Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 23

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 1
Chunk 23
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 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, 2024

         ($ in thousands)
         
        Intangible assets

        Accumulated amortization

        Net intangible assets

        Intangible assets

        Accumulated amortization

        Net intangible assets

        Software
         
        $
        4,981

        $
        (833
        )
         
        $
        4,148

        $
        981

        $
        (230
        )
         
        $
        751

        Websites

        15

        (15
        )

        0

        15

        (13
        )

        2

        Strategic Contract

        9,800

        (8,003
        )

        1,797

        9,800

        (7,513
        )

        2,287

        Total
         
        $
        14,796

        $
        (8,851
        )
         
        $
        5,945

        $
        10,796

        $
        (7,756
        )
         
        $
        3,040

      Amortization expense for the three months ended December 31, 2024 and 2023 was $1,104 and $513, respectively.The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows: