Property and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment, net consisted of the following:

	June 30,		December 31,
	2024		2023
	(in thousands)
Machinery, equipment, and vehicles	$	110,188	$	44,169
Land	19,253		19,253
Buildings and leasehold improvements	242,751		66,754
Construction-in-progress	14,735		196,324
Less: Accumulated depreciation	(18,666)		(13,334)
Property and equipment, net	$	368,261	$	313,166

Depreciation expense related to property and equipment was $3.0 million and $1.6 million for the three months ended June 30, 2024 and 2023, respectively, and $5.3 million and $3.4 million for the six months ended June 30, 2024 and 2023, respectively.