16. SUBSEQUENT EVENTS

On July 10, 2026, the Company entered into a 20-year triple-net infrastructure lease agreement (the “Sandersville Lease”), with two five-year extension options, with a leading global technology company for 175 MW of critical information technology load at newly acquired land located adjacent to the Company’s Sandersville, Georgia campus (the “Sandersville AI Campus”). Concurrently, the Company also entered into a construction agreement to commence the development and construction of the designed AI data center infrastructure. The Company will continue to utilize the current Sandersville site for bitcoin mining until the lease commencement date, at which time the power will be diverted to the Sandersville AI Campus and bitcoin mining activity will cease. The Company is evaluating the impact to the legacy bitcoin mining infrastructure, which could include a decommissioning and end of life. Because the Sandersville Lease and the related change in the intended use of the site occurred after June 30, 2026, the accompanying Condensed Consolidated Financial Statements have not been adjusted for this subsequent event.

The Company is currently evaluating the recoverability, remaining useful lives, and potential impairment of property and equipment related to bitcoin mining at the Sandersville site and, as of the date of this Quarterly Report on Form 10-Q, cannot reasonably estimate the financial effect of any resulting impairment charge or other related accounting impacts. Any resulting fiscal 2026 accounting effects will be recognized in the period in which the applicable recognition criteria are met and reflected in the Company’s Annual Report on Form 10-K for the fiscal year ending September 30, 2026.