v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income $ 107,999 $ 152,644
Adjustments to reconcile net income to net cash used in operating activities:    
Bitcoin mining revenue, net (344,018) (185,585)
Gain on fair value of bitcoin (see Note 2 and Note 4) (90,539) (155,743)
Bitcoin issued for services 904 500
Impairment - other 0 396
Loss on derivative securities 1,119 2,192
Gain on bitcoin collateral (42,493) 0
Stock based compensation 6,122 19,750
Depreciation and amortization 145,130 62,034
Deferred income taxes, net 6,173 12,994
(Gain) loss on disposal of assets (3,021) 2,329
Other 1,418 174
Changes in operating assets and liabilities    
Decrease in operating lease liabilities (341) (93)
Decrease in accounts payable and accrued liabilities (8,354) (1,783)
Increase in prepaid expenses and other current assets (1,627) (1,924)
Increase in other long-term assets (10,207) 0
Net cash used in operating activities - Continuing Operations (231,735) (92,115)
Net cash used in operating activities of Discontinued Operations 0 (416)
Net cash used in operating activities (231,735) (92,531)
Cash Flows from Investing Activities    
Payments on miners and mining equipment (including deposits) (253,754) (208,850)
Purchase of fixed assets (91,451) (42,986)
Proceeds from sale of bitcoin 0 43,103
Proceeds from sale of miners 41,512 508
Acquisition of GRIID Infrastructure 1,411 0
Asset acquisition - Twin City, GA Location (5,490) 0
Asset acquisition - Tennessee Locations (8,105) 0
Asset acquisition - Mississippi Locations 0 (19,771)
Asset acquisition - Dalton, GA Location 0 (3,569)
Net cash used in investing activities - Continuing Operations (315,877) (231,565)
Net cash used in investing activities (315,877) (231,565)
Cash Flows from Financing Activities    
Purchase of treasury stock (145,000) 0
Payments for capped call (90,350) 0
Payments on loans (54,423) (3,467)
Payments of loan issuance costs (2,007) 0
Payments on preferred dividends (5,141) (579)
Payments on finance leases (42) (87)
Proceeds from loans payable, net of issuance fees 635,695 0
Payments of taxes on shares withheld for net settlement of restricted stock units (1,943) (17,139)
Proceeds from exercise of options and warrants 154 541
Proceeds from equity offerings, net 186,808 638,664
Net cash provided by financing activities - Continuing Operations 523,751 617,933
Net cash provided by financing activities 523,751 617,933
Net (decrease) increase in cash, cash equivalents and restricted cash (23,861) 293,837
Cash, cash equivalents and restricted cash, beginning of period 124,278 29,215
Cash and cash equivalents, and restricted cash, end of period 100,417 323,052
Supplemental disclosure of cash flow information    
Cash paid for interest 1,889 1,019
Non-cash investing and financing transactions    
Fixed asset and miner purchases accrued not paid 4,026 7,207
Fixed assets purchased through finance transactions 1,000 287
Software purchased with bitcoin 6,000 168
Preferred shares dividends accrued 0 2,842
Unrealized gain on investment in available-for-sale debt security 2,978 58
Bitcoin transferred to collateral account 8,860 0
Bitcoin received from collateral account 129,180 0
Shares issued in connection with GRIID Acquisition 60,677 0
Change in accounting principle 0 4,183
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 96,982 320,060
Restricted cash 3,435 2,992
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 100,417 $ 323,052