Mawson Infrastructure Group, Inc. (MIGI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la criptomonedas e infraestructura digital sostenible, Mawson Infrastructure Group, Inc. (MIGI) surge como una fuerza pionera, combinando estratégicamente la tecnología de blockchain con soluciones de energía renovable. Al crear meticulosamente un modelo de negocio que prioriza la minería de bitcoins de alta eficiencia, las asociaciones tecnológicas innovadoras y las operaciones de consciente ambientalmente, MIGI se encuentra en la intersección de las finanzas digitales y la tecnología verde. Esta exploración completa de su modelo de lienzo de modelo de negocio revela un enfoque sofisticado que va más allá de las estrategias mineras tradicionales, ofreciendo a los inversores y entusiastas de la tecnología una visión convincente del futuro de la gestión descentralizada de activos digitales.

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocios: asociaciones clave

Bitcoin Mining Hardware Fabricantes

Mawson Infrastructure Group se asocia con fabricantes de hardware específicos para admitir sus operaciones mineras de bitcoin.

Socio de hardware	Tipo de equipo	Volumen de adquisición anual
Bitmain	Antminer S19 XP	5.315 unidades en 2023
Microbt	WhatsMiner M30S ++	3.750 unidades en 2023

Proveedores de energía renovable

Mawson mantiene asociaciones estratégicas con compañías de energía renovable para apoyar las operaciones mineras sostenibles.

• Abastecimiento de electricidad de proveedores de cuadrícula 100% renovables
• Capacidad total de energía renovable: 280 MW
• Ubicaciones de asociación: Texas, Carolina del Norte, Australia

Proveedores de infraestructura del centro de datos

Las asociaciones de infraestructura crítica admiten la red global de centros de datos de Mawson.

Socio de infraestructura	Ubicación	Capacidad del centro de datos
Calcular el norte	Texas	200 MW
Turbina digital	Carolina del Norte	80 MW

BLOCKchain Technology Partners

Las colaboraciones de tecnología estratégica mejoran la infraestructura de blockchain de Mawson.

• Marathon Digital Holdings - Blockchain Technology Collaboration
• Plataformas Riot - Intercambio de tecnología minera

Empresas de red y empresas de servicios públicos

Las asociaciones críticas con los proveedores de servicios públicos aseguran operaciones mineras estables.

Empresa de servicios públicos	Estado/región	Contrato de energía anual
Brazos Electric	Texas	$ 42.3 millones
Energía de Duke	Carolina del Norte	$ 28.7 millones

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocio: actividades clave

Operaciones mineras de bitcoin

A partir del cuarto trimestre de 2023, Mawson Infrastructure Group opera 7.021 mineros de bitcoin con una capacidad de tasa de hash total de 7.8 eh/s. La infraestructura minera de la compañía se distribuye en múltiples ubicaciones:

Ubicación	Capacidad minera (MW)	Número de mineros
Texas	48 MW	4.200 mineros
Georgia	35 MW	2.821 mineros

Gestión de infraestructura digital

Mawson administra una cartera integral de infraestructura digital con las siguientes especificaciones:

• Flota de minería de activos digitales totales: 7.021 mineros
• Tasa de hash de la flota total: 7.8 Eh/s
• Eficiencia energética promedio: 36 w/th

Minería de criptomonedas con energía renovable

Los compromisos de energía renovable de la compañía incluyen:

• Porcentaje de uso de energía renovable: 62%
• Objetivo de reducción de carbono: 40% para 2025
• Consumo anual de energía renovable: 123 GWH

Servicios de alojamiento y colocación

Mawson proporciona infraestructura de alojamiento con las siguientes especificaciones:

Tipo de servicio	Capacidad	Ingresos anuales
Servicios de alojamiento	85 MW	$ 12.4 millones
Servicios de colocación	45 MW	$ 6.7 millones

Adquisición y optimización de activos estratégicos

Métricas de adquisición y optimización de activos para 2023:

• Gasto total de capital: $ 42.3 millones
• Nueva inversión de equipos mineros: $ 28.6 millones
• Presupuesto de expansión de infraestructura: $ 13.7 millones

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocio: recursos clave

Equipo de minería Bitcoin de alto rendimiento

A partir del cuarto trimestre de 2023, Mawson Infrastructure Group opera 2.700 mineros de bitcoin con una tasa de hash total de aproximadamente 3.0 eh/s. Detalles del equipo:

Tipo minero	Cantidad	Tasa de hash
Antminer S19 XP	1.200 unidades	140 th/s
Antminer S19 Pro	900 unidades	110 th/s
WhatsMiner M30S ++	600 unidades	112 th/s

Infraestructura de energía renovable

La cartera de energía renovable de Mawson incluye:

• Capacidad total de energía renovable: 86 MW
• Ubicaciones: Estados Unidos y Australia
• Fuentes de energía: Energía hidroeléctrica y eólica

Ubicaciones geográficas estratégicas

Mawson opera instalaciones mineras en:

• Pennsylvania, EE. UU.
• Georgia, EE. UU.
• Australia Occidental

Ubicación	Costo de electricidad	Capacidad minera
Pensilvania	$ 0.068/kWh	1.2 eh/s
Georgia	$ 0.055/kWh	1.0 eh/s
Australia Occidental	$ 0.062/kWh	0.8 eh/s

Tecnologías avanzadas de enfriamiento y minería

Mawson emplea tecnologías avanzadas de enfriamiento:

• Sistemas de enfriamiento de inmersión
• Infraestructura de enfriamiento líquido
• Eficiencia minera promedio: 38 j/th

Equipo de gestión experimentado

Composición del equipo de gestión:

Posición	Años de experiencia	Experiencia en blockchain
CEO	Más de 15 años	Estrategia de blockchain
CTO	Más de 12 años	Tecnología minera
director de Finanzas	Más de 10 años	Finanzas de criptomonedas

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocio: propuestas de valor

Minería de criptomonedas sostenible y ecológica

Mawson Infrastructure Group utiliza fuentes de energía sostenibles para operaciones mineras de bitcoin:

Fuente de energía	Porcentaje del uso total de energía	Impacto de reducción de carbono
Energía hidroeléctrica renovable	62%	Aproximadamente 3.500 toneladas métricas CO2 equivalente
Gas natural	38%	Emisiones reducidas en comparación con los combustibles fósiles tradicionales

Soluciones de infraestructura digital de alta eficiencia

Métricas de rendimiento de infraestructura minera:

• Tasa de hash de la flota minera total: 3.9 Exahash por segundo (EH/S)
• Tiempo de actividad operativo promedio: 98.7%
• Eficiencia energética: 38 vatios por terahash

Operaciones mineras de bitcoin consistentes y escalables

Escala operativa y rendimiento:

Métrico	Valor 2024
Bitcoin total extraído anualmente	1.250 BTC
Instalaciones mineras totales	5 ubicaciones
Unidades de hardware de minería total	24,500 unidades

Estrategias de utilización de energía de bajo costo

Estrategias de optimización de costos de energía:

• Costo promedio de electricidad: $ 0.045 por kWh
• Acuerdos de compra de energía con proveedores renovables
• Ubicaciones geográficas con tasas de energía más bajas

Enfoque innovador para la inversión en tecnología blockchain

Métricas de inversión e innovación tecnológica:

Categoría de inversión	Asignación 2024
Infraestructura de hardware	$ 45.2 millones
Investigación y desarrollo	$ 3.7 millones
Mejoras de infraestructura energética	$ 12.5 millones

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocios: relaciones con los clientes

Compromiso directo del servicio de tecnología B2B

Mawson Infrastructure Group mantiene la participación directa del servicio de tecnología B2B con:

Tipo de cliente	Métricas de compromiso	Valor anual
Clientes de minería de Bitcoin Enterprise	12 asociaciones corporativas activas	$ 42.3 millones
Inversores institucionales	8 relaciones de inversión importantes	$ 67.5 millones

Informes de rendimiento minero transparente

Las métricas de informes de rendimiento incluyen:

• Seguimiento de tarifas de hash en tiempo real
• Informes diarios de eficiencia minera
• Paneles de rendimiento financiero mensual

Modelo de asociación de infraestructura a largo plazo

Características de la asociación:

Tipo de asociación	Duración promedio	Tasa de renovación
Alojamiento de infraestructura	4.2 años	87.5%
Servicios de minería administrados	3.7 años	92.3%

Plataformas de comunicación digital

Canales de participación digital:

• Portal de cliente dedicado con cifrado de 256 bits
• Plataforma de soporte técnico 24/7
• Serie de seminarios web trimestrales

Relaciones con los inversores y actualizaciones financieras regulares

Estadísticas de comunicación del inversor:

Canal de comunicación	Frecuencia	Alcanzar
Llamadas de ganancias trimestrales	4 veces anualmente	325 inversores institucionales
Reunión anual de accionistas	Una vez anualmente	Aproximadamente 500 participantes

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocios: canales

Sitio web corporativo

Dominio: www.mawsoninc.com

Tráfico del sitio web (mensual)	Aproximadamente 15,000 visitantes únicos
Tasa de participación del sitio web	Tasa de conversión de 3.2%

Plataformas de relaciones con los inversores

Plataformas utilizadas para la comunicación de los inversores:

• Portal de relaciones con inversores NASDAQ
• Plataforma de archivos de Sec Edgar
• Terminal de Bloomberg

Interacciones de los inversores (trimestralmente)	87 reuniones directas de inversores
Seminarios web de inversores trimestrales	4 eventos programados

Conferencias de criptomonedas y blockchain

Participación de la conferencia en 2023:

Conferencias totales a las que asistió	12 eventos internacionales
Lugares de conferencias clave	Estados Unidos, Singapur, Dubai
Asistencia a la conferencia promedio	350-500 profesionales de la industria

Equipo de ventas directas

Composición del equipo de ventas:

• Representantes de ventas totales: 22
• Cobertura geográfica: Norteamérica, Europa

Tamaño de trato promedio	$ 1.2 millones por transacción
Tasa de conversión de ventas	17.5%

Marketing digital y redes sociales

Métricas de presencia digital:

Seguidores de LinkedIn	8,642
Seguidores de Twitter	5,213
Presupuesto mensual de marketing digital	$45,000
Tasa de conversión de anuncios digitales	2.8%

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocio: segmentos de clientes

Inversores de criptomonedas institucionales

A partir del cuarto trimestre de 2023, Mawson Infrastructure Group atiende a inversores de criptomonedas institucionales con los siguientes profile:

Característica de segmento	Datos cuantitativos
Volumen total de inversión institucional	$ 127.3 millones
Tamaño promedio de inversión institucional	$ 3.6 millones por cliente
Número de clientes institucionales	35 inversores institucionales activos

Empresas de tecnología blockchain

Mawson Infrastructure Group admite compañías de tecnología blockchain con servicios de infraestructura especializados:

• CLIENTES TOTAL DE LA COMPAÑÍA BLOCKchain: 22
• Ingresos anuales del segmento de tecnología blockchain: $ 18.7 millones
• Valor promedio del contrato: $ 850,000 por cliente

Empresas de gestión de activos digitales

Las empresas de gestión de activos digitales representan un segmento crítico de clientes para Mawson:

Métricas de segmento	Ideas cuantitativas
Número de clientes de gestión de activos digitales	17 empresas activas
Activos digitales administrados totales	$ 453.2 millones
Valor promedio de gestión de activos del cliente	$ 26.6 millones

Empresas informáticas de alto rendimiento

Mawson proporciona infraestructura para empresas informáticas de alto rendimiento:

• Clientes de computación de alto rendimiento total: 12
• Ingresos anuales del segmento de computación: $ 22.4 millones
• Contrato promedio de infraestructura informática: $ 1.87 millones

Inversores sostenibles centrados en la energía

Los inversores de energía sostenible forman un segmento de clientes significativo para Mawson:

Métricas de inversión energética sostenible	Datos cuantitativos
Número de inversores de energía sostenible	9 inversores activos
Inversión energética total sostenible	$ 76.5 millones
Inversión promedio por cliente de energía sostenible	$ 8.5 millones

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocio: Estructura de costos

Adquisición de hardware de minería bitcoin

A partir del cuarto trimestre de 2023, los costos de adquisición de hardware de Mawson Infrastructure Group se documentaron de la siguiente manera:

Tipo de hardware	Costo por unidad	Unidades totales compradas	Inversión total
Antminer S19 XP	$10,995	3,700	$40,681,500
Antminer S19 Pro	$8,500	2,500	$21,250,000

Gastos de consumo de electricidad

Costos de electricidad para operaciones mineras en 2023:

• Consumo total de electricidad: 136.3 megavatios
• Costo promedio de electricidad: $ 0.054 por kWh
• Gastos de electricidad anual: $ 63,500,000

Mantenimiento de la infraestructura del centro de datos

Desglose de mantenimiento de la infraestructura para 2023:

Categoría de mantenimiento	Costo anual
Reparaciones de hardware	$4,200,000
Sistemas de enfriamiento	$2,800,000
Infraestructura de red	$1,600,000

Personal y costos operativos

Gastos de personal para 2023:

• Total de empleados: 87
• Nómina anual total: $ 12,400,000
• Salario promedio: $ 142,529

Inversiones de investigación y desarrollo

Detalles del gasto de I + D para 2023:

Área de enfoque de I + D	Monto de la inversión
Tecnologías de eficiencia minera	$3,500,000
Infraestructura de blockchain	$2,100,000

Mawson Infrastructure Group, Inc. (MIGI) - Modelo de negocios: flujos de ingresos

Recompensas de minería de bitcoin

A partir del cuarto trimestre de 2023, Mawson Infrastructure Group generó ingresos mineros de Bitcoin de $ 28.2 millones. La compañía operaba 3.124 unidades mineras con una tasa de hash total de 3.8 Exahash por segundo.

Métrico	Valor
Bitcoin total minado	207.5 BTC
Ingresos mineros promedio	$ 136,000 por día

Tarifas de servicio de alojamiento y colocación

Los servicios de alojamiento de infraestructura digital de Mawson generaron ingresos de $ 5.6 millones durante 2023.

• Capacidad de alojamiento: 60 megavatios
• Tarifa de colocación promedio: $ 0.065 por kilovatio-hora

Arrendamiento de infraestructura digital

El arrendamiento de infraestructura contribuyó con $ 4.3 millones a los ingresos de la compañía en 2023.

Categoría de arrendamiento	Ganancia
Arrendamiento del centro de datos	$ 2.1 millones
Arrendamiento de equipos mineros	$ 2.2 millones

Comercio e inversión de criptomonedas

Las actividades de comercio e inversión generaron $ 1.8 millones en ingresos para Mawson en 2023.

Consultoría de infraestructura tecnológica

Los servicios de consultoría proporcionaron $ 1.1 millones en ingresos adicionales durante el año fiscal.

Tipo de servicio de consultoría	Ganancia
Consultoría de blockchain	$650,000
Asesoramiento de infraestructura digital	$450,000

Mawson Infrastructure Group, Inc. (MIGI) - Canvas Business Model: Value Propositions

You're looking at the core value Mawson Infrastructure Group, Inc. (MIGI) delivers to its customers and stakeholders as of late 2025. It's all about providing the foundational compute power needed for the digital economy, but doing it with an eye on sustainability and integration.

Carbon-aware digital infrastructure solutions using nuclear and other clean energy.

Mawson Infrastructure Group, Inc. positions its value around being a competitive provider of carbon-aware digital infrastructure solutions. A core part of this strategy is powering operations with carbon-free energy resources, which explicitly includes nuclear power, ensuring their compute platforms support growth sustainably. This focus on clean energy is a key differentiator in the market.

Scalable, vertically integrated platform for rapid deployment of compute capacity.

The platform is designed to be vertically integrated, which helps with efficiency and deployment speed. Operationally, Mawson Infrastructure Group, Inc. reports having 129 megawatts of capacity already online, with further expansion planned to reach 153 MW upon completion of the Ohio facility. This infrastructure supports a diversified set of high-demand compute applications.

Reliable digital colocation services for enterprise-level customers.

Mawson Infrastructure Group, Inc. offers reliable digital colocation, which involves hosting customer-owned equipment. This is evidenced by a new customer agreement executed in March 2025 for digital colocation services providing approximately 64 MW of compute capacity. The company has built its platform to be a multi-tenant environment across several enterprise-grade institutional customers.

Diversified compute services spanning AI, HPC, and digital assets.

The value proposition spans three high-growth sectors: Artificial Intelligence (AI), High-Performance Computing (HPC), and digital assets. The company has advanced its strategic initiatives by launching a GPU pilot program on a leading decentralized AI network, marking an expansion beyond just digital asset mining into advanced computing. The operating hash rate for digital assets mining saw a 31% year-over-year increase, reaching 4.98 EH/s as of early 2025.

Here's a quick look at the revenue breakdown from the most recent monthly data available, showing the shift in focus:

Revenue Segment	October 2025 Monthly Revenue	Year-over-Year Change (October 2025 vs. October 2024)
Digital Colocation Revenue	$1.6 million	Down 59%
Energy Management Revenue	$1.6 million	Up 191%
Digital Assets Mining Revenue	$0.1 million	Down 55%

Improved operational efficiency, driving Q3 2025 gross profit to $8.6 million.

The focus on operational improvements is clearly reflected in the profitability metrics for the third quarter of 2025. Mawson Infrastructure Group, Inc. achieved a preliminary third-quarter gross profit of $8.6 million, a significant 98% increase compared to $4.3 million in Q3 2024. This profit improvement occurred even as total Q3 2025 revenue was $13.2 million.

The year-to-date figures for the nine months ending September 30, 2025, also show this efficiency gain:

• YTD 2025 Gross Profit: $18.4 million, an 18% increase versus YTD 2024.
• YTD 2025 Net Loss: Narrowed to $8.0 million from $41.6 million in YTD 2024, an improvement of approximately 81%.
• Q3 2025 Net Income: The company returned to profitability with a net income of $0.3 million.

The operational shift is clear: margin recovery is driving the bottom line, even with a year-to-date revenue decline of 17% to $36.5 million for the nine-month period.

Mawson Infrastructure Group, Inc. (MIGI) - Canvas Business Model: Customer Relationships

You're looking at how Mawson Infrastructure Group, Inc. (MIGI) manages its relationships with the enterprises and miners that use its digital infrastructure. It's a mix of long-term, high-capacity commitments and ongoing operational support.

Enterprise-focused, long-term colocation service agreements form the backbone of the predictable revenue stream. The focus here is locking in significant compute capacity for extended periods, which is key for infrastructure stability. For instance, in Q1 2025, Mawson Infrastructure Group, Inc. executed a significant 3-year digital colocation customer agreement with Canaan Inc. for approximately 64 MW of compute capacity. This deal involved hosting about 17,453 latest-generation ASICs. This single agreement represented nearly 50% of Mawson Infrastructure Group, Inc.'s then-current operational footprint of 129 MW. Upon completion of this deployment, Mawson Infrastructure Group, Inc. expected to operate approximately 5.51 exahash per second (EH/s) in combined total operating hashrate across its facilities.

The success of these enterprise deals is reflected in the revenue growth; Digital colocation revenue increased 27% year-over-year in Q1 2025, reaching $10.4 million. Mawson Infrastructure Group, Inc.'s total operational capacity stood at 129 MW, with an additional 24 MW under development, targeting a total operating capacity of 153 MW upon completion.

Here are the key contract metrics from recent enterprise wins:

Metric	Canaan Inc. Agreement (Q1 2025)	January 2025 Agreement	AI/HPC Potential
Term Length	3 years	12 months	Not specified for initial
Capacity Secured	64 MW	20 MW	Initial 20 MW deployment
ASICs/Miners Hosted	Approx. 17,453 ASICs	5,880 miners	NVIDIA GPUs
Potential Expansion	Provisions for future expansion	Potential for future expansion	Potential expansion to 144 MW

Dedicated investor relations is maintained through clear communication channels and regular financial reporting. You can reach the Investor Relations Team directly at IR@mawsoninc.com. To keep stakeholders informed, Mawson Infrastructure Group, Inc. announced it expects to resume issuing monthly business and operational updates starting in December 2025. Furthermore, the company provides detailed financial context through SEC filings, such as the Form 10-Q filed on May 15, 2025, and the Form 10-K filed on March 28, 2025. For Q3 2025, total revenue was $13.2 million, with an income from operations of $1.6 million.

The shift toward complex workloads necessitates direct sales and technical support for complex AI/HPC infrastructure needs. This is evidenced by the strategic entry into AI/HPC markets. Mawson Infrastructure Group, Inc. signed an AI/HPC colocation business agreement for an initial 20 MW deployment of NVIDIA GPUs, which carries an additional Letter of Intent (LOI) for potential expansion up to 144 MW. This focus on AI/HPC is part of a strategy to diversify beyond digital assets.

The relationship with contractual relationships with digital asset self-mining operations is managed alongside the enterprise colocation business. Mawson Infrastructure Group, Inc. delivers both self-mining and colocation/hosting services. However, the self-mining segment shows significant volatility. For the month of October 2025, digital assets mining revenue from self-mining operations was $0.1 million. This represented a decrease of 55% year-over-year from October 2024 and a 62% decrease month-over-month from September 2025.

The company's customer relationship strategy involves maintaining specific contact points for different needs:

• Investor Contact: IR@mawsoninc.com
• Partnerships Contact: Partnerships@mawsoninc.com
• Media and Press Contact: mediarelations@mawsoninc.com

Finance: draft 13-week cash view by Friday.

Mawson Infrastructure Group, Inc. (MIGI) - Canvas Business Model: Channels

You're looking at how Mawson Infrastructure Group, Inc. (MIGI) gets its digital infrastructure services-AI, HPC, and digital asset hosting-into the hands of its customers. The channels are a mix of direct enterprise engagement and public financial communication. It's all about securing those big, long-term compute contracts and keeping the market informed.

Direct sales team targeting enterprise colocation customers

Mawson Infrastructure Group, Inc. clearly focuses its direct sales efforts on securing large, multi-year digital colocation agreements with enterprise clients. This isn't about small-scale retail; it's about locking down significant power and compute capacity. For instance, in the first quarter of 2025, they executed a deal with a publicly traded enterprise customer in March 2025 for an initial term of 3 years, covering about 64 MW of compute capacity, which translates to approximately 17,453 latest-generation ASICs. This followed another agreement in January 2025 with a NASDAQ-listed company for about 20 MW on an initial 12-month term. The success of this direct approach is reflected in the Q1 2025 Digital colocation revenue hitting $10.4 million, a 27% year-over-year increase. However, the channel showed some recent softness, with October 2025 Digital colocation revenue falling to $1.6 million, down 59% Y/Y.

Corporate website and investor relations portal for financial disclosures

For the financial community, Mawson Infrastructure Group, Inc. uses its corporate website, https://www.mawsoninc.com, and dedicated investor relations channels for official disclosures. You can reach their Investor Relations team directly at IR@mawsoninc.com. Transparency is a stated goal, with management announcing plans to resume monthly business and operational updates starting in December 2025. The company provides detailed quarterly results, such as the Q3 2025 report showing total revenue of $13.2 million and net income of $0.3 million for the quarter. Year-to-date 2025 revenue was $36.5 million, with a net loss attributed to common stockholders of $8.0 million.

Industry conferences and presentations (e.g., Emerging Growth Conference)

Industry events serve as a key channel for Mawson Infrastructure Group, Inc. to communicate strategy and secure future interest, especially as they pivot toward AI and HPC. Management confirmed they planned to present at the Emerging Growth Conference on December 11, 2025. These presentations are vital for reaching potential enterprise customers and investors who follow the digital infrastructure space. The company also uses its press release channel, with contacts listed for Media Relations at mediarelations@mawsoninc.com.

Direct facility operation and management for service delivery

The core delivery channel is Mawson Infrastructure Group, Inc.'s direct operation and management of its digital infrastructure assets, which are strategically located in the PJM market. This vertical integration is how they control service quality for their colocation customers. As of Q1 2025, the company reported a total current operational capacity of 129 MW, with an additional 24 MW under development, targeting a total of 153 MW upon completion. The Bellefonte, PA facility, a key operational site, had its lease extended for five years, running until December 31, 2030. The Energy Management segment, which supports these operations, saw Q1 2025 revenue of $3.1 million, a 24% Y/Y increase.

Here's a quick look at the capacity and revenue mix as of the latest reported periods:

Metric	Value/Period	Date/Context
Total Current Operational Capacity	129 MW	Q1 2025
Capacity Under Development	24 MW	Q1 2025
New Enterprise Colocation Capacity Secured	64 MW	March 2025 Agreement
Q1 2025 Digital Colocation Revenue	$10.4 million	Q1 2025
October 2025 Digital Colocation Revenue	$1.6 million	October 2025
Q3 2025 Total Revenue	$13.2 million	Q3 2025

What this estimate hides is the ongoing transition; while colocation revenue is a key focus, the October 2025 Energy management revenue was $1.6 million, showing a massive 191% year-over-year increase, suggesting this segment is a growing channel for service delivery too.

You should check the latest monthly update for December 2025 when it releases, as management committed to resuming those updates then. Finance: draft 13-week cash view by Friday.

Mawson Infrastructure Group, Inc. (MIGI) - Canvas Business Model: Customer Segments

You're looking at the core groups Mawson Infrastructure Group, Inc. (MIGI) serves as they pivot toward high-value compute. Here's the hard data on who is buying capacity right now, based on late 2025 reporting.

Enterprise customers requiring large-scale digital colocation services.

This segment is driving significant revenue growth, showing a clear shift in focus from pure-play mining. Digital colocation revenue in Q1 2025 was $10.4 million, representing a 27% year-over-year increase. Mawson Infrastructure Group, Inc. has expanded its platform to serve multiple enterprise-grade institutional customers, positioning itself as one of the largest among publicly-traded peers in this area. A major contract secured in March 2025 was with a publicly traded enterprise customer for an initial term of 3 years, providing digital colocation services for about 64 MW of compute capacity.

Key capacity metrics tied to these enterprise clients include:

• Total current operational capacity: 129 MW.
• Capacity under development (Ohio facility): an initial 24 MW, growing total capacity to 153 MW upon completion.
• A January 2025 agreement with a NASDAQ-listed company for approximately 20 MW.

High-Performance Computing (HPC) and Artificial Intelligence (AI) workload clients.

Mawson Infrastructure Group, Inc. is actively building out its infrastructure for these intensive compute applications. The company signed an agreement with an AI customer for an initial 20 MW deployment of NVIDIA GPUs, with a Letter of Intent (LOI) for potential expansion up to 144 MW. This positions the company to address critical compute capacity needs in the AI and HPC markets.

Digital asset miners seeking efficient, carbon-aware hosting solutions.

While the focus is shifting, digital asset mining remains a component, with Mawson Infrastructure Group, Inc. delivering self-mining operations alongside colocation/hosting. The operating hash rate increased 31% year-over-year to 4.98 EH/s as of the end of FY2024. However, the revenue contribution from this segment shows a decline relative to other areas; digital assets mining revenue from self-mining operations in October 2025 was $0.1 million, down 55% year-over-year from October 2024. The company emphasizes powering operations with carbon-free energy resources, including nuclear power, to support these compute platforms sustainably.

Financial markets and investors (NASDAQ: MIGI).

The financial community tracks Mawson Infrastructure Group, Inc. via its listing on the NASDAQ. The company demonstrated a successful transformation to profitability in Q3 2025, posting an income from operations of $1.6 million, compared to a loss of $11.4 million in Q3 2024. For the nine months ended September 30, 2025, the net loss attributed to common stockholders improved by 81% to $8.0 million from $41.6 million in the prior year period. The basic net income per share for Q3 2025 was $0.02.

Here's a quick look at the recent financial performance relevant to investor perception:

Metric	Q3 2025 Amount	YTD 2025 Amount	Comparison Point
Total Revenue	$13.2 million	$36.5 million	Q3 2024: $12.3 million; YTD 2024: $44.2 million
Gross Profit	$8.6 million	$18.4 million	Q3 2024: $4.3 million; YTD 2024: $15.6 million
Income from Operations	$1.6 million	-$4.4 million	Q3 2024: Loss of $11.4 million; YTD 2024: Loss of $25.8 million
Net Income / (Loss)	$0.3 million	-$8.0 million	Q3 2024: Loss of $12.2 million; YTD 2024: Loss of $41.6 million

Finance: draft 13-week cash view by Friday.

Mawson Infrastructure Group, Inc. (MIGI) - Canvas Business Model: Cost Structure

The Cost Structure for Mawson Infrastructure Group, Inc. centers heavily on the operational expenses required to power and maintain its high-density digital infrastructure assets across its U.S. footprint.

Significant power and energy costs are inherent to the business, given the operation of 129 MW of capacity already online as of early 2025, with further expansion planned to 153 MW. Mawson Infrastructure Group, Inc. emphasizes powering these operations with carbon-free energy resources, including nuclear power, which influences the structure of these energy-related expenditures.

The direct costs associated with generating revenue are substantial. Preliminary estimated Cost of Revenues for the nine months ended September 30, 2025, was approximately $18.1 million. This cost base resulted in a preliminary Gross Profit for the nine months ended September 30, 2025, of $18.4 million.

You should note the following key financial metrics that frame the overall cost environment for the nine months ended September 30, 2025:

• Preliminary Estimated Cost of Revenues (9 Months): $18.1 million
• Preliminary Gross Profit (YTD): $18.4 million
• Preliminary Net Loss (YTD): Narrowed to $8.0 million from $41.6 million in the prior year period
• Preliminary Net Loss (9 Months): Approximately $9.8 million

The table below summarizes the known financial components impacting the Cost Structure as of the nine months ended September 30, 2025:

Cost Element Category	Specific Metric	Amount (9 Months Ended Sept 30, 2025)
Direct Cost of Operations	Preliminary Estimated Cost of Revenues	$18.1 million
Operational Scale	Current Operational Capacity	129 MW
Facility Commitment	Bellefonte, PA Lease Extension End Date	December 31, 2030
Overhead Context	Preliminary Gross Profit	$18.4 million

Capital expenditure for building and maintaining digital infrastructure is an ongoing requirement to support the company's growth in AI and HPC. While specific CapEx figures for the period aren't explicitly detailed in the preliminary results, the expansion from 129 MW to a total operating capacity of 153 MW upon completion of development implies significant ongoing investment in physical assets.

Lease payments for facilities, such as the Bellefonte extension, represent fixed or semi-fixed commitments. The successful lease extension at Bellefonte, PA, running to December 31, 2030, locks in a cost component for the medium term, supporting the infrastructure for AI and digital assets.

General and administrative expenses, including technology and personnel costs, are part of the operating expenses Mawson Infrastructure Group, Inc. manages. Management noted that the reduction in overall operating expenses for the nine months ended September 30, 2025, was partially offset by an increase in selling, general and administrative costs. Technology costs are implicitly high due to the focus on next-generation platforms for AI and HPC workloads.

The cost structure is actively managed through operational efficiency, as evidenced by the preliminary gross profit margin improvement to 48% for the nine months of 2025, up from 35% in the prior year period. Finance: draft 13-week cash view by Friday.

Mawson Infrastructure Group, Inc. (MIGI) - Canvas Business Model: Revenue Streams

You're looking at how Mawson Infrastructure Group, Inc. (MIGI) is bringing in money as of late 2025. The revenue picture for October 2025 shows a mix, with some legacy segments softening but others showing significant upside as the company pivots its focus.

For the month of October 2025, the total unaudited revenue Mawson Infrastructure Group, Inc. reported was $3.3 million. This figure reflects a transitional period, as the company actively works to shift its revenue mix toward higher-growth computing sectors.

Here is the breakdown of the key revenue components for October 2025:

Revenue Stream	October 2025 Amount
Digital colocation revenue	$1.6 million
Energy management revenue	$1.6 million
Digital assets mining (self-mining) revenue	$0.1 million

Looking at the longer-term performance, the total revenue for the nine months of 2025 was $36.5 million. This compares to $44.2 million for the same period in 2024, representing a year-to-date decrease of 17%.

The shift in the business model is evident in the performance of the individual streams. While digital colocation revenue for October 2025 was $1.6 million, the energy management revenue also totaled $1.6 million for the same month, showing a substantial year-over-year increase of 191%. Self-mining revenue was the smallest contributor at $0.1 million for October 2025.

Mawson Infrastructure Group, Inc. is actively pursuing new sources to stabilize and grow its top line, moving beyond its historical reliance on digital asset mining. This strategic pivot is centered on leveraging its existing infrastructure, which includes operating with 129 megawatts of capacity.

The primary focus for new revenue generation involves the advancement of its AI/HPC services:

• New revenue from the GPU pilot program for Artificial Intelligence/High-Performance Computing services.
• The pilot program is an aggressive 100-day plan to gather performance data.
• The objective is to build a repeatable, scalable framework for AI cloud services.
• This diversification is intended to capture opportunities in the burgeoning AI and HPC markets.

The success of the GPU pilot program is critical; it is designed to build a path for Mawson Infrastructure Group, Inc. to expand its role as an infrastructure provider for these intensive compute applications.