MGT Capital Investments (MGTI) 10-Q 31 Jan 25 2024 Q1 Quarterly report Financial data

Cover

Cover - $ / shares	3 Months Ended
	Mar. 31, 2024	Jan. 31, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
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 Rd.
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 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 Common Stock, Shares Outstanding		2,490,670,903
Entity Listing, Par Value Per Share	$ 0.001

Balance Sheet (Unaudited)

Balance Sheet (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 26	$ 8
Accounts receivable	14	17
Total current assets	40	25
Non-current assets
Property and equipment, at cost, net	852	907
Total assets	892	932
Current liabilities
Accrued expenses and other payables	284	244
Security deposit	45	45
Convertible note payable, net of discount	1,267	1,329
Operating lease liability	92	96
Warrant derivative liability	4,147	4,253
Derivative liability	2,676	3,344
Total current liabilities	9,016	9,770
Non-current liabilities
Operating lease liability long-term		20
Total liabilities	9,016	9,790
Commitments and Contingencies (Note 10)
Stockholders’ Deficit Equity
Common stock to be issued	4
Common stock, $0.001 par value; 2,500,000,000 shares authorized; 943,170,903 and 849,170,903 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively.	943	849
Additional paid-in capital	422,672	422,332
Accumulated deficit	(431,743)	(432,039)
Total stockholders’ deficit	(8,124)	(8,858)
Total Liabilities and Stockholders’ Deficit	892	932
Undesignated Preferred Stock [Member]
Stockholders’ Deficit Equity
Preferred stock value
Series B Preferred Stock [Member]
Stockholders’ Deficit Equity
Preferred stock value
Series C Preferred Stock [Member]
Stockholders’ Deficit Equity
Preferred stock value
Nonrelated Party [Member]
Current liabilities
Accounts payable	350	404
Note payable	100	25
Related Party [Member]
Current liabilities
Accounts payable	40	15
Note payable	$ 15	$ 15

Balance Sheet (Unaudited) (Pare

Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares issued	943,170,903	849,170,903
Common stock, shares outstanding	943,170,903	849,170,903
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 (Unaud

Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue
Total revenue	$ 102	$ 107
Operating expenses
Cost of revenue	95	134
General and administrative	234	483
Total operating expenses	329	617
Operating loss	(227)	(510)
Other non-operating income (expense)
Interest expense	(24)	(23)
Change in fair value of warrant derivative liability	106	(1,696)
Change in fair value of derivative liability	384	(1,347)
Loss on settlement of derivative		(169)
Accretion of debt discount	(54)	(123)
Gain on sale of property and equipment		70
Gain (loss) on settlement of debt	106
Other income	5
Total non-operating expense	523	(3,288)
Net income (loss)	$ 296	$ (3,798)
Per-share data
Basic loss per share	$ 0	$ (0.01)
Diluted loss per share	$ 0	$ (0.01)
Weighted average number of common shares outstanding basic	908,181,892	719,548,681
Weighted average number of common shares outstanding diluted	908,181,892	719,548,681
Bitcoin Mining [Member]
Revenue
Total revenue	$ 17	$ 21
Hosting Services [Member]
Revenue
Total revenue	$ 85	$ 86

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Common Stock to be Issued [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022		$ 704		$ 421,468	$ (425,906)	$ (3,734)
Balance, shares at Dec. 31, 2022		703,770,903
Cashless exercise of warrants and extinguishment of related warrant derivative liability		$ 20		180		200
Cashless exercise of warrants and extinguishment of related warrant derivative liability, shares		20,000,000
Net income					(3,798)	(3,798)
Balance at Mar. 31, 2023		$ 724		421,648	(429,704)	(7,332)
Balance, shares at Mar. 31, 2023		723,770,903
Balance at Dec. 31, 2022		$ 704		421,468	(425,906)	(3,734)
Balance, shares at Dec. 31, 2022		703,770,903
Balance at Dec. 31, 2023		$ 849		422,332	(432,039)	(8,858)
Balance, shares at Dec. 31, 2023		849,170,903
Net income					296	296
Conversion of convertible note into Common Stock		$ 86		208		294
Conversion of convertible note into Common Stock, shares		86,000,000
Issuance of shares in respect of lease agreement		$ 8	4	132		144
Issuance of shares in respect of lease agreement, shares		8,000,000
Balance at Mar. 31, 2024		$ 943	$ 4	$ 422,672	$ (431,743)	$ (8,124)
Balance, shares at Mar. 31, 2024		943,170,903

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash Flows From Operating Activities
Net income (loss)	$ 296	$ (3,798)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation	55	56
Gain on sale of property and equipment		(70)
Change in fair value of warrant derivative liability	(106)	1,696
Change in fair value of derivative liability	(384)	1,347	$ 249
Loss on settlement of derivative		169
Accretion of debt discount	54	123
Gain on settlement of debt	(106)
Change in operating assets and liabilities
Accounts receivable	3
Intangible digital assets		6
Other assets		3
Accounts payable	(54)	313
Accounts payable - related party	25
Accrued expenses	40	(105)
Deferred revenue		(30)
Security deposit		269
Net cash used in operating activities	(177)	(21)
Cash Flows From Financing Activities
Proceeds from issuance of stock under lease agreement	120
Repayment of loan payable		(200)
Proceeds from loans payable	75
Net cash provided by financing activities	195	(200)
Net change in cash and cash equivalents	18	(221)
Cash and cash equivalents, beginning of period	8	538	538
Cash and cash equivalents, end of period	26	317	$ 8
Supplemental disclosure of cash flow information
Cash paid for interest	28	23
Cash paid for income tax
Non-cash investing and financing activities
Cashless exercise of warrants and extinguishment of related warrant derivative liability		$ 200
Exchange of property and equipment		70
Conversion of convertible note into common stock	$ 116

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization MGT Capital Investments, Inc. (“MGT” or the “Company”) is a Delaware corporation incorporated in 2000. MGT was originally incorporated in Utah in 1977. MGT’s corporate office is in LaFayette, Georgia. 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 leasing space to third parties and self-mining operations. As of March 31, 2024 and January 31, 2025, the Company owned approximately 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 2,500 miners and 12 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 unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10–Q and Rule 8 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these statements. These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended December 31, 2023, as filed with the Securities and Exchange Commission (“SEC”) on April 16, 2024. Operating results for the three months ended March 31, 2024 and 2023 are not necessarily indicative of the results that may be expected for any subsequent quarters or for the year ending December 31, 2024. Inflation Electricity and other prices are vulnerable to inflation which may increase the Company’s mining costs and operating expenses including the cost of new state-of-the-art miners.

Going Concern and Management_s

Going Concern and Management’s Plans	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management’s Plans	Note 2. Going Concern and Management’s Plans The accompanying unaudited condensed 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 March 31, 2024, the Company had incurred significant operating losses since inception and continues to generate losses from operations. As of March 31, 2024, the Company had an accumulated deficit of $ 431,743 26 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 as and when needed, or at terms deemed acceptable, if at all. The Company’s ability to raise additional capital is impacted by, among other things, the volatility of Bitcoin mining economics, inflation and high interest rates, the banking crisis, the war in Ukraine, the market for Bitcoin, and regulatory developments with respect to cryptocurrencies generally, each of which are highly uncertain, cannot be predicted, and could have an adverse effect on the Company’s business and financial condition. Since January 2023, the Company has secured working capital through the issuance of a convertible note, the sale of equity and warrants, the sale of assets and related party notes. Such factors raise substantial doubt about the Company’s ability to sustain operations for at least one year from the issuance of these unaudited condensed financial statements. The accompanying unaudited condensed 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	3 Months Ended
	Mar. 31, 2024
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 $ 26 8 250 0 0 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. The following table presents the activities of digital currencies for the periods ended March 31, 2024 and December 31, 2023: Schedule of Digital Currencies Digital currencies at January 1, 2023 $ 11 Additions of digital currencies from mining 75 Realized gain on sale of digital currencies 3 Sale of digital currencies (89 ) Digital currencies at December 31, 2023 - Additions of digital currencies from mining 17 Realized loss on sale of digital currencies 1 Sale of digital currencies (18 ) Digital currencies at March 31, 2024 $ - 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. 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   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 may be 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 to the mining pool, 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 35 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 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 in the form of digital assets, 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 therefore 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. Hosting Revenues We receive revenues from third parties renting capacity at our facility and from hosting miners owned by others. The Company recognized $ 85 86 100 100 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. Income (loss) per share Basic income (loss) per share is calculated by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share is calculated by dividing the net income (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 convertible debt and warrants, are not reflected in diluted net income (loss) per share because such potential shares are anti–dilutive due to the Company’s net income (loss). Accordingly, the computation of diluted loss per share for the quarter ended March 31, 2024 excludes 1,417,604,442 787,558,023 691,073,030 342,277,865 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). 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 March 31, 2024 and December 31, 2023, the Company had Level 3 financial instruments related to derivative liabilities related to the issuance of warrants and convertible debt. 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 11 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed 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 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)”

Property, Plant, and Equipment

Property, Plant, and Equipment and Other Assets	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment and Other Assets	Note 4. Property, Plant, and Equipment and Other Assets Property and equipment consisted of the following: Schedule of Property and Equipment March 31, December 31, As of March 31, December 31, Land $ 55 $ 55 Computer hardware and software 10 10 Bitcoin mining machines 70 70 Infrastructure 1,185 1,185 Containers 403 403 Property and equipment, gross 1,723 1,723 Less: Accumulated depreciation (871 ) (816 ) Property and equipment, net $ 852 $ 907 The Company recorded depreciation expense of $ 55 56 70

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Notes Payable	Note 5. Notes Payable September 2022 Note On September 12, 2022, the Company entered into a securities purchase agreement, pursuant to which the Company borrowed $ 1,335 1,500 165 30 December 31, 2023 6 110 12 At inception the Company recorded a debt discount of $ 1,500 5,324 123 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 54 During the three months ended March 31, 2024, the lender converted $ 137 86,000,000 294 137 21 284 106 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 issuance ● Series Y Warrant, the lower of $0.04 and 150% of the closing price on the date of issuance ● Series Z Warrant, the lower of $0.06 and 200% of the closing price on the date of issuance In addition to the warrants described above, the Company has previous warrants outstanding whereby it cannot conclude that it has enough authorized and unissued shares to satisfy the settlement requirements for those already outstanding warrants. As a result, the equity environment would be considered tainted, and the conversion feature and the attached warrants are treated as derivative liabilities. Derivative Liabilities 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 March 31, 2024 December 31, 2023 Stock price $ 0.003 $ 0.004 Term (years) 0.75 1.00 Annual volatility 101.59 % 108.59 % Annual expected return 11.16 % 10.24 % Discount rate 5.21 % 4.79 % Dividend yield 0 % 0 % The Company’s activity in its convertible debt related derivative liability was as follows for the three months ended March 31, 2024: Schedule of Derivative Liability Activity Balance of derivative liability at January 1, 2023 $ 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 Settlement of derivative liability at debt conversion (284 ) Change in fair value of derivative liability (384 ) Balance of derivative liability at March 31, 2024 $ 2,676 As of March 31, 2024, the fair value of the derivative liability was $ 2,676 384 4,570 1,347 Warrant Derivative Liabilities As of March 31, 2024, the fair value of the warrant derivative liabilities was $ 4,147 106 0.003 0.004 0.14 1.93 2.93 0 4.40 4.59 283.3 334.6 0.003 1.45 0 4.81 374.27 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 The Company’s activity in its warrant derivative liabilities was as follows for the three months ended March 31, 2024: Schedule of Warrant Derivative Liabilities Balance of warrant derivative liability at January 1, 2023 $ 1,727 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (159 ) Change in fair value of warrant derivative liability 2,685 Balance of derivative liability at December 31, 2023 4,253 Transfer in due to issuance of warrants with embedded conversion features 520 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (547 ) Change in fair value of warrant liability (79 ) Balance of warrant derivative liabilities at March 31, 2024 $ 4,147 The Company recorded loss on settlement of derivative liability in the amount of $ 0 169 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 March 31, 2024 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 2,676 $ 2,676 Warrant derivative liability $ - $ - $ 4,147 $ 4,147 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

Loans Payable

Loans Payable	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Loans Payable	Note 6. Loans Payable 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 75 12 March 5, 2025 1.3 0 Loans Payable – Related Party On August 1, 2023 an executive loaned the Company $ 15 4.43 0.1 0

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Note 7. Leases The Company is not a party to any leases. As a result, the Company did no

Common Stock and Preferred Stoc

Common Stock and Preferred Stock	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Common Stock and Preferred Stock	Note 8. Common Stock and Preferred Stock Common stock Common Stock Issuances During the three months ended March 31, 2024, $ 137 86,000,000 During the three months ended March 31, 2024, 8,000,000 Warrants On August 5, 2023, the Company sold 22,800,000 7,600,000 228,000 0.03 0.06 0.12 During the year ended December 31, 2023, 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 three months ended March 31, 2024, 154,800,000 298,560,000 154,800,000 0.0025 0.0046 0.0036 0.0068 2.78 2.93 0 4.02 4.4 279.2 283.8 298,560,000 The following table summarizes information about shares issuable under warrants outstanding during the three months ended March 31, 2024: Summary of Warrants Outstanding Warrant Weighted Weighted Intrinsic Outstanding at January 1, 2023 682,563,502 $ 0.06 4.47 - Issued 551,515,432 - - - Exercised (31,668,360 ) 0.05 - - Expired or cancelled - - - - Outstanding and exercisable at December 31, 2023 1,202,410,574 0.06 3.18 - Issued 453,360,000 0.01 - - Exercised - - - - Expired or cancelled - - - - Outstanding and exercisable at March 31, 2024 1,655,770,574 $ 0.01 2.21 $ - (*) Of the 453,360,000 551,515,432 1,655,770,574 1,202,410,574 1,119,044,442 1,417,604,442 154,800,000 298,560,000

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9. 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. 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. As the lease actually commenced on April 1, 2023, the Company began accounting for the lease on that date. At lease inception, the Company recorded a lease incentive loss of $ 184 120 0 8 0 24 0 Legal proceedings From time-to-time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. During the period covered by this report, there were no material changes to the description of legal proceedings set forth in our Annual Report on Form 10-K, as filed with the SEC on April 16, 2024. 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.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 10. 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 1 3

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
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 used a personal brokerage account/crypto wallet of its CEO to effect the sales of its mined Bitcoin. These transactions occurred approximately monthly and were executed and documented to provide no cost to the Company and no benefit to our CEO. This has been remedied as of 10/25/2024 and the Company now has its own account/crypto wallet Loans Payable – Related Party On August 1, 2023 an executive loaned the Company $ 15 4.43 0.1 0 Accounts Payable – Related Party During the year ended December 31, 2023, an executive paid consultants reimbursable by the Company in the amount of $ 15 25

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events On April 30, 2024, the Company issued 54,000,000 40,000,000 100,000 103,500,000 3,346,420 On July 18, 2024, the United States District Court Southern District of New York issued an Opinion and Order granting in part the SEC’s motion for relief in its litigation against our Chief Executive Officer. In addition to civil monetary penalties and a permanent injunction against future violations of certain securities regulations, the Court imposes a five year officer-director bar against our Chief Executive Officer. The SEC filed a proposed final judgment on July 26, 2024, and our Chief Executive Officer will have until August 2, 2024 to file any objections. As a result of the foregoing Opinion and Order, our Chief Executive Officer was required to resign. On August 29, 2024, Robert B. Ladd resigned from his position as Chief Executive Officer, President, and Acting Chief Financial Officer of MGT Capital Investments, Inc. (the “Company”), and as a member of the Company’s Board of Directors, effective August 29, 2024. Mr. Ladd’s decision to resign was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. On September 2, 2024, the Company’s Board of Directors appointed Paul R. Taylor, 65, to serve as Interim Principal Executive Officer and Interim Principal Financial Officer. Before joining the Company, Mr. Taylor has served as Chief Executive Officer of Dinostar/RPM One Inc. since he co-founded the entity in 2003. Mr. Taylor also served as a consultant to the Board of Directors of XNET Investments from 2006 to 2019. On November 1, 2024, the Company and Project Nickel LLC entered into three into three agreements: (i) a Convertible Note Exchange Agreement; (ii) a Warrant Exchange and Extinguishment Agreement; and (iii) a Promissory Note Exchange Agreement. Convertible Note Exchange Agreement and Issuance of New Secured Exchange Note Pursuant to the Convertible Note Exchange Agreement, Project Nickel agreed to exchange the outstanding balance of an Original Issue Discount Secured Convertible Promissory Note dated December 19, 2023 1,578,840 6 November 1, 2024 1,620,240 8 December 31, 2025 750,000,000 (i) a rate of 12% per annum or (ii) the maximum amount permitted by law, and once the event of default is cured, the interest rate shall revert to 8% per annum. Furthermore, under the terms of the New Secured Exchange Note, an event of default may result, at the holder’s election, in the accelerated maturity of the note, in which case 110% of the principal of and accrued and unpaid interest on the note will automatically become due and payable Warrant Exchange and Extinguishment Agreement and Issuance of Common Stock and Series D Preferred Stock The Company previously issued to Project Nickel (i) a common stock purchase warrant dated September 12, 2022 (the “2022 Warrant”) and (ii) in connection with certain convertible note conversions, an aggregate of 334,800,000 600,000,000 650,000 1,000 Promissory Note Exchange Agreement and Issuance of New Promissory Note The Company previously issued to Project Nickel on November 20, 2023, March 6, 2024 and April 30, 2024 certain promissory notes with principal amounts of $ 25,000 125,000 50,000 241,590 241,590 8 December 31, 2025 In case of an event of default under the New Promissory Note, interest shall accrue at the lesser of (i) a rate of 12% per annum or (ii) the maximum amount permitted by law, and once the event of default is cured, the interest rate shall revert to 8% per annum. Furthermore, under the terms of the New Promissory Note, an event of default may result, at the holder’s election, in the accelerated maturity of the New Promissory Note, in which case 110% of the principal of and accrued and unpaid interest on the note will automatically become due and payable On November 1, 2024, following consummation of the Convertible Note Exchange Agreement and the Warrant Exchange and Extinguishment Agreement, Project Nickel acquired and became the beneficial owner of 2,000,000,000 1,350,000,000 650,000,000 650,000 63.7 5 On October 31, 2024, in connection with the Company’s issuance of 650,000 1,000,000 0.001 The material features of the Series D Preferred Stock are as follows: 1. Holders of Series D Preferred Stock are not entitled to vote, except as otherwise expressly provided by law; 2. With respect to any dividends or other distributions, the Series D Preferred Stock ranks in parity to the Common Stock, on an as-converted basis; 3. With respect to any assets of the Company upon a liquidation, dissolution or winding up of the Company, the Series D Preferred Stock ranks in parity to the Common Stock, on an as-converted basis; 4. Shares of Series D Preferred Stock are not redeemable; 5. Shares of Series D Preferred Stock are convertible or exchangeable by holder into shares of Common Stock, at any time such Common Shares are authorized but unissued, on a one-for-one thousand (1-for-1000) basis; and 6. Shares of Series D Preferred Stock are transferrable or assignable without the prior written consent of the Company. The Certificate of Designation was filed with the Secretary of State of the State of Delaware on October 31, 2024. Promptly following the filing of the Certificate of Designation, the Company will issue 650,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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 $ 26 8 250 0 0
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. The following table presents the activities of digital currencies for the periods ended March 31, 2024 and December 31, 2023: Schedule of Digital Currencies Digital currencies at January 1, 2023 $ 11 Additions of digital currencies from mining 75 Realized gain on sale of digital currencies 3 Sale of digital currencies (89 ) Digital currencies at December 31, 2023 - Additions of digital currencies from mining 17 Realized loss on sale of digital currencies 1 Sale of digital currencies (18 ) Digital currencies at March 31, 2024 $ -
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.
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   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 may be 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 to the mining pool, 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 35 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 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 in the form of digital assets, 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 therefore 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. Hosting Revenues We receive revenues from third parties renting capacity at our facility and from hosting miners owned by others. The Company recognized $ 85 86 100 100
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.
Income (loss) per share	Income (loss) per share Basic income (loss) per share is calculated by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share is calculated by dividing the net income (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 convertible debt and warrants, are not reflected in diluted net income (loss) per share because such potential shares are anti–dilutive due to the Company’s net income (loss). Accordingly, the computation of diluted loss per share for the quarter ended March 31, 2024 excludes 1,417,604,442 787,558,023 691,073,030 342,277,865
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). 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 March 31, 2024 and December 31, 2023, the Company had Level 3 financial instruments related to derivative liabilities related to the issuance of warrants and convertible debt.
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 11 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed 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 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)”

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Digital Currencies	The following table presents the activities of digital currencies for the periods ended March 31, 2024 and December 31, 2023: Schedule of Digital Currencies Digital currencies at January 1, 2023 $ 11 Additions of digital currencies from mining 75 Realized gain on sale of digital currencies 3 Sale of digital currencies (89 ) Digital currencies at December 31, 2023 - Additions of digital currencies from mining 17 Realized loss on sale of digital currencies 1 Sale of digital currencies (18 ) Digital currencies at March 31, 2024 $ -

Property, Plant, and Equipmen_2

Property, Plant, and Equipment and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Schedule of Property and Equipment March 31, December 31, As of March 31, December 31, Land $ 55 $ 55 Computer hardware and software 10 10 Bitcoin mining machines 70 70 Infrastructure 1,185 1,185 Containers 403 403 Property and equipment, gross 1,723 1,723 Less: Accumulated depreciation (871 ) (816 ) Property and equipment, net $ 852 $ 907

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Monte Carlo Simulation Assumption	Schedule of Monte Carlo Simulation Assumption March 31, 2024 December 31, 2023 Stock price $ 0.003 $ 0.004 Term (years) 0.75 1.00 Annual volatility 101.59 % 108.59 % Annual expected return 11.16 % 10.24 % Discount rate 5.21 % 4.79 % 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 three months ended March 31, 2024: Schedule of Derivative Liability Activity Balance of derivative liability at January 1, 2023 $ 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 Settlement of derivative liability at debt conversion (284 ) Change in fair value of derivative liability (384 ) Balance of derivative liability at March 31, 2024 $ 2,676
Schedule of Warrant Derivative Liabilities	The Company’s activity in its warrant derivative liabilities was as follows for the three months ended March 31, 2024: Schedule of Warrant Derivative Liabilities Balance of warrant derivative liability at January 1, 2023 $ 1,727 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (159 ) Change in fair value of warrant derivative liability 2,685 Balance of derivative liability at December 31, 2023 4,253 Transfer in due to issuance of warrants with embedded conversion features 520 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (547 ) Change in fair value of warrant liability (79 ) Balance of warrant derivative liabilities at March 31, 2024 $ 4,147
Schedule of Derivative Liability Fair value	Schedule of Derivative Liability Fair value Level 1 Level 2 Level 3 Fair Value March 31, 2024 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 2,676 $ 2,676 Warrant derivative liability $ - $ - $ 4,147 $ 4,147 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

Common Stock and Preferred St_2

Common Stock and Preferred Stock (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Summary of Warrants Outstanding	The following table summarizes information about shares issuable under warrants outstanding during the three months ended March 31, 2024: Summary of Warrants Outstanding Warrant Weighted Weighted Intrinsic Outstanding at January 1, 2023 682,563,502 $ 0.06 4.47 - Issued 551,515,432 - - - Exercised (31,668,360 ) 0.05 - - Expired or cancelled - - - - Outstanding and exercisable at December 31, 2023 1,202,410,574 0.06 3.18 - Issued 453,360,000 0.01 - - Exercised - - - - Expired or cancelled - - - - Outstanding and exercisable at March 31, 2024 1,655,770,574 $ 0.01 2.21 $ - (*) Of the 453,360,000 551,515,432 1,655,770,574 1,202,410,574 1,119,044,442 1,417,604,442 154,800,000 298,560,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
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 )

Going Concern and Management__2

Going Concern and Management’s Plans (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 431,743	$ 432,039
Cash and cash equivalents	$ 26

Schedule of Digital Currencies

Schedule of Digital Currencies (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Digital currencies, Beginning balance		$ 11
Additions of digital currencies from mining	17	75
Realized gain on sale of digital currencies	1	3
Sale of digital currencies	(18)	(89)
Digital currencies, Ending balance

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Product Information [Line Items]
Cash and cash equivalents	$ 26		$ 8
Cash, FDIC uninsured amount	$ 0		$ 0
Convertible Notes Payable [Member]
Product Information [Line Items]
Computation of earnings per share	1,417,604,442	342,277,865
Warrant [Member]
Product Information [Line Items]
Computation of earnings per share	787,558,023	691,073,030
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Three Customers [Member]
Product Information [Line Items]
Concentration risk percentage	100%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Product Information [Line Items]
Concentration risk percentage		100%
Hosting Miners [Member]
Product Information [Line Items]
Revenue	$ 85	$ 86
Maximum [Member]
Product Information [Line Items]
Cash, FDIC insured amount	$ 250

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,723	$ 1,723
Less: Accumulated depreciation	(871)	(816)
Property and equipment, net	852	907
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	70
Infrastructures [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

Property, Plant, and Equipmen_3

Property, Plant, and Equipment and Other Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 55	$ 56
Gains on sale of property and equipment		$ 70

Schedule of Monte Carlo Simulat

Schedule of Monte Carlo Simulation Assumption (Details) - Monte Carlo Simulation [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares
Credit Derivatives [Line Items]
Stock price	$ 0.003	$ 0.004
Measurement Input, Expected Term [Member]
Credit Derivatives [Line Items]
Term (years)	9 months	1 year
Measurement Input, Option Volatility [Member]
Credit Derivatives [Line Items]
Debt measurement input	101.59	108.59
Measurement Input Annual Expected Return [Member]
Credit Derivatives [Line Items]
Debt measurement input	11.16	10.24
Measurement Input, Discount Rate [Member]
Credit Derivatives [Line Items]
Debt measurement input	5.21	4.79
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	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt Disclosure [Abstract]
Balance of derivative liabilities	$ 3,344	$ 3,223	$ 3,223
Settlement of derivative liability at debt conversion	(284)		(128)
Change in fair value of derivative liability	(384)	1,347	249
Change in fair value of derivative liability	384	(1,347)	(249)
Balance of derivative liabilities	$ 2,676	$ 4,570	$ 3,344

Schedule of Warrant Derivative

Schedule of Warrant Derivative Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Balance of warrant derivative liabilities	$ 4,253	$ 1,727
Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions	(547)	(159)
Change in fair value of derivative liability	(79)	2,685
Transfer in due to issuance of warrants with embedded conversion features	520
Balance of warrant derivative liabilities	$ 4,147	$ 4,253

Schedule of Derivative Liabil_2

Schedule of Derivative Liability Fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Platform Operator, Crypto Asset [Line Items]
Derivative liability	$ 2,676	$ 3,344
Warrant derivative liability	4,147	4,253
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	2,676	3,344
Warrant derivative liability	$ 4,147	$ 4,253

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) $ in Thousands			3 Months Ended		12 Months Ended
	Dec. 19, 2023 USD ($)	Sep. 12, 2022 USD ($)	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)
Short-Term Debt [Line Items]
Accretion of debt discount			$ 54	$ 123
Fair value of derivative liability			2,676	4,570	$ 3,344	$ 3,223
Change in fair value of derivative warrant liability			384	(1,347)	(249)
Fair value of derivative liability			4,147		4,253
Loss in change in fair value of derivative warrant liability			106	(1,696)	$ 2,685
Gain loss on settlement of derivative			$ 0	$ 169
Warrant Derivative Liabilities [Member] | Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Share price | $ / shares			$ 0.003		$ 0.003
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Exercise Price [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input | $ / shares			0.004		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			0.14		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			1 year 11 months 4 days		2 years 18 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 11 months 4 days		2 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] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input			4.40		4.01
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			4.59		4.23
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Price Volatility [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input			283.3		157.7
Warrant Derivative Liabilities Other than Warrants [Member] | Measurement Input, Price Volatility [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input			334.6		312.4
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 issuance
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 issuance
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 issuance
Warrant [Member]
Short-Term Debt [Line Items]
Debt instrument debt conversion, shares | shares			154,800,000
Debt instrument, conversion ratio	0.60
Change in fair value of derivative warrant liability					$ (231)
Warrant [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Share price | $ / shares			$ 0.0025		$ 0.007
Warrant [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Share price | $ / shares			0.0046		0.019
Warrant [Member] | Measurement Input, Share Price [Member]
Short-Term Debt [Line Items]
Share price | $ / shares			$ 0.003		$ 0.004
Warrant [Member] | Measurement Input, Expected Term [Member]
Short-Term Debt [Line Items]
Derivative liabilities measurement input term			1 year 5 months 12 days		1 year 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			4.81		4.23
Warrant [Member] | Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Derivative liability measurement input			374.27		344.4
September 2022 Note [Member]
Short-Term Debt [Line Items]
Proceeds from notes payable		$ 1,335
Principal amount		1,500
Original issue discount		$ 165
Convertible outstanding shares percentage		30%
Maturity date		Dec. 31, 2023
Interest rate		6%
Percentage of other accrued amounts outstanding		110%
Interest rate increasing		12%
Debt instrument debt discount		$ 1,500
Non-cash interest as accretion of debt discount		$ 5,324
Accretion of debt discount			$ 123
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%
Debt instrument debt discount			284
Accretion of debt discount			54		$ 7
Debt instrument debt converted			$ 137
Debt instrument debt conversion, shares | shares			86,000,000
Debt instrument debt converted, fair value of shares			$ 294
Fair value of derivative liability			21
Gain on debt settlement			$ 106

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)				3 Months Ended
	Mar. 06, 2024	Nov. 20, 2023	Aug. 01, 2023	Mar. 31, 2024	Mar. 31, 2023
Short-Term Debt [Line Items]
Notes payable				$ 200,000
Related Party [Member]
Short-Term Debt [Line Items]
Interest expense loan				100	$ 0
Loans payable			$ 15,000
Loan bears interest rate percentage			4.43%
Loans Payable [Member]
Short-Term Debt [Line Items]
Non-convertible loan	$ 75,000	$ 25,000
Annual interest rate	12%	12%
Maturity date	Mar. 05, 2025	Nov. 19, 2024
Interest expense loan				$ 1,300	$ 0

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Monthly rent	$ 0	$ 0

Summary of Warrants Outstanding

Summary of Warrants Outstanding (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares, Issued	1,119,044,442	1,417,604,442
Warrant shares, Exercised		(18,380,379)
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, Beginning	1,202,410,574	682,563,502
Weighted average exercise price, Beginning	$ 0.06	$ 0.06
Weighted average remaining life	2 years 2 months 15 days	3 years 2 months 4 days	4 years 5 months 19 days
Intrinsic value outstanding, Beginning
Warrant shares, Issued	453,360,000	551,515,432
Weighted average exercise price, Issued	$ 0.01
Warrant shares, Exercised		(31,668,360)
Weighted average exercise price, Exercised		$ 0.05
Warrant shares, Expired or cancelled
Weighted average exercise price, Expired or cancelled
Warrant shares outstanding, Ending	1,655,770,574	1,202,410,574	682,563,502
Weighted average exercise price, Ending	$ 0.01	$ 0.06	$ 0.06
Intrinsic value outstanding, Ending

Summary of Warrants Outstandi_2

Summary of Warrants Outstanding (Details) (Parenthetical) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, Issued	1,119,044,442	1,417,604,442
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, Issued	453,360,000	551,515,432
Warrant outstanding	1,655,770,574	1,202,410,574	682,563,502
Number of warrants issued	154,800,000
Number of warrants issued during the current period	298,560,000

Common Stock and Preferred St_3

Common Stock and Preferred Stock (Details Narrative)		3 Months Ended		12 Months Ended
	Aug. 05, 2022 USD ($) $ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares sold	22,800,000
Warrants to purchase shares of common stock	7,600,000
Number of shares issued, value | $	$ 228,000	$ 144,000
Number of warrants				18,380,379
Gain loss on derivative net | $		384,000	$ (1,347,000)	$ (249,000)
Cashless exercise of warrants fair value | $			200,000
Gain loss on settlement of derivative | $			$ (169,000)
Year One [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercise price | $ / shares	$ 0.03
Year Two [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercise price | $ / shares	0.06
Year Three [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercise price | $ / shares	$ 0.12
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Principal amount | $		$ 137,000
Conversion of convertible note into common stock		86,000,000
Shares issued in respect of lease agreement		8,000,000
Number of shares issued, value | $		$ 8,000
Cashless exercise of warrants fair value, shares			20,000,000
Cashless exercise of warrants fair value | $			$ 20,000
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants				31,668,360
Number of warrants (or share units) exercised during the current period				74,000,000
Gain loss on derivative net | $				$ (231,000)
Cashless exercise of warrants fair value, shares				74,000,000
Cashless exercise of warrants fair value | $				$ 988,000
Gain loss on settlement of derivative | $				$ 757,000
Number of warrants issued		154,800,000
Number of warrants issued during the current period		298,560,000
Warrant [Member] | Measurement Input, Exercise Price [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input | $ / shares				0.05
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input		0		0
Warrant [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share price | $ / shares		$ 0.0025		$ 0.007
Warrant [Member] | Minimum [Member] | Measurement Input, Exercise Price [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input | $ / shares		0.0036
Warrant [Member] | Minimum [Member] | Measurement Input, Expected Term [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding, term		2 years 9 months 10 days		3 years 6 months
Warrant [Member] | Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input		4.02		1.53
Warrant [Member] | Minimum [Member] | Measurement Input, Price Volatility [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input		279.2		169.28
Warrant [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share price | $ / shares		$ 0.0046		$ 0.019
Warrant [Member] | Maximum [Member] | Measurement Input, Exercise Price [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input | $ / shares		0.0068
Warrant [Member] | Maximum [Member] | Measurement Input, Expected Term [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding, term		2 years 11 months 4 days		4 years 2 months 12 days
Warrant [Member] | Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input		4.4		3.79
Warrant [Member] | Maximum [Member] | Measurement Input, Price Volatility [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input		283.8		175.6

Schedule of Loss at Inception (

Schedule of Loss at Inception (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Commitments and Contingencies Disclosure [Abstract]
Total lease payments to be received	$ 920,000
Equity fair measurement value on share | shares	184,000,000
Equity fair measurement value on grant date per share | $ / shares	$ 0.006
Equity fair value adjustment	$ 1,104,000
Loss at Inception	$ (184,000)

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands		3 Months Ended
	Mar. 16, 2023	Mar. 31, 2024	Mar. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Rental payments		$ 0	$ 0
Lease incentive loss		184
Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued under lease agreement, value		$ 120	$ 0
Shares issued under lease agreement, shares		8,000,000	0
Lease liability		$ 24	$ 0
Partnership Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Rental payments	$ 5
Initial deposit on electricity deployment	$ 229
Other commitment, description	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.

Employee Benefit Plans (Details

Employee Benefit Plans (Details Narrative) - 401(k) Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employer discretionary contribution amount	$ 1	$ 3
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan maximum annual contributions per employee percent	100%

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - Related Party [Member] - USD ($)		3 Months Ended
	Aug. 01, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Loans payable	$ 15,000
Loan bears interest rate percentage	4.43%
Interest expense loan		$ 100	$ 0
Accounts payable		$ 25,000		$ 15,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)					3 Months Ended	12 Months Ended
	Nov. 01, 2024	Jun. 21, 2024	May 03, 2024	Apr. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Oct. 31, 2024	Mar. 06, 2024	Nov. 20, 2023
Subsequent Event [Line Items]
Shares authorized					2,500,000,000	2,500,000,000
Promissory Note Exchange Agreement [Member] | New Promissory Note [Member]
Subsequent Event [Line Items]
Principal amount								$ 125,000	$ 25,000
Common Stock [Member]
Subsequent Event [Line Items]
Shares issued					8,000,000
Principal amount					$ 137,000
Warrant [Member]
Subsequent Event [Line Items]
Number of shares issued					154,800,000
Number of warrants exercised during the current period						74,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares issued			40,000,000
Conversions of note in principal amounts			$ 100,000
Subsequent Event [Member] | Series D Preferred Stock [Member]
Subsequent Event [Line Items]
Shares issued							650,000
Subsequent Event [Member] | Series D Convertible Preferred Stock [Member]
Subsequent Event [Line Items]
Preferred stock shares authorized							1,000,000
Preferred stock par value							$ 0.001
Subsequent Event [Member] | Convertible Note Exchange Agreement [Member] | Secured Convertible Promissory Note [Member]
Subsequent Event [Line Items]
Issuance date	Dec. 19, 2023
Principal amount	$ 1,578,840
Bearing interest rate	6%
Subsequent Event [Member] | Convertible Note Exchange Agreement [Member] | New Secured Exchange Note [Member]
Subsequent Event [Line Items]
Issuance date	Nov. 01, 2024
Principal amount	$ 1,620,240
Bearing interest rate	8%
Maturity date	Dec. 31, 2025
Shares authorized	750,000,000
Debt instrument description	(i) a rate of 12% per annum or (ii) the maximum amount permitted by law, and once the event of default is cured, the interest rate shall revert to 8% per annum. Furthermore, under the terms of the New Secured Exchange Note, an event of default may result, at the holder’s election, in the accelerated maturity of the note, in which case 110% of the principal of and accrued and unpaid interest on the note will automatically become due and payable
Subsequent Event [Member] | Warrant Exchange And Extinguishment Agreement [Member] | Series D Preferred Stock [Member]
Subsequent Event [Line Items]
Shares issued	650,000
Convertible conversion of shares	1,000
Shares issued							650,000
Subsequent Event [Member] | Promissory Note Exchange Agreement [Member] | New Promissory Note [Member]
Subsequent Event [Line Items]
Principal amount	$ 241,590			$ 50,000
Bearing interest rate	8%
Maturity date	Dec. 31, 2025
Debt instrument description	In case of an event of default under the New Promissory Note, interest shall accrue at the lesser of (i) a rate of 12% per annum or (ii) the maximum amount permitted by law, and once the event of default is cured, the interest rate shall revert to 8% per annum. Furthermore, under the terms of the New Promissory Note, an event of default may result, at the holder’s election, in the accelerated maturity of the New Promissory Note, in which case 110% of the principal of and accrued and unpaid interest on the note will automatically become due and payable
Subsequent Event [Member] | Promissory Note Exchange Agreement [Member] | Existing Promissory Note [Member]
Subsequent Event [Line Items]
Principal amount	$ 241,590
Subsequent Event [Member] | Convertible Note Exchange Agreement And Warrant Exchange And Extinguishment Agreement [Member] | Nickel LLC [Member]
Subsequent Event [Line Items]
Ownership percentage	63.70%
Subsequent Event [Member] | Convertible Note Exchange Agreement And Warrant Exchange And Extinguishment Agreement [Member] | Streeterville Capital LLC [Member]
Subsequent Event [Line Items]
Ownership percentage	5%
Subsequent Event [Member] | Convertible Note Exchange Agreement And Warrant Exchange And Extinguishment Agreement [Member] | Series D Preferred Stock [Member]
Subsequent Event [Line Items]
Convertible conversion of shares	650,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Shares issued		103,500,000		54,000,000
Subsequent Event [Member] | Common Stock [Member] | Warrant Exchange And Extinguishment Agreement [Member]
Subsequent Event [Line Items]
Shares issued	600,000,000
Convertible conversion of shares	334,800,000
Subsequent Event [Member] | Common Stock [Member] | Convertible Note Exchange Agreement And Warrant Exchange And Extinguishment Agreement [Member]
Subsequent Event [Line Items]
Shares issued	2,000,000,000
Convertible conversion of shares	650,000,000
Shares issued	1,350,000,000
Subsequent Event [Member] | Warrant [Member]
Subsequent Event [Line Items]
Number of warrants exercised during the current period		3,346,420