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Intangible Assets | 3 Months Ended
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Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets |
| 6. | Intangible Assets
Intangible assets consist of the following as of March 31, 2022:
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
For the year ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 3,906 |  |  | $ | 42,979 |
Assembled workforce |  |  | 500 |  |  |  | 42 |  |  |  | 458 |
Patents |  |  | 73 |  |  |  | 1 |  |  |  | 72 |
Total |  | $ | 47,458 |  |  | $ | 3,949 |  |  | $ | 43,509 |
Intangible assets consist of the following as of December 31, 2021:
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
For the year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 1,562 |  |  | $ | 45,323 |
Assembled workforce |  |  | 500 |  |  |  | 17 |  |  |  | 483 |
Patents |  |  | 33 |  |  |  | — |  |  |  | 33 |
Total |  | $ | 47,418 |  |  | $ | 1,579 |  |  | $ | 45,839 |
There were no intangible assets or amortization expense as of March 31, 2021. Amortization expense for the three months ended March 31, 2022 was approximately $2.4 million. The strategic pipeline contract relates to supply of a critical input to our digital mining business. The Company has analyzed this strategic pipeline contract similar to a permit for future benefit. The strategic pipeline contract relates to potential renewable energy datacenters that fit in the alignment of the Company structure to expand operations of the Company’s new focus in their business. The Company expects to record amortization expense of intangible assets over the next five years and thereafter as follows:
(Dollars in thousands) |  |  |  |
Year |  |  | 2022 |
2022 (remainder of the year) |  |  | $ | 7,110 |
2023 |  |  |  | 9,481 |
2024 |  |  |  | 9,481 |
2025 |  |  |  | 9,481 |
2026 |  |  |  | 7,900 |
Thereafter |  |  |  | 56 |
Total |  |  | $ | 43,509 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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