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Mining Equipment, Net
 9 Months Ended
Sep. 30, 2025
Mining Equipment, Net [Abstract]  
MINING EQUIPMENT, NET

Note 6. Property and equipment, net

 

The components of property and equipment were as follows:

 

(in USD thousands)

 

September 30, 2025

 

 

December 31, 2024

 

Miners and mining equipment

 

$

439,533

 

 

$

74,230

 

Less: Accumulated depreciation

 

 

(68,710

)

 

 

(31,141

)

Total property and equipment, net

 

$

370,823

 

 

$

43,089

 

 

Depreciation and amortization expense related to property and equipment was $15.2 million and $4.3 million for the three months ended September 30, 2025 and September 30, 2024, respectively.

 

Depreciation and amortization expense related to property and equipment was $31.6 million and $17.8 million for the nine months ended September 30, 2025 and September 30, 2024, respectively.