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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

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