ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)
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1 Months Ended |
2 Months Ended |
9 Months Ended |
12 Months Ended |
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Sep. 30, 2021
USD ($)
Integer
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Sep. 03, 2021
USD ($)
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May 21, 2021
USD ($)
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Mar. 12, 2021
shares
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Feb. 11, 2021
shares
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Jan. 12, 2021
$ / shares
shares
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Jan. 04, 2021
USD ($)
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Dec. 23, 2020
USD ($)
Integer
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Dec. 23, 2020
Integer
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Dec. 08, 2020
USD ($)
Integer
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Oct. 23, 2020
USD ($)
Integer
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Oct. 06, 2020
USD ($)
$ / shares
shares
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Aug. 13, 2020
Integer
$ / shares
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Jan. 25, 2021
USD ($)
Integer
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Mar. 14, 2021 |
Sep. 30, 2021
USD ($)
Integer
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Sep. 30, 2020
USD ($)
Integer
$ / shares
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Dec. 31, 2020
USD ($)
shares
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Oct. 01, 2021
Integer
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Jul. 30, 2021
Integer
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Property, Plant and Equipment [Line Items] |
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Payments for purchase of miners |
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$ 137,610,848
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$ 13,269,670
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Total amount to paid |
$ 34,000,000
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Miners description |
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Subject
to the timely payment of the purchase price, Bitmain is and has been scheduled deliver products according to the following schedule:
1,500 Units on or before January 31, 2021; and 1,800 units on or before each of February 28, 2021; September 30, 2021; April 30, 2021,
May 31, 2021 and September 30, 2021.
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Miners assets description |
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August 2021, 2,100 units to be delivered by September 2021, 6,500 units to be delivered by October
31, 2021, 14,700 units to be delivered by November 30, 2021, 24,500 units to be delivered by December 31, 2021 and 15,200 units to be
delivered by January 31, 2022.
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Proceeds from public offering |
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$ 2,300,000
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Other current receivables |
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$ 74,767,226
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Acquisition of bitcoins | Integer |
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4,812.66
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Aggregate purchase price of bitcoins |
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$ 150,000,000
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Merrick Okamoto [Member] |
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Property, Plant and Equipment [Line Items] |
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Cash bonus |
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$ 2,000,000
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Phase I [Member] |
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Property, Plant and Equipment [Line Items] |
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Total amount to be paid for miner |
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$ 23,000,000
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Phase II [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Total amount to be paid for miner |
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9,000,000
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Phase II [Member] | Maximum [Member] |
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Property, Plant and Equipment [Line Items] |
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Total amount to be paid for miner |
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$ 34,000,000
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At The Market Offering [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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6,632,712
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Proceeds from public offering |
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$ 77,100,000
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Other current receivables |
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$ 74,800,000
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Restricted Stock [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of shares restricted stock | shares |
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1,000,000
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Restricted Stock [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of restricted stock, value |
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$ 500,000,000
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Restricted Stock One [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of shares restricted stock | shares |
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1,000,000
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Restricted Stock One [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of restricted stock, value |
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$ 750,000,000
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Restricted Stock Two [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of shares restricted stock | shares |
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2,000,000
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Restricted Stock Two [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of restricted stock, value |
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$ 1,000,000,000
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Restricted Stock Three [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of shares restricted stock | shares |
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2,000,000
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Restricted Stock Three [Member] | Minimum [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of restricted stock, value |
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$ 2,000,000,000
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Bitmaintech PTE., LTD [Member] |
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Property, Plant and Equipment [Line Items] |
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Payments for purchase of miners |
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$ 118,799,091
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payment of purchase price, description |
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Bitmain has delivered products according to the following schedule: 1,500 Units on or before
January 31, 2021; and 1,800 units on or before each of February 28, 2021; September 30, 2021; April 30, 2021, May 31, 2021 and September
30, 2021. As of September 30, 2021, the Company has paid the entire purchase price under this agreement and has received 10,500 units
from Bitmain.
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Bitmaintech PTE., LTD [Member] | December 23, 2020 [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of miners | Integer |
6,460
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6,460
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Power Purchase Agreement [Member] | Marathon and Beowulf [Member] |
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Property, Plant and Equipment [Line Items] |
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Miners description |
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Marathon
and Beowulf entered into an exclusive Power Purchase Agreement for the initial supply of 30 MW (Phase I), and up to 100 MW in the aggregate
(Phase II), of energy load to the Facility at a cost of $0.028/kWh. The initial term of the Power Purchase Agreement is five years, with
up to five additional three-year extensions, as mutually agreed, assuming 75% energy utilization of the initial 30 MW of energy supplied
to the Facility
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Energy load facility cost | $ / shares |
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$ 0.028
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Purchase price of mining |
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$ 750,000
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Data Facility Service Agreement [Member] | Marathon and Beowulf [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock description |
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Upon completion of Phase I, Marathon issued to Beowulf an additional 150,000 shares of its common
stock. During Phase II, Marathon issued to Beowulf an additional 350,000 shares of its common stock – 150,000 shares upon reaching
60 MW of Facility load and 200,000 at completion of the full 100 MW of Facility load. The cost to maintain and run the Facility will
be $0.006/kWh.
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Data Facility Service Agreement [Member] | Marathon and Beowulf [Member] | Phase I [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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150,000
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Data Facility Service Agreement [Member] | Marathon and Beowulf [Member] | Phase II [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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350,000
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Data Facility Service Agreement [Member] | Marathon and Beowulf [Member] | 60 MW Facility [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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150,000
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Data Facility Service Agreement [Member] | Marathon and Beowulf [Member] | 100 MW Facility [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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200,000
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Data Facility Service Agreement [Member] | Beowulf and 2P1 [Member] |
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Property, Plant and Equipment [Line Items] |
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Energy load facility cost | $ / shares |
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$ 1.87
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Common stock shares issued during period | shares |
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3,000,000
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Aggregate purchase price of common stock |
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$ 11,220,000
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Employment Agreement [Member] |
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Property, Plant and Equipment [Line Items] |
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Agreement term |
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3 years
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2018 Equity Incentive Plan [Member] |
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Property, Plant and Equipment [Line Items] |
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Common stock shares issued during period | shares |
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4,701,442
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2018 Equity Incentive Plan [Member] | Restricted Stock [Member] | Merrick Okamoto [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of shares restricted stock | shares |
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2,547,392
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Securities Purchase Agreement [Member] |
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Property, Plant and Equipment [Line Items] |
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Sale of stock, shares | shares |
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12,500,000
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At the Market (ATM) [Member] |
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Property, Plant and Equipment [Line Items] |
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Shares issued price per share | $ / shares |
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$ 20.00
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Purchase Agreement [Member] |
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|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from public offering |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 250,000,000
|
|
|
|
|
Antminer S-19 Pro ASIC [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
10,500
|
|
|
|
|
|
|
|
Purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,362
|
|
|
|
|
|
|
|
Discounted purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,206
|
|
|
|
|
|
|
|
Miners description |
|
|
|
|
|
|
|
|
|
|
|
|
The
purchase price per unit is $2,362 ($2,206 with a 6.62% discount) for a total purchase price of $24,801,000 (with a 6.62% discount for
a discounted price of $23,159,174). The parties confirm that the total hashrate of the Antminers under this agreement shall not be less
than 1,155,000 TH/s.
|
|
|
|
|
|
|
|
Antminer S-19 Pro ASIC [Member] | Bitmaintech PTE., LTD [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
10,000
|
|
|
|
|
|
|
|
|
|
10,000
|
|
|
|
|
10,000
|
|
|
|
|
Percentage of discount for the purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.63%
|
|
|
|
|
|
Purchase price of mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 21,581,594
|
|
|
|
|
Aggregate purchase price of common stock |
|
|
|
|
|
|
|
|
|
|
$ 23,620,000
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
Antminer S-19 Pro ASIC [Member] | Bitmaintech PTE., LTD [Member] | January 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
2,500
|
|
|
|
|
|
|
|
|
|
Antminer S-19 Pro ASIC [Member] | Bitmaintech PTE., LTD [Member] | February 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
4,500
|
|
|
|
|
|
|
|
|
|
Antminer S-19 Pro ASIC [Member] | Bitmaintech PTE., LTD [Member] | March 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
3,000
|
|
|
|
|
|
|
|
|
|
Antminer S-19 Pro ASIC [Member] | Long Term Purchase Contract [Member] | Bitmaintech PTE., LTD [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,500
|
|
|
|
Purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,362
|
|
|
|
Discounted purchase price per unit of miners | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,206
|
|
|
|
Percentage of discount for the purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.63%
|
6.62%
|
|
|
|
Payments for purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 24,801,000
|
|
|
|
Discounted payment for purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 22,660,673
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
70,000
|
70,000
|
10,000
|
|
|
|
|
|
|
|
|
|
30,000
|
Percentage of discount for the purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.63%
|
|
|
|
|
|
Total amount to be paid for miner |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,718,649
|
|
|
|
|
Aggregate purchase price of common stock |
|
|
|
|
|
|
|
$ 167,763,451
|
|
$ 23,770,000
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
20.00%
|
|
10.00%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | December 23, 2020 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments for purchase of miners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
118,799,091
|
|
|
|
|
Purchase price of mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
167,763,452
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | Subsequent Event [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,000
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | August 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
6,000
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | January 14, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | February 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
10.00%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | June 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | July 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
20.00%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | July 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
7,000
|
7,000
|
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | March 1, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | June 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
4.75%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | July 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
1.76%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | August 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
4.58%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | September 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
10.19%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | October 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
17.63%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | November 15, 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Execution of contract percentage |
|
|
|
|
|
|
|
|
|
11.55%
|
|
|
|
|
|
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | July 30 2021 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expedite fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
120,711,500
|
|
|
|
|
Payment of expedite fee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
54,775,000
|
|
|
|
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | January 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | February 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | March 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | April 2022 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of miners | Integer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,000
|
Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | May 2022 [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of miners | Integer |
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5,000
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Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | June 2022 [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of miners | Integer |
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5,000
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Antminer S19J Pro ASIC Miners [Member] | Bitmaintech PTE., LTD [Member] | September 2021 [Member] |
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Property, Plant and Equipment [Line Items] |
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Number of miners | Integer |
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4,000
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Marathon Digital Holdings Inc [Member] | Compute North LLC [Member] |
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Property, Plant and Equipment [Line Items] |
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Miners description |
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Marathon Digital Holdings, Inc. (the “Company”) entered into a binding letter of intent with Compute North,
LLC to host 73,000 Bitcoin Miners over a staged in implementation between October 2021 and March 2022. The hosting cost is $0.50 per
machine per month and the hosting rate will be $0.044 per kWh. In order to build out the infrastructure without paying for the capital
expenditure, the Company will provide an 18 month bridge loan to Compute North of up to $67 million dollars, in tranches, based upon
specified requirements being met. The terms of the contract are limited to three years with increases thereafter capped at three percent
per year thereafter.
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Loan receivable |
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$ 67,000,000
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Expedite fees |
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14,000,000
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14,600,000
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Payment of expedite fee |
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$ 8,000,000
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$ 9,100,000
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Marathon Digital Holdings Inc [Member] | Compute North LLC [Member] | Five Installments [Member] |
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Property, Plant and Equipment [Line Items] |
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Payment of expedite fee |
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$ 14,600,000
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MONTANA |
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Property, Plant and Equipment [Line Items] |
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Number of miners | Integer |
17,300
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17,300
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