Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)

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How to Measure Useful Life of Cryptocurrency Mining Hardware

Authors
Zhefu Feng1, 3, Feng Liu2, 3, *, Jiayin Qi3, *
1School of Statistics and Information, Shanghai University of International Business and Economics, Shanghai, China
2School of Computer Science and Technology, East China Normal University, Shanghai, China
3Institute of Artificial Intelligence and Change Management, Shanghai University of International Business and Economics, Shanghai, China
*Corresponding author. Email: lsttoy@163.com
*Corresponding author. Email: qijiayin@139.com
Corresponding Authors
Feng Liu, Jiayin Qi
Available Online 20 December 2022.
DOI
10.2991/978-94-6463-030-5_62How to use a DOI?
Keywords
Cryptocurrency Mining Hardware; Useful Life; Economic Life; Daily Profit
Abstract

The largest Chinese Cryptocurrency Mining Hardware (MH) Company applied half one year on useful life of MH and disclosed it as inventory. However, MH is more a fixed asset according to financial report. We want to know whether the useful life of MH is set reasonable. By proposing economic life method, we find MH’s economic life over one year and it’s more suitable to be disclosed as fixed asset. Besides, we disclose the recalculated values after adjusting useful life of MH in the appendix, which shows that cost of sales increases over 6.22%, and gross profit decreases over 10.95% compared to the original data in 2018. The distorted data might mislead investors, so the improved method to estimate the useful life could help objectively reflect the financial situation.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
20 December 2022
ISBN
978-94-6463-030-5
ISSN
2589-4919
DOI
10.2991/978-94-6463-030-5_62How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Zhefu Feng
AU  - Feng Liu
AU  - Jiayin Qi
PY  - 2022
DA  - 2022/12/20
TI  - How to Measure Useful Life of Cryptocurrency Mining Hardware
BT  - Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
PB  - Atlantis Press
SP  - 614
EP  - 622
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-030-5_62
DO  - 10.2991/978-94-6463-030-5_62
ID  - Feng2022
ER  -