PROPERTY AND EQUIPMENT

6 Months Ended

Dec. 31, 2021

PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following as of:

	December 31, 2021			June 30, 2021
Cryptocurrency mining equipment	$	11,289,899		$	3,664,573
Furniture and equipment		23,148			16,366
Total		11,313,047			3,680,939
Less accumulated depreciation and amortization		(1,246,296	)		(521,416	)
Net	$	10,066,751		$	3,159,523

Depreciation and amortization expense, included in cost of revenues, for the three months ended December 31, 2021 and 2020 was $424,025 and $67,220, respectively, and $724,880 and $177,792 for the six months ended December 31, 2021 and 2020, respectively.

During the six months ended December 31, 2020, we disposed of and wrote off non-serviceable, defective mining equipment with a net book value of $207,281.