15. LOAN

3 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

LOAN

15.LOANS

As of December 31, 2022, the Company had a gross balance outstanding of $19,786, netted against discount on the loans payable of $183. Total principal payments on loans during the three months ended December 31, 2022 was $8,430.

The following is a schedule of the Company's future loan payments and loan balance, net of debt discount, as of December 31, 2022:

($ in thousands)	Maturity Date	Rate	Debt Balance, Net
Master Equipment Financing Arrangement	Apr-25	13.80%	$	15,876
SPRE Commercial Group, Inc.	Aug-23	12.00%		1,332
Marquee Funding Partners	Jul-26 - Feb-27	13.00%		2,031
Auto & Equipment Loans	Oct-28	0.99-9.20%		364
Total Loans Outstanding			$	19,603
Less: current portion of long-term loans				(7,504	)
Long-term loans, excluding current portion			$	12,099

($ in thousands)	5-Year Loan Maturities
Outstanding Loan	FY 2023		FY 2024		FY 2025		FY 2026		FY 2027		Thereafter		Total
Master Equipment Financing Arrangement	$	4,329	$	6,508	$	5,222	$	—	$	—	$	—	$	16,059
SPRE Commercial Group, Inc.		1,332		—		—		—		—		—		1,332
Marquee Funding Partners		306		458		521		593		153		—		2,031
Auto & Equipment Loans		44		67		70		74		59		50		364
Total principal amount of loan payments by fiscal year	$	6,011	$	7,033	$	5,813	$	667	$	212	$	50	$	19,786
Unamortized deferred financing costs and discounts on Master Equipment Financing Arrangement														(183	)
Total loan book value as of December 31, 2022													$	19,603

Master Equipment Financing Agreement

On April 22, 2022, the Company entered into a Master Equipment Financing Agreement with Trinity Capital Inc., as the Lender (the “Financing Agreement”). The Financing Agreement provided for up to $35 million of borrowings to finance the Company’s acquisition of blockchain computing equipment. The Company received a loan of $20 million

at closing, with the remaining $15 million fundable upon the Company's request, if requested no later than December 31, 2022, subject to certain customary conditions. The Company did not request the funding and agreed with the Lender that the related 1% loan commitment fee for the unused portion would be refunded to the Company, which was received in December 2022. The borrowings under the Financing Agreement are collateralized by 3,336 S19j Pro miners, which are located at our Godby, GA and Norcross, GA sites.

SPRE Commercial Group, Inc.

In connection with the acquisition of WAHA, the Company entered into a financing arrangement with the seller. The loan has a term of 12 months with monthly payments of $174 and a stated interest rate of 12%.

Marquee Funding Partners

In connection with the acquisition of WAHA, certain assets were encumbered with mortgages which the Company assumed. The mortgages assumed have a current unpaid principal balance of $2,031 and remaining payment terms ranging from 47-54 months and annual interest of 13%.

Auto Loans

The Company has entered into various financing arrangements to purchase vehicles and non-miner equipment with combined principal amount of $364. The loans vary in terms from 48-72 months with annual interest rates ranging from 0.99% - 9.20%. The loans are secured with the purchased vehicles and equipment. During the three months ended December 31, 2022, the Company entered into two separate agreements for the purchase of equipment with a combined principal of $164, with terms ranging from 48-60 months and interest rates ranging from 0.99%-2.90%.