Intangible Assets

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes intangible assets, net (in thousands):


	June 30, 2026		December 31, 2025
Supplier agreements	$	36,977	$	37,525
Customer related	485		—

	37,462		37,525
Accumulated amortization:
Supplier agreements	(36,699)		(35,915)
Customer related	(9)		—

	(36,708)		(35,915)
Intangible assets, net	$	754	$	1,610

Amortization expense for intangible assets was $0.4 million for both the three months ended June 30, 2026 and 2025. Amortization expense of intangible assets was $0.8 million and $0.7 million for the six months ended June 30, 2026 and 2025, respectively.

Estimated amortization expense for intangible assets is approximately $0.3 million for the remainder of 2026 and $0.1 million, $0.1 million, $0.1 million, $0.1 million, and in fiscal years 2027, 2028, 2029, and 2030, respectively.

Impairment of Intangible Assets

For three and six months ended June 30, 2026, the Company recorded an impairment charge to supplier agreements related to the decline in Bitcoin prices. The Company compared the indicated fair value to the carrying value of its finite-lived asset, and as a result of the analysis, an impairment charge of $0.6 million was recorded. For the three and six months ended June 30, 2025, there were no impairments recognized.