Property and Equipment and Right of Use Assets

6 Months Ended

Jun. 30, 2026

Property And Equipment And Right Of Use Assets

Property and Equipment and Right of Use Assets

Note 9. Property and Equipment and Right of Use Assets

Schedule of Property and Equipment

	June 30,			December 31,
	2026			2025
Computer equipment
At cost	$	21,171,492		$	16,863,167
Accumulated depreciation		(3,675,250	)		(1,666,017	)
Total computer equipment		17,496,242			15,197,150
Electrical equipment
At cost		8,712,037			-
Accumulated depreciation		(343,641	)		-
Total electrical equipment		8,368,396			-
Capitalized software
At cost		336,543			-
Accumulated amortization		(8,080	)		-
Total capitalized software		328,463			-
Other equipment
At cost		145,331			11,829
Accumulated depreciation		(15,125	)		(1,204	)
Total other equipment		130,206			10,625
Total property and equipment, net	$	26,323,307		$	15,207,775

Right of use assets
At cost		8,873,684			8,236,478
Accumulated amortization		(1,984,481	)		(1,095,601	)
Total right of use assets, net		6,889,203			7,140,877
Total property and equipment, net including right of use assets	$	33,212,510		$	22,348,652

Depreciation and amortization expense related to property and equipment amounted to $1,881 thousand and $3,199 thousand for the three and six months ended June 30, 2026, respectively, and $422 thousand and $804 thousand for the three and six months ended June 30, 2025, respectively. Foreign currency translation adjustments related to property and equipment were $28 thousand and ($64) thousand were recognized for the three and six-month ended June 30, 2026, respectively, and $79 thousand and $242 thousand for the three and six months ended June 30, 2025, respectively.