IFRScommunity.com

Hello,

Could you please advise what is the usefull life of bitcoin machines? Is it the similar as computers?

Thanks

What is a bitcoin machine?

ok. I think you'd need someone with knowledge of the industry to comment. maybe it gets obsolete for some technical reason, maybe they overheat after 6 months because they're on 24/7, maybe they can go for 25 years solidly.

yes, they operate 24/7. Google provides different terms of usuful life, 1-3 years approximately. I'm just wondering maybe someone else has similar experience and will advise how to amortize them correctly.

I just looked at a crypto mining company and they use 2 years due to the rate of change of technology in crypto mining .


https://s3.eu-west-2.amazonaws.com/docu ... dbe461b732

Thanks, JRSB. The technology changes rapidly and value of these machines declines very quickly.

I'd focus at technical obsolescence as JRSB suggested. I'm not an expert in cryptocurrencies, but it's my understanding that crypto mining demands increasingly higher computing power as the ledgers expand. This implies that the same computing resources will yield lesser results, say, a year from now. Given your company's investment in these machines, it's likely your colleagues have deeper insights into this than we do

Thank, Marek. Unfortunatelly, my collegues are not experts at all and don't have any idea how to record these machines properly

And as it usually happens, the accountants and owners have different points of view regarding bookkeeping, depreciation and etc

Not experts at bitcoin mining that is?

not at all