Mawson Infrastructure Group Inc. Files 8-K for Material Agreement

TL;DR

Mawson (MIGI) signed a big deal, details TBD in filing.

AI Summary

Mawson Infrastructure Group Inc. announced on March 27, 2024, that it entered into a Material Definitive Agreement. The filing does not provide specific details about the agreement, its terms, or any associated dollar amounts. It also lists financial statements and exhibits as part of the filing.

Why It Matters

This 8-K filing indicates a significant new agreement for Mawson Infrastructure Group Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, but the lack of specific details about the terms and financial implications introduces uncertainty.

Key Players & Entities

• Mawson Infrastructure Group Inc. (company) — Registrant
• March 27, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value MIGI The Nasdaq Stock Market

Filing Documents

• f8k_032724.htm (8-K) — 18KB
• exh_991.htm (EX-99.1) — 6KB
• 0001171843-24-001637.txt ( ) — 222KB
• gnw-20190101.xsd (EX-101.SCH) — 3KB
• gnw-20190101_def.xml (EX-101.DEF) — 25KB
• gnw-20190101_lab.xml (EX-101.LAB) — 33KB
• gnw-20190101_pre.xml (EX-101.PRE) — 22KB
• f8k_032724_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On March 25, 2024, Mawson Infrastructure Group, Inc ("Mawson" or "the Company") signed a customer service addendum to its previous Customer Service Framework Agreement ("Customer Agreement") with Consensus Technology Group LLC ("Consensus") that expanded its co-location services business by approximately an additional 5,880 miners or approximately an additional 20 MW. The initial Customer Agreement signed on October 12, 2023, between wholly owned subsidiaries of Mawson and Consensus, for co-location business services was approximately 15,876 miners or approximately 50 MW. With the execution of this new customer service addendum, Mawson is expected to provide Consensus co-location business services for a total of approximately 21,756 miners or approximately 70 MW, with Mawson's total co-location services business growing to about 25,284 miners or about 82 MW upon full deployment. In addition to its co-location services business, Mawson operates self-mining bitcoin and energy management businesses. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated March 27, 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS The Company cautions that statements in this report 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 Mawson'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, which include, without limitation, the possibility of Mawson's need and ability to raise additional capital, the development and acceptance of digital asset networks and digital assets and their protocols and software, the reduction in incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility in the value and prices of cryptocurrencies, and further or new regulation of digital assets. 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 March 23, 2023, and Mawson's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2023, August 21, 2023, November 13, 2023, and in other filings that the Company

View Full Filing

View this 8-K filing on SEC EDGAR