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Intangible Assets, net | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, net | 5. Intangible Assets, net Intangible assets consist of the following as of September 30, 2025: Schedule of Intangiable Assets
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 36,727 |  |  | $ | 10,158 |
Assembled workforce |  |  | 500 |  |  |  | 392 |  |  |  | 108 |
Patents |  |  | 359 |  |  |  | 32 |  |  |  | 327 |
Total |  | $ | 47,744 |  |  | $ | 37,151 |  |  | $ | 10,593 |
Intangible assets consist of the following as of December 31, 2024:
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 29,694 |  |  | $ | 17,191 |
Assembled workforce |  |  | 500 |  |  |  | 317 |  |  |  | 183 |
Patents |  |  | 266 |  |  |  | 20 |  |  |  | 246 |
Total |  | $ | 47,651 |  |  | $ | 30,031 |  |  | $ | 17,620 |
Amortization expense for each of the three and nine months ended September 30, 2025 and 2024 was approximately $2.4 million and $7.1 million, respectively. The strategic pipeline contract relates to supply of a critical input to our digital mining and hosting 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: Schedule of Amortization of Intangiable Assets
(Dollars in thousands) |  |  |
Year |  | 2025 |
2025 (remainder of the year) |  | $ | 2,375 |
2026 |  |  | 7,914 |
2027 |  |  | 17 |
2028 |  |  | 17 |
2029 |  |  | 17 |
Thereafter |  |  | 253 |
Total |  | $ | 10,593 |

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