Mawson Sells Texas Bitcoin Mining Ops for $45M

TL;DR

Mawson selling Texas Bitcoin mining for $45M to boost balance sheet.

AI Summary

Mawson Infrastructure Group Inc. announced on September 10, 2024, that it has entered into a binding agreement to sell its Bitcoin mining operations in Texas for $45 million. The sale includes all of its Bitcoin mining hardware and related assets located at its Texas facilities. This strategic divestment is expected to significantly improve the company's balance sheet and provide capital for future growth initiatives.

Why It Matters

This sale allows Mawson Infrastructure Group to divest its Texas Bitcoin mining assets for a substantial sum, potentially strengthening its financial position and enabling strategic reinvestment.

Risk Assessment

Risk Level: medium — The sale of core assets for a significant amount introduces financial risk and uncertainty regarding the company's future operational strategy and profitability.

Key Numbers

• $45 million — Sale Price (Total consideration for the sale of Texas Bitcoin mining operations.)

Key Players & Entities

• Mawson Infrastructure Group Inc. (company) — Registrant
• Texas (location) — Location of sold Bitcoin mining operations
• $45 million (dollar_amount) — Sale price of Bitcoin mining operations
• September 10, 2024 (date) — Date of the announcement
• Bitcoin (other) — Asset being mined and sold

FAQ

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 par value MIGI The Nasdaq Stock Mar

Filing Documents

• ea0213970-8k_mawson.htm (8-K) — 30KB
• 0001213900-24-077097.txt ( ) — 199KB
• migi-20240910.xsd (EX-101.SCH) — 3KB
• migi-20240910_lab.xml (EX-101.LAB) — 33KB
• migi-20240910_pre.xml (EX-101.PRE) — 22KB
• ea0213970-8k_mawson_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events. On September 10, 2024, Mawson Infrastructure Group Inc. (the "Company" or "Mawson") provided an upcoming Conferences and Events update: Mawson plans to join the following upcoming conferences and events. Please contact IR@mawsoninc.com for further information. H.C. Wainwright 26th Annual Global Investment Conference in September 2024 in New York City, New York Token 2049 in September 2024 in Singapore World Summit Artificial Intelligence (AI) in October 2024 in Amsterdam, Netherlands Bitcoin Europe in October 2024 in Amsterdam, Netherlands Money 20/20 in October 2024 in Las Vegas, Nevada Pacific Bitcoin in October 2024 in Los Angeles, California Tech & AI (Artificial Intelligence) Live in November 2024 in New York, NY 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 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 t

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Mawson Infrastructure Group Inc. Date: September 10, 2024 By: /s/ Kaliste Saloom Kaliste Saloom General Counsel and Corporate Secretary 2

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View this 8-K filing on SEC EDGAR