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Mawson Infrastructure Group inc   (MIGI)
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Price: $1.4000 $-0.01 -0.709%
Day's High: $1.47 Week Perf: 0.72 %
Day's Low: $ 1.30 30 Day Perf: -10.83 %
Volume (M): 290 52 Wk High: $ 4.40
Volume (M$): $ 405 52 Wk Avg: $1.85
Open: $1.37 52 Wk Low: $0.43



 Market Capitalization (Millions $) 23
 Shares Outstanding (Millions) 17
 Employees 24
 Revenues (TTM) (Millions $) 46
 Net Income (TTM) (Millions $) -67
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 18

Mawson Infrastructure Group Inc
Mawson Infrastructure Group Inc is a corporation that was incorporated in Delaware in 2012. The common stock of Mawson has been listed on The Nasdaq Capital Market since September 29, 2021. Prior to the acquisition of Mawson Infrastructure Group Pty Ltd (formerly known as Cosmos Capital Limited), a digital infrastructure provider, the company was known as Wize Pharma Inc and changed its name on March 17, 2021.

Mawson operates as a "Digital Asset Infrastructure" business, which includes owning and operating data centers through its subsidiaries for the generation of Bitcoin cryptocurrency (also known as "Bitcoin mining"), primarily in the United States. The company's data centers consist of proprietary modular data centers (MDCs), and Mawson continues to develop its MDC technology to improve performance. Since Mawson takes part in Bitcoin mining, it is commonly referred to as a Bitcoin miner.

Mawson's main business is the operation of its own fleet of Application-Specific Integrated Circuit (ASIC) computers, known as "Miners," within its data centers. These Miners are used for the mining of Bitcoin. The company is actively seeking out future sites for additional data center facilities. The Miners operated by Mawson are focused on the process of digital mining, specifically for Bitcoin.

In exchange for powering down its systems and curtailing the power it draws from the grid during periods of high electricity demand on the local grid network, Mawson may receive net energy benefits or compensation. Additionally, the company entered into a new contract in 2022 that allows it to trade its energy to achieve net energy benefits. Mawson has recognized a derivative asset on its balance sheet for the contract, which has been measured at fair value with any changes in fair value recognized in its statement of operations. These arrangements have been particularly useful during periods of high energy prices and low Bitcoin prices when the Bitcoin mining business has been less profitable.

Mawson also offers "hosting" or "co-location" facilities to other businesses that wish to have their Miners located within Mawson's facilities and MDCs. These businesses pay fees for the use of Mawson's facilities and related services. As of the date of the Annual Report, Mawson's major hosting customer is Celsius Mining LLC. Mawson successfully ended its hosting contracts with a number of sub-scale hosting customers during 2022.

Mawson's operations consist of three main businesses, which generate its revenue: self-mining, hosting, and the Energy Markets Program. At the core of Mawson's operations is Bitcoin mining, which involves the use of specialized computers to solve algorithmic problems to update the distributed or decentralized ledger of Bitcoin transactions securely. In return for providing this security to the Bitcoin ledger, Bitcoin miners are rewarded with Bitcoin. Mawson can increase its hash rate in several ways, including acquiring and operating more Miners, ensuring that as many of its Miners are online and operational at all times, and increasing the hashing capability of its Miners. By operating more Miners, Mawson will increase the amount of power it requires to operate the Miners, thus increasing its costs.


   Company Address: 201 Clark Street Sharon 16146 PA
   Company Phone Number: -515-0896   Stock Exchange / Ticker: NASDAQ MIGI
   MIGI is expected to report next financial results on March 22, 2024.


   

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Mawson Infrastructure Group Inc

Mawson Infrastructure Group Inc: A Major Setback in Q3 2023 Sends Shockwaves Through the Financial Sector

Mawson Infrastructure Group Inc (MIGI) is a Miscellaneous Financial Services company that recently reported a disastrous fiscal period in its most recent financial statements. During this period, the company experienced a significant decline in revenue, which decreased by nearly 60% to $11.33 million. Additionally, the net deficit per share extended to $-1.15, compared to the same reporting period a year before.
This decline in revenue and increased net deficit per share is in contrast to the overall trend of the Miscellaneous Financial Services sector. Despite this, MIGI's sector experienced a revenue improvement of 12.74% from the third quarter of 2022 to the third quarter of 2023. Furthermore, MIGI's revenue sequentially advanced by 7.403% from $10.55 million.

Mawson Infrastructure Group Inc

Mawson Infrastructure Group Inc (MIGI) Plummets into Deep Financial Crisis with Intensifying Losses in Q2 2023

Mawson Infrastructure Group Inc (MIGI) continues to face significant challenges, as evidenced by its second-quarter earnings report for 2023. This report revealed a widening deficit per share, declining revenues, and a substantial increase in net deficit compared to the previous year. These concerning results raise serious doubts about the company's ability to generate sustainable profits in the near future.
One of the most alarming aspects of MIGI's performance is the significant increase in its deficit per share. In the second quarter of 2023, the company reported a deficit per share of $-1.12, compared to just $-0.03 the previous year, representing a drastic deterioration. This decline is even more pronounced when compared to the preceding reporting season when MIGI had a deficit per share of $-0.80. Such a consistent pattern of worsening losses suggests that the company is struggling to control its expenses and generate adequate revenue.

Mawson Infrastructure Group Inc

Unforeseen Global Pandemic Impacts Mawson Infrastructure Group's First Quarter of 2023 ? A Steep Deterioration in Cloud Computing & Data Analytics Revenue Calls for Detailed Analysis

Despite Mawson Infrastructure Group Inc's disappointing first quarter financial report, there is reason to remain bullish on the company's future prospects.
Although the drop in revenue by -60.51% to $7.67 million is certainly cause for concern, it is important to analyze the underlying reasons for this decline. The unprecedented global pandemic has had a profound impact on a wide range of industries, and it is likely that Mawson Infrastructure Group Inc was not immune to these effects.






 

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