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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Earnings Per Share Basic and Diluted | Provided below is the income per share calculation for the three months ended December 31, 2024 and 2023:
|  | For the Three Months Ended December 31, |
($ in thousands, except share and per share amounts) |  | 2024 |  |  | 2023 |
Numerator |  |  |  |  |  |
Net income attributable to common shareholders - Basic |  | $ | 241,650 |  |  | $ | 25,330 |
Non-cash interest expense on convertible notes |  |  | 119 |  |  |  | — |
Net income attributable to common shareholders - Dilutive |  |  | 241,769 |  |  |  | 25,330 |
Denominator |  |  |  |  |  |
Weighted-average common shares outstanding - Basic |  |  | 284,549,900 |  |  |  | 178,809,264 |
Dilutive impact of stock options and other share-based awards |  |  | 652,120 |  |  |  | 1,974,271 |
Dilutive impact of convertible notes |  |  | 6,685,121 |  |  |  | — |
Weighted-average common shares outstanding - Dilutive |  |  | 291,887,141 |  |  |  | 180,783,535 |
(Loss) income per common share attributable to common shareholders |  |  |  |  |  |
Basic |  | $ | 0.85 |  |  | $ | 0.14 |
Diluted |  | $ | 0.83 |  |  | $ | 0.14 |
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 December 31, 2024 and September 30, 2024:
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash equivalents(1) |  | $ | 275,894 |  |  | $ | 275,894 |  |  | $ | — |  |  | $ | — |
Bitcoin |  |  | 929,080 |  |  |  | 929,080 |  |  |  | — |  |  |  | — |
ILAL derivative asset |  |  | 4,445 |  |  |  | — |  |  |  | — |  |  |  | 4,445 |
Investment in debt security |  |  | 950 |  |  |  | — |  |  |  | — |  |  |  | 950 |
Interest rate swap derivative |  |  | 51 |  |  |  | — |  |  |  | 51 |  |  |  | — |
Warrant liabilities |  |  | 1,441 |  |  |  | — |  |  |  | 1,441 |  |  |  | — |
Total |  | $ | 1,211,861 |  |  | $ | 1,204,974 |  |  | $ | 1,492 |  |  | $ | 5,395 |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash equivalents(1) |  | $ | 120,638 |  |  | $ | 120,638 |  |  | $ | — |  |  | $ | — |
Receivable from bitcoin collateral(2) |  |  | 77,827 |  |  |  | — |  |  |  | 77,827 |  |  |  | — |
Bitcoin |  |  | 431,661 |  |  |  | 431,661 |  |  |  | — |  |  |  | — |
ILAL derivative asset |  |  | 1,832 |  |  |  | — |  |  |  | — |  |  |  | 1,832 |
Investment in debt security |  |  | 918 |  |  |  | — |  |  |  | — |  |  |  | 918 |
Interest rate swap derivative |  |  | (100 | ) |  |  | — |  |  |  | (100 | ) |  |  | — |
Total |  | $ | 632,776 |  |  | $ | 552,299 |  |  | $ | 77,727 |  |  | $ | 2,750 |
(1) Represents money market funds. (2) See Note 9 - Loans for more information.

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