v3.24.3
GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill

The components of goodwill as of September 30, 2024 are as follows:

As of September 30, 2024
GC Data Center Equity Holdings, LLC$30,852 
Garden City Acquisition14,510 
Total goodwill
$45,362 

The Company acquired goodwill from the GC Data Center Equity Holdings, LLC acquisition on January 12, 2024 and the Garden City Acquisition on April 1, 2024, refer to Note 3 – Acquisitions, for further information.

There was no goodwill as of December 31, 2023.

Intangible assets

The following table presents the Company’s intangible assets as of September 30, 2024:

As of September 30, 2024
(in thousands)CostAccumulated amortizationNet
Customer relationships$22,000 $(22,000)$— 
Intellectual property
2,633 (658)1,975 
Total intangible assets$24,633 $(22,658)$1,975 

In June 2024, the Company fully amortized customer relationships acquired in the GC Data Center Equity Holdings, LLC due to the Company’s strategic decision to exit hosting services business and termination of customer relationships during the period. Refer to Note 3 - Acquisitions, for further information.

There were no intangible assets as of December 31, 2023.

The following table presents the Company’s estimated future amortization of finite-lived intangible assets as of September 30, 2024:

Year
Amount
(in thousands)
2024 (remaining)$220 
2025878 
2026877 
Thereafter— 
Total$1,975