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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Mar. 31, 2024
Accounting Policies [Abstract] |
Schedule of Accounts Receivable | Accounts receivable, net consists of the following:
($ in thousands) |  | March 31, 2024 |  |  | September 30, 2023 |
Accounts Receivable, gross |  | $ | — |  |  | $ | 353 |
Provision for doubtful allowances |  |  | — |  |  |  | (348 | )
Total Accounts Receivable, net |  | $ | — |  |  | $ | 5 |
Schedule of Earnings Per Share Basic and Diluted | Provided below is the income (loss) per share calculation for the three and six months ended March 31, 2024 and 2023:
|  | For the Three Months Ended March 31, |  |  | For the Six Months Ended March 31, |
($ in thousands, except share and per share amounts) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Continuing Operations |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 126,735 |  |  | $ | (18,166 | ) |  | $ | 152,644 |  |  | $ | (48,654 | )
Preferred stock dividends |  |  | 2,842 |  |  |  | — |  |  |  | 3,421 |  |  |  | — |
Income (loss) from continuing operations attributable to common shareholders |  | $ | 123,893 |  |  | $ | (18,166 | ) |  | $ | 149,223 |  |  | $ | (48,654 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic |  |  | 209,287,089 |  |  |  | 80,469,471 |  |  |  | 193,964,904 |  |  |  | 73,450,877 |
Dilutive impact of stock options and other share-based awards |  |  | 2,811,979 |  |  |  | — |  |  |  | 2,938,690 |  |  |  | 581,205 |
Weighted-average common shares outstanding, diluted |  |  | 212,099,068 |  |  |  | 80,469,471 |  |  |  | 196,903,594 |  |  |  | 74,032,082 |
Income (loss) from continuing operations per common share attributable to common shareholders |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.59 |  |  | $ | (0.23 | ) |  | $ | 0.77 |  |  | $ | (0.66 | )
Diluted |  | $ | 0.58 |  |  | $ | (0.23 | ) |  | $ | 0.76 |  |  | $ | (0.66 | )
Discontinued Operations |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
(Loss) income from discontinued operations |  | $ | — |  |  | $ | (294 | ) |  | $ | — |  |  | $ | 1,163 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic |  |  | 209,287,089 |  |  |  | 80,469,471 |  |  |  | 193,964,904 |  |  |  | 73,450,877 |
Dilutive impact of stock options and other share-based awards |  |  | 2,811,979 |  |  |  | — |  |  |  | 2,938,690 |  |  |  | 581,205 |
Weighted-average common shares outstanding, diluted |  |  | 212,099,068 |  |  |  | 80,469,471 |  |  |  | 196,903,594 |  |  |  | 74,032,082 |
(Loss) income on discontinued operations per common share attributable to common shareholders |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | — |  |  | $ | (0.00 | ) |  | $ | — |  |  | $ | 0.02 |
Diluted |  | $ | — |  |  | $ | (0.00 | ) |  | $ | — |  |  | $ | 0.02 |
Schedule of Estimated Useful Life of Asset | Depreciation is calculated on a straight-line basis over the estimated useful life of the asset as follows:
|  | Useful life (years)
Land improvements |  | 5 - 15
Building and building improvements |  | Shorter of lease term or 30 years
Leasehold improvements | ﻿ | Shorter of lease term or 15 years
Miners |  | 3 - 5
Mining equipment |  | 3 - 15
Infrastructure asset |  | Shorter of lease term or 15 years
Machinery and equipment |  | 3 - 10
Furniture and fixtures |  | 1 - 5
Schedule of Financial Instruments | The following table presents the Company’s financial instruments that are measured and recorded at fair value on the Company’s balance sheets on a recurring basis and their level within the fair value hierarchy as of March 31, 2024 and September 30, 2023:
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Bitcoin |  | $ | 357,981 |  |  | $ | 357,981 |  |  | $ | — |  |  | $ | — |
Derivative investment asset |  |  | 505 |  |  |  | — |  |  |  | — |  |  |  | 505 |
Investment in debt security |  |  | 784 |  |  |  | — |  |  |  | — |  |  |  | 784 |
Total |  | $ | 359,270 |  |  | $ | 357,981 |  |  | $ | — |  |  | $ | 1,289 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Derivative investment asset |  | $ | 2,697 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,697 |
Investment in debt security |  |  | 726 |  |  |  | — |  |  |  | — |  |  |  | 726 |
Total |  | $ | 3,423 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,423 |

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