SUBSEQUENT EVENTS	3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Hunt County Acquisition On May 5, 2026, the Company completed its acquisition of 100% of the membership interests of Telios Quinlan One, LLC, a Delaware limited liability company that owns approximately 260 acres of land in Hunt County, Texas, together with a related electric service agreement with Farmers Electric Cooperative, Inc. for an approximately 430 MW project, which the Company intends to develop as a future data center site. The aggregate purchase price was approximately $232.5 million in cash, of which a $2.0 million deposit was paid in January 2026 and is included in Other current assets on the condensed consolidated balance sheet as of March 31, 2026. In January 2026, in connection with the related electric service agreement, the Company posted $33.0 million of cash collateral to Farmers Electric Cooperative, Inc., which is included in Other noncurrent assets on the condensed consolidated balance sheet as of March 31, 2026. Polaris DS LLC Merger Agreement On May 5, 2026, the Company entered into an Agreement and Plan of Merger to acquire Polaris DS LLC, which owns an approximately 40-acre site adjacent to the Company's existing Muskogee, Oklahoma data center operations and electric service agreements providing for up to 440 MW of gross utility power capacity. The aggregate purchase price is approximately $421 million in cash, subject to customary adjustments and certain contingent payments. Concurrently with execution, the Company deposited an additional $60 million into the existing escrow account, bringing the total deposit (recorded in restricted cash) to $120 million, which will be applied to the purchase price at closing. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026.

SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2026

15. SUBSEQUENT EVENTS

Hunt County Acquisition

On May 5, 2026, the Company completed its acquisition of 100% of the membership interests of Telios Quinlan One, LLC, a

Delaware limited liability company that owns approximately 260 acres of land in Hunt County, Texas, together with a related electric

service agreement with Farmers Electric Cooperative, Inc. for an approximately 430 MW project, which the Company intends to

develop as a future data center site. The aggregate purchase price was approximately $232.5 million in cash, of which a $2.0 million

deposit was paid in January 2026 and is included in Other current assets on the condensed consolidated balance sheet as of March 31,

2026. In January 2026, in connection with the related electric service agreement, the Company posted $33.0 million of cash collateral

to Farmers Electric Cooperative, Inc., which is included in Other noncurrent assets on the condensed consolidated balance sheet as of

March 31, 2026.

Polaris DS LLC Merger Agreement

On May 5, 2026, the Company entered into an Agreement and Plan of Merger to acquire Polaris DS LLC, which owns an

approximately 40-acre site adjacent to the Company's existing Muskogee, Oklahoma data center operations and electric service

agreements providing for up to 440 MW of gross utility power capacity. The aggregate purchase price is approximately $421 million

in cash, subject to customary adjustments and certain contingent payments. Concurrently with execution, the Company deposited an

additional $60 million into the existing escrow account, bringing the total deposit (recorded in restricted cash) to $120 million, which

will be applied to the purchase price at closing. The transaction is subject to customary closing conditions and is expected to close in

the third quarter of 2026.