2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table sets forth a reconciliation of cash, cash equivalents, and restricted cash reported in the consolidated balance sheets that agrees to the total of those amounts as presented in the consolidated statements of cash flows.

	September 30, 2022		September 30, 2021
Cash and cash equivalents, excluding restricted cash	$	20,462,570	$	14,571,198
Restricted cash - construction escrow account		—		3,469,129
Cash and cash equivalents, including restricted cash	$	20,462,570	$	18,040,327

Schedule of Accounts receivable

Accounts receivable, net consists of the following:

	September 30, 2022			September 30, 2021
Accounts Receivable, gross	$	246,839		$	307,067
Provision for doubtful allowances		(219,810	)		—
Total Accounts Receivable, net	$	27,029		$	307,067

Schedule of earnings per share basic and diluted

Provided below is the loss per share calculation for the years ended September 30, 2022 and 2021:

	For the Year Ended September 30,
	2022			2021
Continuing Operations
Numerator
Income (loss) from continuing operations	$	(40,089,393	)	$	(8,229,162	)
Preferred stock dividends		335,439			177,502
Income (loss) from continuing operations attributable to common shareholders	$	(40,424,832	)	$	(8,406,664	)
Denominator
Weighted- average common shares outstanding,    basic		42,614,197			29,441,364
Dilutive impact of stock options and other share-based awards		—			—
Weighted- average common shares outstanding,    diluted		42,614,197			29,441,364
Income (loss) from continuing operations per common share attributable to common shareholders
Basic	$	(0.95	)	$	(0.29	)
Diluted	$	(0.95	)	$	(0.29	)
Discontinued Operations
Numerator
Loss on discontinued operations	$	(17,236,961	)	$	(13,582,848	)
Denominator
Weighted- average common shares outstanding,    basic		42,614,197			29,441,364
Dilutive impact of stock options and other share-based awards		—			—
Weighted- average common shares outstanding,    diluted		42,614,197			29,441,364
Loss on discontinued operations per common share attributable to common shareholders
Basic	$	(0.40	)	$	(0.46	)
Diluted	$	(0.40	)	$	(0.46	)

Schedule of estimated useful life of asset

Depreciation is calculated on a straight-line basis over the estimated useful life of the asset as follows:

	Useful life (years)
Land Improvements	15
Building	30
Leasehold improvements	Shorter of lease term or 15 years
Miners	3-5
Mining Equipment	3-15
Infrastructure asset	Shorter of lease term or 5 years
Machinery and equipment	1-10
Furniture and fixtures	3-7

Summary of Impairment Loss

During the years ended September 30, 2022 and 2021, the Company incurred the following impairment losses:

	September 30, 2022		September 30, 2021
Impairment of bitcoin	$	12,210,269	$	6,608,076
Impairment of goodwill		12,048,419		—
Total impairment loss	$	24,258,688	$	6,608,076

Summary of Segment Wise Goodwill Activity

The following table reflects goodwill activity for the years ended September 30, 2022 and 2021, respectively:

	Total
Goodwill- September 30, 2020	$	—
New Acquisitions		12,048,419
Impairment		—
Goodwill- September 30, 2021		12,048,419
New Acquisitions		—
Impairment		(12,048,419	)
Goodwill- September 30, 2022	$	—

Summary of finite lived intangible assets useful lives

The Company amortizes intangible assets with finite lives over their estimated useful lives, which range between two and twenty years as follows:

	Useful life (years)
Websites	3
Software	4-7
Strategic contract	5

Schedule of Activities of Digital Currencies

The following table presents the activities of the bitcoin for the years ended September 30, 2022 and 2021:

	Amount
Balance as on September 30, 2020	$	—
Addition of bitcoin		38,846,633
Sale of bitcoin		(11,443,132	)
Bitcoin issued for services		(296,593	)
Realized gain on sale of bitcoin		3,104,378
Impairment loss		(6,608,076	)
Balance as on September 30, 2021	$	23,603,210
Addition of bitcoin		130,999,686
Sale of bitcoin		(133,201,006	)
Bitcoin issued for services		(611,244	)
Realized gain on sale of bitcoin		2,567,101
Impairment loss		(12,210,269	)
Balance as on September 30, 2022	$	11,147,478

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 consolidated balance sheets on a recurring basis, and their level within the fair value hierarchy as of September 30, 2022 and September 30, 2021:

September 30, 2022:

	Amount		Level 1		Level 2		Level 3
Derivative asset	$	2,955,890	$	—	$	—	$	2,955,890
Investment in debt security		610,108		—		—		610,108
Total	$	3,565,998	$	—	$	—	$	3,565,998

September 30, 2021:

	Amount		Level 1		Level 2		Level 3
Derivative asset	$	4,905,660	$	—	$	—	$	4,905,660
Investment in equity security		10,772		10,772		—		—
Investment in debt security		494,608		—		—		494,608
Contingent cash consideration		820,802		—		—		820,802
Total	$	6,231,842	$	10,772	$	—	$	6,221,070