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5. BITCOIN

3 Months Ended

Dec. 31, 2023

The following table presents the Company's bitcoin holdings as of December 31, 2023 and September 30, 2023:


	As of
Bitcoin holdings	December 31, 2023		September 30, 2023 (unaudited)
Number of bitcoin held		3,002		2,243
Carrying basis - per bitcoin	$	34,311	$	25,074
Fair value - per bitcoin	$	42,290	$	26,961
Carrying basis of bitcoin (in '000s)	$	102,997	$	56,241
Fair value of bitcoin (in '000s)	$	126,951	$	60,424

The carrying basis represents the valuation of bitcoin at the time the Company earns the bitcoin through mining activities.

The Carrying amount for 2,243 bitcoin held as of the adoption of ASC 350-60, was determined on the "cost less impairment" basis.

The Company's bitcoin holdings are not subject to rehypothecation and do not serve as collateral for any existing loans or agreements. As of December 31, 2023, the Company held no other crypto currency (except for a de minimis amount of USD Coin).

As of December 31, 2023, the Company held 97% of its bitcoin in cold storage and 3% in hot wallets and as of September 30, 2023 held 95% of its bitcoin in cold storage and 5% in hot wallets.