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7. PROPERTY AND EQUIPMENT | 3 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | 7. PROPERTY AND EQUIPMENT Property and equipment consist of the following:
($ in thousands) |  | December 31, 2024 |  |  | September 30, 2024 |
Land |  | $ | 39,034 |  |  | $ | 32,190 |
Land improvements |  |  | 6,110 |  |  |  | 5,449 |
Building and improvements |  |  | 78,919 |  |  |  | 76,719 |
Leasehold improvements |  |  | 1,995 |  |  |  | 1,995 |
Miners |  |  | 1,371,015 |  |  |  | 1,035,128 |
Mining equipment |  |  | 23,169 |  |  |  | 23,066 |
Infrastructure |  |  | 201,117 |  |  |  | 155,191 |
Machinery and equipment |  |  | 16,310 |  |  |  | 15,061 |
Furniture and fixtures |  |  | 2,014 |  |  |  | 1,706 |
Construction in progress |  |  | 52,467 |  |  |  | 19,455 |
Total |  | $ | 1,792,150 |  |  | $ | 1,365,960 |
Less: accumulated depreciation |  |  | (536,150 | ) |  |  | (496,267 | )
Property and equipment, net |  | $ | 1,256,000 |  |  | $ | 869,693 |
Total depreciation expense for the three months ended December 31, 2024 and 2023 was $65,125 and $29,333, respectively. The Company had additions to property and equipment of $417,182 during the three months ended December 31, 2024, which included $362,281 in miners acquired, which is the primary cause in the increase of fixed assets. Assets acquired through acquisition transactions (see Note 3 - Acquisitions) resulted in an additional $32,395 in total assets placed in service. Construction in progress: The Company is expanding its mining facilities, including infrastructure, building, and land improvements to grow its mining operations. As of December 31, 2024 and September 30, 2024, the Company had outstanding deposits for miners and mining equipment totaling $126,867 and $359,862, respectively. Such deposits are recorded as long-term assets on the condensed consolidated balance sheets.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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