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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
_________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 10, 2024
_______________________________
Mawson Infrastructure Group Inc.
(Exact name of registrant as specified in its charter)
_______________________________
| Delaware | 001-40849 | 88-0445167 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
950 Railroad Avenue
Midland, Pennsylvania 15059
(Address of Principal Executive Offices) (Zip Code)
(412) 515-0896
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
_______________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.001 par value | MIGI | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On December 10, 2024, Mawson Infrastructure Group Inc. (the “Company”) issued a press release announcing its unaudited business and operational update for November 2024.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
The Company cautions that statements in this filing that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K filed with the SEC on April 1, 2024, Quarterly Report on Form 10-Q filed with the SEC on May 15, 2024, August 19, 2024, November 14, 2024, the Report on Form 8-K filed with the SEC on December 4, 2024, and in other filings that the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | Mawson Infrastructure Group Inc. |
| | | |
| | | |
| Date: December 10, 2024 | By: | /s/ Rahul Mewawalla |
| | | Rahul Mewawalla |
| | | President & Chief Executive Officer |
| | | |
EXHIBIT 99.1
Mawson Infrastructure Group Inc. Announces Monthly Operational Update for November 2024
Total Monthly Digital Colocation Revenue grew 111% Y/Y in November 2024
Total Current Operating Hash Rate (EH) of about 4.98 EH/s, with current total operating capacity of 129 MW and expected to grow to 153 MW upon Ohio facility completion
MIDLAND, Pa., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ: MIGI) (“Mawson” or “the Company”), a publicly-traded technology company focused on digital infrastructure platforms for artificial intelligence (AI), high-performance computing (HPC), and digital assets markets, today announced its unaudited business and operational update for November 2024.
Rahul Mewawalla, CEO and President said, “We are pleased to deliver another month of growth across our businesses with our total monthly revenue increasing year-over-year and month-over-month, highlighted by significant growth in our digital colocation revenue of 111% year-over-year. Following our recent honor of ringing the NASDAQ Closing Bell in celebration of the Company’s transformation, we continue to advance our innovative approach to providing digital infrastructure platforms and solutions. Our synergistic business portfolio and our enhanced strategic, operational, and technological capabilities are expected to continue to be a competitive advantage for us moving forward.”
Unaudited financial and operational highlights for November 2024:
- Monthly Digital Colocation Revenue was up 111% Y/Y, growing from $1.98 million in November 2023 to about $4.18 million in November 2024.
- Total Monthly Revenue of about $4.91 million, up 2% Y/Y from November 2023 and up 0.5% M/M from October 2024; Monthly Energy Management Revenue of $0.33 million and Monthly Digital Assets Mining Revenue of $0.40 million.
- Current Total Operating Capacity of 129 MW and expected to grow to 153 MW upon full completion of Ohio facility.
- Combined Total Current Operating Hash Rate (EH) of about 4.98 EH/s (includes colocation and self-mining)1.
- Mawson supports innovative, agile, efficient, and scalable approaches to AI infrastructure and compute, and invites AI/HPC ecosystem companies to discuss opportunities to collaborate on artificial intelligence, high-performance and accelerated computing solutions.
Conferences and Events Update
Mawson has planned for its CEO and President, Rahul Mewawalla to participate in the following upcoming conferences and events. Please contact IR@Mawsoninc.com for further information.
- Northland Capital Markets Growth Conference - December 12, 2024
- Axios Artificial Intelligence (AI) Summit – December 16-17, 2024 in San Francisco
- ICR Conference 2025 – January 13-15, 2025 in Orlando
- Pacific Telecommunications Council - January 20-22, 2025 in Honolulu
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a technology company that offers digital infrastructure platforms for AI, HPC, and digital assets. The Company’s digital infrastructure platforms can be used to operate computing resources for a number of applications, and are offered across digital assets, artificial intelligence (AI), high-performance computing (HPC) and other computing applications. Our innovation, technology, and operational expertise enables us to operate and optimize digital infrastructure to accelerate the digital economy. The Company has a strategy to prioritize the usage of carbon-free energy sources, including nuclear energy, to power its digital infrastructure platforms and computational machines. For more information, please visit: https://www.mawsoninc.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
The Company cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K filed with the SEC on April 1, 2024, Quarterly Reports on Form 10-Q filed with the SEC on May 15, 2024, August 19, 2024, November 14, 2024, the Report on Form 8-K filed with the SEC on December 4, 2024, and in other filings that the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law. For more information, visit us at https://www.mawsoninc.com
LinkedIn: https://www.linkedin.com/company/mawsoninc/
Twitter: Mawson (@Mawsoninc) / X (twitter.com)
Facebook: Mawson Inc | Pittsburgh PA | Facebook
YouTube: https://www.youtube.com/c/MawsonInc
Vimeo: https://vimeo.com/mawsoninc
Investor Contact:
Investor Relations Team
IR@mawsoninc.com
Partnerships Contact:
Partnerships Team
Partnerships@mawsoninc.com
Media and Press Contact:
Media Relations Team
mediarelations@mawsoninc.com
Share this press release
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___________________________
1 Current Operating Hash Rate is based on the nameplate hash rate of the miners currently deployed.
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