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Property and Equipment
 12 Months Ended
May 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following as of May 31, 2024 and 2023 (in thousands):
Estimated Useful LifeMay 31,
2024		May 31,
2023
Networking equipment, electrical equipment, and software
5 years$32,517 $21,173 
Electric generation and transformers15 years9,933 4,655 
Land and building
Building39 years103,990 63,350 
Land6,205 2,152 
Land improvements15 years1,380 1,293 
Leasehold improvements
3 years - 7 years
1,051 — 
Construction in progress190,162 108,784 
Other equipment and fixtures
5 years - 7 years
9,552 1,684 
Total cost of property and equipment354,790 203,091 
Accumulated depreciation(14,409)(4,940)
Property and equipment, net$340,381 $198,151 
Depreciation expense totaled $15.8 million and $3.9 million for the fiscal years ended May 31, 2024 and 2023, respectively.