FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Fair Values of Financial Instruments and their Level within the Fair Value Hierarchy

The following table presents the fair values of the Company’s financial instruments, excluding accounts receivable, net and accounts payable and accrued expenses and their level within the fair value hierarchy:


		As of June 30,	As of December 31,
Measurement		2026	2025
Financial assets at amortized cost
Cash	Level 1	715,516	573,462
Restricted cash	Level 1	53,377	57,500
Other receivables	Level 2	1,820	1,405
Security deposits for energy	Level 2	—	5,157
Other refundable deposits	Level 3	350	350
Financial assets at fair value through profit and loss
Derivative assets	Level 2	78,800	7,487
Total fair value of financial assets		849,863	645,361
Financial liabilities at amortized cost
Long-term debt*	Level 2	1,055,678	699,657
Financial liabilities at fair value through profit and loss
Derivative liabilities	Level 2	—	2,922
Total fair value of financial liabilities		1,055,678	702,579
Net fair value		(205,815)	(57,218)

*The Credit Facility and the 2025 Convertible Notes are recognized at amortized cost using the effective interest rate method. As of December 31, 2025, their carrying amounts amounted to $94,808 and $571,315, respectively, whereas their fair values, which are based on discounted cash flows using a current borrowing rate, amounted to $106,060 and $590,252, respectively. As of June 30, 2026, the carrying amount and the fair value of the Convertible Notes amounted to $1,022,092 and $1,051,941, respectively.

Schedule of Future Principal Capital Payment of Long-term Debt and Future Minimum Lease Payments under Non-Cancellable Leases

The following table presents the future principal capital payment of long-term debt and the future minimum lease payments required under non-cancellable leases as of June 30, 2026:


	2026	2027	2028	2029	2030 +	Total
Long-term debt	383	744	716	601	1,049,158	1,051,602
Lease liabilities	2,504	3,758	3,769	3,673	13,337	27,041
	2,887	4,502	4,485	4,274	1,062,495	1,078,643