Leases (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Leases [Abstract] |
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| Schedule of Lease Liabilities |
As of September 30, 2026 and December 31, 2025, right-of-use asset and lease liabilities consisted of the following: | | | September 30,
2026 | | | December 31,
2025 | | | Operating right-of-use assets | | $ | 68,647 | | | $ | 12,053 | | | Finance right-of-use assets | | | - | | | | 12,602 | | | Total right-of-use-assets | | $ | 68,647 | | | $ | 24,655 | | | | | | | | | | | | | Operating lease liabilities | | | 69,476 | | | | 10,964 | | | Finance lease liabilities | | | - | | | | 12,911 | | | Total lease liabilities | | $ | 69,476 | | | $ | 23,875 | | The following table presents the components of the Company’s lease expense. GPU lease expenses and data center lease expenses related to operational data centers are included in cost of revenue; data center lease expenses incurred during construction and office lease expenses are included in general and administrative expenses: | | | For the Three Months Ended
September 30, | | | For the Nine Months Ended
September 30, | | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | Operating lease costs | | $ | 7,139 | | | $ | 5,412 | | | $ | 20,367 | | | $ | 16,091 | | | Finance lease costs | | | - | | | | - | | | | 427 | | | | - | | | Short-term lease costs | | | 77 | | | | 66 | | | | 227 | | | | 205 | | | Sublease income | | | (6 | ) | | | (6 | ) | | | (19 | ) | | | (19 | ) | | Total lease costs | | $ | 7,210 | | | $ | 5,472 | | | $ | 21,002 | | | $ | 16,277 | | Additional information regarding the Company’s leasing activities as a lessee is as follows: | | | For the Three Months Ended
September 30, | | | For the Nine Months Ended
September 30, | | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | Operating cash outflows from operating leases | | $ | (2,059 | ) | | $ | (1,957 | ) | | $ | (6,325 | ) | | $ | (5,140 | ) | | Operating cash outflows from finance lease | | | - | | | | - | | | | (216 | ) | | | - | | | Financing cash outflows from finance lease | | $ | - | | | $ | - | | | $ | (12,599 | ) | | $ | - | | | Weighted average remaining lease term – operating leases | | | 6.0 | | | | 21.4 | | | | 6.0 | | | | 21.4 | | | Weighted average discount rate – operating leases | | | 7.7 | % | | | 6.4 | % | | | 7.7 | % | | | 6.4 | % |
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| Schedule of Operating Lease Payments |
The following table represents our future minimum operating lease payments as of September 30, 2026: | Year | | Amount | | | 2026 | | $ | 3,807 | | | 2027 | | | 17,768 | | | 2028 | | | 15,813 | | | 2029 | | | 15,652 | | | 2030 | | | 15,706 | | | Thereafter | | | 16,209 | | | Total undiscounted lease payments | | | 84,955 | | | Less: present value discount | | | (15,479 | ) | | Present value of operating lease liabilities | | $ | 69,476 | |
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| Schedule of Lease Income for Sales-Type Lease |
The components of lease income for the sales-type lease were as follows: | | | For the Three Months Ended
September 30, | | | For the Nine Months Ended
September 30, | | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | Interest income related to net investment in lease | | $ | 294 | | | $ | 455 | | | $ | 984 | | | $ | 1,073 | | The components of net investment in sales-type leases were as follows: | | | September 30,
2026 | | | December 31,
2025 | | | Net investment in lease - lease payment receivable | | $ | 10,350 | | | $ | 13,948 | |
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| Schedule of Future Minimum Receipts for Sales-Type Lease |
The following table illustrates the Company’s future minimum receipts for sales-type lease as of September 30, 2026: | Year | | Sales-Type
Lease | | | 2026 | | $ | 909 | | | 2027 | | | 3,637 | | | 2028 | | | 3,637 | | | 2029 | | | 3,429 | | | 2030 | | | 848 | | | Total future minimum receipts | | | 12,460 | | | Unearned interest income | | | (2,098 | ) | | Less: Current expected credit losses | | | (12 | ) | | Net investment in lease, net | | $ | 10,350 | |
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| Schedule of Future Lease Payments to be Received from the Company Under Operating Lease Arrangements |
The following table illustrates the future lease payments to be received by the Company under its operating lease arrangements, including data center leases and subleases, as of September 30, 2026: | Year | | Operating
Lease | | | 2026 | | $ | 11,713 | | | 2027 | | | 47,648 | | | 2028 | | | 48,730 | | | 2029 | | | 49,845 | | | 2030 | | | 49,068 | | | Thereafter | | | 214,486 | | | Total future receipts | | $ | 421,490 | |
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