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Intangible Assets | 9 Months Ended | 12 Months Ended
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Sep. 30, 2024 | Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |  |
Intangible Assets | 5. Intangible Assets Intangible assets consist of the following as of September 30, 2024: Schedule of Intangible Assets
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 27,349 |  |  | $ | 19,536 |
Assembled workforce |  |  | 500 |  |  |  | 292 |  |  |  | 208 |
Patents |  |  | 259 |  |  |  | 17 |  |  |  | 242 |
Total |  | $ | 47,644 |  |  | $ | 27,658 |  |  | $ | 19,986 |
Intangible assets consist of the following as of December 31, 2023:
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 20,317 |  |  | $ | 26,568 |
Assembled workforce |  |  | 500 |  |  |  | 216 |  |  |  | 284 |
Patents |  |  | 165 |  |  |  | 10 |  |  |  | 155 |
Total |  | $ | 47,550 |  |  | $ | 20,543 |  |  | $ | 27,007 |
Amortization expense for the three and nine months ended September 30, 2024 and 2023 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 Expense of Intangible Assets
(Dollars in thousands) |  |  |
Year |  | 2024 |
2024 (remainder of the year) |  | $ | 2,372 |
2025 |  |  | 9,490 |
2026 |  |  | 7,910 |
2027 |  |  | 12 |
2028 |  |  | 12 |
Thereafter |  |  | 190 |
Total |  | $ | 19,986 |
| 6. Intangible Assets Intangible assets consist of the following as of December 31, 2023: Schedule of Intangible Assets
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 20,317 |  |  | $ | 26,568 |
Assembled workforce |  |  | 500 |  |  |  | 216 |  |  |  | 284 |
Patents |  |  | 165 |  |  |  | 10 |  |  |  | 155 |
Total |  | $ | 47,550 |  |  | $ | 20,543 |  |  | $ | 27,007 |
Intangible assets consist of the following as of December 31, 2022:
(Dollars in thousands) |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Total |
Strategic pipeline contract |  | $ | 46,885 |  |  | $ | 10,940 |  |  | $ | 35,945 |
Assembled workforce |  |  | 500 |  |  |  | 117 |  |  |  | 383 |
Patents |  |  | 110 |  |  |  | 6 |  |  |  | 104 |
Total |  | $ | 47,495 |  |  | $ | 11,063 |  |  | $ | 36,432 |
Amortization expense for the year ended December 31, 2023 and 2022 was approximately $9.5 million and $9.5 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: Schedule of Amortization Expense of Intangible Assets
(Dollars in thousands) |  |  |
Year ending December 31, |  |  |
2024 |  | $ | 9,485 |
2025 |  |  | 9,485 |
2026 |  |  | 7,905 |
2027 |  |  | 8 |
2028 |  |  | 8 |
Thereafter |  |  | 116 |
Total |  | $ | 27,007 |

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