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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues, net        
Total revenues, net $ 104,108 $ 45,523 $ 289,693 $ 115,888
Costs and expenses        
Cost of revenues (exclusive of depreciation and amortization shown below) 45,180 20,681 108,374 63,179
Professional fees 4,368 2,225 8,149 8,806
Payroll expenses 17,150 10,405 49,291 29,957
General and administrative expenses 8,235 5,064 20,058 13,117
(Gain) loss on disposal of assets (47) 0 2,281 3
Loss (gain) on fair value of bitcoin, net (see Note 2 and Note 5) 48,338 0 (107,406) 0
Impairment expense - bitcoin 0 740 0 1,017
Impairment expense - fixed assets 189,235 0 189,235 0
Impairment expense - other 0 0 396 0
Realized loss (gain) on sale of bitcoin 0 143 0 (762)
Depreciation and amortization 40,727 21,850 102,761 62,525
Total costs and expenses 353,186 61,108 373,139 177,842
Loss from operations (249,078) (15,585) (83,446) (61,954)
Other income (expense)        
Other income 0 0 0 11
Change in fair value of contingent consideration 0 2,000 0 2,485
Unrealized gain (loss) on derivative security 1,188 105 (1,005) (1,110)
Interest income 2,638 52 5,909 174
Interest expense (485) (689) (1,557) (2,377)
Total other income (expense) 3,341 1,468 3,347 (817)
Loss before income tax expense (245,737) (14,117) (80,099) (62,771)
Income tax (benefit) expense (9,495) 0 3,499 0
Loss from continuing operations (236,242) (14,117) (83,598) (62,771)
Discontinued Operations        
(Loss) income from discontinued operations 0 (102) 0 1,061
Income tax expense 0 0 0 0
(Loss) income on discontinued operations 0 (102) 0 1,061
Net loss (236,242) (14,219) (83,598) (61,710)
Preferred stock dividends 0 0 3,421 0
Net loss attributable to common shareholders (236,242) (14,219) (87,019) (61,710)
Other comprehensive income 28 28 86 86
Total comprehensive (loss) income attributable to common shareholders $ (236,214) $ (14,191) $ (86,933) $ (61,624)
(Loss) income from continuing operations per common share - basic $ (1.03) $ (0.12) $ (0.42) $ (0.72)
Weighted average common shares outstanding - basic 228,642,939 114,844,402 205,482,062 87,248,719
(Loss) income from continuing operations per common share - diluted $ (1.03) $ (0.12) $ (0.42) $ (0.72)
Weighted average common shares outstanding - diluted 228,642,939 114,844,402 205,482,062 87,638,134
Income on discontinued operations per common share - basic $ 0 $ 0 $ 0 $ 0.01
Weighted average common shares outstanding - basic 228,642,939 114,844,402 205,482,062 87,248,719
Income on discontinued operations per common share - diluted $ 0 $ 0 $ 0 $ 0.01
Weighted average common shares outstanding - diluted 228,642,939 114,844,402 205,482,062 87,638,134
Other Services Revenue [Member]        
Revenues, net        
Total revenues, net $ 0 $ 96 $ 0 $ 227
Bitcoin Mining Revenue, Net [Member]        
Revenues, net        
Total revenues, net $ 104,108 $ 45,427 $ 289,693 $ 115,661