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CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net Income (Loss) $ 152,644 $ (47,491)
Less: Income from discontinued operations 0 (1,163)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Impairment of bitcoin 0 277
Mining of bitcoin (185,585) (70,234)
Gain on fair value of bitcoin, net (see Note 2) (155,743) 0
Proceeds from sale of bitcoin 0 76,203
Realized gain on sale of bitcoin 0 (905)
Bitcoin issued for services 500 310
Impairment other 396 0
Unrealized loss on derivative asset 2,192 1,215
Gain on fair value of contingent consideration 0 (485)
Non-cash lease expenses 64 159
Stock based compensation 19,750 11,621
Depreciation and amortization 62,034 40,675
Provision for bad debts 57 106
Amortization of debt discount 53 19
Loss on disposal of assets 2,329 3
Changes in operating assets and liabilities    
Decrease in operating lease liabilities (93) (20)
(Decrease) increase in accounts payable and accrued liabilities (1,783) 5,203
Decrease (increase) in prepaid expenses and other current assets 7,843 (772)
Decrease (increase) in accounts receivables 5 (125)
Increase in inventory (182) (529)
Increase in deferred income taxes 12,994 0
Long -term deposits paid 0 (2,940)
Net cash (used in) provided by operating activities from Continuing Operations (82,525) 11,127
Net cash provided by (used in) operating activities of Discontinued Operations (416) 749
Net cash (used in) provided by operating activities (82,941) 11,876
Cash Flows from Investing Activities    
Payments on miners (including deposits) (208,850) (69,238)
Purchase of fixed assets (42,986) (21,769)
Proceeds from sale of bitcoin 43,103 0
Acquisition of Mississippi Locations (19,771) 0
Acquisition of Dalton, GA Location (3,569) 0
Proceeds from sale of miners 508 0
Acquisition of Mawson 0 (22,518)
Net cash used in investing activities - Continuing Operations (231,565) (113,525)
Net cash provided by investing activities - Discontinued Operations 0 2,462
Net cash used in investing activities (231,565) (111,063)
Cash Flows from Financing Activities    
Payments on loans (3,467) (10,433)
Payments on preferred dividends (579) 0
Payments on finance leases (87) (154)
Refund of loan commitment fee 0 150
Payments of taxes on shares withheld for net settlement of restricted stock units (17,139) 0
Proceeds from exercise of options and warrants 541 0
Proceeds from equity offerings, net 629,074 99,506
Net cash provided by financing activities - Continued Operations 608,343 89,069
Net cash provided by financing activities - Discontinued Operations 0 0
Net cash provided by financing activities 608,343 89,069
Net increase (decrease) in cash and cash equivalents 293,837 (10,118)
Cash and cash equivalents, beginning of period 29,215 20,463
Cash and cash equivalents, and restricted cash, end of period 323,052 10,345
Supplemental disclosure of cash flow information    
Cash paid for interest 1,019 1,669
Non-cash investing and financing transactions    
Shares issued for settlement of contingent consideration related to business acquisition 0 2,840
Change in Accounting Principle - (see Note 2) 4,183 0
Fixed asset and miner purchases accrued not paid 7,207 0
Shares withheld for net settlement of restricted stock units related to tax withholdings 0 1,468
Fixed assets purchased through finance transactions 287 164
Software purchased with bitcoin 168 229
Preferred share dividends accrued 2,842 0
Unrealized gain on investment in available-for-sale debt security $ 58 $ 58