
(in thousands, except useful life)	Useful life (Years)	March 31, 2026		December 31, 2025
Land (1)	—	$	3,685	$	3,510
Land improvements	9	53,515		34,409
Building and improvements	25	91,587		91,486
Mining rigs	3	2,022,076		2,057,933
Containers	10 - 15	134,608		120,000
Mining and transportation equipment	4 - 15	328,355		295,332


Construction in progress	—	4,548		75,653
Other	7	8,053		7,327
Total gross property, equipment		2,646,427		2,685,650
Less: Accumulated depreciation and amortization		(1,240,295)		(1,195,015)
Property and equipment, net		$	1,406,132	$	1,490,635

Depreciation expense related to property and equipment for the three months ended March 31, 2026 and 2025 was $186.6 million and $154.8 million, respectively.

During the three months ended March 31, 2026, the Company reassessed the expected future use of certain mining rigs, resulting in accelerated depreciation of $20.1 million included in “Depreciation and amortization” on the Condensed Consolidated Statements of Operations.

Additionally, during the three months ended March 31, 2026, the Company recognized an impairment charge of $41.8 million related to the elimination of certain business activities involving mining rigs and equipment as part of the 2026 Restructuring Plan. This charge is included in “Restructuring costs” on the Condensed Consolidated

Statements of Operations. The Company did not incur any impairment charges related to its property and equipment for the three months ended March 31, 2025.

The Company’s asset retirement obligations represent the estimated present value of future costs to return a data mining site back to its original state. The Company’s accretion expense related to the asset retirement obligation for the three months ended March 31, 2026 and 2025 was $0.2 million and $0.3 million, respectively. Asset retirement obligations are accreted over the term of the leases.