v3.25.2
PROPERTY AND EQUIPMENT (Tables)
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
The following table represents property and equipment balances and accumulated depreciation as of June 30, 2025 and December 31, 2024:
(in thousands)
June 30, 2025
December 31, 2024
Corporate assets (1)
$12,651 $11,093 
Mining equipment165,942 172,572 
Data center infrastructure (2)
67,669 113,710 
Land16,587 12,809 
WIP / Construction in progress (3)
500,251 35,777 
Property and equipment, gross
763,100 345,961 
Less: Accumulated depreciation(66,769)(57,934)
Less: Impairment (4)
(100,211)(50,989)
Property and equipment, net
$596,120 $237,038 
__________________
(1)Corporate assets balances primarily relate to computer equipment, leasehold improvements, and furniture and fixtures.
(2)Data center infrastructure comprises land and improvements associated with our mining and Artificial Intelligence and High Performance Computing (“AI/HPC”) leasing businesses. During the six months ended June 30, 2025, a portion of data center infrastructure assets were transferred to WIP / Construction in progress as they are undergoing enhancements to support deployment of Galaxy’s AI/HPC operations.
(3)WIP/Construction in progress related to data center infrastructure under construction.
(4)Recognized in General and administrative expenses in the Company’s condensed consolidated interim statements of operations.