Note 5. Property and Equipment

Property and equipment consisted of the following:

Schedule of Property and Equipment

The Company recorded depreciation expense of $39 and $194 for the years ended December 31, 2025 and 2024, respectively. For the years ended December 31, 2025 and 2024, the Company recorded gains on sale of property and equipment of $676 and $0, respectively.

On May 13, 2025, the Company completed the sale of its cryptocurrency mining and hosting facility located in LaFayette, Georgia to CSRE Properties LLC for total consideration of $1,350. The sale included land, containers, electrical infrastructure, and other improvements associated with the Company’s former hosting and mining operations. At the date of sale, the related assets had a net carrying value of $674, consisting primarily of infrastructure, containers, and land, as shown below:

Schedule of Property and Equipment Carrying Value

In accordance with ASC 360, the Company derecognized the carrying amount of the disposed assets and recorded the sale proceeds, resulting in a gain included in continuing operations. Management evaluated the disposal under ASC 205-20 and determined it does not represent a strategic shift. Therefore, discontinued operations presentation is not required.

Following completion of the sale, the Company continues to own 35 Antminer S19 Pro miners with a carrying amount of property and equipment of $0 as of December 31, 2025.