| Schedule of Components of Property and Equipment |
The components of property and equipment as of September 30, 2024 and December 31, 2023 are:
| | | | | | | | | | | | | | | | | | | | | | (in thousands, except useful life) | | Useful life (Years) | | September 30, 2024 | | December 31, 2023 | Land (1) | | — | | $ | 4,649 | | | $ | — | | | Land improvements | | 9 | | 25,246 | | | — | | | Building and improvements | | 25 | | 50,866 | | | — | | | Mining rigs | | 3 | | 1,191,928 | | | 862,055 | | | Containers | | 10 - 15 | | 56,977 | | | 5,676 | | | Equipment | | 4 - 15 | | 65,622 | | | — | | | Software and hardware | | 2 | | 3,307 | | | — | | | Asset retirement obligation | | 8 | | 7,879 | | | — | | | Construction in progress | | — | | 145,311 | | — | | | Other | | 7 | | 839 | | 242 | | Total gross property, equipment | | | | 1,552,624 | | 867,973 | | Less: Accumulated depreciation and amortization | | | | (460,484) | | (196,201) | | Property and equipment, net | | | | $ | 1,092,140 | | | $ | 671,772 | |
(1) Refer to Note 15 - Leases, for further information regarding the Company’s finance land lease.
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