Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Property, plant, and equipment, net	$ 1,547,856	$ 935,295
Cash and cash equivalents	62,536	408,529
Restricted cash	29,195	0
Prepaid expenses and other assets	75,804	47,753
Operating lease right-of-use assets	47,745	21,737
Total assets	1,763,136	1,413,314
Liabilities and stockholders’ equity
Debt, net	520,091	109,799
Accounts payable and accrued liabilities	149,691	176,572
Operating lease liabilities	56,297	21,320
Other liabilities	5,400	9,751
Total liabilities	731,479	317,442
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, $0.001 par value; 2,400,000,000 shares authorized, 638,115,075 and 629,839,790 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	638	628
Preferred stock, $0.001 par value; 10,000,000 shares authorized, and no shares issued or outstanding as of June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	1,378,717	1,228,443
Accumulated deficit	(347,698)	(133,199)
Total stockholders’ equity	1,031,657	1,095,872
Total liabilities and stockholders’ equity	$ 1,763,136	$ 1,413,314

Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.

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- Definition

Amount of excess of issue price over par or stated value of stock and from other transaction involving stock or stockholder. Includes, but is not limited to, additional paid-in capital (APIC) for common and preferred stock.