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CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net (loss) income $ (47,491) $ 14,315
Less: (Income) loss from discontinued Operations (1,163) 3,361
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Unrealized loss on equity security 0 2
Realized gain on sale of equity security 0 (1)
Impairment of bitcoin 277 7,034
Realized (gain) on sale of bitcoin (905) (7,261)
Bitcoin issued for services 310 295
Unrealized loss on derivative asset 1,215 1,111
Gain on fair value of contingent consideration (485) (346)
Non-cash lease expenses 159 56
Stock based compensation 11,621 12,303
Depreciation and amortization 40,675 17,879
Provision for bad debts 106 0
Amortization of debt discount 19 0
Loss (gain) on write-off and disposal of assets 3 (643)
Income from in-kind receipts of miners 0 (308)
Changes in operating assets and liabilities    
Mining of bitcoin (70,234) (73,940)
Proceeds from sale of bitcoin 76,203 80,430
(Decrease) in operating lease liabilities (20) (51)
Increase in accounts payable and accrued liabilities 5,203 5,771
(Increase) in prepaid expenses and other current assets (772) (9,572)
(Increase) in accounts receivable (125) (1,282)
(Increase) decrease in Inventory (529) 47
Long -term deposits paid (2,940) 0
Net cash provided by operating activities from Continuing Operations 11,127 49,200
Net cash provided by (used in) operating activities of Discontinued Operations 749 (2,318)
Net cash provided by operating activities 11,876 46,882
Cash Flows from Investing Activities    
Payments on miners (including deposits) (69,238) (105,077)
Purchase of fixed assets (21,769) (28,915)
Settlement of holdbacks related to contingent consideration 0 (625)
Proceeds from sale of miners 0 3,498
Proceeds from sale of equity securities 0 9
Acquisition of Mawson (22,518) 0
Net Cash used in Investing Activities - Continuing Operations (113,525) (131,110)
Net cash provided by investing activities - Discontinued Operations 2,462 0
Net cash used in investing activities (111,063) (131,110)
Cash Flows from Financing Activities    
Payments on loans (10,433) 0
Payments on finance leases (154) (368)
Refund of loan commitment fee 150 0
Proceeds from exercise of options and warrants 0 480
Proceeds from equity offerings, net 99,506 67,989
Net cash provided by financing activities - Continued Operations 89,069 68,101
Net cash provided by financing activities - Discontinued Operations 0 0
Net cash provided by financing activities 89,069 68,101
Net decrease in cash and cash equivalents (10,118) (16,127)
Cash and cash equivalents, beginning of period 20,463 18,040
Cash and cash equivalents, end of period 10,345 1,913
Supplemental disclosure of cash flow information    
Cash paid for interest 1,669 62
Cash paid for tax 0 0
Non-cash investing and financing transactions    
Receivables from exercise of options 0 253
Fixed assets purchased through finance transactions 164 0
Software purchased with bitcoin 229 0
Shares withheld for net settlement of restricted stock units related to tax withholdings (1,468) 0
Shares issued for settlement of seller agreements related to acquisition 0 150
Preferred share dividends accrued 0 335
Unrealized gain on investment in available-for-sale debt security 58 46
Shares issued for settlement of contingent consideration related to business acquisition, value 2,840 0
Shares withheld for net settlement of restricted stock units related to tax withholdings $ 1,468 $ 0