2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Accounts Receivable

Accounts receivable, net consists of the following:

($ in thousands)	December 31, 2022			September 30, 2022
Accounts Receivable, gross	$	250		$	247
Provision for doubtful allowances		(220	)		(220	)
Total Accounts Receivable, net	$	30		$	27

Schedule of Earnings Per Share Basic and Diluted

Provided below is the income (loss) per share calculation for the three months ended December 31, 2022 and 2021:

	For the Three Months Ended December 31,
($ in thousands, except share and per share)	2022			2021
Continuing Operations
Numerator
(Loss) income from continuing operations	$	(30,488	)	$	15,644
Preferred stock dividends		—			315
(Loss) income from continuing operations attributable to common shareholders	$	(30,488	)	$	15,330
Denominator
Weighted- average common shares outstanding,    basic		66,395,174			40,279,938
Dilutive impact of stock options and other share-based awards		—			205,823
Weighted- average common shares outstanding,    diluted		66,395,174			40,485,761
(Loss) income from continuing operations per common share attributable to common shareholders
Basic	$	(0.46	)	$	0.38
Diluted	$	(0.46	)	$	0.38
Discontinued Operations
Numerator
Income (loss) on discontinued operations	$	1,457		$	(1,158	)
Denominator
Weighted- average common shares outstanding,    basic		66,395,174			40,279,938
Dilutive impact of stock options and other share-based awards		1,005,160			—
Weighted- average common shares outstanding,    diluted		67,400,334			40,279,938
Income (loss) on discontinued operations per common share attributable to common shareholders
Basic	$	0.02		$	(0.03	)
Diluted	$	0.02		$	(0.03	)

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

Schedule of Activities of Digital Currencies

The following table presents the activities of the bitcoin for the three months ended December 31, 2022:

($ in thousands)	Amount
Balance as on September 30, 2022	$	11,147
Addition of bitcoin		27,746
Sale of bitcoin		(34,067	)
Bitcoin issued for services		(134	)
Bitcoin issued for software		(229	)
Realized loss on sale of bitcoin		(517	)
Impairment loss		(83	)
Balance as on December 31, 2022	$	3,863

The Company's bitcoin holdings are not subject to rehypothecation and do not serve as collateral for any existing loans or agreements.

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, 2022 and September 30, 2022:

December 31, 2022
($ in thousands)	Amount		Level 1		Level 2		Level 3
Derivative asset	$	1,685	$	—	$	—	$	1,685
Investment in debt security		639		—		—		639
Contingent consideration		4,840		4,840		—		—
Total	$	7,164	$	4,840	$	—	$	2,324

September 30, 2022
($ in thousands)	Amount		Level 1		Level 2		Level 3
Derivative asset	$	2,956	$	—	$	—	$	2,956
Investment in debt security		610		—		—		610
Total	$	3,566	$	—	$	—	$	3,566