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v3.25.3

Property and Equipment, Net | 9 Months Ended
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Sep. 30, 2025
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024
Data center equipment | $ | 62,913 |  |  | $ | 54,552 |
Leased and financed data center equipment(1) | 66,925 |  |  | 65,037 |
Machinery and equipment | 28,462 |  |  | 16,872 |
Computer equipment | 2,251 |  |  | 2,239 |
Leasehold improvements | 128 |  |  | 244 |
Construction-in-progress | 108 |  |  | 311 |
Total property and equipment | 160,787 |  |  | 139,255 |
Less: accumulated depreciation and amortization | (105,032) |  |  | (96,306) |
Total property and equipment, net | $ | 55,755 |  |  | $ | 42,949 |
________________ (1) The carrying value of the Company’s equipment under finance lease agreements and lease financing obligations was $44.3 million and $35.7 million as of September 30, 2025 and December 31, 2024, respectively. The Company has long-lived assets, comprising of property and equipment, net and operating lease right-of-use assets in the following geographic areas (in thousands):
| September 30, 2025 |  | December 31, 2024
United States | $ | 67,678 |  |  | $ | 47,930 |
Canada | 2,930 |  |  | 3,309 |
The Netherlands | 10,076 |  |  | 7,583 |
Total property and equipment, net and operating lease right-of-use assets | $ | 80,684 |  |  | $ | 58,822 |

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