PROPERTY, PLANT AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment, net consisted of the following (in thousands):

	September 30, 2025		December 31, 2024
Miners	$	213,948	$	192,655
Construction in process	409,043		107,624
Leasehold improvements	254,740		91,614
Equipment	87,784		32,031
Office furniture and fixtures	375		—
Vehicles	151		104
Deposits on miners	—		53,913
Total	966,041		477,941
Less: accumulated depreciation	(104,263)		(66,072)
Property and equipment, net	$	861,778	$	411,869