v3.22.2.2
CRYPTOCURRENCY ASSETS (Tables)
6 Months Ended
Jun. 30, 2022
CRYPTOCURRENCY ASSETS.  
Indefinite-lived Intangible Assets [Line Items]  
Summary of continuity of cryptocurrencies

    

For the year ended

For the six months 

December 31, 2021

ended June 30, 2022

US$

US$

Beginning balance

 

 

55,077

Receipts from issuance of ordinary shares for private placement

 

19,289

 

Cryptocurrencies acquired in connection with business combination

 

73,184

 

Cryptocurrencies borrowing

10,222

Cryptocurrencies mined from mining pool business

 

1,275,238

 

450,809

Cryptocurrencies mined from mining business

 

39,013

 

37,938

Cryptocurrency to be distributed for promotion activities on behalf of a third party

 

3,179

 

Deposits received from customers of mining data center

3,965

4,155

Distribution to pool participants

 

(1,282,143)

 

(468,151)

Repayment of deposit in the form of cryptocurrencies

 

(6,586)

 

Repayment of cryptocurrencies borrowings

(6,523)

Payment of service expense and long-lived assets

 

(2,295)

 

(4,991)

Cryptocurrencies paid in connection with asset acquisition

(1,731)

Disposal of cryptocurrencies*

 

(37,599)

 

(47,498)

Others

 

(379)

 

656

Impairment of cryptocurrency assets

(31,757)

(12,620)

Ending balance of cryptocurrency assets, net

 

55,077

 

15,375

* In January 2022, the Company entered into a loan agreement and a pledge agreement for one year, pursuant to which the lender agreed to lend to the Company funds equal to approximately US$6,306,which was 65% of the current fair market value of 4,000 Ethereum, with a fixed interest rate of 3.25% per annum. In June 2022, the loan has been fully settled by rendering the pledged Ethereum to the lender. Disposal of cryptocurrencies for the six months ended June 30, 2022 included the carrying amount of the pledged Ethereum of US$9,628 rendered to the lender and the Group recorded a loss on disposal of cryptocurrencies in the amount of approximately US$3,322.