5. RECEIVABLE FROM BITCOIN COLLATERAL	6 Months Ended
Mar. 31, 2026
Receivables [Abstract]
RECEIVABLE FROM BITCOIN COLLATERAL	5. RECEIVABLE FROM BITCOIN COLLATERAL Under the terms of certain arrangements, the Company gives away the right to direct the use of bitcoin it has posted as collateral but retains the right to the economic benefits of those bitcoin. In such cases, where control of the collateralized bitcoin has been transferred, the Company records a note receivable equivalent to the fair value of the posted bitcoin. That receivable is reclassified into current bitcoin upon repayment or release of the collateral. For arrangements that involve transfer of control, any posted bitcoin collateral may relate to bitcoin-backed lines of credit (see Note 9 - Indebtedness) and derivative trading relationships with certain counterparties. Lenders and derivative counterparties serve as custodians of collateral posted under these arrangements. The bitcoin collateral posted may fluctuate during the reporting period and may be returned to our control when positions are closed. As of March 31, 2026, the Company had no bitcoin posted as collateral under its bitcoin-backed line of credit arrangements. The Company expects to continue trading with its counterparties in the normal course of operations and may be required to post collateral in connection with such transactions (see Note 6 - Investments and Derivatives). The portion of collateral subject to derecognition is presented on the Condensed Consolidated Balance Sheets as Receivable from bitcoin collateral. At March 31, 2026, the Company reported Receivable from bitcoin collateral related to 1,641 bitcoin with a fair value of $111,940, compared to 2,583 bitcoin with a fair value of $294,648 posted as of September 30, 2025. At March 31, 2026, all of the bitcoin included in Receivable from bitcoin collateral was a result of bitcoin posted to derivative trading counterparties. The receivable is initially recognized and subsequently measured at fair value. Changes in fair value are recorded in (Loss) gain on bitcoin collateral within Other (expense) income in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. For the three and six months ended March 31, 2026, the Company recognized a loss of $38,838 and $142,458 related to bitcoin collateral, respectively. The Company recognized $0 of gains or losses for the three months ended March 31, 2025, but recognized a gain of $42,493 for the six months ended March 31, 2025.

5. RECEIVABLE FROM BITCOIN COLLATERAL

6 Months Ended

Mar. 31, 2026

5. RECEIVABLE FROM BITCOIN COLLATERAL

Under the terms of certain arrangements, the Company gives away the right to direct the use of bitcoin it has posted as collateral but retains the right to the economic benefits of those bitcoin. In such cases, where control of the collateralized bitcoin has been transferred, the Company records a note receivable equivalent to the fair value of the posted bitcoin. That receivable is reclassified into current bitcoin upon repayment or release of the collateral.

For arrangements that involve transfer of control, any posted bitcoin collateral may relate to bitcoin-backed lines of credit (see Note 9 - Indebtedness) and derivative trading relationships with certain counterparties. Lenders and derivative counterparties serve as custodians of collateral posted under these arrangements. The bitcoin collateral posted may fluctuate during the reporting period and may be returned to our control when positions are closed. As of March 31, 2026, the Company had no bitcoin posted as collateral under its bitcoin-backed line of credit arrangements. The Company expects to continue trading with its counterparties in the normal course of operations and may be required to post collateral in connection with such transactions (see Note 6 - Investments and Derivatives).

The portion of collateral subject to derecognition is presented on the Condensed Consolidated Balance Sheets as Receivable from bitcoin collateral. At March 31, 2026, the Company reported Receivable from bitcoin collateral related to 1,641 bitcoin with a fair value of $111,940, compared to 2,583 bitcoin with a fair value of $294,648 posted as of September 30, 2025. At March 31, 2026, all of the bitcoin included in Receivable from bitcoin collateral was a result of bitcoin posted to derivative trading counterparties.

The receivable is initially recognized and subsequently measured at fair value. Changes in fair value are recorded in (Loss) gain on bitcoin collateral within Other (expense) income in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. For the three and six months ended March 31, 2026, the Company recognized a loss of $38,838 and $142,458 related to bitcoin collateral, respectively. The Company recognized $0 of gains or losses for the three months ended March 31, 2025, but recognized a gain of $42,493 for the six months ended March 31, 2025.