NOTES PAYABLE

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Notes Payable

7. NOTES PAYABLE

The Company has entered into equipment finance agreements that are secured by the purchased miner equipment. These agreements generally require monthly payments of principal, interest and a risk premium fee. The following table provides information on the equipment financing agreements:

$ in thousands
			Interest	Initial		Balance as of:
Note	Loan Date	Maturity Date	Rate	Financing		September 30, 2021			December 31, 2020
A	December 2020	June 2022	17.0%	$	4,482	$	1,992		$	4,233
B	December 2020	June 2022	17.0%		428		166			404
C	March 2021	November 2022	17.0%		2,229		1,733			-
D	April 2021	December 2022	17.0%		4,012		3,343			-
E - H	May 2021	October 2023	15.0%		12,080		11,751			-
I	July 2021	January 2023	17.0%		4,457		3,962			-
J	July 2021	March 2023	17.0%		2,701		2,415			-
							25,363			4,637
Less: Current portion							(17,994	)		(3,273	)
						$	7,369		$	1,364

The Company incurred interest expense of $1.0 million and $1.4 million during the three and nine months ended September 30, 2021, respectively, under the terms of these notes payable.