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3. ACQUISITIONS (Tables) | 3 Months Ended
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Dec. 31, 2024
GRIID Infrastructure Inc [Member] |
Business Acquisition [Line Items] |
Schedule of Purchase Price Allocation | the GRIID Acquisition for a total preliminary purchase consideration of $128,247, which is comprised of the following:
($ in thousands, except price per share) |  | GRIID |
Shares of CleanSpark common stock issued |  |  | 5,031 |
Closing price per share of CleanSpark common stock on October 30, 2024 |  | $ | 12.06 |
Fair value of CleanSpark common share issued as a portion of purchase price |  | $ | 60,677 |
Fair value of CleanSpark warrants issued as a portion of purchase price |  |  | 6,097 |
Fair value of equity portion of purchase price |  |  | 66,774 |
Cash consideration |  |  | 1 |
Settlement of amounts payable by Company to GRIID under Hosting Agreement |  |  | (1,164 | )
Settlement of the GRIID Credit Agreement as a portion of purchase price |  |  | 62,636 |
Settlement of preexisting relationship, including interest, as a portion of purchase price |  |  | 61,472 |
Preliminary purchase price |  | $ | 128,247 |
The preliminary net assets acquired as of the acquisition date are presented as follows:
($ in thousands) |  | Allocation as of October 30, 2024 |
Tangible assets |  |  |
Cash and cash equivalents |  | $ | 1,089 |
Restricted cash |  |  | 323 |
Accounts receivable |  |  | 172 |
Prepaid expense and other current assets |  |  | 193 |
Property and equipment |  |  | 18,493 |
Other long-term assets |  |  | 5,593 |
Operating lease right of use assets |  |  | 1,100 |
Total tangible assets acquired |  |  | 26,963 |
Intangible assets |  |  |
Goodwill |  |  | 127,208 |
Total assets acquired |  |  | 154,171 |
Liabilities assumed |  |  |
Accounts payable |  |  | 1,753 |
Accrued liabilities |  |  | 18,789 |
Finance lease obligations |  |  | 2 |
Operating lease liabilities |  |  | 2,458 |
Other liabilities |  |  | 2,922 |
Total liabilities assumed |  |  | 25,924 |
Net assets acquired |  | $ | 128,247 |
The following unaudited pro forma information for the three month periods ended December 31, 2024 and December 31, 2023 combines the historical results of CleanSpark and GRIID, as converted to U.S. GAAP, for the respective periods:
|  | Three Months Ended |
|  | December 31, 2024 |  |  | December 31, 2023 |
Pro forma revenue |  | $ | 162,306 |  |  | $ | 79,340 |
Pro forma net income from continuing operations |  |  | 237,264 |  |  |  | 43,469 |
Tennessee Acquisition [Member] |
Business Acquisition [Line Items] |
Schedule of Purchase Price Allocation | The allocation of the purchase price of the assets acquired are summarized below:
($ in thousands) |  | Allocation at Final Acquisition Date |
Land |  | $ | 6,187 |
Land improvements |  |  | 648 |
Building |  |  | 805 |
Infrastructure |  |  | 22,153 |
Right of use assets |  |  | 61 |
Operating lease liability |  |  | (372 | )
Total |  | $ | 29,482 |
Mississippi Acquisition [Member] |
Business Acquisition [Line Items] |
Schedule of Purchase Price Allocation | The allocation of the purchase price of the assets acquired are summarized below:
($ in thousands) |  | Allocation at Acquisition Date |
Land |  | $ | 734 |
Construction in progress |  |  | 2,286 |
Total |  | $ | 3,020 |

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