I’m going through some 10-Q filings of public mining companies and will update with my findings. Here are some initial observations:

• $CLSK Cleanspark originally had their depreciation period set at 5 years but revised it to 3 years, resulting in an impairment expense on fixed assets of $189 million, which is about 50% of their yearly revenue.

• $RIOT Riot Platforms extended their depreciation period from 2 years to 3 years, which provided some relief in their results.

• The mining operations of CLSK result in a total cost per BTC of $69,617

• The total company operates at a cost of $80,840 per BTC. This excludes the impairment expense on their S19 machines, which will be replaced by the end of 2024.