The components of fixed assets as of March 31, 2026 and December 31, 2025 are as follows:


	Useful Life	March 31, 2026			December 31, 2025
Mining machines	9 months - 4 years	$	22,518,772		$	22,388,471
Mining site equipment	6-10 years		4,984,547			4,827,888
Building	30 years		467,707			569,480
Real estate assets owned	30 years		80,056			80,056
Furniture, computer and office equipment	3-5 years		463,048			440,313
Land			525,000			525,000
Gross fixed assets			29,039,130			28,831,208
Less: accumulated depreciation			(19,676,353	)		(18,913,858	)
Fixed assets, net		$	9,362,777		$	9,917,350

As of March 31, 2026 and December 31, 2025, there were approximately 7,500 and 7,200 miners, respectively, located at various hosting sites. The Company’s depreciation expense recognized for the three months ended March 31, 2026 and 2025 was $0.8 million and $2.0 million, respectively.

There was nil and $187 thousand loss on disposal of fixed assets during the three months ended March 31, 2026 and 2025, respectively.

Intangible assets as of March 31, 2026 and December 31, 2025 consist of the following:


	Useful Life (Years)	March 31, 2026			December 31, 2025
Power and interconnection rights	25	$	6,578,600		$	6,578,600
Gross intangible assets			6,578,600			6,578,600
Less: accumulated amortization			(316,620	)		(250,831	)
Total intangible assets, net		$	6,261,980		$	6,327,769

The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows:


Fiscal year ended December 31,		Estimated Amortization Expense
2026 (9 months remaining)	$		197,355
2027			263,144
2028			263,144
2029			263,144
2030			263,144
Thereafter			5,012,049
Total	$		6,261,980

During the three months ended March 31, 2026 and 2025 the Company recognized $66 thousand and $55 thousand amortization expense, respectively.