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5. BITCOIN
 12 Months Ended
Sep. 30, 2023
Common Domain Members [Abstract]  
BITCOIN

5. BITCOIN

As of September 30, 2023 and 2022, the Company held 2,243 and 595 bitcoin, respectively. The following table presents the activities of the Company's bitcoin holdings for the years ended September 30, 2023 and 2022:

 

 ($ in thousands)

 

 

 

 

 

 

 

 

For the year ended September 30,

 

 

 

2023

 

 

2022

 

Balance at beginning of Fiscal Year

 

$

11,147

 

 

$

23,603

 

Addition of bitcoin

 

 

168,121

 

 

 

131,000

 

Carrying amount of bitcoin sold

 

 

(114,915

)

 

 

(130,635

)

Bitcoin issued for services

 

 

(720

)

 

 

(611

)

Bitcoin issued for software

 

 

(229

)

 

 

—

 

Impairment loss

 

 

(7,163

)

 

 

(12,210

)

Balance at end of Fiscal Year

 

$

56,241

 

 

$

11,147

 

 

The Company's bitcoin holdings are not subject to rehypothecation and do not serve as collateral for any existing loans or agreements. As of September 30, 2023, the Company held 95% of its bitcoin in cold storage and 5% in hot wallets.