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17. SUBSEQUENT EVENTS | 6 Months Ended
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Mar. 31, 2024
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 17. SUBSEQUENT EVENTS We have evaluated events occurring between April 1, 2024 through May 8, 2024. There were no material subsequent events except as disclosed below: At-the-Market Equity Issuances From April 1, 2024 through May 8, 2024, the Company issued 2,342,000 shares under its March 2024 ATM Amendment offering facility resulting in net proceeds of approximately $45,502. Issuance of Shares from Option Exercises From April 1, through May 8, 2024, the Company issued 58,469 shares of common stock relating to exercises of employee stock options. Miner Purchase Agreement On April 11, 2024, the Company entered into a Supplemental Agreement with Bitmain Technologies to amend certain terms of the Future Sales and Purchase Agreement dated January 6, 2024. The Supplemental Agreement amends the January 2024 Bitmain Technologies contract by modifying the type of miners to be purchased under the option from the S21 model to the upgraded S21 Pro model at a total purchase price of $374,400 for 100,000 units. The Company has paid a combined total of $93,600, of which $32,000 was paid as of March 31, 2024 and is included in Deposits on miners and mining equipment in our Consolidated Balance Sheets, and the remainder of $61,600 was paid in April 2024. Bitcoin Reward Halving On April 20, 2024, the bitcoin rewards issued for each block solved dropped from 6.25 to 3.125, effectively reducing the non-cash consideration received from bitcoin mining by 50% (excluding transactions fee rewards).

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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