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Deposits

6 Months Ended

Jun. 30, 2025

Note 10. Deposits

The following table presents the activity of the Company’s deposits paid:


Deposits on equipment:
Balance as of January 1, 2025	$	4,495
Additions		86,403
Reclassifications to property and equipment		(27,573)
Balance as of June 30, 2025	$	63,325
Security deposits:
Balance as of January 1, 2025	$	25,620
Additions		143
Deposits returned		(429)
Balance as of June 30, 2025		25,334
Total long-term deposits	$	88,659

Deposits on Equipment

During the six months ended June 30, 2025, the Company made deposits and advance payments of $80.7 million to MicroBT for the purchase of miners and made deposits of $5.7 million for the purchase of other property and equipment, primarily consisting of electrical components used in the development of the Corsicana Facility. During the six months ended June 30, 2025, the Company reclassified $20.4 million of deposits made to MicroBT and $7.2 million of other deposits to property and equipment in connection with the receipt of the equipment. See Note 7. Property and Equipment.

Security Deposits

During the year ended December 31, 2023, the Company paid $23.0 million, all of which remains held as a deposit as of June 30, 2025, as a security deposit in connection with its 215 MW increase to the long-term, fixed-price power secured under the Rockdale PPA, resulting in a total of 345 MW under contract at fixed prices. See Note 9. Power Supply Agreements.

The Company has other security deposits totaling approximately $2.3 million for its offices and facilities, including $1.8 million associated with its ground lease.