10. INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

10. INTANGIBLE ASSETS

Intangible assets consisted of the following as of September 30, 2024 and 2023:


	September 30, 2024							September 30, 2023
($ in thousands)	Intangible assets		Accumulated amortization			Net intangible assets		Intangible assets		Accumulated amortization			Net intangible assets
Software	$	981	$	(230	)	$	751	$	440	$	(90	)	$	350
Websites		15		(13	)		2		15		(8	)		7
Strategic Contract		9,800		(7,513	)		2,287		9,800		(5,554	)		4,246
Total	$	10,796	$	(7,756	)	$	3,040	$	10,255	$	(5,652	)	$	4,603

The strategic contract relates to the supply of a critical input to the Company’s bitcoin mining business at significantly lower prices compared to market.

Amortization expense for the years ended September 30, 2024, 2023 and 2022 was $2,140, $2,113 and $1,963, respectively.

During the years ended September 30, 2024 and 2023, the Company did not incur impairment losses related to the above intangible assets.

The following table presents the estimated amortization expense based on the Company’s amortizing intangible assets as of September 30, 2024:


Fiscal Year
($ in thousands)	September 30, 2024
2025	$	2,158
2026		522
2027		193
2028		117
2029		50
Total	$	3,040