PROPERTY AND EQUIPMENT

6 Months Ended

Nov. 30, 2022

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following as of November 30, 2022, and May 31, 2022:


(in thousands)	Estimated Useful Life	November 30, 2022		May 31, 2022
Hosting Equipment
Electric Generation and Transformers	15 years	$	4,519	$	4,338

Other Equipment and Fixtures	5 years-7 years	718		588
Construction in Progress		83,290		18,305
Information Systems and Software	5 years	11,116		9,608
Land & Building
Land		2,152		1,074
Land Improvements	15 years	1,259		1,180
Building	39 years	32,519		30,176
Total cost of property and equipment		135,572		65,269
Accumulated Depreciation		(2,679)		(1,009)
Property Plant and Equipment, Net		$	132,893	$	64,260

Depreciation expense from continuing operations totaled $0.8 million and $0.2 million and for the three months ended November 30, 2022 and 2021, respectively. Depreciation expense from continuing operations totaled $1.7 million and $0.2 million and for the six months ended November 30, 2022 and 2021, respectively.