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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues, net        
Bitcoin mining revenue, net $ 45,427 $ 30,942 $ 115,661 $ 104,882
Other services revenue 96 87 227 470
Total revenues, net 45,523 31,029 115,888 105,352
Costs and expenses        
Cost of revenues (exclusive of depreciation and amortization shown below) 20,681 10,288 63,179 24,608
Professional fees 2,225 1,428 8,806 5,589
Payroll expenses 10,405 8,076 29,957 24,210
General and administrative expenses 5,064 2,119 13,117 6,708
Loss (gain) on disposal of assets 0 0 3 (643)
Other impairment expense (related to bitcoin) 740 4,418 1,017 11,452
Realized (gain) loss on sale of bitcoin 143 5,235 (762) (2,026)
Depreciation and amortization 21,850 14,781 62,525 32,660
Total costs and expenses 61,108 46,345 177,842 102,558
(Loss) Income from operations (15,585) (15,316) (61,954) 2,794
Other income (expense)        
Other Income 0 0 11 308
Change in fair value of contingent consideration 2,000 0 2,485 346
Realized gain on sale of equity security 0 0 0 1
Unrealized loss on equity security 0 0 0 (2)
Unrealized (loss) gain on derivative security 105 (1,033) (1,110) (2,144)
Interest income 52 52 174 137
Interest expense (689) (314) (2,377) (375)
Total other (expense) income 1,468 (1,295) (817) (1,729)
(Loss) Income before income tax (expense) or benefit (14,117) (16,611) (62,771) 1,065
Income tax expense 0 0 0 0
(Loss) income from continuing operations (14,117) (16,611) (62,771) 1,065
Income (loss) from discontinued operations (102) (12,729) 1,061 (16,090)
Income tax (expense) or benefit 0 0 0 0
Income (loss) on discontinued operations (102) (12,729) 1,061 (16,090)
Net loss (14,219) (29,340) (61,710) (15,025)
Preferred stock dividends 0 0 0 335
Net (loss) income attributable to common shareholders (14,219) (29,340) (61,710) (15,360)
Other Comprehensive Income 28 29 86 75
Total comprehensive (loss) income attributable to common shareholders $ (14,191) $ (29,311) $ (61,624) $ (15,285)
(Loss) income from continuing operations per common share - basic $ (0.12) $ (0.4) $ (0.72) $ 0.02
Weighted average common shares outstanding- basic 114,844,402 41,277,090 87,248,719 41,010,826
(Loss) income from continuing operations per common share - diluted $ (0.12) $ (0.4) $ (0.72) $ 0.02
Weighted average common shares outstanding - diluted 114,844,402 41,277,090 87,638,134 41,092,028
(Loss) income on discontinued operations per common share - basic $ (0) $ (0.31) $ 0.01 $ (0.39)
Weighted average common shares outstanding - basic 114,844,402 41,277,090 87,248,719 41,010,826
(Loss) income on discontinued operations per common share - diluted $ (0) $ (0.31) $ 0.01 $ (0.39)
Weighted average common shares outstanding - diluted 114,844,402 41,277,090 87,638,134 41,092,028