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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Jun. 30, 2025
Accounting Policies [Abstract] |
Schedule of Earnings Per Share Basic and Diluted | Provided below is the income per share calculation for the three and nine months ended June 30, 2025 and 2024:
|  | For the Three Months Ended June 30, |  |  | For the Nine Months Ended June 30, |
($ in thousands, except share and per share amounts) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Continuing Operations |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders - Basic |  | $ | 251,787 |  |  | $ | (236,242 | ) |  | $ | 354,645 |  |  | $ | (87,019 | )
Non-cash interest expense on convertible notes |  |  | 693 |  |  |  | — |  |  |  | 1,506 |  |  |  | — |
Net income (loss) attributable to common shareholders - Dilutive |  |  | 252,480 |  |  |  | (236,242 | ) |  |  | 356,151 |  |  |  | (87,019 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding - Basic |  |  | 280,997,649 |  |  |  | 228,642,939 |  |  |  | 282,147,349 |  |  |  | 205,482,062 |
Dilutive impact of stock options and other share-based awards |  |  | 666,010 |  |  |  | — |  |  |  | 625,839 |  |  |  | — |
Dilutive impact of convertible notes |  |  | 43,930,792 |  |  |  | — |  |  |  | 31,379,137 |  |  |  | — |
Weighted-average common shares outstanding - Dilutive |  |  | 325,594,451 |  |  |  | 228,642,939 |  |  |  | 314,152,325 |  |  |  | 205,482,062 |
Income (loss) per common share attributable to common shareholders |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.90 |  |  | $ | (1.03 | ) |  | $ | 1.26 |  |  | $ | (0.42 | )
Diluted |  | $ | 0.78 |  |  | $ | (1.03 | ) |  | $ | 1.13 |  |  | $ | (0.42 | )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The securities excluded from the computation of diluted earnings per share because to do so would have been anti-dilutive are as follows:
|  | For the Three Months Ended June 30, |  |  | For the Nine Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Series A preferred stock conversion |  |  | 5,250,000 |  |  |  | 5,250,000 |  |  |  | 5,250,000 |  |  |  | 5,250,000 |
Anti-dilutive stock options |  |  | 1,806,985 |  |  |  | 2,280,893 |  |  |  | 1,586,999 |  |  |  | 2,280,893 |
Anti-dilutive restricted stock awards |  |  | 142,694 |  |  |  | 1,862,496 |  |  |  | 142,694 |  |  |  | 1,862,496 |
Anti-dilutive warrants |  |  | 1,586,999 |  |  |  | 17,560 |  |  |  | 1,586,999 |  |  |  | 17,560 |
Total anti-dilutive securities |  |  | 8,786,678 |  |  |  | 9,410,949 |  |  |  | 8,566,692 |  |  |  | 9,410,949 |
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 June 30, 2025 and September 30, 2024:
June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents(1) |  | $ | 27,375 |  |  | $ | 27,375 |  |  | $ | — |  |  | $ | — |
Receivable from bitcoin collateral(2) |  |  | 271,491 |  |  |  | — |  |  |  | 271,491 |  |  |  | — |
Bitcoin |  |  | 1,079,754 |  |  |  | 1,079,754 |  |  |  | — |  |  |  | — |
Bitcoin derivative - Bitmain contracts |  |  | 7,717 |  |  |  | — |  |  |  | — |  |  |  | 7,717 |
ILAL derivative asset |  |  | 126 |  |  |  | — |  |  |  | — |  |  |  | 126 |
Investment in debt security |  |  | 4,405 |  |  |  | — |  |  |  | — |  |  |  | 4,405 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap derivative |  |  | 86 |  |  |  | — |  |  |  | 86 |  |  |  | — |
Warrant liabilities |  |  | 150 |  |  |  | — |  |  |  | 150 |  |  |  | — |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents(1) |  | $ | 120,639 |  |  | $ | 120,639 |  |  | $ | — |  |  | $ | — |
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 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap derivative |  |  | 100 |  |  |  | — |  |  |  | 100 |  |  |  | — |
(1) Represents money market funds. (2) See Note 4 - Bitcoin for more information.

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