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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Sep. 30, 2023
Accounting Policies [Abstract] |
Schedule of Accounts Receivable | Accounts receivable, net consists of the following:
($ in thousands) |  | September 30, 2023 |  |  | September 30, 2022 |
Accounts Receivable, gross |  | $ | 353 |  |  | $ | 247 |
Provision for doubtful allowances |  |  | (348 | ) |  |  | (220 | )
Total Accounts Receivable, net |  | $ | 5 |  |  | $ | 27 |
Schedule of Earnings Per Share Basic and Diluted | Provided below is the loss per share calculation for the years ended September 30, 2023 and 2022:
|  | For the Year Ended September 30, |
($ in thousands, except share and per share) |  | 2023 |  |  | 2022 |
Continuing Operations |  |  |  |  |  |
Numerator |  |  |  |  |  |
Loss from continuing operations |  | $ | (132,160 | ) |  | $ | (40,089 | )
Preferred stock dividends |  |  | — |  |  |  | 336 |
Loss from continuing operations attributable to common shareholders |  | $ | (132,160 | ) |  | $ | (40,425 | )
Denominator |  |  |  |  |  |
Weighted- average common shares outstanding, basic |  |  | 102,707,509 |  |  |  | 42,614,197 |
Dilutive impact of stock options and other share-based awards |  |  | — |  |  |  | — |
Dilutive impact of contingent shares issued for business acquisition |  |  | — |  |  |  | — |
Weighted- average common shares outstanding, diluted |  |  | 102,707,509 |  |  |  | 42,614,197 |
Loss from continuing operations per common share attributable to common shareholders |  |  |  |  |  |
Basic |  | $ | (1.29 | ) |  | $ | (0.95 | )
Diluted |  | $ | (1.29 | ) |  | $ | (0.95 | )
Discontinued Operations |  |  |  |  |  |
Numerator |  |  |  |  |  |
Loss on discontinued operations |  | $ | (4,429 | ) |  | $ | (17,237 | )
Denominator |  |  |  |  |  |
Weighted- average common shares outstanding, basic |  |  | 102,707,509 |  |  |  | 42,614,197 |
Dilutive impact of stock options and other share-based awards |  |  | — |  |  |  | — |
Dilutive impact of contingent shares issued for business acquisition |  |  | — |  |  |  | — |
Weighted- average common shares outstanding, diluted |  |  | 102,707,509 |  |  |  | 42,614,197 |
Loss on discontinued operations per common share attributable to common shareholders |  |  |  |  |  |
Basic |  | $ | (0.04 | ) |  | $ | (0.40 | )
Diluted |  | $ | (0.04 | ) |  | $ | (0.40 | )
Schedule of Estimated Useful Life of Asset | Depreciation is calculated on a straight-line basis over the estimated useful life of the asset as follows:
|  | Useful life (years)
Land improvements |  | 5 - 15
Building and building improvements |  | Shorter of lease term or 30 years
Leasehold improvements | ﻿ | Shorter of lease term or 15 years
Miners |  | 3 - 5
Mining equipment |  | 3 - 15
Infrastructure asset |  | Shorter of lease term or 15 years
Machinery and equipment |  | 3 - 10
Furniture and fixtures |  | 1 - 5
Schedule of Impairment Loss | During the years ended September 30, 2023 and 2022, the Company incurred the following impairment losses:
($ in thousands) |  | September 30, 2023 |  |  | September 30, 2022 |
Impairment of bitcoin |  | $ | 7,163 |  |  | $ | 12,210 |
Impairment of goodwill |  |  | — |  |  |  | 12,048 |
Total impairment loss |  | $ | 7,163 |  |  | $ | 24,258 |
Schedule of Segment Wise Goodwill Activity | The following table reflects goodwill activity for the years ended September 30, 2023 and 2022, respectively:
($ in thousands) |  |  |  |  |  |
|  | For the year ended September 30, |
|  | 2023 |  |  | 2022 |
Balance at beginning of Fiscal Year |  | $ | — |  |  | $ | 12,048 |
New Acquisitions |  |  | 8,043 |  |  |  | — |
Impairment |  |  | — |  |  |  | (12,048 | )
Balance at end of Fiscal Year |  | $ | 8,043 |  |  | $ | — |
Schedule of Finite Lived Intangible Assets Useful Lives | The Company amortizes intangible assets with finite lives over their estimated useful lives, which range between two and twenty years as follows:
|  | Useful life (years)
Websites |  | 3
Software |  | 4-7
Strategic contract |  | 5
Schedule of Financial Instruments | The following table presents the Company’s financial instruments that are measured and recorded at fair value on the Company’s consolidated balance sheets on a recurring basis, and their level within the fair value hierarchy as of September 30, 2023 and September 30, 2022: September 30, 2023:
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Derivative investment asset |  | $ | 2,697 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,697 |
Investment in debt security |  |  | 726 |  |  |  | — |  |  |  | — |  |  |  | 726 |
Total |  | $ | 3,423 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,423 |
September 30, 2022:
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Derivative investment asset |  | $ | 2,956 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,956 |
Investment in debt security |  |  | 610 |  |  |  | — |  |  |  | — |  |  |  | 610 |
Total |  | $ | 3,566 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,566 |

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