v3.26.1
PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 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):

 

   June 30, 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   (1,049)   (660)
Property and equipment, net  $5,973   $4,246 

 

Depreciation expense on property and equipment was approximately $0.3 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively and $0.5 million and $0.3 million for the six months ended June 30, 2026 and 2025, respectively.