Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 121

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 121
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        December 31, 2024

        September 30, 2024

        Land
         
        $
        39,034

        $
        32,190

        Land improvements

        6,110

        5,449

        Building and improvements

        78,919

        76,719

        Leasehold improvements

        1,995

        1,995

        Miners

        1,371,015

        1,035,128

        Mining equipment

        23,169

        23,066

        Infrastructure

        201,117

        155,191

        Machinery and equipment

        16,310

        15,061

        Furniture and fixtures

        2,014

        1,706

        Construction in progress

        52,467

        19,455

        Total
         
        $
        1,792,150

        $
        1,365,960

        Less: accumulated depreciation

        (536,150
        )

        (496,267
        )

        Property and equipment, net
         
        $
        1,256,000

        $
        869,693

F-19

Total depreciation expense for the three months ended December 31, 2024 and 2023 was $65,125 and $29,333, respectively. The Company had additions to property and equipment of $417,182 during the three months ended December 31, 2024, which included $362,281 in miners acquired, which is the primary cause in the increase of fixed assets. Assets acquired through acquisition transactions (see Note 3 - Acquisitions) resulted in an additional $32,395 in total assets placed in service.Construction in progress: The Company is expanding its mining facilities, including infrastructure, building, and land improvements to grow its mining operations. As of December 31, 2024 and September 30, 2024, the Company had outstanding deposits for miners and mining equipment totaling $126,867 and $359,862, respectively. Such deposits are recorded as long-term assets on the condensed consolidated balance sheets. 

8.   INTANGIBLE ASSETSIntangible assets consist of the following as of December 31, 2024 and September 30, 2024:

        December 31, 2024

        September 30, 202