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6. BITCOIN (Tables)
 12 Months Ended
Sep. 30, 2024
Common Domain Members [Abstract]  
Schedule of Company's Bitcoin Holdings The following table presents a description of the Company's bitcoin holdings as of September 30, 2024 and 2023:

 

 

 

As of

 

Bitcoin holdings

 

September 30, 2024

 

 

September 30, 2023

 

Number of bitcoin held

 

 

6,819

 

 

 

2,243

 

Cost basis - per bitcoin

 

$

55,408

 

 

$

25,074

 

Fair value - per bitcoin

 

$

63,301

 

 

$

26,961

 

Cost basis of bitcoin (in '000s)

 

$

377,839

 

 

$

56,241

 

Fair value of bitcoin (in '000s)

 

$

431,661

 

 

$

60,424

 
Schedule of Activities of The Bitcoin

The following table presents information based on the activity of bitcoin for the years ended September 30, 2024 and 2023:

 

 

 

 

 

 

 

 

 

 

For the year ended September 30,

 

 ($ in thousands)

 

2024

 

 

2023

 

Balance at beginning of the year

 

$

56,241

 

 

$

11,147

 

Cumulative effect of the adoption of ASC 350-60

 

 

4,183

 

 

 

—

 

Adjusted beginning balance - at fair value

 

$

60,424

 

 

$

11,147

 

Addition of bitcoin from mining activities(1)

 

 

378,968

 

 

 

168,121

 

Bitcoin sold & issued for services and purchase of software

 

 

(44,801

)

 

 

(115,864

)

Bitcoin transferred to collateral account

 

 

(87,895

)

 

 

—

 

Bitcoin received from collateral account

 

 

11,542

 

 

 

—

 

Impairment loss

 

 

—

 

 

 

(7,163

)

Gain on fair value of bitcoin, net

 

 

113,423

 

 

 

—

 

Balance at end of the year

 

$

431,661

 

 

$

56,241

 

(1) Net of mining pool fees as described in Note 2 - Summary of Significant Accounting Policies