v3.26.1
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following for the periods presented (in thousands):

 

   March 31, 2026   December 31, 2025 
Bitcoin Mining facility and infrastructure  $3,277   $2,555 
Bitminers   3,532    1,571 
Transformers and generators   213    780 
Total property and equipment  $7,022   $4,906 
Less: accumulated depreciation   (765)   (660)
Property and equipment, net  $6,257   $4,246 

 

Depreciation expense on property and equipment for the three months ended March 31, 2026 and 2025 was $0.3 million and $0.1 million, respectively.