CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Revenues, net | ||||
| Bitcoin mining revenue, net | $ 136,408 | $ 181,712 | $ 317,588 | $ 344,018 |
| Costs and expenses | ||||
| Cost of revenues (exclusive of depreciation and amortization) | 81,691 | 85,424 | 177,312 | 155,714 |
| Professional fees | 9,652 | 2,983 | 15,058 | 6,868 |
| Payroll expenses | 24,922 | 15,255 | 48,707 | 36,124 |
| General and administrative expenses | 16,105 | 11,736 | 31,547 | 21,790 |
| Loss (gain) on disposal of assets | 3,990 | (2,230) | 3,767 | (3,021) |
| Loss (gain) on fair value of bitcoin, net | 224,107 | 127,667 | 470,939 | (90,539) |
| Depreciation and amortization | 115,881 | 78,901 | 222,192 | 145,130 |
| Indirect tax contingency expenses | 1,731 | 4,893 | 0 | |
| Impairment expense - fixed assets | 0 | 0 | 1,398 | 0 |
| Impairment expense - other | 4,008 | 0 | 4,008 | 0 |
| Total costs and expenses | 482,087 | 319,736 | 979,821 | 272,066 |
| (Loss) income from operations | (345,679) | (138,024) | (662,233) | 71,952 |
| Other (expense) income | ||||
| (Loss) gain on bitcoin collateral | (38,838) | 0 | (142,458) | 42,493 |
| (Loss) gain on derivative securities, net | (4,840) | (4,741) | 6,955 | (1,119) |
| Interest income | 3,072 | 2,014 | 5,257 | 3,490 |
| Interest expense | (2,054) | (1,267) | (5,750) | (2,826) |
| Other income (expense) | 105 | 183 | (131) | 183 |
| Total other (expense) income | (42,555) | (3,811) | (136,127) | 42,221 |
| (Loss) income before income tax (benefit) expense | (388,234) | (141,835) | (798,360) | 114,173 |
| Income tax (benefit) expense | (9,891) | (3,043) | (41,306) | 6,174 |
| (Loss) income from operations | (378,343) | (138,792) | (757,054) | 107,999 |
| Net (loss) income | (378,343) | (138,792) | (757,054) | 107,999 |
| Preferred stock dividends, including deemed dividend | 30,000 | 0 | 30,000 | 5,141 |
| Net (loss) income attributable to common shareholders | (408,343) | (138,792) | (787,054) | 102,858 |
| Other comprehensive income, net of tax | 0 | 2,946 | 0 | 2,978 |
| Total comprehensive (loss) income attributable to common shareholders | $ (408,343) | $ (135,846) | $ (787,054) | $ 105,836 |
| (Loss) income from operations per common share - basic | $ (1.52) | $ (0.49) | $ (2.86) | $ 0.36 |
| Weighted average common shares outstanding - basic | 267,827,913 | 280,853,882 | 274,726,414 | 282,722,198 |
| (Loss) income from operations per common share - diluted | $ (1.52) | $ (0.49) | $ (2.86) | $ 0.34 |
| Weighted average common shares outstanding - diluted | 267,827,913 | 280,853,882 | 274,726,414 | 308,336,536 |
| X | ||||||||||
- Definition Digital Currency Mining Revenues No definition available.
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- Definition Gain on Bitcoin Collateral No definition available.
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- Definition Income tax (expense) benefit from continuing operations No definition available.
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- Definition Indirect Tax Contingency Expense No definition available.
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- Definition Net Gain on Bitcoin Transactions and Fair Value Measurment No definition available.
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- Definition Other Comprehensive Income Net Of Tax No definition available.
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- Definition Other Impairment Expense No definition available.
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations, nonoperating income (expense) and income (loss) from equity method investments, before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of interest income (expense). No definition available.
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as other. No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of labor-related expenses classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The charge against earnings resulting from the aggregate write down of tangible assets from their carrying value to their fair value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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