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7. PROPERTY AND EQUIPMENT | 6 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | 7. PROPERTY AND EQUIPMENT Property and equipment consist of the following:
($ in thousands) |  | March 31, 2023 |  |  | September 30, 2022 |
Land |  | $ | 2,978 |  |  | $ | 2,978 |
Land improvements |  |  | 1,564 |  |  |  | 1,530 |
Building and improvements |  |  | 50,853 |  |  |  | 32,332 |
Leasehold improvements |  |  | 672 |  |  |  | 114 |
Miners |  |  | 418,417 |  |  |  | 356,501 |
Mining equipment |  |  | 18,672 |  |  |  | 17,587 |
Infrastructure |  |  | 18,695 |  |  |  | 12,422 |
Machinery and equipment |  |  | 1,525 |  |  |  | 1,269 |
Furniture and fixtures |  |  | 364 |  |  |  | 331 |
Construction in progress |  |  | 19,265 |  |  |  | 4,816 |
Total |  | $ | 533,005 |  |  | $ | 429,880 |
Less: accumulated depreciation |  |  | (92,752 | ) |  |  | (53,099 | )
Property and equipment, net |  | $ | 440,253 |  |  | $ | 376,781 |
Depreciation expense for the six months ended March 31, 2023 and 2022 was $39,656 and $16,898, respectively. There were no disposals during the six months ended March 31, 2023. For the three months ended March 31, 2022, $3,979 of property and equipment was sold for a gain of $921. For the six months ended March 31, 2022, $4,390 of property and equipment was disposed of for a gain of $643, which included $411 of property and equipment that was written-off resulting in a loss of $278. The Company placed-in service property and equipment of $88,675 during the six months ended March 31, 2023, which includes $31,192 in property and equipment acquired in the Mawson Transaction. This increase in fixed assets primarily consisted of miners and mining equipment of $63,002, which includes $12,914 acquired in the Mawson Transaction. Construction in progress: The Company is expanding its facilities in the State of Georgia, including infrastructure, building, and land improvements to expand its mining operations. As of March 31, 2023, the Company has outstanding deposits totaling $34,020 for mining equipment included in long-term assets on the consolidated balance sheets. The Company also has $3,500 in prepaid expense relating to payments made on the purchase of infrastructure assets. These prepayments will be applied to the purchase price when the vendor ships the miners and the infrastructure assets.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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