
(Dollars in thousands)	Intangible Assets		Impairment		Accumulated Amortization		Total

Strategic pipeline contract	$	46,885	$	—	$	43,760	$	3,125
Assembled workforce	500		—		466		34
Power purchase agreement	2,650		—		94		2,556
Patents	468		70		45		353
Total	$	50,503	$	70	$	44,365	$	6,068


(Dollars in thousands)	Intangible Assets		Accumulated Amortization		Total

Strategic pipeline contract	$	46,885	$	39,071	$	7,814
Assembled workforce	500		416		84
Patents	400		37		363
Total	$	47,785	$	39,524	$	8,261

Amortization expense for the three months ended June 30, 2026 and 2025 was approximately $2.5 million and $2.4 million, respectively. Amortization expense for the six months ended June 30, 2026 and 2025 was approximately $4.8 million and $4.7 million, respectively.

The strategic pipeline contract relates to supply of a critical input to our digital mining and hosting business. The Company has analyzed this strategic pipeline contract similar to a permit for future benefit. The strategic pipeline contract relates to potential renewable energy datacenters that fit in the alignment of the Company structure to expand operations of the Company’s new focus in their business.

As part of the Briscoe acquisition discussed in Note 5, the Company identified an above-market PPA with GSEC, which was initially executed February 24, 2023, as an identifiable intangible asset. The PPA provides for the sale of an increasing portion of the Briscoe Project’s energy output to GSEC, commencing at 25 MW and escalating toward full project capacity. The fair value assigned to the PPA intangible asset is $2.65 million, which is being amortized on a straight-line basis over its estimated remaining useful life of 7 years, resulting in quarterly amortization expense of approximately $94 thousand.

The Company expects to record amortization expense of intangible assets over the next five years and thereafter as follows:


(Dollars in thousands)
Year	2026
2026 (remainder of the year)	$	3,361
2027	400
2028	401
2029	400
2030	400
Thereafter	1,106
Total	$	6,068