PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

5. PROPERTY AND EQUIPMENT

Property and equipment, net consisted of the following at March 31, 2022 and December 31, 2021:

$ in thousands	Estimated Useful Lives	March 31, 2022			December 31, 2021
Plant infrastructure	15 - 39 years	$	34,976		$	34,725
Miners	5 years		64,138			48,121
Miner facility infrastructure	15 years		15,957			15,143
Land	N/A		13,460			8,460
Equipment	5 years		961			1,660
Software	3 years		636			636
Coal ash impoundment	4 years		2,410			2,410
Construction in process	N/A		45,195			25,856
Miner deposits	N/A		135,327			98,110
			313,060			235,121
Less: Accumulated depreciation			(21,009	)		(18,030	)
		$	292,051		$	217,091

Total depreciation expense was $3.7 million and $1.3 million for the three months ended March 31, 2022 and 2021, respectively.