v3.26.1
SEGMENTS - Schedule of Segment Profit (Loss) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Significant Accounting Policies [Line Items]        
HPC lease revenue $ 31,932 $ 0 $ 52,954 $ 0
Digital asset mining revenue 12,835 47,636 25,825 82,041
Cost of revenue (exclusive of depreciation) 12,400 22,094 14,761 46,647
Segment profit (loss) 8,929 22,028 29,378 28,988
Depreciation 21,241 18,786 49,718 34,360
Loss (gain) on fair value of digital assets, net 799 (887) 1,452 (17)
Change in fair value of contingent consideration 0 1,600 0 1,600
Impairment of property, plant, and equipment 0 0 25,697 0
Loss on disposals of property, plant, and equipment 399 3,831 399 3,831
Operating loss (140,450) (15,590) (302,592) (75,218)
Interest expense (56,389) (4,012) (123,460) (8,061)
Change in fair value of warrants (755,667) 0 (971,992) 0
Loss on extinguishment of debt (7,116) 0 (7,116) 0
Interest income 28,956 1,232 58,367 3,491
Other income 930 0 930 0
Loss before income tax and equity in net loss of investee (929,736) (18,370) (1,345,863) (79,788)
Nonrelated Party        
Significant Accounting Policies [Line Items]        
Operating expenses (including related party) 21,705 2,039 30,721 3,183
Selling, general and administrative expenses 112,411 9,996 240,016 56,569
Related Party        
Significant Accounting Policies [Line Items]        
Operating expenses (including related party) 1,733 1,475 3,919 3,223
Selling, general and administrative expenses 14,529 4,292 14,688 7,863
HPC Leasing Segment        
Significant Accounting Policies [Line Items]        
HPC lease revenue 31,932 0 52,954 0
Cost of revenue (exclusive of depreciation) 4,452 0 6,903 0
Operating expenses (including related party) 18,473 0 26,805 0
Segment profit (loss) 9,007 0 19,246 0
Digital Asset Mining Segment        
Significant Accounting Policies [Line Items]        
Digital asset mining revenue 12,835 47,636 25,825 82,041
Cost of revenue (exclusive of depreciation) 7,948 22,094 7,858 46,647
Operating expenses (including related party) 4,965 3,514 7,835 6,406
Segment profit (loss) $ (78) $ 22,028 $ 10,132 $ 28,988