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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
The cost basis and accumulated depreciation of property, plant and equipment as of December 31, 2025 and 2024 are summarized in the table below:
Life in YearsAs of December 31,
(in thousands)20252024
Land and land improvements
6+(1)
$2,100 $1,596 
Plant and operating equipment
2-29
158,490 86,297 
Furniture and fixtures
3-19
1,981 2,053 
Machinery and equipment
2-12
1,165 2,124 
Leasehold improvements
12-14
2,149 3,137 
Construction in progress5,644 109,976 
171,529 205,183 
Less accumulated depreciation(28,375)(26,619)
Total property, plant and equipment, net$143,154 $178,564 
(1) Land Improvements have a useful life between 6 and 31 years.
Included in plant and operating equipment as of December 31, 2025 and 2024 is mining equipment financed under various lease facilities, and obligations due under these facilities are included in long-term debt in the Consolidated Balance Sheets. The total amount recorded for ROU assets as of December 31, 2025 and 2024 related to finance lease obligations was $0.3 million and $0.8 million, respectively, net of accumulated depreciation of $2.8 million and $3.2 million.
Depreciation expense for the years ended December 31, 2025 and 2024 was $10.2 million and $6.9 million, respectively.