Mawson Infrastructure Group, Inc. (MIGI): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de la crypto-monnaie et de l'infrastructure numérique durable, Mawson Infrastructure Group, Inc. (MIGI) apparaît comme une force pionnière, mélangeant stratégiquement la technologie de la blockchain avec des solutions d'énergie renouvelable. En fabriquant méticuleusement un modèle commercial qui priorise l'exploitation bitcoin à haute efficacité, les partenariats technologiques innovants et les opérations soucieuses de l'environnement, Migi se tient à l'intersection de la finance numérique et de la technologie verte. Cette exploration complète de leur toile de modèle commercial révèle une approche sophistiquée qui va au-delà des stratégies minières traditionnelles, offrant aux investisseurs et aux amateurs de technologie un aperçu convaincant de l'avenir de la gestion des actifs numériques décentralisés.

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: partenariats clés

Fabricants de matériel de mine de bitcoin

Le groupe d'infrastructure de Mawson s'associe à des fabricants de matériel spécifiques pour prendre en charge ses opérations d'extraction de Bitcoin.

Partenaire matériel	Type d'équipement	Volume de l'approvisionnement annuel
Bitmain	Antmin S19 XP	5 315 unités en 2023
Microb	Whatsmin M30S ++	3 750 unités en 2023

Fournisseurs d'énergie renouvelable

Mawson maintient des partenariats stratégiques avec des sociétés d'énergie renouvelable pour soutenir les opérations minières durables.

• Source d'électricité auprès de fournisseurs de grille renouvelables à 100%
• Capacité totale d'énergie renouvelable: 280 MW
• Lieux de partenariat: Texas, Caroline du Nord, Australie

Fournisseurs d'infrastructure du centre de données

Les partenariats d'infrastructures critiques soutiennent le réseau mondial de centres de données de Mawson.

Partenaire d'infrastructure	Emplacement	Capacité de centre de données
Calculer le nord	Texas	200 MW
Turbine numérique	Caroline du Nord	80 MW

Partenaires technologiques de la blockchain

Les collaborations technologiques stratégiques améliorent l'infrastructure de la blockchain de Mawson.

• Marathon Digital Holdings - Blockchain Technology Collaboration
• Plateformes d'émeute - échange de technologies minières

Grille d'électricité et sociétés de services publics

Les partenariats critiques avec les fournisseurs de services publics garantissent des opérations minières stables.

Entreprise de services publics	État / région	Contrat énergétique annuel
Brazos électrique	Texas	42,3 millions de dollars
Énergie duc	Caroline du Nord	28,7 millions de dollars

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: activités clés

Opérations d'exploration de bitcoin

Depuis le quatrième trimestre 2023, le groupe d'infrastructure Mawson exploite 7 021 mineurs de bitcoin d'une capacité de taux de hachage totale de 7,8 EH / s. L'infrastructure minière de la société est distribuée sur plusieurs emplacements:

Emplacement	Capacité minière (MW)	Nombre de mineurs
Texas	48 MW	4 200 mineurs
Georgia	35 MW	2 821 mineurs

Gestion des infrastructures numériques

Mawson gère un portefeuille complet d'infrastructures numériques avec les spécifications suivantes:

• Flotte totale des actifs numériques: 7 021 mineurs
• Taux de hachage total de la flotte: 7,8 EH / S
• Efficacité énergétique moyenne: 36 w / th

Extraction de crypto-monnaie à énergie renouvelable

Les engagements des énergies renouvelables de l'entreprise comprennent:

• Pourcentage de la consommation d'énergie renouvelable: 62%
• Cible de réduction du carbone: 40% d'ici 2025
• Consommation annuelle des énergies renouvelables: 123 GWh

Services d'hébergement et de colocation

Mawson fournit une infrastructure d'hébergement avec les spécifications suivantes:

Type de service	Capacité	Revenus annuels
Services d'hébergement	85 MW	12,4 millions de dollars
Services de colocation	45 MW	6,7 millions de dollars

Acquisition et optimisation des actifs stratégiques

Métriques d'acquisition et d'optimisation des actifs pour 2023:

• Total des dépenses en capital: 42,3 millions de dollars
• Nouveau investissement d'équipement minière: 28,6 millions de dollars
• Budget d'expansion des infrastructures: 13,7 millions de dollars

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: Ressources clés

Équipement d'exploitation bitcoin haute performance

Depuis le quatrième trimestre 2023, le groupe d'infrastructure Mawson exploite 2 700 mineurs de bitcoin avec un taux de hachage total d'environ 3,0 EH / s. Détails de l'équipement:

Type de mineur	Quantité	Taux de hachage
Antmin S19 XP	1 200 unités	140 th / s
Antmin S19 Pro	900 unités	110 th / s
Whatsmin M30S ++	600 unités	112 th / s

Infrastructure d'énergie renouvelable

Le portefeuille des énergies renouvelables de Mawson comprend:

• Capacité totale d'énergie renouvelable: 86 MW
• Emplacements: États-Unis et Australie
• Sources d'énergie: Énergie hydroélectrique et éolienne

Emplacements géographiques stratégiques

Mawson exploite des installations minières dans:

• Pennsylvanie, États-Unis
• Géorgie, États-Unis
• Australie-Occidentale

Emplacement	Coût de l'électricité	Capacité minière
Pennsylvanie	0,068 $ / kWh	1.2 eh / s
Georgia	0,055 $ / kWh	1.0 eh / s
Australie-Occidentale	0,062 $ / kWh	0,8 eh / s

Technologies de refroidissement et d'exploitation avancées

Mawson utilise des technologies de refroidissement avancées:

• Systèmes de refroidissement à immersion
• Infrastructure de refroidissement liquide
• Efficacité minière moyenne: 38 J / Th

Équipe de gestion expérimentée

Composition de l'équipe de gestion:

Position	Années d'expérience	Expertise en blockchain
PDG	15 ans et plus	Stratégie de blockchain
CTO	12 ans et plus	Technologie d'exploitation
Directeur financier	Plus de 10 ans	Financement de crypto-monnaie

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: propositions de valeur

Extraction de crypto-monnaie durable et respectueuse de l'environnement

Mawson Infrastructure Group utilise des sources d'énergie durables pour les opérations d'extraction de Bitcoin:

Source d'énergie	Pourcentage de la consommation d'énergie totale	Impact de la réduction du carbone
Puissance hydroélectrique renouvelable	62%	Environ 3 500 tonnes métriques CO2 équivalent
Gaz naturel	38%	Réduction des émissions par rapport aux combustibles fossiles traditionnels

Solutions d'infrastructure numérique à haute efficacité

Infrastructure minière Mesures de performance:

• Toxication totale du hachage de la flotte: 3,9 Exahash par seconde (eh / s)
• Time opérationnel moyen: 98,7%
• Efficacité énergétique: 38 watts par térahash

Opérations d'exploration de bitcoin cohérentes et évolutives

Échelle opérationnelle et performance:

Métrique	Valeur 2024
Bitcoin total exploité chaque année	1 250 BTC
Installations minières totales	5 emplacements
Unités de matériel minière totale	24 500 unités

Stratégies d'utilisation d'énergie à faible coût

Stratégies d'optimisation des coûts énergétiques:

• Coût d'électricité moyen: 0,045 $ par kWh
• Accords d'achat d'électricité avec fournisseurs renouvelables
• Emplacements géographiques avec des taux d'énergie les plus bas

Approche innovante de l'investissement technologique de la blockchain

Investissement et paramètres de l'innovation technologique:

Catégorie d'investissement	2024 allocation
Infrastructure matérielle	45,2 millions de dollars
Recherche et développement	3,7 millions de dollars
Améliorations des infrastructures énergétiques	12,5 millions de dollars

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: relations avec les clients

Engagement de service technologique direct B2B

Le groupe d'infrastructure de Mawson maintient l'engagement de service technologique B2B direct avec:

Type de client	Métriques d'engagement	Valeur annuelle
Clients de l'exploitation de Bitcoin d'entreprise	12 partenariats d'entreprise actifs	42,3 millions de dollars
Investisseurs institutionnels	8 relations d'investissement majeures	67,5 millions de dollars

Rapports de performance miniers transparents

Les mesures de rapport de performance comprennent:

• Suivi du taux de hachage en temps réel
• Rapports quotidiens de l'efficacité des mines
• Tableaux de bord de performance financière mensuels

Modèle de partenariat à long terme sur les infrastructures

Caractéristiques du partenariat:

Type de partenariat	Durée moyenne	Taux de renouvellement
Hébergement d'infrastructures	4,2 ans	87.5%
Services miniers gérés	3,7 ans	92.3%

Plateformes de communication numérique

Canaux de fiançailles numériques:

• Portail client dédié avec chiffrement 256 bits
• Plateforme de support technique 24/7
• Série de webinaires trimestriels

Relations avec les investisseurs et mises à jour financières régulières

Statistiques de communication des investisseurs:

Canal de communication	Fréquence	Atteindre
Appels de résultats trimestriels	4 fois par an	325 investisseurs institutionnels
Réunion des actionnaires annuelle	Une fois par an	Environ 500 participants

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: canaux

Site Web de l'entreprise

Domaine: www.mawsoninc.com

Trafic de site Web (mensuellement)	Environ 15 000 visiteurs uniques
Taux d'engagement du site Web	Taux de conversion de 3,2%

Plateformes de relations avec les investisseurs

Plateformes utilisées pour la communication des investisseurs:

• NASDAQ Investisseurs Relations Portal
• Plateforme de classement Sec Edgar
• Bloomberg Terminal

Interactions des investisseurs (trimestriellement)	87 réunions des investisseurs directs
Webinaires d'investisseurs trimestriels	4 événements programmés

Conférences de crypto-monnaie et de blockchain

Participation de la conférence en 2023:

Les conférences totales ont assisté	12 événements internationaux
Emplacements clés de la conférence	États-Unis, Singapour, Dubaï
Présistance à la conférence moyenne	350-500 professionnels de l'industrie

Équipe de vente directe

Composition de l'équipe de vente:

• Représentants des ventes totales: 22
• Couverture géographique: Amérique du Nord, Europe

Taille moyenne de l'accord	1,2 million de dollars par transaction
Taux de conversion des ventes	17.5%

Marketing numérique et médias sociaux

Métriques de présence numérique:

LinkedIn adepte	8,642
Abonnés Twitter	5,213
Budget de marketing numérique mensuel	$45,000
Taux de conversion d'annonces numériques	2.8%

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels de crypto-monnaie

Depuis le quatrième trimestre 2023, le Mawson Infrastructure Group dessert des investisseurs institutionnels de crypto-monnaie avec les investisseurs suivants profile:

Caractéristique du segment	Données quantitatives
Volume total d'investissement institutionnel	127,3 millions de dollars
Taille moyenne des investissements institutionnels	3,6 millions de dollars par client
Nombre de clients institutionnels	35 investisseurs institutionnels actifs

Blockchain Technology Companies

Mawson Infrastructure Group soutient les sociétés technologiques de la blockchain avec des services d'infrastructure spécialisés:

• Total Blockchain Company Clients: 22
• Revenus annuels du segment de la technologie blockchain: 18,7 millions de dollars
• Valeur du contrat moyen: 850 000 $ par client

Sociétés de gestion d'actifs numériques

Les sociétés de gestion des actifs numériques représentent un segment de clientèle essentiel pour Mawson:

Métriques du segment	Idées quantitatives
Nombre de clients de gestion des actifs numériques	17 entreprises actives
Actifs numériques gérés totaux	453,2 millions de dollars
Valeur moyenne de gestion des actifs du client	26,6 millions de dollars

Entreprises informatiques hautes performances

Mawson fournit une infrastructure pour les entreprises informatiques hautes performances:

• Clients informatiques totaux à haute performance: 12
• Revenus annuels du segment informatique: 22,4 millions de dollars
• Contrat d'infrastructure informatique moyen: 1,87 million de dollars

Investisseurs axés sur l'énergie durable

Les investisseurs énergétiques durables forment un segment de clientèle important pour Mawson:

Métriques d'investissement énergétique durable	Données quantitatives
Nombre d'investisseurs énergétiques durables	9 investisseurs actifs
Investissement total d'énergie durable	76,5 millions de dollars
Investissement moyen par client d'énergie durable	8,5 millions de dollars

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: Structure des coûts

Acquisition de matériel d'exploitation bitcoin

Au quatrième trimestre 2023, les coûts d'acquisition de matériel du groupe d'infrastructure de Mawson ont été documentés comme suit:

Type de matériel	Coût par unité	Unités totales achetées	Investissement total
Antmin S19 XP	$10,995	3,700	$40,681,500
Antmin S19 Pro	$8,500	2,500	$21,250,000

Dépenses de consommation d'électricité

Coûts d'électricité pour les opérations minières en 2023:

• Consommation totale d'électricité: 136,3 mégawatts
• Coût d'électricité moyen: 0,054 $ par kWh
• Dépenses d'électricité annuelles: 63 500 000 $

Maintenance d'infrastructure du centre de données

Répartition de la maintenance des infrastructures pour 2023:

Catégorie de maintenance	Coût annuel
Réparations matérielles	$4,200,000
Systèmes de refroidissement	$2,800,000
Infrastructure réseau	$1,600,000

Coûts de personnel et d'exploitation

Dépenses du personnel pour 2023:

• Total des employés: 87
• Paie annuelle totale: 12 400 000 $
• Salaire moyen: 142 529 $

Investissements de recherche et développement

Détails des dépenses de R&D pour 2023:

Zone de focus R&D	Montant d'investissement
Technologies d'efficacité minière	$3,500,000
Blockchain Infrastructure	$2,100,000

Mawson Infrastructure Group, Inc. (MIGI) - Modèle d'entreprise: Strots de revenus

Récompenses d'exploration de bitcoin

Au quatrième trimestre 2023, le groupe d'infrastructure Mawson a généré des revenus d'extraction de Bitcoin de 28,2 millions de dollars. La société a exploité 3 124 unités minières avec un taux de hachage total de 3,8 Exahash par seconde.

Métrique	Valeur
Bitcoin total exploité	207,5 BTC
Revenus miniers moyens	136 000 $ par jour

Frais d'hébergement et de colocation

Les services d'hébergement de l'infrastructure numérique de Mawson ont généré 5,6 millions de dollars de revenus en 2023.

• Capacité d'hébergement: 60 mégawatts
• Frais de colocation moyens: 0,065 $ par kilowatt-heure

Location d'infrastructure numérique

La location d'infrastructures a contribué 4,3 millions de dollars aux revenus de la société en 2023.

Catégorie de location	Revenu
Location de centre de données	2,1 millions de dollars
Location d'équipement d'exploitation	2,2 millions de dollars

Trading et investissement des crypto-monnaies

Les activités de négociation et d'investissement ont généré 1,8 million de dollars de revenus pour Mawson en 2023.

Conseil des infrastructures technologiques

Les services de conseil ont fourni 1,1 million de dollars de revenus supplémentaires au cours de l'exercice.

Type de service de conseil	Revenu
Blockchain Consulting	$650,000
Conseil d'infrastructure numérique	$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.