v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Operating Lease Liability
The following is a maturity analysis of the annual undiscounted cash flows of the estimated operating and finance lease liabilities as of June 30, 2026 (in thousands):
Operating Lease LiabilityFinance Lease Liability
Remainder of 2026
$1,766 $11 
20273,543 22 
20283,559 22 
20293,612 22 
20303,703 22 
Thereafter17,839 635 
$34,022 $734 
Schedule of Finance Lease Liability
The following is a maturity analysis of the annual undiscounted cash flows of the estimated operating and finance lease liabilities as of June 30, 2026 (in thousands):
Operating Lease LiabilityFinance Lease Liability
Remainder of 2026
$1,766 $11 
20273,543 22 
20283,559 22 
20293,612 22 
20303,703 22 
Thereafter17,839 635 
$34,022 $734 
Reconciliation of the Undiscounted Cash Flows to the Operating Lease Liabilities
A reconciliation of the undiscounted cash flows to the operating and finance lease liabilities recognized in the condensed consolidated balance sheet as of June 30, 2026 follows (in thousands):
Operating Lease LiabilityFinance Lease Liability
Undiscounted cash flows of the lease
$34,022 $734 
Unamortized discount10,700 444 
Total lease liability
23,322 290 
Current portion of lease liability
2,102 2 
Lease liability, net of current portion
$21,220 $288 
Schedule of Lease Income for the Operating Lease
The components of HPC lease revenue for the operating lease were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Lease income relating to lease payments$26,924 $— $44,485 $— 
Variable lease payments 5,008 — 8,469 — 
Total HPC lease revenue
$31,932 $— $52,954 $— 
Schedule of Operating Lease Payments
The following table represents the maturity analysis of commenced minimum operating lease payments expected to be received as of June 30, 2026, and thereafter (in thousands):
Operating Lease
Remainder of 2026
$40,233 
202792,464 
2028129,972 
2029141,925 
2030
146,183 
Thereafter906,481 
$1,457,258 
Schedule of Leased Property, Plant and Equipment, Net
Leased plant and equipment, net consisted of the following (in thousands):
June 30, 2026December 31, 2025
Computer equipment$8,335 $2,867 
Electrical equipment180,110 43,200 
Leasehold improvements437,902 126,927 
Total626,347 172,994 
Less: accumulated depreciation(9,605)(2,655)
Leased property and equipment, net$616,742 $170,339