(0.1	)		(3,428	)
Proceeds from the sale of cryptocurrency	(18.9	)		(564,205	)
Realized loss on the sale of cryptocurrency	—			(131,075	)
Impairment of cryptocurrencies	—			(34	)
Balance June 30, 2022 (1)	0.3		$	586
Revenue recognized from cryptocurrency mined	0.3			7,955
Mining pool operating fees	—			(156	)
Impairment of cryptocurrencies	—			(1,035	)
Balance September 30, 2022	0.6		$	7,350
Revenue recognized from cryptocurrency mined	—			—
Mining pool operating fees	—			—
Proceeds from the sale of cryptocurrency	(0.6	)		(11,203	)
Realized gain on the sale of cryptocurrency	—			3,853
Balance December 31, 2022	—		$	—
Revenue recognized from cryptocurrency mined	—			—
Mining pool operating fees	—			—
Proceeds from the sale of cryptocurrency	—			—
Realized gain on the sale of cryptocurrency	—			—
Balance March 31, 2023	—		$	—

⁽¹⁾ Since June 30, 2022 the Company has neither received meaningful cryptocurrency awards nor generated meaningful revenue from cryptocurrency mining.