MGT Capital Investments (MGTI) 10-K 16 Apr 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Apr. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
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	2076 Foster Mill Drive
Entity Address, City or Town	LaFayette
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30728
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			$ 3,456,493
Entity Common Stock, Shares Outstanding		943,170,903
ICFR Auditor Attestation Flag	false
Auditor Name	RBSM LLP
Auditor Location	Las Vegas, Nevada
Auditor Firm ID	587

Balance Sheet

Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 8	$ 538
Accounts receivable	17
Prepaid expenses and other current assets		4
Intangible digital assets		11
Total current assets	25	553
Non-current assets
Property and equipment, at cost, net	907	1,098
Other assets		3
Total assets	932	1,654
Current liabilities
Accrued expenses and other payables	244	115
Contract liability		30
Security deposit	45
Note payable		200
Convertible note payable, net of discount	1,329	82
Operating lease liability	96
Warrant derivative liability	4,253	1,727
Derivative liability	3,344	3,223
Total current liabilities	9,770	5,388
Non-current liabilities
Operating lease liability long-term	20
Total liabilities	9,790	5,388
Commitments and Contingencies (Note 10)
Stockholders’ Deficit
Common stock, $0.001 par value; 2,500,000,000 shares authorized; 849,170,903 and 703,770,903 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively.	849	704
Additional paid-in capital	422,332	421,468
Accumulated deficit	(432,039)	(425,906)
Total stockholders’ deficit	(8,858)	(3,734)
Total Liabilities and Stockholders’ Deficit	932	1,654
Undesignated Preferred Stock [Member]
Stockholders’ Deficit
Preferred stock value
Series B Preferred Stock [Member]
Stockholders’ Deficit
Preferred stock value
Series C Preferred Stock [Member]
Stockholders’ Deficit
Preferred stock value
Nonrelated Party [Member]
Current liabilities
Accounts payable	404	11
Note payable	25	200
Related Party [Member]
Current liabilities
Accounts payable	15
Note payable	$ 15

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares issued	849,170,903	703,770,903
Common stock, shares outstanding	849,170,903	703,770,903
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 ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue
Total revenue	$ 399,000	$ 809,000
Operating expenses
Cost of revenue	476,000	1,556,000
General and administrative	1,356,000	1,738,000
Total operating expenses	1,832,000	3,294,000
Operating loss	(1,433,000)	(2,485,000)
Other non-operating income (expense)
Interest expense	(91,000)	(23,000)
Change in fair value of warrant derivative liability	(2,685,000)	1,726,000
Change in fair value of derivative liability	(249,000)	984,000
Loss on settlement of derivative	(302,000)	(757,000)
Accretion of debt discount	(1,269,000)	(5,406,000)
Gain on sale of property and equipment	70,000
Gain (loss) on settlement of debt	10,000
Other income		49,000
Loss on Lease Incentive	(184,000)
Loss on early termination of land lease		(8,000)
Loss on early termination of leasehold improvements		(4,000)
Non-current asset impairment expense		(54,000)
Total non-operating expense	(4,700,000)	(3,493,000)
Net loss	$ (6,133,000)	$ (5,978,000)
Per-share data
Basic loss per share	$ (0.01)	$ (0.01)
Diluted loss per share	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding basic	761,862,958	663,993,369
Weighted average number of common shares outstanding diluted	761,862,958	663,993,369
Bitcoin Mining [Member]
Revenue
Total revenue	$ 75,000	$ 169,000
Hosting Services [Member]
Revenue
Total revenue	$ 324,000	$ 640,000

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
Balance 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)
Balance at Dec. 31, 2022		$ 704	421,468	(425,906)	(3,734)
Balance, shares at Dec. 31, 2022		703,770,903
Issuance of common stock and warrants
Cashless exercise of warrants and extinguishment of related warrant derivative liability		$ 91	370		461
Cashless exercise of warrants and extinguishment of related warrant derivative liability, shares		91,400,000
Net loss				(6,133)	(6,133)
Issuance of shares in respect of lease agreement		$ 34	374		408
Issuance of shares in respect of lease agreement, shares		34,000,000
Conversion of convertible note into Common Stock		$ 20	120		140
Conversion of convertible note into Common Stock, shares		20,000,000
Balance at Dec. 31, 2023		$ 849	$ 422,332	$ (432,039)	$ (8,858)
Balance, shares at Dec. 31, 2023		849,170,903

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows From Operating Activities
Net loss	$ (6,133,000)	$ (5,978,000)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	260,000	196,000
Gain on sale of property and equipment	(70,000)
Loss on early termination of land lease		8,000
Loss on early termination of leasehold improvements		4,000
Change in fair value of warrant derivative liability	2,685,000	(1,726,000)
Change in fair value of derivative liability	249,000	(984,000)
Loss on settlement of derivative	302,000	757,000
Loss on Lease Incentive	184,000
Non-current asset impairment expense		54,000
Amortization of note discount	1,269,000	5,406,000
Gain on settlement of debt	(10,000)
Change in operating assets and liabilities
Accounts receivable	(17,000)	180,000
Prepaid expenses and other current assets	4,000	117,000
Intangible digital assets	11,000	(11,000)
Other assets	3,000
Operating lease liability		(5,000)
Accounts payable	394,000	38,000
Accounts payable - related party	15,000
Accrued expenses	129,000	10,000
Contract liability	(30,000)	30,000
Security deposit	45,000	(245,000)
Net cash used in operating activities	(710,000)	(2,149,000)
Cash Flows From Investing Activities
Purchase of property and equipment		(68,000)
Net cash used in investing activities		(68,000)
Cash Flows From Financing Activities
Proceeds from convertible note payable		1,335,000
Proceeds from sale of stock under equity purchase agreement, net of issuance costs		228,000
Proceeds from issuance of stock under lease agreement	340,000
Repayment of loan payable	(200,000)	(71,000)
Proceeds from loans payable	25,000	33,000
Proceeds from notes payable, related party	15,000
Net cash provided by financing activities	180,000	1,525,000
Net change in cash and cash equivalents	(530,000)	(692,000)
Cash and cash equivalents, beginning of year	538,000	1,230,000
Cash and cash equivalents, end of year	8,000	538,000
Supplemental disclosure of cash flow information
Cash paid for interest	28,000
Cash paid for income tax
Non-cash investing and financing activities
Cashless exercise of warrants and extinguishment of related warrant derivative liability	461,000	988,000
Discount related to convertible promissory note		1,500,000
Derivative liabilities related to convertible debt and warrants		6,761,000
Accounts payable settled with loan payable	140,000	38,000
Accounts payable settled with bank note		$ 200,000

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
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, providing hosting services, and leasing space to third parties. As of December 31, 2023 and April 16, 2024, the Company owned 35 Antminer S19 Pro miners, providing about 3 Ph/s in hash power for self-mining. We also offer third-party owners of miners a hosting service whereby MGT operates and maintains the miners for a fixed monthly fee. MGT’s miners and those hosted for others 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, and three mining containers, are owned by MGT. Since April 2023, a single tenant is renting our property and electrical infrastructure to use for Bitcoin mining. The tenant has provided, at its cost, the approximately 2,000 miners and 9 containers needed for its activities. In addition, the tenant pays for its electricity consumption. These measures improve utilization of our fixed asset base and better insulate us against the volatility of self- mining Bitcoin. The Company is exploring the 10 MW expansion potential at its current property as well as investigating other sites to develop Bitcoin mining facilities. Basis of presentation The accompanying financial statements for the years ended December 31, 2023 and 2022 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”). 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, 2023
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, 2023, the Company had incurred significant operating losses since inception and continues to generate losses from operations. As of December 31, 2023, the Company had an accumulated deficit of $ 432,039 8 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, 2023
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 $ 8 538 250 0 37 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, 2023 and December 31, 2022, 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, 2023 and 2022: Schedule of Digital Currencies Digital currencies at December 31, 2021 $ - Additions of digital currencies from mining 169 Realized gain on sale of digital currencies (2 ) Sale of digital currencies (156 ) Digital currencies at December 31, 2022 11 Additions of digital currencies from mining 75 Realized loss on sale of digital currencies 3 Sale of digital currencies (89 ) Digital currencies at December 31, 2023 $ - 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 to ten years when placed in service. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Deposits on property and equipment are initially classified as Other Assets and upon delivery, installation and full payment, the assets are classified as property and equipment on the balance sheet. 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. In 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain crypto assets. The new guidance requires entities to subsequently measure certain crypto assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. The ASU’s amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. There was no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, prior to the issuance of ASU 2023-08 and management has exercised significant judgment in determining the appropriate accounting treatment for the current year. The Company is currently evaluating the impact ASU 2023-08 will have on its future financial statements. 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 $ 324 640 99 83 Other Income Other income for the year ended December 31, 2022 consisted of a commercial vendor settlement and the sale of some 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, 2023 excludes 1,202,410,574 621,691,357 682,563,502 335,293,895 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, 2023, the Company had a Level 3 financial instrument related to the conversion feature derivative liability and the warrant derivative liability. As of December 31, 2022, the Company had a Level 3 financial instrument related to the warrant derivative liability. 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. 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. On December 13, 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain crypto assets. The new guidance requires entities to subsequently measure certain crypto assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. The ASU’s amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted. The Company is currently evaluating the impact ASU 2023-08 will have on its financial statements. In June 2016, the FASB issued ASU 2016-13, a new standard to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The standard was effective for the Company on January 1, 2023. The new standard did not have a material impact on the financial statements for the year ended December 31, 2023. 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.

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Accounts Receivable	Note 4. Accounts Receivable Accounts receivable balance of $ 17 no 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, 2023
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, 2023 December 31, 2022 As of December 31, 2023 December 31, 2022 Land $ 55 $ 55 Computer hardware and software 10 10 Bitcoin mining machines 70 274 Infrastructure 1,185 1,185 Containers 403 403 Property and equipment, gross 1,723 1,927 Less: Accumulated depreciation (816 ) (829 ) Property and equipment, net $ 907 $ 1,098 The Company recorded depreciation expense of $ 260 196 70 0 4 Other assets consisted of the following: Schedule of Other Assets December 31, 2023 December 31, 2022 As of December 31, 2023 December 31, 2022 Security deposits $ - $ 3 Other Assets $ - $ 3 The Company paid $ 3 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Notes Payable	Note 6. Notes Payable 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 6 110 12 1,500 5,324 82 5,406 1,262 December 2023 Note On December 19, 2023, the Company exchanged the September 2022 Note for a new note (the “December 2023 Note”) with substantially the same terms with the exception of a maturity date of December 31, 2024 40 1,579 257 6 7 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) 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 ● 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. On July 25, 2023, the lender converted $ 65 20,000,000 140 65 43 118 10 In addition to the conversion, the Company issued 36,000,000 0.0083 0.0104 0.0138 12,000,000 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 December 31, 2023 December 31, 2022 Stock price $ 0.003 $ 0.004 Term (years) 1.00 1.00 Annual volatility 108.59 % 152.48 % Annual expected return 10.24 % 11.89 % Discount rate 4.79 % 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 Settlement of derivative liability at debt conversion (128 ) Change in fair value of derivative liability 249 Balance of derivative liability at December 31, 2023 $ 3,344 As of December 31, 2023, the fair value of the derivative liability was $ 3,344 249 3,223 984 Warrant Derivative Liabilities As of December 31, 2023, the fair value of the warrant derivative liabilities was $ 4,253 2,685 0.003 0.03 0.12 2.05 2.56 0 4.01 4.23 157.7 312.4 0.004 1.70 0 4.23 344.4 MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) 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 The Company’s activity in its derivative liabilities was as follows for the year ended December 31, 2023: Schedule of Warrant Derivative Liabilities 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 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (157 ) Change in fair value of warrant liability 2,685 Balance of warrant derivative liabilities at December 31, 2023 $ 4,253 The Company recorded loss on settlement of derivative liability in the amount of $ 302 757 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, 2023 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 3,344 $ 3,344 Warrant derivative liability $ - $ - $ 4,253 $ 4,253 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

Loans Payable

Loans Payable	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Loans Payable	Note 7. 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 On November 20, 2023, the lender of the September 2022 and December 2023 Notes provided the Company with a non-convertible loan in the amount of $ 25 12 November 19, 2024 0.3 Loans Payable – Related Party On August 1, 2023 an executive loaned the Company $ 15 . The loan bears interest at an annual rate of 4.43 %. A maturity date has not yet been set. During the year ended December 31, 2023, the Company recorded $ 0.3 of interest expense in respect of this loan. 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, 2023
Leases
Leases	Note 8. 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 did not record rent expense for the year ended December 31, 2023. The Company recorded rent expense of $ 43 for the year ended December 31, 2022.

Common Stock, Preferred Stock a

Common Stock, Preferred Stock and Warrants	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Common Stock, Preferred Stock and Warrants	Note 9. Common Stock, Preferred Stock and Warrants Common stock Common Stock Issuances 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 On July 21, 2023, 22,800,000 11,400,000 On July 25, 2023, 20,000,000 During the year ended December 31, 2023, 8,868,360 80,000,000 During the year ended December 31, 2023, 34,000,000 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 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 August 5, 2022, the Company sold 22,800,000 76,000,000 228,000 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 During the year ended December 31, 8,868,360 80,000,000 44 80,000,000 346 302 0.0023 0.01 0.05 2.2 3.1 0 3.76 4.37 171.4 309.3 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, 2023: Summary of Warrants Outstanding Warrant Weighted Weighted average remaining life Intrinsic value Outstanding at January 1, 2022 74,614,871 $ 0.05 4.47 $ - Issued 626,329,010 0.07 3.00 - Exercised (18,380,379 ) 0.05 - Expired or cancelled - - - Outstanding and exercisable at December 31, 2022 682,563,502 0.06 3.18 - Issued 551,515,432 - - - Exercised (31,668,360 ) 0.05 - - Outstanding and exercisable at December 31, 2023 1,202,410,574 $ 0.03 2.75 $ - (*) Of the 551,515,432 1,202,410,574 551,515,432 1,119,044,442 626,329,010 682,563,502 603,529,010

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10. Commitments and Contingencies Bitcoin Production Equipment and Operations On March 16, 2023 the Company entered into a partnership agreement (the “Partnership Agreement”) and a property lease agreement (the “Lease Agreement”, and together with the Partnership Agreement, collectively, the “Agreement”) with another cryptocurrency mining company (“Tenant”). Pursuant to the Lease Agreement, the Company agreed to lease to Tenant portions of the Company’s six acre mining facility in Lafayette, GA in increments of up to 10 spaces that are 40 feet in length and eight feet in height each (“Spaces”), together with related utilities access including electricity of up to one megawatt (“MW”) per Space, for deploying mining equipment, in exchange for rental payments of $ 5 229 Pursuant to the Partnership Agreement, the Company agreed to issue Tenant 500,000 shares its common stock per month for each 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 (the “Annual Issuances,” and together with the Monthly Issuances, collectively, the “Issuances”). Further, pursuant to the Partnership Agreement, the Company provided Tenant with the option (the “Option”) to lend MGT 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 (the “Note”), together with an accompanying warrant to purchase 60% of the shares of common stock underlying the Note (the “Warrant”). The terms of the Note and Warrant would be substantially similar to the September 2022 Note and accompanying warrants that were issued by the Company along with that note. 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 up to an additional 10 MWs of electricity to the facility’s currently available electrical power capacity The Company considered the terms of the Option under ASC 815 and concluded that the Option is a non-option embedded derivative with no initial fair value and would not require bifurcation from the host contract. ASC 606 states that consideration payable to a customer should be recorded as a direct reduction to the transaction price. Therefore, the Company determined the transaction should be accounted for on a net basis, and the fair value of the equity should be recorded as a direct deduction from rental revenue. The Company determined that the share issuances would be treated as lease incentives and ASC 842-10-30-5 requires lease incentives to be recorded as a reduction of fixed payments when determining lease payments. The Company concluded that the equity portion of the agreement should be recorded at fair value on the grant date. Upon recording the equity at fair value at the time of issuance and taking into consideration that revenue should be reduced by the fair value of equity, the Company determined that the fair value of the equity exceeds the total cash to be received based on the fair value of the contract at the date of issuance, resulting in a contract loss at inception. MGT CAPITAL INVESTMENTS, INC. NOTES TO THE FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Schedule of Loss at Inception Total lease payments to be received $ 920,000 Total shares FMV on grant date 184,000,000 x 0.006 1,104,000 Loss at Inception $ (184,000 ) The Company applied the guidance under ASU 2021-05 and determined that it would be appropriate to account for the entire loss at commencement and recognize that loss as a future equity commitment. The loss is based on the difference between the amount of cash to be received under the contract and the fair value of the stock to be issued under the contract. At lease inception, the Company recorded a lease incentive loss of $ 184 345 34 68 Legal proceedings In September 2018, the SEC commenced a legal action, in the United States District Court for the Southern District of New York naming the CEO of the Company as a defendant. In September 2023, the Court denied the CEO’s motion for summary judgment and granted the SEC’s motion for summary judgment partially. On February 23, 2024, the SEC filed a notice of motion seeking certain actions including a final judgment granting the SEC the following: (i) approximately $ 1.1 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.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 11. Related Party Transactions The crypto exchange used by the Company to monetize its self-mined Bitcoin experienced difficulties beginning in early 2023 and was ultimately shut down. The Company was unable to find a suitable replacement given its low transaction frequency and small trade volumes. As a consequence, the Company uses a personal brokerage account/crypto wallet of its CEO to effect the sales of its mined Bitcoin. These transactions occur approximately monthly and are executed and documented to provide no cost to the Company and no benefit to our CEO. Loans Payable – Related Party On August 1, 2023 an executive loaned the Company $ 15 . The loan bears interest at an annual rate of 4.43 %. A maturity date has not yet been set. During the year ended December 31, 2023, the Company recorded $ 0.3 of interest expense in respect of this loan. Accounts Payable – Related Party During the year ended December 31, 2023, an executive paid consultants reimbursable by the Company in the amount of $ 15

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
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 2023 2022 As of December 31, 2023 2022 U.S. federal tax loss carry–forward $ 18,656 $ 18,349 U.S. State tax loss carry–forward 382 304 Equity based compensation 8,567 8,567 Fixed assets, intangible assets and goodwill (51 ) (50 ) Accruals 2 12 Long-term investments (7 ) (7 ) Total deferred tax assets 27,549 27,175 Less: valuation allowance (27,549 ) (27,175 ) Net deferred tax asset $ - $ — As of December 31, 2023, the Company had the following tax attributes: Schedule of Operating Loss Carryforwards Amount Begins to U.S. federal net operating loss carry–forwards $ 88,840 Fiscal 2023 U.S. State net operating loss carry–forwards - Georgia 8,406 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, 2023 and 2022 is as follows: Schedule of Effective Income Tax Rate Reconciliation 2023 2022 As of December 31, 2023 2022 Expected Federal Tax -21.0 % -21.0 % State income taxes (net of federal benefit) -1.2 % -1.9 % Permanent adjustments 15.5 % 12.3 % True up of prior year deferred tax assets 0.0 % -0.7 % Change in state tax rate 0.0 % -2.6 % Expiration of tax attributes 0.6 % 0.0 % Change in valuation allowance 6.1 % 13.9 % 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, 2023, the valuation allowance increased by $ 374 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 2017.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
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 7 10

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events On January 11, 2024, the Company issued 30,000,000 48,310 On January 25, 2024, the Company issued 24,000,000 39,152 On March 6, 2024, the Company issued 32,000,000 49,040 On March 6, 2024, the Company issued a $ 125,000 75,000 12 Subsequent to the balance sheet date, the Company issued 8,000,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
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 $ 8 538 250 0 37
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, 2023 and December 31, 2022, 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, 2023 and 2022: Schedule of Digital Currencies Digital currencies at December 31, 2021 $ - Additions of digital currencies from mining 169 Realized gain on sale of digital currencies (2 ) Sale of digital currencies (156 ) Digital currencies at December 31, 2022 11 Additions of digital currencies from mining 75 Realized loss on sale of digital currencies 3 Sale of digital currencies (89 ) Digital currencies at December 31, 2023 $ -
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 to ten years when placed in service. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Deposits on property and equipment are initially classified as Other Assets and upon delivery, installation and full payment, the assets are classified as property and equipment on the balance sheet. 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. In 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain crypto assets. The new guidance requires entities to subsequently measure certain crypto assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. The ASU’s amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. There was no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, prior to the issuance of ASU 2023-08 and management has exercised significant judgment in determining the appropriate accounting treatment for the current year. The Company is currently evaluating the impact ASU 2023-08 will have on its future financial statements. 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 $ 324 640 99 83
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.
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, 2023 excludes 1,202,410,574 621,691,357 682,563,502 335,293,895
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, 2023, the Company had a Level 3 financial instrument related to the conversion feature derivative liability and the warrant derivative liability. As of December 31, 2022, the Company had a Level 3 financial instrument related to the warrant derivative liability.
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.
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. On December 13, 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain crypto assets. The new guidance requires entities to subsequently measure certain crypto assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. The ASU’s amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted. The Company is currently evaluating the impact ASU 2023-08 will have on its financial statements. In June 2016, the FASB issued ASU 2016-13, a new standard to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The standard was effective for the Company on January 1, 2023. The new standard did not have a material impact on the financial statements for the year ended December 31, 2023. 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Digital Currencies	The following table presents the activities of digital currencies for the years ended December 31, 2023 and 2022: Schedule of Digital Currencies Digital currencies at December 31, 2021 $ - Additions of digital currencies from mining 169 Realized gain on sale of digital currencies (2 ) Sale of digital currencies (156 ) Digital currencies at December 31, 2022 11 Additions of digital currencies from mining 75 Realized loss on sale of digital currencies 3 Sale of digital currencies (89 ) Digital currencies at December 31, 2023 $ -

Property and Equipment and Ot_2

Property and Equipment and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Schedule of Property and Equipment December 31, 2023 December 31, 2022 As of December 31, 2023 December 31, 2022 Land $ 55 $ 55 Computer hardware and software 10 10 Bitcoin mining machines 70 274 Infrastructure 1,185 1,185 Containers 403 403 Property and equipment, gross 1,723 1,927 Less: Accumulated depreciation (816 ) (829 ) Property and equipment, net $ 907 $ 1,098
Schedule of Other Assets	Other assets consisted of the following: Schedule of Other Assets December 31, 2023 December 31, 2022 As of December 31, 2023 December 31, 2022 Security deposits $ - $ 3 Other Assets $ - $ 3

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Monte Carlo Simulation Assumption	Schedule of Monte Carlo Simulation Assumption December 31, 2023 December 31, 2022 Stock price $ 0.003 $ 0.004 Term (years) 1.00 1.00 Annual volatility 108.59 % 152.48 % Annual expected return 10.24 % 11.89 % Discount rate 4.79 % 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 Settlement of derivative liability at debt conversion (128 ) Change in fair value of derivative liability 249 Balance of derivative liability at December 31, 2023 $ 3,344
Schedule of Warrant Derivative Liabilities	The Company’s activity in its derivative liabilities was as follows for the year ended December 31, 2023: Schedule of Warrant Derivative Liabilities 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 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (157 ) Change in fair value of warrant liability 2,685 Balance of warrant derivative liabilities at December 31, 2023 $ 4,253
Schedule of Derivative Liability Fair value	Schedule of Derivative Liability Fair value Level 1 Level 2 Level 3 Fair Value December 31, 2023 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 3,344 $ 3,344 Warrant derivative liability $ - $ - $ 4,253 $ 4,253 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

Common Stock, Preferred Stock_2

Common Stock, Preferred Stock and Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Summary of Warrants Outstanding	The following table summarizes information about shares issuable under warrants outstanding during the year ended December 31, 2023: Summary of Warrants Outstanding Warrant Weighted Weighted average remaining life Intrinsic value Outstanding at January 1, 2022 74,614,871 $ 0.05 4.47 $ - Issued 626,329,010 0.07 3.00 - Exercised (18,380,379 ) 0.05 - Expired or cancelled - - - Outstanding and exercisable at December 31, 2022 682,563,502 0.06 3.18 - Issued 551,515,432 - - - Exercised (31,668,360 ) 0.05 - - Outstanding and exercisable at December 31, 2023 1,202,410,574 $ 0.03 2.75 $ -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss at Inception	Schedule of Loss at Inception Total lease payments to be received $ 920,000 Total shares FMV on grant date 184,000,000 x 0.006 1,104,000 Loss at Inception $ (184,000 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
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 2023 2022 As of December 31, 2023 2022 U.S. federal tax loss carry–forward $ 18,656 $ 18,349 U.S. State tax loss carry–forward 382 304 Equity based compensation 8,567 8,567 Fixed assets, intangible assets and goodwill (51 ) (50 ) Accruals 2 12 Long-term investments (7 ) (7 ) Total deferred tax assets 27,549 27,175 Less: valuation allowance (27,549 ) (27,175 ) Net deferred tax asset $ - $ —
Schedule of Operating Loss Carryforwards	As of December 31, 2023, the Company had the following tax attributes: Schedule of Operating Loss Carryforwards Amount Begins to U.S. federal net operating loss carry–forwards $ 88,840 Fiscal 2023 U.S. State net operating loss carry–forwards - Georgia 8,406 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, 2023 and 2022 is as follows: Schedule of Effective Income Tax Rate Reconciliation 2023 2022 As of December 31, 2023 2022 Expected Federal Tax -21.0 % -21.0 % State income taxes (net of federal benefit) -1.2 % -1.9 % Permanent adjustments 15.5 % 12.3 % True up of prior year deferred tax assets 0.0 % -0.7 % Change in state tax rate 0.0 % -2.6 % Expiration of tax attributes 0.6 % 0.0 % Change in valuation allowance 6.1 % 13.9 % 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, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 432,039	$ 425,906
Cash and cash equivalents	$ 8

Schedule of Digital Currencies

Schedule of Digital Currencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Digital currencies, Beginning balance	$ 11
Additions of digital currencies from mining	75	169
Realized gain on sale of digital currencies	3	(2)
Sale of digital currencies	(89)	(156)
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, 2023	Dec. 31, 2022
Product Information [Line Items]
Cash and cash equivalents	$ 8	$ 538
Cash, FDIC uninsured amount	$ 0	$ 37
Warrant [Member]
Product Information [Line Items]
Computation of earnings per share	1,202,410,574	682,563,502
Convertible Notes Payable [Member]
Product Information [Line Items]
Computation of earnings per share	621,691,357	335,293,895
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Product Information [Line Items]
Concentration risk percentage	99%	83%
Hosting Miners [Member]
Product Information [Line Items]
Revenues	$ 324	$ 640
Maximum [Member]
Product Information [Line Items]
Cash, FDIC insured amount	$ 250

Accounts Receivable (Details Na

Accounts Receivable (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable, net	$ 17

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,723	$ 1,927
Less: Accumulated depreciation	(816)	(829)
Property and equipment, net	907	1,098
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	70	274
Infrastructure [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,185	1,185
Containers [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 403	$ 403

Schedule of Other Assets (Detai

Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Security deposits		$ 3
Other Assets		$ 3

Property and Equipment and Ot_3

Property and Equipment and Other Assets (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Depreciation expense	$ 260	$ 196
Gains on sale of property and equipment	70
Finance lease impairment loss	4
Security deposit		$ 3
Office Lease [Member]
Lessee, Lease, Description [Line Items]
Security deposit	$ 3

Schedule of Monte Carlo Simulat

Schedule of Monte Carlo Simulation Assumption (Details) - Monte Carlo Simulation [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Credit Derivatives [Line Items]
Stock price	$ 0.003	$ 0.004
Measurement Input, Expected Term [Member]
Credit Derivatives [Line Items]
Term (years)	1 year	1 year
Measurement Input, Option Volatility [Member]
Credit Derivatives [Line Items]
Debt measurement input	108.59	152.48
Measurement Input Annual Expected Return [Member]
Credit Derivatives [Line Items]
Debt measurement input	10.24	11.89
Measurement Input, Discount Rate [Member]
Credit Derivatives [Line Items]
Debt measurement input	4.79	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, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Balance of derivative liabilities	$ 3,223
Transfer in due to issuance of convertible promissory note with embedded conversion features		4,207
Change in fair value of derivative liability	249	(984)
Settlement of derivative liability at debt conversion	(128)
Balance of derivative liabilities	$ 3,344	$ 3,223

Schedule of Warrant Derivative

Schedule of Warrant Derivative Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Balance of warrant derivative liabilities	$ 1,727	$ 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	(157)	(231)
Change in fair value of derivative liability	2,685	(1,726)
Balance of warrant derivative liabilities	$ 4,253	$ 1,727

Schedule of Derivative Liabil_2

Schedule of Derivative Liability Fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Platform Operator, Crypto-Asset [Line Items]
Derivative liability	$ 3,344	$ 3,223
Warrant derivative liability	4,253	1,727
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liability
Warrant derivative liability
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liability
Warrant derivative liability
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liability	3,344	3,223
Warrant derivative liability	$ 4,253	$ 1,727

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) $ / shares in Units, $ in Thousands					12 Months Ended
	Dec. 19, 2023 USD ($)	Jul. 25, 2023 USD ($) $ / shares shares	Sep. 12, 2022 USD ($)	Sep. 12, 2022 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Aug. 05, 2022 shares	Dec. 31, 2021 USD ($)
Short-Term Debt [Line Items]
Proceeds from notes payable						$ 1,335
Accretion of debt discount					1,269	5,406
Fair value of derivative liability					3,344	3,223
Number of warrants issued | shares		36,000,000
Number of warrants per exercise prices | shares		12,000,000					76,000,000
Change in fair value of derivative warrant liability					249	(984)
Change in fair value of derivative warrant liability					(249)	984
Fair value of derivative liability					4,253	1,727
Gain in change in fair value of derivative warrant liability					2,685	(1,726)
Loss in change in fair value of derivative warrant liability					(2,685)	1,726
Gain loss on settlement of derivative					$ 302	$ 757
Warrant Derivative Liabilities [Member] | Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Share price | $ / shares					$ 0.003	$ 0.004
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Exercise Price [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input | $ / shares					0.03	0.03
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Exercise Price [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input | $ / shares					0.12	0.12
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liabilities measurement input term					2 years 18 days	2 years 7 months 6 days
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Expected Term [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Derivative liabilities measurement input term					2 years 6 months 21 days	3 years 6 months 21 days
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					0	0
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input						4.22
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					0.0401
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					0.0423
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Price Volatility [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					157.7	166.3
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Price Volatility [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					3.124	1.743
Exercise Price One [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares		$ 0.0083
Exercise Price Two [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares		0.0104
Exercise Price Three [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares		$ 0.0138
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
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
Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument, conversion ratio	0.60
Change in fair value of derivative warrant liability					$ (44)	$ (231)
Change in fair value of derivative warrant liability					$ 44	$ 231
Warrant [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Share price | $ / shares					$ 0.0023	$ 0.007
Warrant [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Share price | $ / shares					0.01	0.019
Warrant [Member] | Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Share price | $ / shares					$ 0.004	$ 0.004
Warrant [Member] | Measurement Input, Expected Term [Member]
Short-Term Debt [Line Items]
Derivative liabilities measurement input term					1 year 8 months 12 days	2 years 8 months 12 days
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					0	0
Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					4.23	4.22
Warrant [Member] | Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input					344.4	174
September 2022 Note [Member]
Short-Term Debt [Line Items]
Proceeds from notes payable			$ 1,335
Principal amount			1,500	$ 1,500
Original issue discount			$ 165	$ 165
Convertible outstanding shares percentage			30%
Maturity date			Dec. 31, 2023
Interest rate			6%	6%
Percentage of other accrued amounts outstanding				110%
Interest rate increasing				12%
Debt instrument debt discount		$ 43	$ 1,500	$ 1,500
Non-cash interest as accretion of debt discount			$ 5,324			$ 82
Accretion of debt discount					$ 1,262	$ 5,406
Debt instrument debt converted		$ 65
Debt instrument debt conversion, shares | shares		20,000,000
Debt instrument debt converted, fair value of shares		$ 140
Fair value of derivative liability		118
Gain on debt settlement		$ 10
December 2023 Note [Member]
Short-Term Debt [Line Items]
Principal amount	$ 1,579
Original issue discount	$ 257
Convertible outstanding shares percentage	40%
Maturity date	Dec. 31, 2024
Interest rate	6%
Accretion of debt discount					$ 7

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)			6 Months Ended	12 Months Ended
	Nov. 20, 2023	Aug. 01, 2023	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Proceeds from loans payable					$ 1,335,000
Notes payable					200,000
Related Party [Member]
Short-Term Debt [Line Items]
Notes payable				15,000
Interest expense loan				300
Loans payable		$ 15,000
Loan bears interest rate percentage		4.43%
Loans Payable [Member]
Short-Term Debt [Line Items]
Proceeds from loans payable			$ 71,000
Annual interest rate	12%				7%
Non-convertible loan	$ 25,000
Maturity date	Nov. 19, 2024
Interest expense loan				$ 300

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 01, 2021	Dec. 31, 2019	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Monthly rent				$ 43
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares, Issued	1,119,044,442	603,529,010
Warrant shares, Exercised	(8,868,360)
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, Beginning	682,563,502	74,614,871
Weighted average exercise price, Beginning	$ 0.06	$ 0.05
Weighted average remaining life	2 years 9 months	3 years 2 months 4 days	4 years 5 months 19 days
Intrinsic value outstanding, Beginning
Warrant shares, Issued	551,515,432	626,329,010
Weighted average exercise price, Issued		$ 0.07
Weighted average remaining life, Issued		3 years
Warrant shares, Exercised	(31,668,360)	(18,380,379)
Weighted average exercise price, Exercised	$ 0.05	$ 0.05
Warrant shares, Expired or cancelled
Warrant shares outstanding, Ending	1,202,410,574	682,563,502	74,614,871
Weighted average exercise price, Ending	$ 0.03	$ 0.06	$ 0.05
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
	Jul. 25, 2023 shares	Jul. 21, 2023 shares	Aug. 05, 2022 USD ($) $ / shares shares	Apr. 12, 2019 $ / shares shares	Jan. 11, 2019 $ / shares shares	Jul. 31, 2019 USD ($) shares	Apr. 30, 2019 USD ($) shares	Sep. 30, 2019 shares	Jun. 30, 2019 shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 shares
Subsidiary, Sale of Stock [Line Items]
Warrants to purchase shares of common stock	12,000,000		76,000,000
Number of warrants										8,868,360
Number of shares sold			22,800,000
Number of shares issued, value | $			$ 228,000							$ 408,000
Gain loss on derivative net | $										(249,000)	$ 984,000
Cashless exercise of warrants fair value | $										461,000	928,000
Gain loss on settlement of derivative | $										$ (302,000)	$ (757,000)
Warrant shares outstanding, Issued										1,119,044,442	603,529,010
Year One [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercise price | $ / shares			$ 0.03
Year Two [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercise price | $ / shares			0.06
Year Three [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercise price | $ / shares			$ 0.12
Series B Preferred Stock [Member]
Subsidiary, Sale 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 issued										0	0
Preferred stock, shares outstanding										0	0
Series B Preferred Stock [Member] | Board of Directors [Member]
Subsidiary, Sale 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.
Series C Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares						200	200
Conversion of stock shares converted								35	50			115
Preferred stock, shares authorized				200
Preferred stock, par value | $ / shares				$ 0.001
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
Conversion of stock shares issued								13,528,575	14,077,092			29,870,130
Preferred stock, shares issued												115
Preferred stock, shares outstanding												115
Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares		22,800,000
Number of warrants										31,668,360	18,380,379
Number of warrants (or share units) exercised during the current period		11,400,000									74,000,000
Gain loss on derivative net | $										$ 44,000	$ 231,000
Cashless exercise of warrants fair value, shares										80,000,000	74,000,000
Cashless exercise of warrants fair value | $										$ 346,000	$ 988,000
Gain loss on settlement of derivative | $										$ 302,000	$ 757,000
Warrant shares outstanding, Issued										551,515,432	626,329,010
Warrant outstanding										1,202,410,574	682,563,502	74,614,871
Warrant [Member] | Measurement Input, Exercise Price [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding measurement input | $ / shares										0.05	0.05
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding measurement input										0	0
Warrant [Member] | Minimum [Member]
Subsidiary, Sale of Stock [Line Items]
Share price | $ / shares										$ 0.0023	$ 0.007
Warrant [Member] | Minimum [Member] | Measurement Input, Expected Term [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding, term										2 years 2 months 12 days	3 years 6 months
Warrant [Member] | Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding measurement input										3.76	1.53
Warrant [Member] | Minimum [Member] | Measurement Input, Price Volatility [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding measurement input										171.4	169.28
Warrant [Member] | Maximum [Member]
Subsidiary, Sale of Stock [Line Items]
Share price | $ / shares										$ 0.01	$ 0.019
Warrant [Member] | Maximum [Member] | Measurement Input, Expected Term [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding, term										3 years 1 month 6 days	4 years 2 months 12 days
Warrant [Member] | Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding measurement input										4.37	3.79
Warrant [Member] | Maximum [Member] | Measurement Input, Price Volatility [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding measurement input										309.3	175.6
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares										34,000,000
Number of warrants (or share units) exercised during the current period										80,000,000
Number of shares issued, value | $										$ 34,000
Cashless exercise of warrants fair value, shares										91,400,000	74,000,000
Cashless exercise of warrants fair value | $										$ 91,000	$ 74,000
Corporate Fundraising [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares			22,800,000
Warrants to purchase shares of common stock			22,800,000
Payments of stock issuance costs | $			$ 228,000
Conversion of stock shares converted	20,000,000

Schedule of Loss at Inception (

Schedule of Loss at Inception (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Total lease payments to be received	$ 920,000,000
Equity fair measurement value on share	184,000,000
Equity fair measurement value on grant date per share	$ 0.006
Equity fair value adjustment	$ 1,104,000,000
Loss at Inception	$ (184,000)

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($) shares in Millions			12 Months Ended
	Feb. 23, 2024	Mar. 16, 2023	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Rental payments				$ 43,000
Lease incentive loss			$ 184,000
Subsequent Event [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Civil penalties	$ 1,100,000
Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued under lease agreement, value			$ 345,000
Shares issued under lease agreement, shares			34
Lease liability			$ 68,000
Partnership Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Rental payments		$ 5,000
Initial deposit on electricity deployment		$ 229,000
Other Commitment		Pursuant to the Partnership Agreement, the Company agreed to issue Tenant 500,000 shares its common stock per month for each 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 (the “Annual Issuances,” and together with the Monthly Issuances, collectively, the “Issuances”). Further, pursuant to the Partnership Agreement, the Company provided Tenant with the option (the “Option”) to lend MGT 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 (the “Note”), together with an accompanying warrant to purchase 60% of the shares of common stock underlying the Note (the “Warrant”). The terms of the Note and Warrant would be substantially similar to the September 2022 Note and accompanying warrants that were issued by the Company along with that note. 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 up to an additional 10 MWs of electricity to the facility’s currently available electrical power capacity

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - Related Party [Member] - USD ($)		12 Months Ended
	Aug. 01, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Loans payable	$ 15,000
Loan bears interest rate percentage	4.43%
Interest expense loan		$ 300
Accounts payable		$ 15,000

Schedule of Components of Defer

Schedule of Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S. federal tax loss carry–forward	$ 18,656	$ 18,349
U.S. State tax loss carry–forward	382	304
Equity based compensation	8,567	8,567
Fixed assets, intangible assets and goodwill	(51)	(50)
Accruals	2	12
Long-term investments	(7)	(7)
Total deferred tax assets	27,549	27,175
Less: valuation allowance	(27,549)	(27,175)
Net deferred tax asset

Schedule of Operating Loss Carr

Schedule of Operating Loss Carryforwards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 88,840
Begins to expire	Fiscal 2023
State and Local Jurisdiction [Member] | GEORGIA
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 8,406
Begins to expire	Unlimited
State and Local Jurisdiction [Member] | NORTH CAROLINA
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 7,955
Begins to expire	Fiscal 2031

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Expected Federal Tax	(21.00%)	(21.00%)
State income taxes (net of federal benefit)	(1.20%)	(1.90%)
Permanent adjustments	15.50%	12.30%
True up of prior year deferred tax assets	0%	(0.70%)
Change in state tax rate	0%	(2.60%)
Expiration of tax attributes	0.60%	0%
Change in valuation allowance	6.10%	13.90%
Effective tax rate	0%	0%

Income Taxes (Details Narrative

Income Taxes (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Valuation allowance, deferred tax asset, increase (decrease), amount	$ 374
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, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employer discretionary contribution amount	$ 7	$ 10
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan maximum annual contributions per employee percent	100%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - USD ($)	Mar. 06, 2024	Jan. 25, 2024	Jan. 11, 2024	Jan. 01, 2024
Subsequent Event [Line Items]
Number of shares issued	32,000,000	24,000,000	30,000,000
Conversions of note in principal amounts	$ 49,040	$ 39,152	$ 48,310
Original issue discount note	125,000,000
Proceeds from issuance of debt	$ 75,000,000
Interest rate	12%
Partnership Agreement [Member]
Subsequent Event [Line Items]
Number of shares issued				8,000,000