Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 92

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 92
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 is expected absent recovery of amounts due. The Company continues to monitor any subsequent developments that may affect its rights to enforce or recover the settlement consideration.

F-45

10. PROPERTY AND EQUIPMENTProperty and equipment consist of the following:

         As of September 30,

          ($ in thousands)
          
         2025

         2024

         Land
          
         $
         39,299

         $
         32,190

         Land improvements

         9,937

         5,449

         Building and improvements

         96,400

         76,719

         Leasehold improvements

         2,941

         1,995

         Miners

         1,422,011

         1,035,128

         Mining equipment

         24,807

         23,066

         Infrastructure

         295,837

         155,191

         Machinery and equipment

         16,978

         15,061

         Furniture and fixtures

         2,626

         1,706

         Construction in progress

         12,788

         19,455

         Property and equipment, gross
          
         $
         1,923,624

         $
         1,365,960

         Less: Accumulated depreciation

         (559,943
         )

         (496,267
         )

         Property and equipment, net
          
         $
         1,363,681

         $
         869,693

       Depreciation expense for the years ended September 30, 2025, 2024 and 2023 was $344,135, $152,469 and $118,615, respectively. Depreciation expense attributable to miners for the years ended September 30, 2025, 2024 and 2023 was $306,915, $133,733 and $107,946, respectively.The Company had additions to property and equipment of $808,178 during the year ended September 30, 2025, which included $678,266 in miners acquired, which is the primary cause of the increase of fixed assets. Assets acquired through acquisition transactions (see Note 5 - Acquisitions) resulted in an additional $39,298 in total assets placed in service.During the year ended September 30, 2025, the Company had disposals of property with a net book value of $41