Form 8-K Mawson Infrastructure For: Jul 20

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 20, 2021

 

Mawson Infrastructure Group Inc.

(Exact name of registrant as specified in its charter)

 

Delaware		000-52545		88-0445167
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer  Identification No.)

 

Level 5, 97 Pacific Highway, North Sydney NSW Australia		2060
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code +61 02 8624 6130

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered

  

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐  

 

 

Item 8.01

Other Events.

 

On July 20, 2021, Mawson Infrastructure Group Inc. (the “Company” or “Mawson”) issued a press release announcing recent hardware deployments. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

Mawson 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, the failure to receive delivery of miners when expected. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021, Mawson’s Quarterly Report on Form 10-Q filed with the SEC on May 19, 2021, and in other filings that Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

 

Item 9.01

Financial Statements and Exhibits.

 

Exhibit Number		Description
99.1		Press Release dated July 20, 2021.

 

  

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: July 20, 2021	By:	/s/ James Manning
		James Manning
		Chief Executive Officer

 

Exhibit 99.1

 

  

Mawson Infrastructure Group Inc. announces update on ASIC Bitcoin Mining Hardware deliveries and future deployment

 

Major hardware deployment continues, with additional PH added to existing operations throughout July

 

Sydney, Australia — July 20th, 2021 — Mawson Infrastructure Group Inc. (OTCQB: MIGI) (“Mawson”), a digital infrastructure provider with diversified operations across bitcoin mining and digital asset management, announces it has taken delivery of 250 Bitmain Antminer S19 Pro’s, expects a further 570 Avalon A1246 miners from Canaan (NASDAQ:CAN) to be delivered and operational before the end of July, and expects an additional 588 Avalon A1246 miners to be delivered in early August, adding a further ~125 PH to its existing operations.

 

The Antminer S19 Pro, one of Bitmain’s latest generation models, is a SHA256 mining rig, which produces a stable hash rate of 110TH/s with a power efficiency of 29.5J/TH, making it one of the most efficient ASIC miners on the market today.

 

Combined with low power costs at our flagship Georgia, USA site of less than 4c/kwh, Mawson anticipates our go forward break-even cost per Bitcoin to be below US$4,000, and our gross margins to be greater than 80% based on the current Bitcoin price and network difficulty.

 

The Georgia, USA site generates its power from over 80% renewable/non-carbon emitting sources, in-line with Mawsons Net Zero 2030 strategy, further details of which can be found on our Sustainability page at www.mawsoninc.com/sustainability

 

 

James Manning, CEO and Founder of Mawson, said, "Our major hardware deployment continues at pace, and we are delighted at the service and consistent delivery from Canaan. Our strong relationships with major ASIC mining hardware manufacturers gives us confidence in reaching our corporate goal of 2,000 PH by end 2021, and 5,000 PH by end 2022. This remains subject to extending the size of our Georgia, USA site, and we are in advanced negotiations with the City of Sandersville to expand the site by up to 300MW, which is in addition to the current capacity of 100MW. We look forward to updating shareholders on this front in due course.”

  

### 

 

 

About Mawson Infrastructure

 

Mawson Infrastructure is a digital infrastructure provider, with diversified operations across Cryptocurrency Mining and Digital Asset Management. Headquartered in Sydney, Australia and operating across the USA and Australia, Mawson Infrastructure’s mission is to build a bridge between the rapidly emerging digital asset industry and traditional capital markets, with a strong focus on shareholder returns. Mawson matches energy infrastructure with next-generation mobile data centre solutions, enabling the proliferation of blockchain technology.

 

For more information, visit: www.mawsoninc.com

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

Mawson cautions that statements in this press release 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 that 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 Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on May 19, 2021, and in other filings Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

 

Investor Contact:
Brett Maas
646-536-7331
[email protected]
www.haydenir.com

 

 

 

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• RUM Reports Annual Financial Results with Increased Net Comprehensive Income for the Year Ended December 31, 2023
• HRT Class Action Notice: Robbins LLP Reminds Stockholders of the Lead Plaintiff Deadline in the HireRight Holdings Corp. Class Action
• Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against HireRight, and Doximity Innovations and Encourages Investors to Contact the Firm