MGT Capital Investments (MGTI) 10-K 31 Mar 23 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-32698
Entity Registrant Name	MGT CAPITAL INVESTMENTS, INC.
Entity Central Index Key	0001001601
Entity Tax Identification Number	13-4148725
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	150 Fayetteville Street
Entity Address, Address Line Two	Suite 1110
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27601
City Area Code	(914)
Local Phone Number	630–7430
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 4,540,281
Entity Common Stock, Shares Outstanding		723,770,903
ICFR Auditor Attestation Flag	false
Auditor Name	RBSM LLP
Auditor Location	Las Vegas, NV
Auditor Firm ID	587

Balance Sheet

Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 538	$ 1,230
Accounts receivable		180
Prepaid expenses and other current assets	4	125
Intangible digital assets	11
Total current assets	553	1,535
Non-current assets
Property and equipment, at cost, net	1,098	1,229
Right of use asset, operating lease, net of accumulated amortization		55
Investment – convertible debt securities		50
Other assets	3	3
Total assets	1,654	2,872
Current liabilities
Accounts payable	11	211
Accrued expenses and other payables	115	105
Deferred revenue	30
Security deposit		245
Note payable	200
Convertible note payable, net of discount	82
Operating lease liability		35
Warrant derivative liability	1,727	1,130
Derivative liability	3,223
Total current liabilities	5,388	1,726
Non-current liabilities
Operating lease liability long-term		17
Total liabilities	5,388	1,743
Commitments and Contingencies (Note 11)
Stockholders’ (Deficit) Equity
Common stock, $0.001 par value; 2,500,000,000 shares authorized; 703,770,903 and 606,970,903 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively.	704	607
Additional paid-in capital	421,468	420,450
Accumulated deficit	(425,906)	(419,928)
Total stockholders’ (deficit) equity	(3,734)	1,129
Total Liabilities and Stockholders’ (Deficit) Equity	1,654	2,872
Undesignated Preferred Stock [Member]
Stockholders’ (Deficit) Equity
Preferred stock value
Series B Preferred Stock [Member]
Stockholders’ (Deficit) Equity
Preferred stock value
Series C Preferred Stock [Member]
Stockholders’ (Deficit) Equity
Preferred stock value

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares issued	703,770,903	606,970,903
Common stock, shares outstanding	703,770,903	606,970,903
Undesignated Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	8,489,800	8,489,800
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series C Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	200	200
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue
Total revenue	$ 809	$ 883
Operating expenses
Cost of revenue	1,556	906
General and administrative	1,738	1,764
Total operating expenses	3,294	2,670
Operating loss	(2,485)	(1,787)
Other non-operating income (expense)
Interest expense	(23)	(340)
Change in fair value of warrant derivative liability	1,726	955
Change in fair value of derivative liability	984	(79)
Loss on settlement of derivative	(757)	(228)
Accretion of debt discount	(5,406)	(526)
Gain on sale of property and equipment		246
Other income	49	392
Other expense		(306)
Gain on settlement of payables		675
Loss on early termination of land lease	(8)
Loss on disposal of leasehold improvements	(4)
Non-current asset impairment expense	(54)
Loss on settlement of debt		(541)
Total non-operating income (expense)	(3,493)	248
Net loss	$ (5,978)	$ (1,539)
Per-share data
Basic and diluted loss per share	$ (0.01)	$ 0
Weighted average number of common shares outstanding	663,993,369	558,522,919
Bitcoin Mining [Member]
Revenue
Total revenue	$ 169	$ 686
Hosting Services [Member]
Revenue
Total revenue	$ 640	$ 197

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020		$ 507	$ 418,373	$ (418,389)	$ 491
Balance, shares at Dec. 31, 2020	115	506,779,781
Common stock issued on conversion of Preferred C shares		$ 30	(30)
Common stock issued on conversion of Preferred C shares, shares	(115)	29,870,130
Beneficial conversion feature			1,000		1,000
Common stock issued on conversion of notes payable		$ 11	506		517
Common stock issued on conversion of note payable, shares		11,435,288
Issuance of common stock and warrants		$ 35	(10)		25
Issuance of common stock and warrants, shares		35,385,704
Cashless exercise of warrants and extinguishment of related warrant derivative liability		$ 24	611		635
Cashless exercise of warrants and extinguishment of related warrant derivative liability, shares		23,500,000
Net loss				(1,539)	(1,539)
Ending balance, value at Dec. 31, 2021		$ 607	420,450	(419,928)	1,129
Balance, shares at Dec. 31, 2021		606,970,903
Issuance of common stock and warrants		$ 23	164		187
Issuance of common stock and warrants, shares		22,800,000
Cashless exercise of warrants and extinguishment of related warrant derivative liability		$ 74	854		928
Cashless exercise of warrants and extinguishment of related warrant derivative liability, shares		74,000,000
Net loss				(5,978)	(5,978)
Ending balance, value at Dec. 31, 2022		$ 704	$ 421,468	$ (425,906)	$ (3,734)
Balance, shares at Dec. 31, 2022		703,770,903

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flows From Operating Activities
Net loss	$ (5,978)	$ (1,539)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	196	675
Gain on sale of property and equipment		(246)
Loss on settlement of debt		541
Loss on disposal of leasehold improvements	4
Loss on early termination of land lease	8
Change in fair value of warrants		(955)
Change in fair value of warrant derivative liability	(1,726)
Change in fair value of derivative liability	(984)	79
Loss on settlement of derivative	757	228
Non-current asset impairment expense	54
Amortization of note discount	5,406	526
Gain on settlement of payables		(675)
Non-operating expense		306
Non-cash interest expense		270
Change in operating assets and liabilities
Accounts receivable	180	(180)
Prepaid expenses and other current assets	117	(115)
Intangible digital assets	(11)	4
Other assets		120
Operating lease liability	(5)	(3)
Accounts payable	38	(375)
Accrued expenses	10	(66)
Deferred revenue	30
Security deposit	(245)	245
Net cash used in operating activities	(2,149)	(1,160)
Cash Flows From Investing Activities
Purchase of property and equipment	(68)	(212)
Proceeds from sale of property and equipment		426
Purchase of investment		(50)
Net cash provided by (used in) investing activities	(68)	164
Cash Flows From Financing Activities
Proceeds from convertible note payable	1,335	1,000
Proceeds from sale of stock under equity purchase agreement, net of issuance costs	228	990
Repayment of loan payable	(71)
Proceeds from loans payable	33
Net cash provided by financing activities	1,525	1,990
Net change in cash and cash equivalents	(692)	994
Cash and cash equivalents, beginning of year	1,230	236
Cash and cash equivalents, end of year	538	1,230
Supplemental disclosure of cash flow information
Cash paid for interest
Cash paid for income tax
Non-cash investing and financing activities
Conversion of notes payable into common stock		230
Exchange of notes payable to warrants		1,210
Cashless exercise of warrants and extinguishment of related warrant derivative liability	988	635
Discount related to convertible promissory note	1,500
Derivative liabilities related to convertible debt and warrants	6,761
Accounts payable settled with loan payable	38
Accounts payable settled with bank note	200
Beneficial conversion feature		1,000
Conversion of Series C convertible preferred stock into common stock		$ 30

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization The Company is a Delaware corporation incorporated in 2000. MGT was originally incorporated in Utah in 1977. MGT’s corporate office is in Raleigh, North Carolina. Current Operations Cryptocurrency mining MGT conducts cryptocurrency activities at a company-owned and managed Bitcoin mining facility in LaFayette, Georgia. Located adjacent to a utility substation, the several-acre property has access to about 20 megawatts (MW) of electrical power, half of which is presently utilized by the Company. Business activities are comprised of self-mining operations and leasing space to third parties. As of December 31, 2022 and March 31, 2023, the Company owned 175 and 0 Antminer S17 Pro Bitcoin miners (“S17 miners”), respectively, plus 35 Antminer S19 Pro miners as of March 31, 2023. Due to unfavorable mining economics and various required repairs, no S17 miners were operating at December 31, 2022, and we exchanged all remaining S17 miners, as well as loose hash boards, power supplies, and controller boards for the more efficient S19 miners. MGT’s miners are housed in a modified shipping container on the Company’s owned property in Georgia. The entire facility, including the land and improvements, five 2500 KVA 3-phase transformers, three mining containers, and miners, are owned by MGT. We continue to explore ways to grow and maintain our current operations including but not limited to further potential equipment sales and raising capital to acquire the newest generation miners. The Company is also investigating other sites to develop into Bitcoin mining facilities in addition to expansion at its current property. Leasing operations In addition to its self-mining operations, the Company leases its owned space to other Bitcoin miners and also provides hosting services for owners of mining equipment. These measures improve utilization of the electrical infrastructure and better insulate us against the volatility of Bitcoin mining. Basis of presentation The accompanying financial statements for the years ended December 31, 2022 and 2021 have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”). COVID-19 pandemic: The COVID-19 pandemic has disrupted and may continue to disrupt our operations and those of our vendors, suppliers and other third parties on which we rely, and we may not be able to obtain new miners or replacement parts for our existing miners in a timely or cost-effective manner, which could materially and adversely affect our business and results of operations. The extent to which COVID-19 impacts our operations or our ability to obtain financing will depend on future developments which are uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions taken by governments and private businesses to contain COVID-19 to treat its impact, among others. If the disruptions posed by COVID-19 continue for an extended period of time, financial markets may not be available to the Company for raising capital in order to fund future growth. Should the Company not be able to obtain financing in the amounts necessary or under terms which are economically feasible, we may be required to reduce planned future growth and/or the scope of our operations. Inflation Electricity and other prices are vulnerable to inflation which may increase the Company’s mining costs and operating expenses. MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)

Going Concern and Management_s

Going Concern and Management’s Plans	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management’s Plans	Note 2. Going Concern and Management’s Plans The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2022, the Company had incurred significant operating losses since inception and continues to generate losses from operations. As of December 31, 2022, the Company had an accumulated deficit of $ 425,906 538 The Company will require additional funding to grow its operations. Further, depending upon operational profitability, the Company may also need to raise additional funding for ongoing working capital purposes. There can be no assurance however that the Company will be able to raise additional capital when needed, or at terms deemed acceptable, if at all. The Company’s ability to raise additional capital is impacted by the volatility of Bitcoin mining economics and the SEC’s ongoing enforcement action against our Chief Executive Officer, both of which are highly uncertain, cannot be predicted, and could have an adverse effect on the Company’s business and financial condition. Since January 2022, the Company has secured working capital through the issuance of a convertible note, the sale of equity and warrants, and the sale of assets. Such factors raise substantial doubt about the Company’s ability to sustain operations for at least one year from the issuance of these financial statements. The accompanying financial statements do not include any adjustments related to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Use of estimates and assumptions and critical accounting estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of long-lived assets, the fair value of warrants issued, the fair value of conversion features, and the valuation allowance for deferred tax assets. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period that they are determined to be necessary. Cash and cash equivalents The Company considers all highly liquid instruments with an original maturity of three months or less when acquired to be cash equivalents. The Company’s combined accounts were $ 538 1,230 250 37 980 Accounts Receivable Accounts receivable are generally unsecured. The Company establishes an allowance for doubtful accounts receivable based on the age of outstanding invoices and management’s evaluation of collectability. Accounts are written off after all reasonable collection efforts have been exhausted and management concludes that likelihood of collection is remote. Any future recoveries are applied against the allowance for doubtful accounts. As of December 31, 2022 and December 31, 2021, we did not believe we needed to reserve for any doubtful accounts, respectively. MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Cryptocurrencies Cryptocurrencies, (including bitcoin and bitcoin cash) are included in current assets in the accompanying balance sheets. Any cryptocurrencies purchased are recorded at cost and cryptocurrencies awarded to the Company through its mining activities are accounted for in connection with the Company’s revenue recognition policy disclosed in this note. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Any purchases of cryptocurrencies by the Company are included within investing activities in the accompanying statements of cash flows, while cryptocurrencies awarded to the Company through its mining activities are included within operating activities on the accompanying statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the statements of operations. The Company accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting. Halving – The Bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “Halving.” A Halving for bitcoin occurred on May 12, 2020, w ith a revised reward payout of 6.25 Bitcoin per block The following table presents the activities of digital currencies for the years ended December 31, 2022 and 2021: Schedule of Digital Currencies Digital currencies at December 31, 2020 $ 4 Additions of digital currencies from mining 686 Realized gain on sale of digital currencies 1 Sale of digital currencies (691 ) Digital currencies at December 31, 2021 - Additions of digital currencies from mining 169 Realized loss on sale of digital currencies (2 ) Sale of digital currencies (156 ) Digital currencies at December 31, 2022 $ 11 Investment Debt securities are carried at fair value. Realized and unrealized gains and losses, if any, are calculated on the specific identification method and are included in other income in the statements of operations. Investment value is reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable. Should there be an indication of impairment, we test for recoverability by comparing the estimated undiscounted future cash flows expected to result from the investment to the carrying amount of the investment. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight–line method on the various asset classes over their estimated useful lives, which range from one ten years MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Leases The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. Variable lease expenses, if any, are recorded when incurred. Derivative Instruments Derivative financial instruments are recorded in the accompanying balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s statements of operations. Impairment of long-lived assets Long-lived assets are reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable, should there be an indication of impairment, we test for recoverability by comparing the estimated undiscounted future cash flows expected to result from the use of the asset to the carrying amount of the asset or asset group. Any excess of the carrying value of the asset or asset group over its estimated fair value is recognized as an impairment loss. Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly as the company reviews financial information. The Company currently operates in the Digital Currency Blockchain segment with our mining facility located in the United States. The Company also provides hosting services which are also located in the United States. The Company has employees only in the United States and views its operations as one operating segment as management reviews financial information on a consolidated basis in making decisions regarding resource allocations and assessing performance. Revenue recognition Cryptocurrency mining The Company recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: ● Step 1: Identify the contract with the customer ● Step 2: Identify the performance obligations in the contract  ● Step 3: Determine the transaction price   ● Step 4: Allocate the transaction price to the performance obligations in the contract   ● Step 5: Recognize revenue when the Company satisfies a performance obligation   MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following: ● Variable consideration   ● Constraining estimates of variable consideration   ● The existence of a significant financing component in the contract   ● Noncash consideration   ● Consideration payable to a customer   Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate. The Company has entered into digital asset mining pools by agreeing to terms and conditions, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the Blockchain. The terms of the agreement provide that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power to solve complex cryptographic algorithms in support of the Bitcoin Blockchain (in a process known as “solving a block”) is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s agreements with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the Financial Accounting Standards Board (“FASB”), the Company may be required to change its policies, which could have an effect on the Company’s financial position and results from operations. MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Hosting Revenues We receive revenues from third parties renting capacity at our facility and from hosting miners owned by others. The Company recognized $ 640 197 83 95 Other Income Other income for the year ended December 31, 2022 consisted of a commercial vendor settlement and the sale of some spare parts. Other income for the year ended December 31, 2021 consisted of POD5 royalties and the sale of spare parts. Gain (Loss) on Modification/Extinguishment of Debt In accordance with ASC 470, a modification or an exchange of debt instruments that adds or eliminates a conversion option that was substantive at the date of the modification or exchange is considered a substantive change and is measured and accounted for as extinguishment of the original instrument along with the recognition of a gain or loss. Additionally, under ASC 470, a substantive modification of a debt instrument is deemed to have been accomplished with debt instruments that are substantially different if the present value of the cash flows under the terms of the new debt instrument is at least 10 percent different from the present value of the remaining cash flows under the terms of the original instrument. A substantive modification is accounted for as an extinguishment of the original instrument along with the recognition of a gain or loss. Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. Loss per share Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants, stock options, convertible debt and convertible preferred stock are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss. Accordingly, the computation of diluted loss per share for the year ended December 31, 2022 excludes 682,563,502 335,293,895 74,614,871 Fair Value Measure and Disclosures ASC 820 “Fair Value Measurements and Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: ● Level 1 Quoted prices in active markets for identical assets or liabilities. ● Level 2 Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly. ● Level 3 Significant unobservable inputs that cannot be corroborated by market data. As of December 31, 2022, the Company had a Level 3 financial instrument related to the warrant derivative liability. As of December 31, 2021, the Company had a Level 3 financial instrument related to the derivative liability and investment – convertible debt securities. Management’s evaluation of subsequent events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 14 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the financial statements. Reclassification Certain prior years balances have been reclassified to conform to current year presentation. These reclassifications had no effect on the reported results of operations. Recent accounting pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements, other than those disclosed below. In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU’s amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts Receivable	Note 4. Accounts Receivable There was no 180 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)

Property and Equipment and Othe

Property and Equipment and Other Assets	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment and Other Assets	Note 5. Property and Equipment and Other Assets Property and equipment consisted of the following: Schedule of Property and Equipment December 31, 2022 December 31, 2021 As of December 31, 2022 December 31, 2021 Land $ 55 $ 55 Computer hardware and software 10 10 Bitcoin mining machines 274 910 Infrastructure 1,185 1,117 Containers 403 403 Leasehold improvements - 4 Property and equipment, gross 1,927 2,499 Less: Accumulated depreciation (829 ) (1,270 ) Property and equipment, net $ 1,098 $ 1,229 The Company recorded depreciation expense of $ 196 675 4 246 Other assets consisted of the following: Schedule of Other Assets December 31, 2022 December 31, 2021 As of December 31, 2022 December 31, 2021 Security deposits $ 3 $ 3 Interest receivable - - Other Assets $ 3 $ 3 The Company paid $ 120 3 120

Investment _ Convertible Debt S

Investment – Convertible Debt Securities	12 Months Ended
	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Investment – Convertible Debt Securities	Note 6. Investment – Convertible Debt Securities In December 2021, the Company invested $ 50 8 December 31, 2024 5 50 4

Convertible Note Payable, Net o

Convertible Note Payable, Net of Discount	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Convertible Note Payable, Net of Discount	Note 7. Convertible Note Payable, Net of Discount December 2020 Note On December 8, 2020, the Company entered into a securities purchase agreement pursuant to which it issued a convertible promissory note in the principal amount of $ 230 70 200 8 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature and a derivative liability which is accounted for separately. The Company measured the beneficial conversion feature’s intrinsic value on December 8, 2020 and determined that the beneficial conversion feature was valued at $ 200 30 230 555 355 355 On June 15, 2021, the holder converted $ 120 4,761,905 238 172 86 32 On July 27, 2021, the holder converted the remaining $ 110 11 6,673,384 280 153 66 72 March 2021 Note On March 5, 2021, the Company entered into a securities purchase agreement with Bucktown Capital, LLC (the “Investor”), pursuant to which the Company issued a convertible promissory note in the original principal amount of $ 13,210 70 0.04 8 The March 2021 Note was to be funded in tranches, with the initial tranche of $ 1,210 1,000 1,200 6,000 The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature. The Company measured the beneficial conversion feature’s intrinsic value on March 5, 2021 and determined that the beneficial conversion feature was valued at $ 1,000 210 1,210 As a result of the Company failing to meet certain registration requirements under the March 2021 Note, the outstanding balance of the March 2021 Note was automatically increased by 5 5 270 1,481 On September 30, 2021, the Company entered into an exchange agreement with the March 2021 Note holder under which the outstanding principal balance of $ 1,481 60 53,500,000 1,481 60 758 1,221 438 0.025 0.98 176.1 no September 2022 Note On September 12, 2022, the Company entered into a securities purchase agreement, pursuant to which the Company received $ 1,335 1,500 165 30 December 31, 2023 6 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) At inception the Company recorded a debt discount of $ 1,500 5,324 82 5,406 526 Additionally, the Company issued to the lender three series of warrants (collectively, the “Warrants”). Each of the Series of Warrants is exercisable into 60 ● Series X Warrant, the lower of $0.02 and 120% of the closing price on the date of exercise; ● Series Y Warrant, the lower of $0.04 and 150% of the closing price on the date of exercise; and ● Series Z Warrant, the lower of $0.06 and 200% of the closing price on the date of exercise. The Company has previous warrants outstanding whereby it cannot conclude that it has enough authorized and unissued shares to satisfy the settlement requirements for those already outstanding warrants. As a result, the equity environment would be considered tainted, and the conversion feature and the attached warrants are treated as derivative liabilities. Derivative Liability The Company valued the derivative liability relating to the embedded conversion feature using the Monte Carlo Simulation Method because of the unknown stock price at the future time of conversion. The Monte Carlo Simulation was calculated using the following assumptions: Schedule of Monte Carlo Simulation Assumption September 12, 2022 December 31, 2022 Stock price $ 0.006 $ 0.004 Term (years) 1.30 1.00 Annual volatility 143.91 % 152.48 % Annual expected return 8.77 % 11.89 % Discount rate 3.60 % 4.73 % Dividend yield 0 % 0 % The Company’s activity in its convertible debt related derivative liability was as follows for the year ended December 31, 2022: Schedule of Derivative Liability Activity Balance of derivative liability at January 1, 2022 $ - Transfer in due to issuance of convertible promissory note with embedded conversion features 4,207 Change in fair value of derivative liability (984 ) Balance of derivative liability at December 31, 2022 $ 3,223 As of December 31, 2022, the fair value of the derivative liability was $ 3,223 984 Warrant Derivative Liabilities As of December 31, 2022, the fair value of the warrant derivative liabilities was $ 1,727 1,726 0.004 0.03 0.12 2.60 3.56 0 4.22 166.3 174.3 0.004 2.70 0 4.22 174 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The Company’s activity in its derivative liabilities was as follows for the year ended December 31, 2022: Schedule of Warrant Derivative Liabilities Balance of derivative liability at January 1, 2021 $ 246 Transfer in due to issuance of warrants with embedded conversion features 2,492 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (732 ) Change in fair value of warrant liability (955 ) Change in fair value of derivative liability 79 Balance of derivative liability at December 31, 2021 1,130 Transfer in due to issuance of warrants with embedded conversion features 2,554 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (231 ) Change in fair value of warrant liability (1,726 ) Balance of warrant derivative liabilities at December 31, 2022 $ 1,727 The Company recorded loss on settlement of derivative liability in the amount of $ 757 228 Fluctuations in the Company’s stock price are a primary driver for the changes in the derivative valuations during each reporting period. As the stock price increases for each of the related derivative instruments, the value to the holder of the instrument generally increases, therefore increasing the liability on the Company’s balance sheet. Additionally, stock price volatility is one of the significant unobservable inputs used in the fair value measurement of each of the Company’s derivative instruments. The simulated fair value of these liabilities is sensitive to changes in the Company’s expected volatility. Increases in expected volatility would generally result in higher fair value measurement. A 10% change in pricing inputs and changes in volatilities and correlation factors would not result in a material change in our Level 3 fair value. Schedule of Derivative Liability Fair Value Level 1 Level 2 Level 3 Fair Value December 31, 2022 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 3,223 $ 3,223 Warrant derivative liability $ - $ - $ 1,727 $ 1,727 Level 1 Level 2 Level 3 Fair Value December 31, 2021 Level 1 Level 2 Level 3 Fair Value Assets Investment – convertible debt securities $ - $ - $ 50 $ - Liabilities Warrant Derivative liability $ - $ - $ 1,130 $ 1,130

Loans Payable

Loans Payable	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Loans Payable	Note 8. Loans Payable The Company received $ 71 7 As part of a payment to the City of LaFayette, the bank erroneously created a note payable in the amount of $ 200 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases
Leases	Note 9. Leases In December 2019, the Company entered a new office lease in connection with the relocation of its executive office to Raleigh, North Carolina. The Company accounted for its new office lease as an operating lease under the guidance of Topic 842. Rent expense under the new lease is $ 3 3 29.91 79 79 On November 1, 2021, the Company entered into a lease agreement to lease a contiguous portion of land to its existing property, as a planting area for trees intended to mitigate noise from the Company’s cryptocurrency mining operations. The agreement calls for yearly installments of $3 for the first five years, with an option to extend this lease for another five-year period at a rate not to exceed 105% of the current lease payment. On each anniversary date, the Company will pay $3 in advance, with payment for the first year paid upon execution of the lease 8.0 22 22 8 The Company recorded rent expense of $ 43 37

Common Stock, Preferred Stock a

Common Stock, Preferred Stock and Warrants	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Common Stock, Preferred Stock and Warrants	Note 10. Common Stock, Preferred Stock and Warrants Common stock Common Stock Issuances In connection with the conversion of 115 29,870,130 During the year ended December 31, 2022, in connection with the conversions of the December 2020 convertible note payable (see Note 7), the Company issued 11,435,288 On July 21, 2021, as part of a corporate fundraising of $ 990 35,385,703 35,385,703 During the year ended December 31, 2021, 14,270,833 23,500,000 On August 5, 2022, the Company issued 22,800,000 22,800,000 228 During the year ended December 31, 2022, 18,380,379 74,000,000 Preferred Stock In January 2019, the Company’s Board of Directors approved the authorization of 10,000 0.001 100 12 Each holder shall also be entitled to vote on all matters submitted to stockholders of the Company and shall be entitled to 55,000 votes for each Series B Preferred Share owned at the record date for the determination of stockholders entitled to vote on such matter or, if no such record date is established, at the date such vote is taken or any written consent of stockholders is solicited. In the event of a liquidation event, any holders of the Series B Preferred Shares shall be entitled to receive, for each Series B Preferred Shares, the Stated Value in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its stockholders MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) In April 2019, the Company’s Board of Directors approved the authorization of 200 0.001 The holders of the Series C Preferred Shares have no voting rights, receive no dividends, and are entitled to a liquidation preference equal to the stated value. At any time, the Company may redeem the Series C Preferred Shares at 1.2 times the stated value Each Series C Preferred Share is convertible into shares of the Company’s common stock in an amount equal to the greater of: (a) 200,000 shares of common stock or (b) the amount derived by dividing the stated value by the product of 0.7 times the market price of the Company’s common stock, defined as the lowest trading price of the Company’s common stock during the ten day period preceding the conversion date. The holder may not convert any Series C Preferred Shares if the total amount of shares held, together with holdings of its affiliates, following a conversion exceeds 9.99% of the Company’s common stock The common shares issued upon conversion of the Series C Preferred Shares were registered under the Company’s then-effective registration statement on Form S-3. In April and July 2019, the Company sold 200 1,990 50 14,077,092 35 13,528,575 115 115 29,870,130 Warrants On July 21, 2021, as part of a corporate fundraising, the Company issued 35,385,703 35,385,703 1,271 306 On September 30, 2021, the Company exchanged the outstanding principal of $ 1,481 60 53,500,000 During the year ended December 31, 2021, 14,270,833 23,500,000 406 23,500,000 635 228 0.017 0.043 0.05 4.2 4.3 0 1.19 1.33 175.7 177.2 On August 5, 2022, the Company sold 22,800,000 7,600,0000 228,000 0.03 0.06 0.12 During the year ended December 31, 2022, 18,380,379 74,000,000 231 74,000,000 988 757 0.007 0.019 0.05 3.5 4.2 0 1.53 3.79 169.28 175.6 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The following table summarizes information about shares issuable under warrants outstanding during the year ended December 31, 2022: Summary of Warrants Outstanding Warrant Weighted Weighted average remaining life Intrinsic value Outstanding at January 1, 2021 - $ - - - Issued 88,885,704 0.05 5.0 - Exercised (14,270,833 ) 0.05 - - Expired or cancelled - - - Outstanding and exercisable at December 31, 2021 74,614,871 0.05 4.47 - Issued 626,329,010 0.07 3.00 - Exercised (18,380,379 ) 0.05 - Outstanding and exercisable at December 31, 2022 682,563,502 $ 0.06 3.18 $ - (*) Of the 626,329,010 682,563,502 603,529,010

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Bitcoin Production Equipment and Operations In August 2018, the Company entered a collaborative venture with Bit5ive, LLC to develop a fully contained crypto currency mining pod (the “POD5 Agreement”) for a term of five years. Pursuant to the POD5 Agreement, the Company assists with the design and development of the POD5 Containers. The Company retains naming rights to the pods and receives royalty payments from Bit5ive, LLC in exchange for providing capital as well as engineering and design expertise. During the years ended December 31, 2022 and 2021, the Company recognized revenue of $ 0 328 Electricity Contract MGT’s prior electricity agreement with the City of LaFayette expired on September 30, 2021. The Company and City of LaFayette are currently operating on a month-to-month basis without a contract.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes Significant components of deferred tax assets were as follows: Schedule of Components of Deferred Tax Assets 2022 2021 As of December 31, 2022 2021 U.S. federal tax loss carry–forward $ 18,349 $ 17,749 U.S. State tax loss carry–forward 304 298 Equity based compensation 8,567 8,289 Fixed assets, intangible assets and goodwill (50 ) 6 Accruals 12 9 Long-term investments (7 ) (6 ) Total deferred tax assets 27,175 26,344 Less: valuation allowance (27,175 ) (26,344 ) Net deferred tax asset $ — $ — As of December 31, 2022, the Company had the following tax attributes: Summary of Operating Loss Carryforwards Amount Begins to U.S. federal net operating loss carry–forwards $ 87,375 Fiscal 2023 U.S. State net operating loss carry–forwards - Georgia 6,689 Unlimited U.S. State net operating loss carry–forwards - North Carolina 7,955 Fiscal 2031 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2022 and 2021 is as follows: Schedule of Effective Income Tax Rate Reconciliation 2022 2021 As of December 31, 2022 2021 Expected Federal Tax -21.0 % -21.0 % State income taxes (net of federal benefit) -1.9 % -1.7 % Permanent adjustments 12.3 % -2.0 % True up of prior year deferred tax assets -0.7 % 4.7 % Change in state tax rate -2.6 % -48.3 % Change in valuation allowance 13.9 % 64.3 % Effective tax rate 0.0 % 0.0 % As it is not more likely than not that the resulting deferred tax benefits will be realized, a full valuation allowance has been recognized for such deferred tax assets. For the year ended December 31, 2022, the valuation allowance increased by $831. Federal and state laws impose substantial restrictions on the utilization of tax attributes in the event of an “ownership change,” as defined in Section 382 of the Internal Revenue Code. As of December 31, 2022, the Company performed a high-level review of its changes in ownership and determined that a change of control event likely occurred under Section 382 of the Internal Revenue Code and the Company’s net operating loss carryforwards are likely to be limited. The Company has adopted the provisions of ASC 740-10-25, which provides recognition criteria and a related measurement model for uncertain tax positions taken or expected to be taken in income tax returns. ASC 740-10-25 requires that a position taken or expected to be taken in a tax return be recognized in the financial statements when it is more likely than not that the position would be sustained upon examination by tax authorities. Tax positions that meet the more likely than not threshold are then measured using a probability weighted approach recognizing the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company had no tax positions relating to open income tax returns that were considered to be uncertain. The Company files income tax returns in the U.S. federal jurisdiction, and Georgia jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non–U.S. income tax examinations by tax authorities for years before 2016.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 13. Employee Benefit Plans The Company maintains defined contribution benefit plans under Section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the “401(k) Plan”). Under the 401(k) Plan, the Company may make discretionary contributions of up to 100 10 10

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events From January 1, 2023 through March 31, 2023, a total of 4,157,044 20,000,000 On March 1, 2023, we exchanged all remaining S17 miners, as well as loose hash boards, power supplies, and controller boards for the more efficient S19 miners. On March 16, 2023, the Company entered into a partnership and lease agreement with another cryptocurrency mining company. Pursuant to the agreement, the Company agreed to lease portions of the Company’s mining facility in Lafayette, GA together with related utilities access including electricity, for deploying mining equipment, in exchange for rental payments and payment of the electricity costs and deposit requirements arising from the leased premises. In connection with the agreement, tenant agreed to make an initial deposit of $ 229 Pursuant to the agreement, the Company agreed to issue the tenant 500,000 shares its common stock per month for each defined rented Space (the “Monthly Issuances”), and to also issue an additional number of shares of common stock annually equal to 100% of the Monthly Issuances for the applicable year. Further, pursuant to the agreement, the Company provided the tenant with the option to lend the Company up to $1 million, evidenced by a convertible promissory note that is convertible into 25% of the Company’s outstanding common stock, assuming all $1 million is lent, on a pro-forma, post-issuance basis, together with an accompanying warrant to purchase 60% of the shares of common stock underlying the note. The terms of the note and warrant would be substantially similar to the terms of the note and accompanying warrant that were issued by the Company on or about September 12, 2022. If the option is exercised, the parties may elect to substitute the $1 million purchase price, in whole or in part,with equipment and infrastructure improvements to enable the Company to have access to an additional up to 10 MWs of electricity to the facility’s currently available electrical power capacity. The Company’s facility currently has electrical capacity of up to 10 MW. The agreement has a term of 24 months.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Use of estimates and assumptions and critical accounting estimates and assumptions	Use of estimates and assumptions and critical accounting estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, determining the potential impairment of long-lived assets, the fair value of warrants issued, the fair value of conversion features, and the valuation allowance for deferred tax assets. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period that they are determined to be necessary.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid instruments with an original maturity of three months or less when acquired to be cash equivalents. The Company’s combined accounts were $ 538 1,230 250 37 980
Accounts Receivable	Accounts Receivable Accounts receivable are generally unsecured. The Company establishes an allowance for doubtful accounts receivable based on the age of outstanding invoices and management’s evaluation of collectability. Accounts are written off after all reasonable collection efforts have been exhausted and management concludes that likelihood of collection is remote. Any future recoveries are applied against the allowance for doubtful accounts. As of December 31, 2022 and December 31, 2021, we did not believe we needed to reserve for any doubtful accounts, respectively. MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)
Cryptocurrencies	Cryptocurrencies Cryptocurrencies, (including bitcoin and bitcoin cash) are included in current assets in the accompanying balance sheets. Any cryptocurrencies purchased are recorded at cost and cryptocurrencies awarded to the Company through its mining activities are accounted for in connection with the Company’s revenue recognition policy disclosed in this note. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Any purchases of cryptocurrencies by the Company are included within investing activities in the accompanying statements of cash flows, while cryptocurrencies awarded to the Company through its mining activities are included within operating activities on the accompanying statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the statements of operations. The Company accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting. Halving – The Bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “Halving.” A Halving for bitcoin occurred on May 12, 2020, w ith a revised reward payout of 6.25 Bitcoin per block The following table presents the activities of digital currencies for the years ended December 31, 2022 and 2021: Schedule of Digital Currencies Digital currencies at December 31, 2020 $ 4 Additions of digital currencies from mining 686 Realized gain on sale of digital currencies 1 Sale of digital currencies (691 ) Digital currencies at December 31, 2021 - Additions of digital currencies from mining 169 Realized loss on sale of digital currencies (2 ) Sale of digital currencies (156 ) Digital currencies at December 31, 2022 $ 11
Investment	Investment Debt securities are carried at fair value. Realized and unrealized gains and losses, if any, are calculated on the specific identification method and are included in other income in the statements of operations. Investment value is reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable. Should there be an indication of impairment, we test for recoverability by comparing the estimated undiscounted future cash flows expected to result from the investment to the carrying amount of the investment.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight–line method on the various asset classes over their estimated useful lives, which range from one ten years MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)
Leases	Leases The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. Variable lease expenses, if any, are recorded when incurred.
Derivative Instruments	Derivative Instruments Derivative financial instruments are recorded in the accompanying balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s statements of operations.
Impairment of long-lived assets	Impairment of long-lived assets Long-lived assets are reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable, should there be an indication of impairment, we test for recoverability by comparing the estimated undiscounted future cash flows expected to result from the use of the asset to the carrying amount of the asset or asset group. Any excess of the carrying value of the asset or asset group over its estimated fair value is recognized as an impairment loss.
Segment Reporting	Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly as the company reviews financial information. The Company currently operates in the Digital Currency Blockchain segment with our mining facility located in the United States. The Company also provides hosting services which are also located in the United States. The Company has employees only in the United States and views its operations as one operating segment as management reviews financial information on a consolidated basis in making decisions regarding resource allocations and assessing performance.
Revenue recognition	Revenue recognition Cryptocurrency mining The Company recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: ● Step 1: Identify the contract with the customer ● Step 2: Identify the performance obligations in the contract  ● Step 3: Determine the transaction price   ● Step 4: Allocate the transaction price to the performance obligations in the contract   ● Step 5: Recognize revenue when the Company satisfies a performance obligation   MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following: ● Variable consideration   ● Constraining estimates of variable consideration   ● The existence of a significant financing component in the contract   ● Noncash consideration   ● Consideration payable to a customer   Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate. The Company has entered into digital asset mining pools by agreeing to terms and conditions, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the Blockchain. The terms of the agreement provide that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power to solve complex cryptographic algorithms in support of the Bitcoin Blockchain (in a process known as “solving a block”) is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s agreements with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the Financial Accounting Standards Board (“FASB”), the Company may be required to change its policies, which could have an effect on the Company’s financial position and results from operations. MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Hosting Revenues We receive revenues from third parties renting capacity at our facility and from hosting miners owned by others. The Company recognized $ 640 197 83 95
Other Income	Other Income Other income for the year ended December 31, 2022 consisted of a commercial vendor settlement and the sale of some spare parts. Other income for the year ended December 31, 2021 consisted of POD5 royalties and the sale of spare parts.
Gain (Loss) on Modification/Extinguishment of Debt	Gain (Loss) on Modification/Extinguishment of Debt In accordance with ASC 470, a modification or an exchange of debt instruments that adds or eliminates a conversion option that was substantive at the date of the modification or exchange is considered a substantive change and is measured and accounted for as extinguishment of the original instrument along with the recognition of a gain or loss. Additionally, under ASC 470, a substantive modification of a debt instrument is deemed to have been accomplished with debt instruments that are substantially different if the present value of the cash flows under the terms of the new debt instrument is at least 10 percent different from the present value of the remaining cash flows under the terms of the original instrument. A substantive modification is accounted for as an extinguishment of the original instrument along with the recognition of a gain or loss.
Income taxes	Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.
Loss per share	Loss per share Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants, stock options, convertible debt and convertible preferred stock are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss. Accordingly, the computation of diluted loss per share for the year ended December 31, 2022 excludes 682,563,502 335,293,895 74,614,871
Fair Value Measure and Disclosures	Fair Value Measure and Disclosures ASC 820 “Fair Value Measurements and Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: ● Level 1 Quoted prices in active markets for identical assets or liabilities. ● Level 2 Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly. ● Level 3 Significant unobservable inputs that cannot be corroborated by market data. As of December 31, 2022, the Company had a Level 3 financial instrument related to the warrant derivative liability. As of December 31, 2021, the Company had a Level 3 financial instrument related to the derivative liability and investment – convertible debt securities.
Management’s evaluation of subsequent events	Management’s evaluation of subsequent events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 14 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the financial statements.
Reclassification	Reclassification Certain prior years balances have been reclassified to conform to current year presentation. These reclassifications had no effect on the reported results of operations.
Recent accounting pronouncements	Recent accounting pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements, other than those disclosed below. In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU’s amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Digital Currencies	The following table presents the activities of digital currencies for the years ended December 31, 2022 and 2021: Schedule of Digital Currencies Digital currencies at December 31, 2020 $ 4 Additions of digital currencies from mining 686 Realized gain on sale of digital currencies 1 Sale of digital currencies (691 ) Digital currencies at December 31, 2021 - Additions of digital currencies from mining 169 Realized loss on sale of digital currencies (2 ) Sale of digital currencies (156 ) Digital currencies at December 31, 2022 $ 11

Property and Equipment and Ot_2

Property and Equipment and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Schedule of Property and Equipment December 31, 2022 December 31, 2021 As of December 31, 2022 December 31, 2021 Land $ 55 $ 55 Computer hardware and software 10 10 Bitcoin mining machines 274 910 Infrastructure 1,185 1,117 Containers 403 403 Leasehold improvements - 4 Property and equipment, gross 1,927 2,499 Less: Accumulated depreciation (829 ) (1,270 ) Property and equipment, net $ 1,098 $ 1,229
Schedule of Other Assets	Other assets consisted of the following: Schedule of Other Assets December 31, 2022 December 31, 2021 As of December 31, 2022 December 31, 2021 Security deposits $ 3 $ 3 Interest receivable - - Other Assets $ 3 $ 3

Convertible Note Payable, Net_2

Convertible Note Payable, Net of Discount (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Monte Carlo Simulation Assumption	Schedule of Monte Carlo Simulation Assumption September 12, 2022 December 31, 2022 Stock price $ 0.006 $ 0.004 Term (years) 1.30 1.00 Annual volatility 143.91 % 152.48 % Annual expected return 8.77 % 11.89 % Discount rate 3.60 % 4.73 % Dividend yield 0 % 0 %
Schedule of Derivative Liability Activity	The Company’s activity in its convertible debt related derivative liability was as follows for the year ended December 31, 2022: Schedule of Derivative Liability Activity Balance of derivative liability at January 1, 2022 $ - Transfer in due to issuance of convertible promissory note with embedded conversion features 4,207 Change in fair value of derivative liability (984 ) Balance of derivative liability at December 31, 2022 $ 3,223
Schedule of Warrant Derivative Liabilities	The Company’s activity in its derivative liabilities was as follows for the year ended December 31, 2022: Schedule of Warrant Derivative Liabilities Balance of derivative liability at January 1, 2021 $ 246 Transfer in due to issuance of warrants with embedded conversion features 2,492 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (732 ) Change in fair value of warrant liability (955 ) Change in fair value of derivative liability 79 Balance of derivative liability at December 31, 2021 1,130 Transfer in due to issuance of warrants with embedded conversion features 2,554 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (231 ) Change in fair value of warrant liability (1,726 ) Balance of warrant derivative liabilities at December 31, 2022 $ 1,727
Schedule of Derivative Liability Fair Value	Schedule of Derivative Liability Fair Value Level 1 Level 2 Level 3 Fair Value December 31, 2022 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 3,223 $ 3,223 Warrant derivative liability $ - $ - $ 1,727 $ 1,727 Level 1 Level 2 Level 3 Fair Value December 31, 2021 Level 1 Level 2 Level 3 Fair Value Assets Investment – convertible debt securities $ - $ - $ 50 $ - Liabilities Warrant Derivative liability $ - $ - $ 1,130 $ 1,130

Common Stock, Preferred Stock_2

Common Stock, Preferred Stock and Warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Summary of Warrants Outstanding	The following table summarizes information about shares issuable under warrants outstanding during the year ended December 31, 2022: Summary of Warrants Outstanding Warrant Weighted Weighted average remaining life Intrinsic value Outstanding at January 1, 2021 - $ - - - Issued 88,885,704 0.05 5.0 - Exercised (14,270,833 ) 0.05 - - Expired or cancelled - - - Outstanding and exercisable at December 31, 2021 74,614,871 0.05 4.47 - Issued 626,329,010 0.07 3.00 - Exercised (18,380,379 ) 0.05 - Outstanding and exercisable at December 31, 2022 682,563,502 $ 0.06 3.18 $ - (*) Of the 626,329,010 682,563,502 603,529,010

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Deferred Tax Assets	Significant components of deferred tax assets were as follows: Schedule of Components of Deferred Tax Assets 2022 2021 As of December 31, 2022 2021 U.S. federal tax loss carry–forward $ 18,349 $ 17,749 U.S. State tax loss carry–forward 304 298 Equity based compensation 8,567 8,289 Fixed assets, intangible assets and goodwill (50 ) 6 Accruals 12 9 Long-term investments (7 ) (6 ) Total deferred tax assets 27,175 26,344 Less: valuation allowance (27,175 ) (26,344 ) Net deferred tax asset $ — $ —
Summary of Operating Loss Carryforwards	As of December 31, 2022, the Company had the following tax attributes: Summary of Operating Loss Carryforwards Amount Begins to U.S. federal net operating loss carry–forwards $ 87,375 Fiscal 2023 U.S. State net operating loss carry–forwards - Georgia 6,689 Unlimited U.S. State net operating loss carry–forwards - North Carolina 7,955 Fiscal 2031
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2022 and 2021 is as follows: Schedule of Effective Income Tax Rate Reconciliation 2022 2021 As of December 31, 2022 2021 Expected Federal Tax -21.0 % -21.0 % State income taxes (net of federal benefit) -1.9 % -1.7 % Permanent adjustments 12.3 % -2.0 % True up of prior year deferred tax assets -0.7 % 4.7 % Change in state tax rate -2.6 % -48.3 % Change in valuation allowance 13.9 % 64.3 % Effective tax rate 0.0 % 0.0 %

Going Concern and Management__2

Going Concern and Management’s Plans (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 425,906	$ 419,928
Cash and cash equivalents	$ 538	$ 1,230

Schedule of Digital Currencies

Schedule of Digital Currencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Digital currencies, Beginning balance		$ 4
Additions of digital currencies from mining	169	686
Realized gain on sale of digital currencies	(2)	1
Sale of digital currencies	(156)	(691)
Digital currencies, Ending balance	$ 11

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Product Information [Line Items]
Cash and cash equivalents	$ 538	$ 1,230
Cash, FDIC uninsured amount	$ 37	$ 980
Warrant [Member]
Product Information [Line Items]
Computation of earnings per share	682,563,502	74,614,871
Convertible Notes Payable [Member]
Product Information [Line Items]
Computation of earnings per share	335,293,895
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Product Information [Line Items]
Concentration risk percentage	83%	95%
Hosting Miners [Member]
Product Information [Line Items]
Revenues	$ 640	$ 197
Maximum [Member]
Product Information [Line Items]
Cash, FDIC insured amount	$ 250
Property, Plant and Equipment, Useful Life	10 years
Minimum [Member]
Product Information [Line Items]
Property, Plant and Equipment, Useful Life	1 year

Accounts Receivable (Details Na

Accounts Receivable (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable, net		$ 180

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,927	$ 2,499
Less: Accumulated depreciation	(829)	(1,270)
Property and equipment, net	1,098	1,229
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	55	55
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10	10
Bitcoin Mining Machines [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	274	910
Infrastructures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,185	1,117
Containers [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	403	403
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 4

Schedule of Other Assets (Detai

Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Security deposits	$ 3	$ 3
Interest receivable
Other Assets	$ 3	$ 3

Property and Equipment and Ot_3

Property and Equipment and Other Assets (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Depreciation expense	$ 196	$ 675
Finance lease impairment loss	4
Gains on sale of property and equipment		246
Security deposit	3	3
Office Lease [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Security deposit	3
Electrical Contract [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Security deposit	$ 120	$ 120

Investment _ Convertible Debt_2

Investment – Convertible Debt Securities (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net Investment Income [Line Items]
Non current impairment expense	$ 50
Interest receivable on non current impairment expense	$ 4
Convertible Promissory Note [Member]
Net Investment Income [Line Items]
Investment owned, at fair value		$ 50
Bears annual interest rate, percentage		8%
Investment interest rate		5%

Schedule of Monte Carlo Simulat

Schedule of Monte Carlo Simulation Assumption (Details) - Monte Carlo Simulation [Member]		12 Months Ended
	Sep. 12, 2022 $ / shares	Dec. 31, 2022 $ / shares
Credit Derivatives [Line Items]
Stock price	$ 0.006	$ 0.004
Measurement Input, Expected Term [Member]
Credit Derivatives [Line Items]
Term (years)	1 year 3 months 18 days	1 year
Measurement Input, Option Volatility [Member]
Credit Derivatives [Line Items]
Debt measurement input	143.91	152.48
Measurement Input Annual Expected Return [Member]
Credit Derivatives [Line Items]
Debt measurement input	8.77	11.89
Measurement Input, Discount Rate [Member]
Credit Derivatives [Line Items]
Debt measurement input	3.60	4.73
Measurement Input, Expected Dividend Rate [Member]
Credit Derivatives [Line Items]
Debt measurement input	0	0

Schedule of Derivative Liabilit

Schedule of Derivative Liability Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Balance of derivative liabilities
Transfer in due to issuance of convertible promissory note with embedded conversion features	4,207
Change in fair value of derivative liability	(984)	$ 79
Balance of derivative liabilities	$ 3,223

Schedule of Warrant Derivative

Schedule of Warrant Derivative Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Balance of warrant derivative liabilities	$ 1,130	$ 246
Transfer in due to issuance of warrants with embedded conversion features	2,554	2,492
Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions	(231)	(732)
Change in fair value of warrant liability	(1,726)	(955)
Change in fair value of derivative liability		79
Balance of warrant derivative liabilities	$ 1,727	$ 1,130

Schedule of Derivative Liabil_2

Schedule of Derivative Liability Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Derivative liability	$ 3,223
Warrant Derivative liability	1,727	$ 1,130
Assets Investment – convertible debt securities
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability
Warrant Derivative liability
Assets Investment – convertible debt securities
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability
Warrant Derivative liability
Assets Investment – convertible debt securities
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability	3,223
Warrant Derivative liability	$ 1,727	1,130
Assets Investment – convertible debt securities		$ 50

Convertible Note Payable, Net_3

Convertible Note Payable, Net of Discount (Details Narrative) $ / shares in Units, $ in Thousands										1 Months Ended		12 Months Ended
	Sep. 12, 2022 USD ($)	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 05, 2021	Aug. 05, 2021	Jul. 27, 2021 USD ($) shares	Jul. 05, 2021	Jun. 15, 2021 USD ($) shares	Mar. 05, 2021 USD ($) $ / shares	Dec. 08, 2020 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares
Short-Term Debt [Line Items]
Derivative liability										$ 3,223		$ 3,223
Interest expense												23	340
Debt instrument converted into common stock, value													517
Loss on settlement of debt													541
Class of warrant or right, number of securities called by warrants or rights | shares										603,529,010		603,529,010
Proceeds from notes payable												$ 1,335	1,000
Discount related to convertible promissory note												1,500
Interest on accretion of debt discount												5,324
Additional accretion of debt discount										$ 82		82
Accretion of debt discount												5,406	526
Change in fair value of derivative warrant liability												984	(79)
Fair value of derivative liability										$ 1,727		1,727
Gain loss on change in fair value of warrants												1,726
[custom:GainLossOnSettlementOfDerivative]												757	228
Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument, conversion ratio	0.60
Change in fair value of derivative warrant liability												231	406
[custom:GainLossOnSettlementOfDerivative]												$ (757)	$ (228)
Warrant [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Share Price | $ / shares										$ 0.007		$ 0.007	$ 0.017
Warrant [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Share Price | $ / shares										0.019		0.019	$ 0.043
Measurement Input, Share Price [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Share Price | $ / shares										$ 0.004		$ 0.004
Measurement Input, Discount Rate [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument measurement input term										2 years 8 months 12 days
Measurement Input, Price Volatility [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										174		174
Measurement Input, Expected Dividend Rate [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										0		0
Measurement Input, Risk Free Interest Rate [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										4.22		4.22
Securities Purchase Agreement [Member]
Short-Term Debt [Line Items]
Interest rate	6%
Original issue discount	$ 165
Principal amount	1,500
Proceeds from notes payable	$ 1,335
Convertible outstanding shares percentage	30%
Maturity date	Dec. 31, 2023
Security Purchase Agreement [Member] | Measurement Input, Expected Dividend Rate [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										0		0
Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Debt discount								$ 1,000
Convertible Promissory Note [Member] | Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Share Price | $ / shares										$ 0.004		$ 0.004
Convertible Promissory Note [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Debt instrument measurement input term										2 years 7 months 6 days
Convertible Promissory Note [Member] | Measurement Input, Price Volatility [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										166.3		166.3
Convertible Promissory Note [Member] | Measurement Input, Price Volatility [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										174.3		174.3
Convertible Promissory Note [Member] | Measurement Input, Exercise Price [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input | $ / shares										0.03		0.03
Convertible Promissory Note [Member] | Measurement Input, Exercise Price [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input | $ / shares										0.12		0.12
Convertible Promissory Note [Member] | Measurement Input, Expected Term [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Debt instrument measurement input term										3 years 6 months 21 days
Convertible Promissory Note [Member] | Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input										4.22		4.22
Convertible Promissory Note [Member] | Securities Purchase Agreement [Member]
Short-Term Debt [Line Items]
Interest rate								8%
Principal amount								$ 13,210
Debt conversion price, percentage								70%
Debt instrument, conversion price per shares | $ / shares								$ 0.04
Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-Term Debt [Line Items]
Notes payable								$ 270					$ 0
Debt discount		$ 758						1,000			$ 758
Original issue discount								210
Aggregate amortized debt discount								1,210
Principal amount		1,481									1,481
Loss on settlement of debt		438
Interest payable, current		$ 60									$ 60
Debt increase percentage			5%	5%		5%					5%
Debt instrument, increase (decrease), net								1,481
Class of warrant or right, number of securities called by warrants or rights | shares		53,500,000									53,500,000
Warrant liability		$ 1,221									$ 1,221
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Share Price | $ / shares		$ 0.025									$ 0.025
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Measurement Input, Discount Rate [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input		0.98									0.98
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Debt Instrument, Measurement Input		176.1									176.1
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Initial Tranche [Member]
Short-Term Debt [Line Items]
Principal amount								1,210
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Tranche Five [Member]
Short-Term Debt [Line Items]
Principal amount								1,200
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | One Tranche [Member]
Short-Term Debt [Line Items]
Principal amount								$ 6,000
Series X Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument, description	Series X Warrant, the lower of $0.02 and 120% of the closing price on the date of exercise;
Series Y Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument, description	Series Y Warrant, the lower of $0.04 and 150% of the closing price on the date of exercise; and
Series Z Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument, description	Series Z Warrant, the lower of $0.06 and 200% of the closing price on the date of exercise.
December 2020 Note [Member]
Short-Term Debt [Line Items]
Notes payable									$ 230
Percentage of common stock									70%
Consideratin received									$ 200
Interest rate									8%
Debt discount					$ 66		$ 86		$ 200
Original issue discount									30
Aggregate amortized debt discount									230
Derivative liability					153		172		555
Beneficial conversion feature									355
Interest expense									$ 355
Principal amount					$ 110		$ 120
Debt instrument converted into common stock | shares					6,673,384		4,761,905
Debt instrument converted into common stock, value					$ 280		$ 238
Loss on settlement of debt					72		$ 32
Interest payable, current					$ 11

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Proceeds from loans payable		$ 1,335	$ 1,000
Notes payable		$ 200
Loans Payable [Member]
Short-Term Debt [Line Items]
Proceeds from loans payable	$ 71
Annual interest rate		7%

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 01, 2021	Dec. 31, 2019	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Monthly rent			$ 43	$ 37
Right of use asset				55
Loss on early termination of land lease			$ 8
Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Operating lease, weighted average interest rate, percent	8%
Right of use asset	$ 22
Lease liability	$ 22
Lease description	The agreement calls for yearly installments of $3 for the first five years, with an option to extend this lease for another five-year period at a rate not to exceed 105% of the current lease payment. On each anniversary date, the Company will pay $3 in advance, with payment for the first year paid upon execution of the lease
New Office Lease [Member]
Lessee, Lease, Description [Line Items]
Monthly rent		$ 3
Percentage of annual increases		3%
Operating lease, weighted average interest rate, percent		29.91%
Right of use asset		$ 79
Lease liability		$ 79

Summary of Warrants Outstanding

Summary of Warrants Outstanding (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, Beginning
Warrant shares outstanding, Issued	626,329,010
Warrant shares outstanding, Ending	682,563,502
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, Beginning	74,614,871
Weighted average exercise price, Beginning	$ 0.05
Intrinsic value outstanding, Beginning
Warrant shares outstanding, Issued	626,329,010	88,885,704
Weighted average exercise price, Issued	$ 0.07	$ 0.05
Weighted average remaining life, Issued	3 years	5 years
Warrant shares outstanding, Exercised	(18,380,379)	(14,270,833)
Weighted average exercise price, Exercised	$ 0.05	$ 0.05
Weighted average exercise price, Expired or cancelled
Weighted average remaining life, beginning	4 years 5 months 19 days
Warrant shares outstanding, Ending	682,563,502	74,614,871
Weighted average exercise price, Ending	$ 0.06	$ 0.05
Weighted average remaining life, Ending	3 years 2 months 4 days
Intrinsic value outstanding, Ending

Common Stock, Preferred Stock_3

Common Stock, Preferred Stock and Warrants (Details Narrative)				1 Months Ended			3 Months Ended		12 Months Ended
	Aug. 05, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) shares	Jul. 21, 2021 USD ($) shares	Jul. 31, 2019 USD ($) shares	Apr. 30, 2019 USD ($) $ / shares shares	Jan. 31, 2019 $ / shares shares	Sep. 30, 2019 shares	Jun. 30, 2019 shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) shares
Class of Stock [Line Items]
Corporate fundraising | $			$ 990,000
Shares issued			35,385,703
Warrant shares			35,385,703
Warrant derivative liability | $									$ 1,727,000	$ 1,130,000	$ 246,000
Nonoperating Income (Expense) | $									$ (3,493,000)	248,000
Warrant shares outstanding, Issued									603,529,010
Gain loss on derivative net | $									$ 984,000	(79,000)
Cashless exercise of warrants fair value | $									928,000	635,000
Gain loss on settlement of derivative | $									$ (757,000)	$ (228,000)
Common stock shares issued									703,770,903	606,970,903
Warrant shares outstanding, Issued									626,329,010
Warrant shares outstanding									682,563,502
March 2021 Note [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Amount | $		$ 1,481,000
Warrant shares outstanding, Issued		53,500,000
March 2021 Note [Member] | Accrued Interest [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Amount | $		$ 60,000
Corporate Fundraising [Member]
Class of Stock [Line Items]
Number of shares issued	22,800,000		35,385,703
Warrant shares	22,800,000		35,385,703
Payments of stock issuance costs | $	$ 228,000
Warrant derivative liability | $			$ 1,271,000
Nonoperating Income (Expense) | $			$ 306,000
Warrant [Member]
Class of Stock [Line Items]
Number of warrants									18,380,379	14,270,833
Number of warrants (or share units) exercised during the current period									74,000,000	23,500,000
Gain loss on derivative net | $									$ 231,000	$ 406,000
Cashless exercise of warrants fair value, shares									74,000,000	23,500,000
Cashless exercise of warrants fair value | $									$ 988,000	$ 635,000
Gain loss on settlement of derivative | $									$ 757,000	$ 228,000
Warrant shares outstanding, Issued									626,329,010	88,885,704
Warrant shares outstanding									682,563,502	74,614,871
Warrant [Member] | Measurement Input, Exercise Price [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input									0.05	0.05
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input									0	0
Warrant [Member] | Minimum [Member]
Class of Stock [Line Items]
Share Price | $ / shares									$ 0.007	$ 0.017
Warrant [Member] | Minimum [Member] | Measurement Input, Expected Term [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, term									3 years 6 months	4 years 2 months 12 days
Warrant [Member] | Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input									1.53	1.19
Warrant [Member] | Minimum [Member] | Measurement Input, Price Volatility [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input									169.28	175.7
Warrant [Member] | Maximum [Member]
Class of Stock [Line Items]
Share Price | $ / shares									$ 0.019	$ 0.043
Warrant [Member] | Maximum [Member] | Measurement Input, Expected Term [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, term									4 years 2 months 12 days	4 years 3 months 18 days
Warrant [Member] | Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input									3.79	1.33
Warrant [Member] | Maximum [Member] | Measurement Input, Price Volatility [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input									175.6	177.2
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued	22,800,000
Cashless exercise of warrants fair value, shares									74,000,000	23,500,000
Cashless exercise of warrants fair value | $									$ 74,000	$ 24,000
Common stock shares issued	76,000,000
Number of shares issued, value | $	$ 228,000
Common Stock [Member] | Year One [Member]
Class of Stock [Line Items]
Warrants exercise price | $ / shares	$ 0.03
Common Stock [Member] | Year Two [Member]
Class of Stock [Line Items]
Warrants exercise price | $ / shares	0.06
Common Stock [Member] | Year Three [Member]
Class of Stock [Line Items]
Warrants exercise price | $ / shares	$ 0.12
December 2020 Convertible Note [Member]
Class of Stock [Line Items]
Number of shares issued											11,435,288
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of stock shares converted							35	50		115
Conversion of stock shares issued							13,528,575	14,077,092		29,870,130
Number of shares issued				200	200
Preferred stock, shares authorized					200
Preferred stock, par value | $ / shares					$ 0.001
Preferred stock, voting rights					The holders of the Series C Preferred Shares have no voting rights, receive no dividends, and are entitled to a liquidation preference equal to the stated value. At any time, the Company may redeem the Series C Preferred Shares at 1.2 times the stated value
Preferred stock, conversion term, description					(a) 200,000 shares of common stock or (b) the amount derived by dividing the stated value by the product of 0.7 times the market price of the Company’s common stock, defined as the lowest trading price of the Company’s common stock during the ten day period preceding the conversion date. The holder may not convert any Series C Preferred Shares if the total amount of shares held, together with holdings of its affiliates, following a conversion exceeds 9.99% of the Company’s common stock
Proceeds from issuance of preferred stock | $				$ 1,990,000	$ 1,990,000
Preferred stock, shares outstanding										115
Preferred stock, shares issued										115
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized						10,000			10,000	10,000
Preferred stock, par value | $ / shares						$ 0.001			$ 0.001	$ 0.001
Preferred stock, stated value | $ / shares						$ 100
Preferred stock, dividend rate, percentage						12%
Preferred stock, shares outstanding									0	0
Preferred stock, shares issued									0	0
Series B Preferred Stock [Member] | Board of Directors [Member]
Class of Stock [Line Items]
Preferred stock, voting rights						Each holder shall also be entitled to vote on all matters submitted to stockholders of the Company and shall be entitled to 55,000 votes for each Series B Preferred Share owned at the record date for the determination of stockholders entitled to vote on such matter or, if no such record date is established, at the date such vote is taken or any written consent of stockholders is solicited. In the event of a liquidation event, any holders of the Series B Preferred Shares shall be entitled to receive, for each Series B Preferred Shares, the Stated Value in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its stockholders

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Non-operating income loss	$ (3,493)	$ 248
POD5 Agreement [Member] | Bit5ive, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Non-operating income loss	$ 0	$ 328

Schedule of Components of Defer

Schedule of Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. federal tax loss carry–forward	$ 18,349	$ 17,749
U.S. State tax loss carry–forward	304	298
Equity based compensation	8,567	8,289
Fixed assets, intangible assets and goodwill	(50)	6
Accruals	12	9
Long-term investments	(7)	(6)
Total deferred tax assets	27,175	26,344
Less: valuation allowance	(27,175)	(26,344)
Net deferred tax asset

Summary of Operating Loss Carry

Summary of Operating Loss Carryforwards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 87,375
Operating Loss Carry Forwards Limitation On Use	Fiscal 2023
State and Local Jurisdiction [Member] | GEORGIA
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 6,689
Operating Loss Carry Forwards Limitation On Use	Unlimited
State and Local Jurisdiction [Member] | NORTH CAROLINA
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 7,955
Operating Loss Carry Forwards Limitation On Use	Fiscal 2031

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Expected Federal Tax	(21.00%)	(21.00%)
State income taxes (net of federal benefit)	(1.90%)	(1.70%)
Permanent adjustments	12.30%	(2.00%)
True up of prior year deferred tax assets	(0.70%)	4.70%
Change in state tax rate	(2.60%)	(48.30%)
Change in valuation allowance	13.90%	64.30%
Effective tax rate	0%	0%

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Tax Examination, Description	Tax positions that meet the more likely than not threshold are then measured using a probability weighted approach recognizing the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company had no tax positions relating to open income tax returns that were considered to be uncertain.

Employee Benefit Plans (Details

Employee Benefit Plans (Details Narrative) - 401(k) Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Employee contribution percentage	100%
Employee contribution amount	$ 10	$ 10

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - USD ($) $ in Thousands		3 Months Ended
	Mar. 16, 2023	Mar. 31, 2023
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised		4,157,044
Number of warrants (or share units) exercised during the current period		20,000,000
Initial deposit	$ 229
Stock to be issued	500,000
Agreement for tenant, description	Further, pursuant to the agreement, the Company provided the tenant with the option to lend the Company up to $1 million, evidenced by a convertible promissory note that is convertible into 25% of the Company’s outstanding common stock, assuming all $1 million is lent, on a pro-forma, post-issuance basis, together with an accompanying warrant to purchase 60% of the shares of common stock underlying the note. The terms of the note and warrant would be substantially similar to the terms of the note and accompanying warrant that were issued by the Company on or about September 12, 2022. If the option is exercised, the parties may elect to substitute the $1 million purchase price, in whole or in part,with equipment and infrastructure improvements to enable the Company to have access to an additional up to 10 MWs of electricity to the facility’s currently available electrical power capacity. The Company’s facility currently has electrical capacity of up to 10 MW. The agreement has a term of 24 months.