v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net (loss) income $ (996,896) $ 365,389
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Bitcoin mining revenue, net (455,594) (542,662)
Loss (gain) on fair value of bitcoin, net 587,189 (359,190)
Bitcoin issued for services 1,857 1,386
Impairment expense - other 5,406 0
(Gain) loss on derivative securities, net (12,628) 1,549
Loss (gain) on bitcoin collateral 158,964 (73,847)
Stock based compensation 38,734 10,609
Depreciation and amortization 333,229 240,010
Deferred income taxes, net (44,275) 24,281
Loss (gain) on disposal of assets 6,692 (2,865)
Other 6,781 2,550
Changes in operating assets and liabilities    
Decrease in operating lease liabilities (1,237) (656)
Decrease in accounts payable and accrued liabilities (13,824) 1,572
Increase in prepaid expenses and other current assets 3,466 (3,886)
Increase in other long-term assets (27,161) (5,863)
Net cash used in operating activities (409,297) (341,623)
Cash Flows from Investing Activities    
Payments on miners and mining equipment, including deposits (32,374) (382,285)
Purchase of fixed assets (80,620) (133,986)
Purchase of bitcoin and settlement of bitcoin-linked put options (146,263) (82,152)
Proceeds from sale of bitcoin and option settlement 471,278 127,625
Proceeds from sale of miners 3,744 42,832
Cash posted to collateralize derivative contracts (5,854) 0
Purchase of derivative contracts (20,420) 0
Proceeds from sale of derivative contracts 45,847 409
Asset acquisition - Austin County, TX Location (35,277) 0
Asset acquisition - Brazoria County, TX Location (38,214) 0
Asset acquisition - Other Locations (13,293) 0
Investment in Other Entities (44,089)  
Acquisition of GRIID Infrastructure 0 1,411
Asset acquisition - LaFayette, GA Location 0 (1,413)
Asset acquisition - Twin City, GA Location 0 (5,490)
Asset acquisition - Tennessee Locations 0 (8,105)
Net cash provided by (used in) investing activities 104,465 (441,154)
Cash Flows from Financing Activities    
Purchase of treasury stock (460,000) (145,000)
Payments for capped call 0 (90,350)
Payments on debt (1,909) (58,513)
Payments on lines of credit (250,500) 0
Proceeds from lines of credit 76,000 0
Payments of debt issuance costs (2,429) (2,007)
Payments on preferred dividends (30,396) (5,141)
Payments on finance leases (74) (34)
Proceeds from debt, net of issuance fees 1,133,086 812,195
Payments of taxes on shares withheld for net settlement of restricted stock units (426) (1,943)
Proceeds from exercise of options and warrants 1,435 499
Proceeds from equity offerings, net 0 186,808
Equity issuance costs (72) 0
Net cash provided by financing activities 464,715 696,514
Net increase in cash, cash equivalents and restricted cash 159,883 (86,263)
Cash, cash equivalents and restricted cash, beginning of the period 46,456 124,278
Cash and cash equivalents, and restricted cash, end of the period 206,339 38,015
Supplemental disclosure of cash flow information    
Cash paid for interest 3,088 4,575
Non-cash investing and financing transactions    
Fixed asset and miner purchases accrued not paid 4,369 2,816
Fixed assets purchased through finance transactions 2,749 1,000
Miners and derivatives purchased with bitcoin 47,050 80,878
Bitcoin transferred to collateral account 698,947 291,278
Bitcoin transferred from collateral account 463,601 171,462
Excise tax accrued on treasury stock purchases 3,161 0
Equity Issued in Asset Acquisition 36,133 0
Shares issued in connection with GRIID Acquisition 0 60,677
Software purchased with bitcoin 0 6,000
Unrealized gain on investment in available-for-sale debt security 0 2,755
Preferred shares dividends accrued 0 5,603
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 202,601 34,553
Restricted cash 3,738 3,462
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 206,339 $ 38,015