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v3.23.3

Property and Equipment | 3 Months Ended
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Aug. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment consisted of the following as of August 31, 2023, and May 31, 2023 (in thousands):
| Estimated Useful Life |  | August 31, 2023 |  | May 31, 2023
Hosting equipment |  |  |  |  |
Electric generation and transformers | 15 years |  | $ | 7,763 |  |  | $ | 4,655 |
Other equipment and fixtures | 5 years - 7 years |  | 3,101 |  |  | 1,684 |
Construction in progress |  |  | 97,280 |  |  | 106,226 |
Information systems and software | 5 years |  | 27,570 |  |  | 21,173 |
Land and building |  |  |  |  |
Land |  |  | 2,152 |  |  | 2,152 |
Land improvements | 15 years |  | 1,296 |  |  | 1,293 |
Building | 39 years |  | 88,346 |  |  | 63,350 |
Leasehold improvements | 3 years - 6 years |  | 2,299 |  |  | — |
Total cost of property and equipment |  |  | 229,807 |  |  | 200,533 |
Accumulated depreciation |  |  | (7,141) |  |  | (4,940) |
Property and equipment, net |  |  | $ | 222,666 |  |  | $ | 195,593 |
Depreciation expense totaled $2.2 million and $0.8 million and for the three months ended August 31, 2023 and 2022, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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