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10. LEASES | 9 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
LEASES | 10. LEASES In January 2024, the Company ceased usage of its prior corporate headquarters, which was accounted for as an operating lease. As of June 2024, the Company has not sub-leased the location and has impaired the right of use asset in the amount of $396 and has recorded this as "impairment expense - other" on the Condensed Consolidated Statements of Operations and Comprehensive Loss. In April 2024, the Company entered into a new operating land lease in Dalton, GA for the expansion of a fourth bitcoin mining location, which is located adjacent to one of its current facilities. The lease is for a total of $18 per year for five years, for which the Company recorded a right of use asset and operating lease liability of $122. In connection with the acquisition of the LN Energy locations (see Note 3 - Acquisitions), the Company assumed four land leases, which are included in the tables below. The Company's lease costs recognized during the nine months ended June 30, 2024 and 2023 in the unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss consist of the following:
|  | For the three months ended |  |  | For the nine months ended |
($ in thousands) |  | June 30, 2024 |  |  | June 30, 2023 |  |  | June 30, 2024 |  |  | June 30, 2023 |
Operating lease cost (1) |  | $ | 47 |  |  | $ | 62 |  |  | $ | 140 |  |  | $ | 221 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation expense of financed assets |  | $ | 27 |  |  | $ | 37 |  |  | $ | 109 |  |  | $ | 156 |
Interest on lease obligations |  | $ | 1 |  |  | $ | 20 |  |  | $ | 3 |  |  | $ | 30 |
(1) Included in general and administrative expenses Other lease information is as follows:
|  | For the nine months ended |
($ in thousands) |  | June 30, 2024 |  |  | June 30, 2023 |
Cash paid for amounts included in measurement of lease obligations: |  |  |  |  |  |
Operating cash outflows from operating leases |  | $ | 161 |  |  | $ | 240 |
Operating cash outflows from finance leases |  | $ | 3 |  |  | $ | 30 |
Financing cash outflows from finance leases |  | $ | 117 |  |  | $ | 249 |
|  | June 30, 2024 |  |  | September 30, 2023 |
Weighted-average remaining lease term - operating leases |  | 7.1 years |  |  | 4.0 years |
Weighted-average remaining lease term - finance leases |  | 0.4 years |  |  | 2.1 years |
Weighted-average discount rate - operating leases |  |  | 6.80 | % |  |  | 5.40 | %
Weighted-average discount rate - finance leases |  |  | 5.50 | % |  |  | 5.50 | %
The following is a schedule of the Company's lease liabilities by contractual maturity as of June 30, 2024:
($ in thousands) Fiscal Year |  | Operating Leases |  |  | Finance Leases |
Remainder of 2024 |  | $ | 103 |  |  | $ | 14 |
2025 |  |  | 296 |  |  |  | 9 |
2026 |  |  | 299 |  |  |  | — |
2027 |  |  | 204 |  |  |  | — |
2028 |  |  | 142 |  |  |  | — |
Thereafter |  |  | 781 |  |  |  | — |
Gross lease liabilities |  |  | 1,825 |  |  |  | 23 |
Less: imputed interest |  |  | (906 | ) |  |  | — |
Present value of lease liabilities |  | $ | 919 |  |  | $ | 23 |
Less: Current portion of lease liabilities |  |  | (198 | ) |  |  | (23 | )
Total lease liabilities, net of current portion |  | $ | 721 |  |  | $ | — |

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